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The Spectacle Blog
The June jobs numbers are essentially unchanged from the disappointing May report, with the economy adding just 80,000 new jobs and the unemployment rate holding steady at 8.2 percent. President Obama told supporters this was a “step in the right direction” and his administration cautioned against reading too much into any single jobs report.
The last bit is sage advice. So let’s look at the bigger picture:
- Unemployment has now remained above 8 percent for 41 straight months.
- Obama economic advisers Christina Romer and Jared Bernstein had projected that the $800 billion stimulus would have brought unemployment down to 5.6 percent by now.
- In the 36th month of the Reagan recovery, 209,000 jobs were created to the 80,000 created at the same point in the current recovery.
- When you factor in people who have dropped out of the labor force, unemployment is closer to 15 percent.
- Growth in manufacturing employment is slowing.
The Romney campaign has released a statement showing Obama saying some version of the following after each jobs report since November 2009: “Therefore, it is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available.”
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More Blog Posts by W. James Antle, III
http://spectator.org/blog/2012/07/06/jobs-numbers-in-context
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Butch| 7.6.12 @ 3:01PM
I think I heard or read in the past couple of days that just about as many people went on disability as there were jobs created last month. Another good way of putting the number in context.
spike59| 7.9.12 @ 6:06AM
actually, the number of people who went on disability was even HIGHER
Oldefarte| 7.6.12 @ 3:21PM
As with everything else, he lies! Notice that local employment increased, though not that of states. Amazing! Governments are hiring while the private sector continues its trip to the economic toilet. Also notice that this administration is doing absolutely nothing to try and fix the problems [because they don't want to and wouldn't know how to]. No meetings, no fiscal policy adjustments, nothing. He just grabs his clubs and heads for the greens.....typical!!!!
c. j. acworth| 7.6.12 @ 3:48PM
And once again, the headline scrolling across the top of my monitor reads "Jobs report shows unexpected weakness."
Unexpected by whom, exacty? Not by anyone who has been paying attention the last few years.
Oldefarte| 7.7.12 @ 11:48AM
'....Breitbart.com....ObamaAdmin:Solyndra....Went So Well, Let's Do It in Africa....As today's jobs reports points to America's failing economy, the Obama administration is sending $20 million of your tax dollars to Africa to “help clean energy projects in Africa get started.”As if that weren't bad enough, it's being administered through the notoriously corrupt and inefficient United Nations. According to CNS News, watchdog agency Judicial Watch has come out hard against the plan:Judicial Watch, in a statement, questioned the $20 million plan for Africa at a time when “the U.S. economy remains in shambles and a relentless unemployment crisis grips the nation,” adding that “the allocation comes less than 2 years after the administration dedicated $50 million to replace ‘inefficient cook stoves’ contributing to climate change and deforestation in developing countries.”Rather than allow the private sector to operate freely, this administration is trying to rig the game overseas the same way it tried to domestically. We may never know who ultimately benefits from another cash transference America cannot afford right now.Tom Fitton, the president of Judicial Watch, stated the new $20-million plan “is part of billions and billions of dollars in foreign aid that’s gone for naught in Africa. Africa is worse off after receiving decades of foreign aid than it would have been if it hadn’t."......"
Bob K| 7.7.12 @ 8:56PM
Everybody knows the "bigger picture" except the people who deliver the news day in, day out, 10 times a day on Radio and TV and who are spinning a different line on behalf of the Democrats.
And that is really
Bob K| 7.7.12 @ 8:57PM
Continued from above: "the problem."
axbucxdu| 7.8.12 @ 9:22PM
Perhaps the numbers were artificially suppressed in advance of those overly rosy reports needed immediately prior to November. Like money in a Soros bank.