Recovery Summer continues! Thanks Joe for telling us!
Posted on 08/06/2010 6:24:56 AM PDT by Upstate NY Guy
Edited on 08/06/2010 6:32:53 AM PDT by Admin Moderator. [history]
WASHINGTON -- The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum. Nonfarm payrolls fell by 131,000 last month as the rise in private-sector employment was not enough to make up for the government jobs lost, the U.S. Labor Department said Friday. Only 71,000 private-sector jobs were added last month while 143,000 temporary workers on the 2010 census were let go.
(Excerpt) Read more at online.wsj.com ...
And the unemployment rate will be reported at 9.5% even if the real unemployment rate is 18%. The government will do whatever juggling is necessary to ensure that the reported unemployment rate is not in double digits.
I saw a similar graph in John Maudlin’s weekly e letter and it speaks loudly.
To understand the situation and the failure of the media to actually report, study the chart.
Each of the weekly numbers exceeds 400,000 new applications for unemployment insurance. During the winter the number always exceeded 500,000 per week.
To feel the weight of the problem and the serious unstoppable increase in unemployment, integrate the chart. That is, add all the weekly numbers to get the increase in unemployment. You can screw around with a single month but taken as a whole, the rate is at a minimum 1.6 million per month and can easily and truthful be said to be 2 million. Using the chart as unassailable evidence one can say with certainty that fr the last year 12 million jobs have been lost
Here is the source and you can play with it if desired
Recovery Summer is going to become Layoff Fall very soon.
The ‘recovery’ has ‘unexpectedly’ losing ‘momentum’ for about six months now - wink wink, nudge nudge. The media still trying to tell us the story of Great Leader and his policies and how they saved America. This time, people are seeing most of that is pretend.
LOL. Great pic!
“The foundation for employment growth occurs in promising consumer sentiment and confidence readings — both of which continue to be frighteningly low,” Schoenberger said.
Duh!
Can someone please explain how, unemployment was expected to be 9.6% job creation was supposed to be 90,000,and buisness shed double the estimate at 171,000, but the unemployment number remains at 8.5%? Maybe it’s the new math, or someones cooking the books.
Frankly, I hope the label sticks. I DO NOT want a depression. But when the numbers say we are in a depression, I hope every republican stategist and pundit crys, "Obama Depression". Pay backs are a ......
Can someone please explain how, unemployment was expected to be 9.6% job creation was supposed to be 90,000,and buisness shed double the estimate at 131,000, but the unemployment number remains at 9.5%? Maybe it’s the new math, or someones cooking the books.
Oops bad eyes
Census workers hanger 'round my door.
I don't wanna see their face no more.
We don't need your bailout schemes.
We don't need welfare scenes.
I had one of those once, who, in her office, was lecturing me about how "All white males need to pay for centuries of oppression".
It caused an interesting private conversation with myself at the time..
(Measuring the distance between her throat and my foot):
"It's not worth it."
"It IS!! It IS!!! DO IT!! DO IT NOW!!!"
"And then what? Say it was an accident??"
"That's IT! 'She fell or something...'"
In reality just because your unemployment runs out does’nt mean you no longer have rent to pay, need food to feed your family,bills. Maybe 1% of persons runnng out of unemployment can find a way to give up looking for work for a short time but the other 99% is still out there trying to find ANY job to suppport the family. This is just the goverment playing with the numbers to make it look like they are doing something.
And you know that just as last month’s 83K was lowered to 31K this month, next month they’ll say that the 71K they thought was added in July was really 25K or around that. Of course, that will be in the small print.
It’s amazing he gets away with this. When Bush was President the unemployment rate was 4.5% and the media and the dems were attacking him daily about the worst economy since Hoover.
Every single metric(unemployment, deficit, debt, gdp growth, etc...)is all much worse under Obama than it was under Bush.
I wouldn’t be shocked if someone is playing with that 9.5% unemployment figure, either. It seems almost impossible that the economy could lose 350,000 jobs the past two months and the unemployment rate would remain the same. In any event when you round 9.5 you go up to 10 and unemployment has been at 10 for a year now.
The lame excuses re so called higher than expected unemployment and lower than expected new hires bs are getting very old.
Since Memorial Day, I have been asking everyone, who I come in contact with and who is in the position of hiring in person, on the phone or on the internet if they are hiring “new” full time people for new positions in their company as the economy “recovers”!
This unofficial polling has run from 3 people asked a week to as high as 20.
I have yet to hear from a single person that they have hired a new full time employee to because the economy or their business has improved. A few have replaced a critical/needed employee, who left the company, retired, died or whatever, even those actions are rare. The contacts run from the East Coast to the West Coast and include Alaska and Hawaii.
The pattern has been if an employee leaves, the workload is absorbed by the remaining employees or a part timer is hired.
The main reasons behind not hiring new full timers or even replacing a full timer are:
1. The sales/income is not there to justify hiring new people or replacing a full timer.
2. The unknown cost of health care for employees with Obozo Care.
3. The anti business actions of rhetoric of the rats in political offices/power at the local levels to the state and federal levels discourage owners and managers from hiring new full time people.
If an old 71 year Grampa can do the above research and be on target, why can’t the great know it all economists of the left and the mediots be on target?
“Only 71,000 private-sector jobs were added last month”
Given that there are approximately 10,000 incorporated cities and towns in the U.S., that’s an average of 7 jobs per town.
forgot what happens if Oblockhead federally eliminates right to work.
what if everyone and I mean everyone is forced to join their respective guild?
I was going to replace an employee who left. No way will I do this before November and, assuming Republicans take control, the adjournment of this congress before more ecconomic damage is done.
The fact Obama eliminated Romer only speaks volumes to the corruption. She is going to take over one of the printing presses of money.
I suspect it is because the 71 year old Grandpa is looking for the truth and the leftist economists and mediots are trying to figure out how to continue with their lies for a little while longer. I like the way Rush puts it: "These people wake up each day and ask themselves "How do we fool them today?""
By the way, my findings, by way of business contacts, match yours.
The current administration has evidently decided that 9.5% unemployment is the highest rate that it thinks the public will tolerate. Therefore, the rate will never rise above 9.5%. It used to be 10% was thought to be politically untenable.
I hope somebody from Fox News or the Wall Street Journal reads your post. Excellent.
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