Via Erika Johnsen at Hot Air, this makes perfect sense in an Obama world. As Erika suggests, if Secretary of Labor Solis is right. . . . .
” But hey, if that’s really the case, why don’t we provide food stamps and extended emergency unemployment benefits for everyone — that will kickstart our economy like crazy, right?”
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%!
Speaking in an interview on CNBC yesterday, GOP Vice-Presidential Candidate Paul Ryan reacted to the terrible August Jobs Report by saying, “This is not even close to what a recovery looks like.” Ryan pointed out that the U.S. needs to create 150,000 jobs a month just to keep up with population growth. Only 96,000 new jobs were created in August, with 368,000 people dropping out of the workforce altogether.
Here is video of Gov. Mitt Romney today reacting to the August Jobs Report, saying “Americans are tired of being tired.” The report contained much more bad news, with 368,000 people dropping out of the workforce.
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.”
The Unemployment Numbers are out for August 2012, and they are uniformly considered to be terrible. Only 96,000 private sector jobs were created, well below the expected 125,000. Even worse, the workforce shrank, with some 300,000 people leaving the workforce. The Unemployment Rate remains above 8% for a 43rd consecutive month at 8.1%, down slightly from 8.3% due to the shrinking of the workforce itself.
REUTERS: Jobs growth slowed more than expected in August, setting the stage for the Federal Reserve to pump additional money into the sluggish economy next week and dealing a blow to President Obama as he seeks reelection in November.
Nonfarm payrolls increased only 96,000 last month, the Labor Department said on Friday. While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, it was largely due to Americans giving up the search for work.
The report’s weak tenor was also underscored by revisions to June and July data to show 41,000 fewer jobs created than previously reported. The labor force participation rate, or the percentage of Americans who either have a job or are looking for one, fell to 63.5 percent — the lowest since September 1981.
The lackluster report keeps the pressure on Obama ahead of the November vote in which the health of the economy looms large.
Economists polled by Reuters had expected payrolls to rise 125,000 last month, but some had pushed their forecasts higher after upbeat data on Thursday. . . Read More
Workforce participation rate hits new three-decade low.— Guy Benson (@guypbenson) September 7, 2012
Even Soledad isn’t spinning the 8.1%. Said that’s due to 368k dropping out.— John Nolte(@NolteNC) September 7, 2012
RT @politico: June jobs growth revised down from 64,000 to 45,000, and July revised down from 163,000 to 141,000.— Sean Hackbarth (@seanhackbarth) September 7, 2012
Unemployment ticks up for 20-24 year olds to 13.9% (previously 13.5%).— Kristen Soltis (@KLSoltis) September 7, 2012
Terrible jobs report, shrinking labor force participation rates, downward revision, loss of manufac jobs— James Pethokoukis (@JimPethokoukis) September 7, 2012
11.2%: Unemployment rate if labor force participation rate was the same as when Obama took office— James Pethokoukis (@JimPethokoukis) September 7, 2012
There are actually 119k less people employed than in July. But labor force shrank by 368k so the U3 declines.— Daniel Horowitz (@RMConservative) September 7, 2012
Here is an outstanding new GOP Ad in response to the continued high unemployment under the Presidency of Barack Obama. The ad has a single message – “It’s been four years.” Obama isn’t working.
You really can’t make this stuff up! But then, the economy is so bad, you have to grasp at whatever you can find to try and make it look better:
USA TODAY: The White House is really getting specific when it comes to the unemployment rate.
Rather than 8.3% — the rounded-up figure — Obama economic adviser Alan Krueger writes on the White House website that the real jobless rate is 8.254%.
“The household survey showed that the unemployment rate ticked up to 8.3% in July (or, more precisely, the rate rose from 8.217% in June to 8.254% in July),” wrote Krueger, chairman of the Council of Economic Advisers. . . . Read More
George Will sums up where we are in the Obama Economy. If it were not for “7 million people” leaving the workforce by going on disability or just giving up looking for work, unemployment would be “10.9%” rather than already dreadful 8.2%. But Obama wants four more years to keep doing the same thing.