Posted on 07/03/2010 12:52:02 AM PDT by JohnHuang2
The economic expansion is sputtering. Private employers added only 83,000 jobs in June, the government said Friday, too few to keep up with growth in the working-age population. The unemployment rate fell to 9.5 percent from 9.7 percent, but only because hundreds of thousands of Americans dropped out of the labor force entirely. Continues...
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"
Have a Happy Independence Day weekend, y’all!
"jobs for people besides Joe Sestak."
Love it!!!!!!!!!!!!
There will be no job and you will da#m well learn to like it... so says 'The One'...
We're in deep, deep economic trouble. And these liberals are going to friggin' sing and dance along, all the way, as they dance off a cliff.
Since Al has done more to stimulate the economy than Obama has, maybe he should be president.
It looks like the biggest event that impacted the monthly unemployment figure was the 600k people who gave up trying to find a job. How can that be construed as good news? Does giving up mean that they committed suicide or are they still unemployed?
What is the REAL unemployment rate if we reverse 18 months of this sleight of hand?
We get things like families merging under one roof to economize, and illegales going back to Mexico.
Make no mistake about it we are going down the right path.
Obama 7/2010
Looks more like the path to the cliff.
Happy Independence Day Weekend to all!
JohnHuang2, thanks for your valuable 2 cents worth! ;-)
With regard to him who sits in the office of president:
“Pray for Obama. Psalm 109:8”
Psalm 109:8
“Let his days be few; and let another take his place of leadership.”
As most informed Americans know, there never was an economic expansion. It was a fictional story generated by AP, WaPo, NY Slimes and other assorted media liars. Now that the bad numbers are outing their fiction, they're being forced to move on in their fictional work to Chapter 2: "The Recovery is Fizzling" or "The Expansion is Sputtering".
Sooner or later actual events in the world of reality put the lie to the fairytale land of Unicorns, Rainbows, and Democrats spun by media Rumpelstiltskins, who spin Obamunist dross into golden bullsh!t.
As most informed Americans know, there never was an economic recovery. It was a fictional story generated by AP, WaPo, NY Slimes and other assorted media liars. Now that the bad numbers are outing their fiction, they're being forced to move on in their fictional work to Chapter 2: "The Recovery is Fizzling" or "The Expansion is Sputtering".
Sooner or later actual events in the world of reality put the lie to the fairytale land of Unicorns, Rainbows, and Democrats spun by media Rumpelstiltskins, who spin Obamunist dross into golden bullsh!t.
You’ve nailed it again!!
and the same to you JohnHuang2!
what job growth..its worse than weak and the stats are probably pumped up to make O look as good as possable..and NO, its not Bush’s fault.
My best estimate, assuming that the Bureau of Labor Statistics’ employment-population ratio is not horribly manipulated, is 24 per cent unemployment. This 24 percent includes professional welfare recipients, who presumably would seek a job if they lost their present means of support (government welfare benefits) and jobs actually existed.
I recently read someone’s opinion that the stimulus money is mostly offshore now. That it was never meant to be used to stimulate our economy, but was a looting party by government pirates who think that our economy is about to sink and that this was their last chance to cash in big.
What can you find out about where the money actually ended up?
As expected...one great article by YOU!
You possess so much of what I’m thinking...but am so totally inept at expressing in my words.
I’ve told you before that I hope you are being paid the big bucks for your writing.
I certainly hope you are...because you speak for me...especially when you are funny. ;o)
I think you need to research Cloward - Piven...
It only takes 39 Standard Missile 3's to destroy Iran's economy. No electricity, no oil or gasoline, no fish or grown food. And no money for nuclear weapons and the power to produce them.
Since it's 4th of July, I would give an ounce of gold to hear an SM-3 missile launch and blow up on target! That is a loud noise!
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