Yet Another Reason Why I’m Not Worried About the Economy

At NRO’s Corner, David Freddoso reproduces a chart showing key economic statistics now compared with the same numbers from 1996, when we were under the benevolent guidance of the wise and capable St. Bubba:

Key Labor Market Statistics in 1996 and 2008
March 1996 March 2008
1. U.S. Unemployment Rate 5.5% 5.1%
2. Number of Long-Term Unemployed 1.33 million 1.28 million
3. Average Weeks Unemployed 17.3 weeks 16.2 weeks
4. Median Weeks Unemployed 8.3 weeks 8.1 weeks
5. Not in Labor Force because discouraged over job prospects 451,000 401,000
6. Democrats calling for Extended Unemployment Benefits? No Yes
7. President’s Party Affiliation Democrat Republican