This post follows up on Friday morning's entry (at BizzyBlog; at NewsBusters) showing that "Fewer Than 0.5% of Americans Live in Fully Recovered Counties." This is the kind of news which would be front and center with the nation's establishment press if such a report came out during a Republican or conservative presidential administration. With Team Obama in place, NACo's work has been virtually ignored.
Some commenters at the Friday post raised a potentially valid objection to the criteria used by the National Association of Counties to determine "full recovery." NACo's four bases were returns to pre-recession bests in number of jobs, the unemployment rate, GDP, and home prices. Objectors wanted to completely discount the group's work based on its inclusion of home prices, arguing that pre-bubble home prices were artificially high, and that a failure to return to those levels was not a valid indicator of economic malaise. If all three other metrics were impressive, they would have had a point. But they weren't. This post will look at the unemployment rate metric, because that will be the only one needed to show that they still don't have a point.