This latest rash of job losses seems to have stemmed from the banking crisis, which (I think) is the direct cause of the global recession (please correct me if I am wrong).
In which case, the government could only be said to be responsible for not adequately supervising the banking system (and since the problems originated in the USA, the US government is the one ultimately responsible), so its responsibility for job losses is actually fairly tenuous.
So, if the downturn in the economy is due to forces beyond our Government’s control, surely the ‘boom’ period is similarly unrelated to Government policy? And if this is the case, the government has bog all to do with how many people *were* employed when the number of registered unemployed hit its early noughties low.
So why is employment level often used by governments and opposition parties as a measure of how well they are performing?