"The most effective jobs program appears to be to convince working-age adults they don't need a job."

Jobs by the numbers: 7.8% unemployment but fewer working

By MARCELLA S. KREITER

Last week's U.S. unemployment report, in a bit of deja vu, put the Obama administration's jobs record back to square one -- make that Day 1 of the president's tenure.

When President Barack Obama took office Jan. 20, 2009, the unemployment rate was 7.8 percent -- the same percentage the Bureau of Labor Statistics reported Friday.

Does that mean administration policies have been a success? Conservatives offered a loud "No," with former General Electric Co. Chief Executive Officer Jack Welch accusing the Labor Department of manipulating the statistics -- something government officials say is impossible.

A closer look at the statistics indicates although the headline number is positive and a boost to the Obama re-election campaign, job creation remains anemic and much of the reduction in the number of people searching for work can be attributed to those so discouraged they've stopped the job search, settled for part-time work or started their own home-based businesses.

The number of those in the labor force is estimated at 155.1 million, 3 million to 4 million fewer than in 2009.

"The nearly entire reduction in unemployment from its 10 percent peak in October 2009 has been accomplished through a significant drop in the percentage of adults participating in the labor force -- either working or looking for work," University of Maryland economist Peter Morici said.

"The most effective jobs program appears to be to convince working-age adults they don't need a job..."

Read more: http://www.upi.com/Business_News/2012/10/07/Jobs-by-the-numbers-78-unemployment-but-fewer-working/UPI-55711349604000/#ixzz28j8rQqFz