Posted on 08/02/2013 6:07:04 AM PDT by Mad Dawgg
The U.S. economy added just 162,000 jobs in July, well below expectations and not nearly enough to alter the Federal Reserve’s plan to maintain its easy money policies for the foreseeable future.
The headline unemployment rate fell slightly to 7.4%, according to figures released Friday by the Labor Department, down from 7.6% in June. Economist had predicted an increase of 180,000 jobs and a 7.5% unemployment rate.
(Excerpt) Read more at foxbusiness.com ...
America won’t solve its economic problems until it solves our trade problems.
And only under Obama is over 7% unemployment is considered good news.
Is this the result of his hiring—how many is it—to go door to door and tell families about Obamacare? Many of these are the same who go door to door prior to elections, and take people to the polls.
You won’t see the impact of school starting because everything is reported as seasonally adjusted to account for things exactly like this.
“reported as seasonally adjusted to account for things exactly like this.”
No doubts. But in real life, sales always slow down at the end of summer, even more as Thanksgiving approaches, and then it’s basically nappy time between Thanksgiving and Christmas.
Oh absolutely true. I was just commenting that it won’t show in the numbers.
Point made by Starboard in the original thread on this story:
A ZH poster made the point that in a normal world people would look at this weak number (162K) and say the Fed has been doing everything in their power, yet the numbers after 5 years are still bad.
One thing at this point should be perfectly clear: Trillions of dollars spent by the central planners have failed to improve the economy. We will pay a very high price in the future for this epic failure and the resulting economic distortions.
Except that the mass retirement of baby boomers should be opening up scads of jobs. It would be even better than 1:1 replacement since you’d be replacing experienced, top of wage scale workers with less-skilled workers, so you could afford to hire more than one replacement.
Yep, I know where you’re coming from. It’s the “new math”.
Excellent point, I concede the argument, you are right.
We recognized this as so much Obama bullshit.
” The headline unemployment rate fell slightly to 7.4%”
Times T W O !
I understand what you’re saying LD but Americans get some of the blame in this too. Companies overseas using slave level wages is not free market competition. We conservatives say, “well if they can make it cheaper then they’ve just beat us in the free market “ That’s. BS if it’s serf or slave level workers.
If Americans then buy those cheap items instead of those made by real wages paid to Americans, then regular Americans are partly to blame for lost American jobs. And they’re partly to blame for themselves being paid lower wages. That’s why bringing in illegal workers is so important to Obama and rino corporate cronies. They need serf workers to take low wages to keep the middle class in line
We are being taken down the road to serfdom
I was furloughed last week and may be losing my job.....will have to wait and see. Obozo is doing everything he can do destroy this economy.
Remember: 300K + jobs created a month and less than 6 percent unemployment was the WORST ECONOMY SINCE THE DEPRESSION!
Wasn’t that the lefty mantra? They must really think we have no memories of 5 years ago.
Yeah, there’s that as well as the simple lying fak that as long as the “new hire” number is smaller than the “new file” number there can’t be any possible way the unemployment rate drifts down. It’s not just smoke and mirrors-—more like smoking mirrors.
Why don’t they just get it over and put it at 4.7?
The American people who chose to save $.25 on pens and notebooks over keeping jobs here.
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