The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( ETF Expert) -- The headline unemployment number has fallen to 8.5% from a "Great Recession" high that is well north of 9%. Many say that the trend is heading in the right direction. And the media are beginning to tout the executive branch of government as having contributed to "job creation."
Privately, many economists decry that systematic wealth redistribution is incapable of creating jobs -- issues of fairness notwithstanding. In the same vein, conservatives wonder why the White House can be credited with 2.7 million positions filled. Shouldn't the media discuss the 4.3 million lost during the current Administration's tenure? That's a net loss of 1.6 million jobs.
(Note: Approximately 4.3 million more jobs were lost under President Bush, for a total loss of 8.6 million. The Great Recession was rather unkind.)
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