As the mood of American workers darkens, with their growing discouragement over their prospects of finding work, President Barack Obama’s bid for a second term in office may be in doubt from a historic perspective.
The only sitting president since 1912 to win re-election with the unemployment rate above 8 percent was Franklin D. Roosevelt.
On Friday, the official national unemployment rate dipped from 8.3 percent to 8.1 percent.
Meanwhile, US “underemployment,” as measured without seasonal adjustment, was a whopping 17.1 percent in August.
That’s unchanged from the end of July, according to a Gallup survey.
Gallup’s underemployment metric adds the percentage of unemployed with the percentage of those working part time but looking for full-time work.
In fact, the majority of underemployed Americans say they’ve lost hope of finding work in the coming weeks, according to a Gallup poll.
And a shocking 6 in 10 part-time workers told the same pollsters they’ve no hope of landing full-time work in the next four weeks.


