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A Studebaker Has More Momentum Than This Economy: CNBC's Santelli Reacts to Friday's Jobs Report


"Shame on all of them."

The Labor Department on Friday announced that U.S. employers added 146,000 jobs in November, pushing the unemployment rate down to 7.7 percent. However, as noted earlier on TheBlaze, this figure is due in large part to the number of people who have given up looking for work.

Particularly unhappy with the lackluster report is CNBC’s Rick Santelli, the man commonly credited with starting the Tea Party.

“A 1954 Studebaker Lark has more momentum than this economy!” said Santelli, referring to the fact that the labor force participation rate has dropped 63.6 percent.

“The people who run the country – on both sides of the aisle – they love to get elected and they also love to fib about the statistics in any way they can,” he adds. “Once again, I think my common phrase these days is: Shame on all of them.”

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