Obama’s chart (top) measures the rate of change from month to month. Pollster.com’s chart (bottom) measures the cumulative number of unemployed.
Anyone remember calculus? One chart graphs the derivative of the other. Acceleration vs. distance travelled.
Obama’s chart doesn’t lie, but it does misstate the nature of the problem. We don’t care that fewer people lost their jobs this month than last month. We care that the total number of people unemployed is still ridiculously high.
Another way to look at it: imagine you get pulled over for speeding. The officer says you were going 85. You respond, but I was going 115 and then I slowed down! So I shouldn’t get a ticket. That’s the logic of the Obama chart.
I wish I didn’t have to agree with this, but yes. The whole “we’re losing fewer jobs now!” metric is totally perplexing to me. If no one had a job, then no one could lose their job. Would that be a big win for the economy?