Posted on 07/08/2011 9:18:19 AM PDT by AngelesCrestHighway
In the wake of Friday's woeful jobs numbers, President Obama acknowledged that "we still have a long way to go and a lot of work to do" before the economy is working for Americans again. "The economy as a whole just isn't producing nearly enough jobs for everybody who's looking," Obama said in prepared comments in the White House Rose Garden. He cited "tough headwinds" that are exerting a drag on the economy, including natural disasters, high gas prices, economic turmoil in Europe, and state and local government budget cuts. The Labor Department reported this morning that the unemployment rate ticked up to 9.2 percent last month, with the economy adding just 18,000 jobs -- even fewer than May's paltry revised figure of 25,000.
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The 'new people' - due to population growth - are not IN the job market. They are seeking to get in.
For thr unemployment statistics to increase, existing workers had to become unemployed.
I'll acquiesce to your position that its a wash. That is the new number of undocumented new workers as yet not in the workforce and seeking to get in, those that were in and are now canned, and those who just plain gave up....
Its a wash.
P.S. I hope you believe - as do I - we're on the same page; you one one, I on the other side.
and wait until they ‘adjust’ this 18,000 figure next month
after reducing the last TWO months by 44,000 each, this could end up being NEGATIVE
For thr unemployment statistics to increase, existing workers had to become unemployed.
I was seeking to reinforce your observation. Since the new 100,000 weren't accounted for in the unemployment statistics, things were even worse than the numbers made them seem.
I believe we're in agreement -- just approaching the problem from two different aspects.
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