Posted on 04/05/2013 3:11:19 PM PDT by Libloather
The U.S. economy will face the brunt of massive federal spending cuts just as growth in private sector jobs is plunging, according to government data released Friday.
**SNIP**
The disappointing job growth is the result of weaker performance in critical industries and the steady decline in the government workforce. The Labor Department report showed the U.S. Postal Service alone lost 12,000 positions. Meanwhile, rapidly growing sectors such as health care and construction tempered their gains.
“This is the correction that many have been predicting,” said Stuart Hoffman, chief economist at PNC Financial Services Group.
(Excerpt) Read more at washingtonpost.com ...
The rate dropping is a frickin' miracle.
As soon as everyone else gives up looking for work the rate will drop to zero.
A huge number of people dropped out of teh work force and THEY are not counted...that is why the unemployment rate “appears” to have gone down. It is bogus in the extreme. If you count all who have left the workforce (stopped looking) the real unemployment rate is much much higher!
Exactly
The MSM is rewriting their theme for the 2014 mid term elections from
“best recovery in US history”
to
“would have been the best recovery in US history except for the Republican budget cuts”
Experts set the unemployment at 15% which is low considering the millions that have no jobs.
As short a time ago as February, the Ministry of Plenty had issued a promise (a 'categorical pledge' were the official words) that there would be no reduction of the chocolate ration during 1984. Actually, as Winston was aware, the chocolate ration was to be reduced from thirty grammes to twenty at the end of the present week. All that was needed was to substitute for the original promise a warning that it would probably be necessary to reduce the ration at some time in April.
This whole employment tracking fiasco in this country has become nothing but a big flippin’ joke. A government jobs program for the unemployable. These numbers mean absolutely nothing.
The Sequester is set to cut $1 Trillion over 10 years. For uneducated democrats (I know, it's redundant) that's $100 Billion per year. Divide that by 12 and you come up with a cut of just $8.3 Billion per month.
Our federal spending is set to hit almost $3.7 Trillion this year or $308.3 Billion per month. The sequeeter brings us down to $300 Billion per month or a decease of 2.7%. Thats a rounding error in this government that loses track of 10 times that amount every month.
Democrats just need to get over the sequester (which was the President's idea) and realize the mess we are enduring is the result of having economic idiots living in the White House and holding the gavel in the Senate.
“A huge number of people dropped out of teh work force and THEY are not counted...that is why the unemployment rate “appears” to have gone down. “
Today 1010 WINS in NY actually reported this factoid pretty much as you stated it. I alomost fell over.
Absolutely no one believes these figures, not even the people who are writing the press releases or reporting them. That’s the way things start to rot and collapse, by the way. Ask people from Brezhnev’s administration.
They just parrot the Obama narrative which is that aging baby boomers need to retire in order to open up jobs for younger people. Instead they selfishly forgot to save for retirement, and all you hear is they plan on working until they die. I wish more would leave and open up positions for replacement workers to take over too but I can easily see myself doing the same in 20 or 30 years.
” Instead they selfishly forgot to save for retirement, and all you hear is they plan on working until they die. I wish more would leave and open up positions for replacement workers to take over too but I can easily see myself doing the same in 20 or 30 years.”
Ummm...maybe they blew all their money on wildly price and credential-inflated college degrees for your generation, after taking the kids on vacation every year, and ferrying them around for expensive extracurricular activities!
(NOTE: I have no children, and I don’t know your story - this is about your generation, not you in particular).
And we know what the odds are of that happening.
You know, the drones are going to suffer along with the rest of us, as they deserve, but that doesn't bring me any consolation.
I say right.
However, BOTH parties are selling out America.
Get with it GOP. America needs jobs. Good jobs.
AMERICAN JOBS.
Most low-information voters (read Democrats) will never get this.
Obama could easily attain “full” employment, by...
A new stimulus to get 10 million people to quit looking for work. Each person could get $100,000 and for a total of $1 trillion. What’s a measly trillion dollars nowadays? And, it would be for a good cause, that being his approval rating and the unemployment rate going down. People might even start petitions to keep him as president for life. ;)
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