Bill O’Reilly asked GOP presidential candidate Donald Trump if President Obama should receive any credit for the latest unemployment rate of 4.9 percent.TRUMP: “Look, you can’t give credit. The economy is having the worst — it’s so bad. Hey, Bill, every time I go out, I have packed auditoriums, packed rooms because people don’t have jobs. They don’t have the jobs they want.”
O’REILLY: “But it’s 4.9 percent unemployment.”
TRUMP: “It’s a phony number, Bill. The number is 25 percent, and probably higher than that. People are looking for jobs, they can’t find them, they keep looking, they give up, and now they’re statistically employed. Bill, the economy is doing terribly.
Look at even now the stock market, finally, that was the one part of the economy, and finally that’s crashing. These are phony numbers put up by politicians to make them look good. When you hear 5 percent and 4.9 percent, it’s not the right number. Plus, as you probably have heard, the jobs are bad jobs. They’re really low-level jobs and bad jobs, I have seen 15 different reports on that. But the fact is, if you look around for a job for months and months, you can’t get it, you just sort of go home and forget about it, you are considered employed. There are millions of people out there, Bill, that can’t get jobs.”
TRUMP: “That’s why I’m filling up these stadiums.”
President Obama was asked about the low workforce participation rate in spite of the low unemployment number.
OBAMA: Part of what was good in this jobs report is the fact that the participation rate, uh, in fact, uh, didn’t drop. That wasn’t the reason why unemployment dropped. More people are entering into the workforce, they feel more confident and they’re finding work. Some of this is still the hangover from what happened in 2007 and 2008.
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