When might the economy return to the sort of unemployment rate we saw before the Great Recession, say, 4.5% or so? Let’s assume a) labor force participation regains half the ground it’s lost over the past four years, and b) job growth keeps turning in 2012-like performances. According to the Atlanta Fed’s jobs calculator, it would take another eight years to get back to the unemployment nadir of the George W. Bush administration. And that’s assuming, we don’t suffer another recession between now and then.
No wonder the president doesn’t want to talk about jobs.
If your stomach can take any more of Obamanomics, check out these article on this subject: