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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Lambert Strether</author_name><author_url>https://www.nakedcapitalism.com/author/lambert-strether</author_url><title>O Frabjous Day! Callooh! Callay! A Jobs Story | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="HKc4x2DDTP"&gt;&lt;a href="https://www.nakedcapitalism.com/2012/09/o-frabjous-day-callooh-callay-a-jobs-story.html"&gt;O Frabjous Day! Callooh! Callay!  A Jobs Story&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2012/09/o-frabjous-day-callooh-callay-a-jobs-story.html/embed#?secret=HKc4x2DDTP" width="600" height="338" title="&#x201C;O Frabjous Day! Callooh! Callay!  A Jobs Story&#x201D; &#x2014; naked capitalism" data-secret="HKc4x2DDTP" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>By Hugh, who is a long-time commenter at Naked Capitalism. Originally published at Corrente.  The Bureau of Labor Statistics announced a 386,000 adjustment to its 2012 jobs figures, putting Obama in positive (+125,000) jobs territory for the first time in his Administration. This will no doubt make for good cheering material for the Obama campaign, but it rather misses the larger and far more important point that we still have a jobs deficit since the January 2008 jobs peak of nearly 11 million. That positive 125,000 is achieved by ignoring two major factors: job losses in 2008 before Obama became President (recessions are impolitic and don't wait for Presidential Inaugurations to begin) and 4 1/2 years of population growth in the labor age population.</description></oembed>

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