Posted on 04/08/2012 11:10:48 AM PDT by NaturalBornConservative
* By: Larry Walker, Jr. *
"Our economy's now created more than 4 million private sector jobs over the past 2 years. And more than 600,000 in the past 3 months alone," Mr. Obama boasted to a forum at the White House on women and the economy, on Friday (CBS News).
And in related news, on the previous evening, Egan-Jones Ratings Co. cut the U.S.A.’s credit rating one step to AA, the second downgrade in nine months and two levels below its highest grade, with a negative outlook citing the nation’s increasing debt burden (Bloomberg).
Most of us are well aware of the nation’s impending debt implosion, but the real employment situation has been distorted beyond reason. I understand how badly Mr. Obama is fighting against returning to the obscure existence he led prior to 2008, but if he was at all capable, he would at least tell us the truth about where we stand. I’m frankly weary from all the sugarcoating and distortion of facts. So what’s the real employment situation?
The Truth Shall Set You Free!
In order to know the truth, we must examine not so much monthly trends in employment, but rather changes which have occurred from the end of January 2009 through March 2012. When we examine the entire record, we find that our economy hasn’t created any jobs at all over the past 3 ¼ years, on a seasonally adjusted basis. Instead the unemployment rate has risen from 7.8% to 8.2%, the number of nonfarm jobs has declined by 740,000, the number of unemployed persons has increased by 624,000, and total employment has declined by 153,000. Meanwhile, the working age population has grown by 7,865,000, while the civilian labor force has only managed an increase of 471,000, causing the number of persons no longer counted in the labor force to balloon by 7,395,000.
The truth is that our economy hasn’t created any new jobs since Obama’s policies took effect. The total number of jobs peaked at an all time high of 146,387,000 in January of 2008, and through March of 2012 the number stands at 142,034,000, more than 4.3 million off the mark. If we had more jobs than existed in January of 2008, then Obama would have something to brag about, although not much. But since the truth is somewhat inconvenient, we are supposed to ignore the fact that we are more than 4 million jobs in the hole, and submit to repeated media brainwashing and succumb to the belief that we have somehow moved ahead by over 4 million. Phooey! Here are the facts.
Unemployment Rate
The unemployment rate rose from 7.8 percent in January of 2009 to 8.2 percent as of March 2012, according to the U.S. Bureau of Labor Statistics (Employment Situation 4/6/2012). (See table A-1 / Seasonally Adjusted)
Nonfarm Employment
Nonfarm payroll employment declined by 740,000 through March of 2012, from 133,561,000 in January of 2009 to 132,821,000. (See table B-1 / Seasonally Adjusted)
Unemployed Persons
The number of unemployed persons increased by 624,000 through March of 2012, from 12,049,000 in January of 2009 to 12,673,000. (See table A-1 / Seasonally Adjusted)
Total Employment
The number of persons employed declined by 153,000 through March of 2012, from 142,187,000 in January of 2009 to 142,034,000. (See table A-1 / Seasonally Adjusted)
Civilian Noninstitutional Population
The Civilian Noninstitutional Population (working age population) increased by 7,865,000 through March of 2012, from 234,739,000 in January of 2009 to 242,604,000. (See table A-1 / Seasonally Adjusted)
Civilian Labor Force
The labor force increased by 471,000 through March of 2012, from 154,236,000 in January of 2009 to 154,707,000. (See table A-1 / Seasonally Adjusted) The labor force hasn’t grown at all since October of 2008.
Not in Labor Force
The number of persons not in the labor force increased by 7,395,000 through March of 2012, from 80,502,000 in January of 2009 to 87,897,000. (See table A-1 / Seasonally Adjusted)
To make the claim of having created more jobs than Mr. Bush, which we all know was Mr. Obama’s insinuation; he must first match Mr. Bush’s all-time-high of 146,034,000. If the number of persons who involuntarily dropped out of the labor force (7.3 million), since Mr. Obama’s policies took effect, had instead been jobs created, Mr. Obama might go down in history as the all-time greatest. However, since we presently have 4.3 million fewer jobs than existed at Mr. Bush’s peak, and since under the direction of Mr. Obama, 7.3 million new working age persons have been pushed straight into joblessness and generational dependency, Mr. Obama’s policies should perhaps be branded as the most ineffective in U.S. history.
Since employment is a lagging economic indicator, and because economists are calling for recession in 2012, and since the statistics above represent the sum total of Obama’s economic accomplishments, we’re in for serious troubles ahead. To reiterate, Mr. Obama’s policies of Inordinate Stimulus, Undue Debt and Global Warming Foolishness caused the Looming Recession.
Photo Credit: A swarm of Western Toad tadpoles eating algae. Photo: Kristiina Ovaska
Reference: Bureau of Labor Statistics, Employment Situation Summary
Data: Worksheets
This is a huge thread and really informative. I hope everyone gets to see this stuff. Near 88 million not working—just crazy.
That my FRiend is the post of the week for me. Sums it all up with the bitter taste of sarcastic wit. Thanks
Too much for now...later is better.
How many of these jobs are part-time, low paying? When 20 million new jobs were created during the Reagan adminstration the media loved to paint them as mostly “burger flipping jobs”, which was a lie. Of course they never talk about what kind of jobs are being created under the Obama regime.
Yeah really,I do like that 88 million figure though. I think I will use it more and spread it around.
Walk to mailbox. Get check.
They are "Live on unemployment" kind of jobs.
Pretty spectacular "growth" in that area since little bammy was installed. .
Aside from health-care hiring of 852,000, a sector which has never slowed and has accelerated recently, most likely they are in government subsidized manufacturing of solar panels and windmills for bankrupt, or soon to be bankrupt, so-called "Green" endeavors, and government financed R&D into substituting algae bio-fuel for fossil fuels. In other words, the bulk are fleeting jobs which coupled with extended unemployment and other governmental assistance programs have cost us slightly more than $6 trillion (and rising) in additional government debt.
Check out how many people are now on disability.
That's so old school. My unemployment check is direct deposited. :(
Applying for it also done online. Every other week. You have to answer questions and tell how many "Job search activities" you've done each of those weeks. 4 is the minimum. But I generally do 7-15. I count several hours of perusing my job search engine results as one activity per day I do it, which is 7 days a week, except for days when I'm off the net, which are few and far between. Then I count one activity for each job applied for. Obviously the number of those depends on the "hits" I get from the search engines. I have about 13 to 15 different engines running, and some with multiple sets of keywords, so I get multiple lists from each of those. I get paid about what I put in, 2 hours a day, or 1/4 of normal, and I get 1/4 of my previous pay. But, mine runs out in about 10 weeks. I've been unemployed for 15+ months.
The truth is that our economy hasn’t created any new jobs since Obama’s policies took effect. The total number of jobs peaked at an all time high of 146,595,000 in November of 2007, and through March of 2012 the number stands at 142,034,000, more than 4.5 million off the mark.
To make the claim of having created more jobs than Mr. Bush, which we all know was Mr. Obama’s insinuation; he must first match Mr. Bush’s all-time-high of 146,595,000. If the number of persons who involuntarily dropped out of the labor force (7.3 million), since Mr. Obama’s policies took effect, had instead been jobs created, Mr. Obama might go down in history as the all-time greatest. However, since we presently have 4.5 million fewer jobs than existed at Mr. Bush’s peak, and since, under the direction of Mr. Obama, 7.3 million new working age persons have been pushed straight into joblessness and generational dependency, Mr. Obama’s policies should perhaps be branded as the most ineffective in U.S. history.
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