The December 2012 Unemployment Numbers are out, and the Unemployment Rate moved up to 7.8%. The Obama water-carriers are saying it remained “unchanged” because they revised the November number up from 7.7% to 7.8%, after having trumpeted by drop in unemployment to 7.7%!
The October Jobs Report is out, and the U.S. Economy added 171,000 jobs, with the Unemployment Rate rising to 7.9% as more people began looking for work. Approximately 600,000 people who had dropped out of the workforce, with 400,000 of them reporting they found some kind of work. The 200,000 who did not find work is why the unemployment rate rose. Real Unemployment, when including those who have stopped looking for work, is still at 14.6%, down just slightly from 14.7%.
.@mittromney: “Jobless rate is higher than it was when Pres Obama took office, and there are still 23 million Americans struggling for work”— Ryan Williams (@RyanGOP) November 2, 2012
Context: Even if we averaged 210,000 jobs a month, we wouldnt close jobs gap until 2021— James Pethokoukis (@JimPethokoukis) November 2, 2012
The Obama transition team/econ officials said if we passed the stimulus, unemployment would be 5.2% today. It’s 7.9%. #CantAfford4More— Reince Priebus (@Reince) November 2, 2012
Here’s video of CNBC’s Rick Santelli this morning, reacting to news the Unemployment Rate has dropped to 7.8% from 8.1% despite continued weak job growth. Santelli said, “I told you they’d get it under 8% — they did!”
Ed Morrissey at Hot Air has a great rundown on all the numbers:
From yesterday’s August Jobs Report, word came that the “Labor Participation Rate” is now the lowest in an entire generation. It is now down to 63.5% (percentage of Americans of working age who are employed), with the total percentage of Americans 25 and up who are employed falling to 58.3%.
Here is video of Gov. Mitt Romney this morning reacting to the dismal August 2012 Jobs Report, showing anemic job creation numbers, and even worse, showing that 368,000 Americans just dropped out of the workforce last month – people who gave up looking for work.
Romney said the report is a continuation of the “bad news,” and it shows “we are going in the wrong direction.”