Posted on 09/06/2012 2:22:53 PM PDT by NormsRevenge
Fresh figures on the US jobs market come out Friday, with a lot more than usual riding on them: new stimulus from Federal Reserve, and the poll numbers for President Barack Obama as he fights to keep his job.
With the employment situation stagnant this year -- the jobless rate is stuck at a high 8.3 percent -- the new data for August could say a lot about the strength of the economy, as it weathers a global downturn and a domestic stalemate on economic policy.
Chances are, economists say, the numbers will fall in the tepid range of July. The 163,000 net jobs created in July was more than double the average for a dismal April-June, giving some hope for a rebound.
But in fact it was barely above the average of 2011-2012, and far below the 200,000-plus level of December-February, when confidence was running high.
"At this point in the economic cycle, the economy should be generating over 250,000 new jobs each month," pointed out Fred Dickson at DA Davidson & Co.
Analysts are predicting 130,000 new jobs, slightly below average for the year, with the jobless rate hanging at 8.3 percent. That would serve as confirmation that the economy has modest strength, but not enough to have a rapid and lasting impact on overall unemployment.
The numbers come two months before voters go to the polls in a presidential election seen as a referendum on Obama's economic stewardship, especially whether he could have done better pulling the country out of recession.
Republican challenger Mitt Romney argues that the high level of officially unemployed as well as labor force dropouts, more than 19 million Americans combined, is evidence that Obama has failed.
(Excerpt) Read more at finance.yahoo.com ...
ADP number today was a strong 200,000.
Anything above 200,000 would help Obama, but below that would be “meh”. below 100,000 would be a ‘surprise’ to the downside.
Most everyone has already factored in the economy, and most know it stinks. Next comes the debates, which will factor into the equation as to how people vote; however, it will still all come down to the economy, and one month’s figures at this point won’t make a difference one way or the other. It’s too late or that. The die is cast; Obama is on his way out the door.
It’s too late for that, above. Typo.
Which, as Rush pointed out, are gonna be cooked more thoroughly than Thanksgiving Dinner warmed over twice.
“Obama`s fate...”
Also the fate of those at the Department of Labor. The BLS has its marching orders. Look for a “stunningly” high NFP number tomorrow.. probably along the lines of 270K or higher with a rate drop to 8.1%. They`ll simply “adjust” them ..quietly.. at the end of September.
And I`m betting 0bama already has tomorrow`s figures in hand.
Of course, those numbers will be laughably outlandish and certainly not in any way in correlation with reality, but hey.. it`s election time and BLS bureaucrats want to eat, too.
Now this P!$$E$ me clean off.
There are TWO issues the STUPID PARTY (aka GOP) needs to TRUMPET FROM THE MOUNTAIN TOP.
Two, only two, and then just KISS! (keep it simple stupid)
Those two issues: THE PRICE OF GAS AND THE PRICE OF FOOD.
If the Stupid Party would do nothing but parrot “Price of Gas, Price of Food” every time they are in front of a camera or microphone, the press would HAVE to address the issue like they did with “W”. During the Bush admin, every time gas moved a penny, it was headline news.
Why is everyone SO EFFIN QUIET NOW??
If the Stupid Party wasn’t so mofoin STUPID, they would say nothing but “PRICE OF GAS, PRICE OF FOOD.”
But then again, they won’t, because they really are STUPID.
One would think it’s quite a gamble...until one realizes Obummer’s own labor department is cooking the books.
The GOPers have been trying to drive those points home, but the sheeple have already been directed by the propaganda outlets not to blame 0bama.
I predict an Obamugabenomics miracle...the unemployment rate will dip to 7.8%, and the new “We’re on our way!” commercials for the regime will begin airing at 8:40 am tomorrow...since the numbers are released at 8:30 am.
Gallup predicted a few weeks ago that the BLS rate for August will likely stay the same or increase slightly: http://behavioraleconomy.gallup.com/2012/08/august-unemployment-not-looking-good.html
We’ll just have to wait until tomorrow morning to find out.
These numbers are published by the Obama admin, and they are always faked when they first come out. (A correction is quietly released later.)
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