Posted on 07/03/2010 12:50:18 AM PDT by JohnHuang2
The train that is the nation’s economic recovery has slowed noticeably, unable to generate enough jobs in the last two months to keep pace with population growth, much less reduce the vast numbers of unemployed Americans.
The United States added just 83,000 private sector jobs in June, according to the monthly statistical snapshot released by the Labor Department. The unemployment rate declined to 9.5 percent, from 9.7 percent in May. But that was a largely illusory decline, as 652,000 Americans left the work force.
(Excerpt) Read more at nytimes.com ...
The Bureau of Census Jobs Statistics -- er, Labor Statistics -- yesterday reported that 125,000 jobs were 'unexpectedly', startlingly, surprisingly, unanticipatedly eliminated from the 'recovering' economy in June. Expert expectors were stunned, shocked, dismayed that temporary census jobs would last for a limited time only. But few predict a double-dip recession after reports of Elin Nordegren's still-sizable divorce settlement.
Obama hailed the abysmal jobs report as showing America going down the right path, although "we're not headed there fast enough for a lot of Americans" and "we're not headed there fast enough for me, either." But I can see the edge of the cliff! Step on the gas! We're almost there!
Private-sector employment grew by a dismal 83,000, while the pirate-sector -- er, public-sector, sorry -- shed 208,000 jobs, the report's only bright side.
The average workweek was down. "Average hourly earnings of all employees in the private nonfarm sector" were down, with no detectable growth in "average hourly earnings of private-sector production and non-supervisory employees" either, (bls.gov). The number of long-term jobless (unemployed for 27 weeks or more, representing almost half the unemployed) was stuck at 6.8 million. The number of part-time workers who want full-time work but can't find full-time jobs was stuck at 8.6 million.
Construction jobs were down by 22,000. Wholesale employment dropped by 6,600; the goods-producing sector lost 8,000 jobs. Jobs in motor vehicles and parts were down 2,600 and financial activities lost 15,000 jobs. Factory employment growth shrank from 32,000 in May to 9,000 in June. As Obama said, we're headed in the right direction.
On a brighter note, employment in the hospitality and leisure industries rose by 37,000, but half of those were licensed massage therapists for Al Gore.
The jobless rate inched down from 9.7 to 9.5 percent primarily because some 652,000 people gave up looking for a job in Obama's jobs paradise. The rate would've topped 10 percent had they not given up their fruitless search. According to the government, an unemployed person who gives up looking for a nonexistent job is not considered unemployed.
With even the Socialist Party now disowning him after endorsing him for president, Obama wants to rush amnesty for 25 million illegal aliens since these criminals will be all that remains of his shrinking base by 2012.
Obama blames his incompetence and crappy economy on Bush, who's in the 18th month of his third term, running the country from Crawford. During his two terms, liberals complained whenever Bush dropped by the ranch 'rather than doing his job' ("BUSH STARTS MONTHLONG VACATION IN TEXAS!"), now the same ninnies think the good-for-nothing lazy-arse cowboy's calling all the shots from the ranch's grassy knoll.
From the big picture angle, Obama's lousy economy is the perfect metaphor. Eighteen months into Obamanomics, whether it's consumer confidence sinking or the labor force shrinking or paychecks shriveling or the market cratering or factory orders tanking or the deficit soaring or revised GDP estimates to revised GDP estimates shrinking or the epic-sized sinkhole the housing market is falling into, you see in the economy a perfect reflection of Obama -- reeling, stumbling, tottering and tripping, staggering along, aimlessly, zigzagging all over the joint.
One trillion dollars of wasted 'stimulus' and we get 3.2 million Obama speeches demanding more failed stimuluses.
Speaking to "reporters" before jetting off on Air Force One to attend a funeral for Robert Byrd who joined the Klan to become a prominent Democrat, Obama vowed to fight tooth and nail to somehow create jobs for people besides Joe Sestak. But to crank up the economy and get businesses hiring again, the best thing Obama could do tomorrow morning is announce he's firing himself.
Anyway, that's...
My Two Cents...
"JohnHuang2"
That, my friend .. is priceless!
This one single sentence should be sent to every media outlet, every television and radio station .. Everywhere!
I see a Tee shirt in the making! {8-)
All these morons did was spend our future so that they could “do something” about the economy.
They have no idea how wealth is created or maintained and how that relates to the creation or destruction of jobs.
They just see someone with wealth somewhere and want to take it, damn the consequences.
Well here come the consequences...
Me first! I get to say it first.
This is so... unexpected.
I expected it before the undocumented person took office.
There has been NO recovery... we are in a depression and most small businesses will close between now and 2012. Jobs will disappear even faster and the government has nothing left but the lie and more lies. Our money will soon be fiat money... and we may see the end of our Republic if we do not turn America around 180 degrees to the starboard.
LLS
Your comment was better than the NYT article!
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