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The administration’s sole support for its contention that there has been meaningful job market improvement on its watch rests on one carefully chosen statistic: “The economy has now added private sector jobs for 30 straight months, for a total of 4.6 million jobs during that period.”
That claim is incorrect. It is true that the Establishment Survey at the Bureau of Labor Statistics shows that private-sector employers had 4.63 million more workers in August than they did in February 2010 after seasonal adjustments. However, the BLS’s separate Household Survey tells us that the ranks of the unincorporated self-employed, all of whom are certainly private-sector participants, shrank during that time by 440,000 to a seasonally adjusted 9.46 million, knocking down the administration’s cherry-picked number by 9.5%.
** Full-time employment only increased by 43,000 in August. It’s down (yes, down) by 902,000 since March, and by over 1.4 million since Obama took office.
** 562,000 fewer married men and 700,000 fewer married women were employed in August than were when the recession officially ended in June 2009.
** 22% of the 3.47 million private-sector jobs created since the recession’s end have been at temporary help services.
** What about what the new jobs created actually pay? The National Employment Law Project recently reported that “Lower-wage occupations were 21 percent of recession (job) losses, but 58 percent of recovery growth. Mid-wage occupations were 60 percent of recession losses, but only 22 percent of recovery growth.” The leftists at the NELP wouldn’t state the obvious, so I will: Their research proves that the Obama administration’s economic policies are gutting the middle class.
Read the rest here.
Obama promised to create 1M more manufacturing jobs over the next 4 years. The problem with this contorted worldview is that the manufacturing sector is already on pace to create 890K jobs over the next 4 years by simply doing what it's doing now in the current economic climate. In other words, the President once again embellished a number that actually would likely have done so on its own whether the President was in office or not.
How's that for mental gymnastics? And his lapdog minions lap it up every single time! LOL
Didn't he also promise we'd have <6% unemployment by now?
None of this seems to matter to some. They believe social issues like gay marriage and voting how the uneducated Hollywood bubble tells us to, take precedent over the economy, national security and the debt.
Didn't he also promise we'd have <6% unemployment by now?
None of this seems to matter to some. They believe social issues like gay marriage and voting how the uneducated Hollywood bubble tells us to, take precedent over the economy, national security and the debt.
Obama said that if we passed his Stimulus Plan, unemployment would be reduced to 5.2% by the end of his term.
Austan Goolsbee said this weekend that the 2009 forecast for UE was 8.2% by the end of 2012. I was wondering when this revision happened and why it wasn't announced to the American people.
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Obama Depression News: Full Time Employment Is Down By Over 1.4 Million Since Obama Took Office
