Lefties celebrate Obama’s success as labor force shrinks by 350K

C’mon! We’re doin’ just fine! Obama said the “economy is poised to take off” and now the unemployment rate has edged down to 7.7 percent and nonfarm payroll employment increased by 146,000 in November, according to this morning’s Bureau of Labor Statistics report.

Forward! And pay no attention to the shrinking workforce. It’s the liberal way!

Joe Scarborough thinks the report is awesome sauce.

Because, really, what could be more awesome than job-seekers just giving up?

Miseducating? As always, Jim Pethokoukis provides some sobering perspective.

More perspective:

Conservatives helpfully nutshell the liberal reaction:

What will President Obama have to say about today’s labor numbers? And a better question from Jonah Goldberg: Will anyone ask?

Update:

Jim Pethokoukis drills down deeper into the “new normal” at the AEI blog.

Read the whole thing.

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