did he talk about his stimulus projections?...hmmm, maybe not
Posted on 05/07/2010 10:26:16 AM PDT by OldDeckHand
THE PRESIDENT: All right. Good morning, everybody. On what seems like a daily basis, we're barraged with statistics and forecasts and reports and data related to the health of the economy. But from the first days of this administration, amidst the worst economic crisis since the Great Depression, I've said that the truest measure of progress would be whether or not we were creating jobs. That's what matters in people's lives. What matters is whether someone who needs a job can find work -- whether people can provide for their families and save for the future and achieve some measure of economic security.
Everything we've done has been with this goal in mind. And today, I'm happy to report that we received some very encouraging news. In April, the economy added 290,000 jobs, with the vast majority -- approximately 230,000 -- coming from the private sector. This is the largest monthly increase in four years. And we created 121,000 more jobs in February and March than previously estimated, which means we've now seen job growth for four months in a row. These numbers are particularly heartening when you consider where we were a year ago, with an economy in freefall. At the height of the downturn, around the time that I took office, we were losing an average of 750,000 jobs per month.
(Excerpt) Read more at thepage.time.com ...
blah, blah, inherited, blah, blah, when I took office, blah, blah, blah....
Fantastic. And what did you say the unemployment rate was?
Is anybody wondering why the ECB won't step in and buy Treasury securities to help out the situation?
Hmmmm.....
HINT: International bankers
I don’t think he mentioned that little piece of info even once actually.
did he talk about his stimulus projections?...hmmm, maybe not
Truth. The truth is that Jesus Christ is king of King and Lord of Lords. The truth is the Truth, and there is no other Truth. Obama does not know the Truth.
I am beginning to hate them. Families are being destroyed.
Yesterday, your Labor Dept announced 444,000 NEW cases of unemployed folk last week. Today they announce 290,000 jobs created. So... in affirmative action math... You are still 154,000 worse off than the week before...
April, Hussein’s numbers are worse than that. The 444K was for a WEEK. The 290K was for a MONTH.
He is a failure.
The weekly first-time jobless claims number is independent of the monthly unemployment number. They obviously are correlated, but measure two independent variables.
Specifically, the weekly unemployment claims measures how many people lost jobs for that week. It does not measure how many people got jobs for the week. In a healthy economy, the weekly job losses are still in the hundreds of thousands, because every week people lose their jobs.
I researched this before, and I can't remember the exact numbers, but I believe the BEST monthly average of the weekly job loss numbers was around 264,000, and 300,000 is considered a typical week's numbers.
In a good economy, most of these people will get new jobs in a few weeks or a couple of months. It's just ordinary attrition numbers.
That said, the number 440,000 would typically be associated with an economy that was losing jobs. However, it could also indicate an economy in flux, with more job turnover but not necessarily more unemployed people. You can't know the employment situation just by looking at the weekly jobless claims number. That's why we have the Employment number.
The Employment numbers have two components. The first is a measure of the total number of people working, compared to the prior month (and adjusted by seasonal factors which I won't get into here). If this number goes up, it means there are more people working this month than were working last month. Note that over the month, we had about 1.8 million people who lost their jobs (450,000 a week by 4 weeks). But at the same time, apparently about 2.1 million people STARTED working, so the difference was positive, and employment went up. (I don't know the exact numbers).
The 2nd figure is the number of people who are unemployed but are still looking for work, expressed as a percentage of the "work force", which is the addition of those looking for work and those who are working. That number went up from 9.7% to 9.9%.
That means that while 290,000 more people had jobs, more unemployed people started looking for work. This is normal in a recovery -- people give up looking until they hear about new jobs, and then they go back to looking. Another number which isn't official but is helpful in predicting how many workers are poised to re-enter the job search is the "total unemployment number", which tries to include "discouraged job-seekers" who had been working in the recent past but aren't looking for work now. That number is about 17.1% now, which suggests there is about 7.2% of the workforce that is waiting to jump back in. If true, then working off the entire existing 9.7% unemployed could still leave us with 7% unemployment.
No matter how you count it, we'll be years before Obama gets his employment number back to where it was when he took office.
With the flooding across TN, AR and MS, a lot of business will be effected...making these numbers go up next month.
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Telethon thread, and lots more links to other areas hit by the 52 county flooding and 13 small twisters...NO COVERAGE of MS or AR has been done either, and they were hit just as hard with both flash flood and twisters.
http://www.freerepublic.com/focus/f-news/2508747/posts
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Newsweek Offers Offensive Explanation For Why Media Ignored Nashville Flood
Friday, May 07, 2010 1:37:36 PM · 33 of 37
GailA to Nachum
Hickman CO
http://www.youtube.com/watch?v=-rzp-DHQLQA
http://www.youtube.com/watch?v=ORsSPTumm9I
Dyer Co Dyersburg
http://www.youtube.com/watch?v=lBr297p-5Vk
http://www.youtube.com/watch?v=5elxGUYvmQ8
Sumner Co
http://www.youtube.com/watch?v=ShYDrYXs6K0
Clarksville
http://www.youtube.com/watch?v=gG_usIjjGfY
http://www.youtube.com/watch?v=Nk7t8OYyB24
West Tennessee
http://www.youtube.com/watch?v=fIQEQSfYxKc
Jackson, TN
http://www.youtube.com/watch?v=blX4URAWskQ&feature=related
http://www.youtube.com/watch?v=niwnoAHcl-U&feature=related
Rebel Cove
http://www.youtube.com/watch?v=PPh0vVoAYek&feature=related
Humboldt, TN
http://www.youtube.com/watch?v=kPJZDrU1S_w&feature=related
Millington, TN
http://www.youtube.com/watch?v=_VrIVHym7PQ
NG responds to AR & TN
http://www.youtube.com/watch?v=9BkKa9NoTNg
I can not for the life of me understand why ANYONE would ever spend a second listening to mac daddy.
“If his lips are moving, it’s a lie”.
I heard that DumBO was going to speak at the press briefing about the unemployment numbers, but, I did not get the timing of the announcement. Was it before or after the 1000 point dip in the Dow?
Those remarks are dated 11:06 EDT. I assume that's when he gave them, but I didn't see it, so I don't know for sure. I believe the market went down, came up a bit before he spoke, and have subsequently gone back down again, FWIW.
Not being sure of the time line, I think DumBO was going to grand stand in front of the press with his spin on how great the unemployment numbers were. But, with the market tanking, he (I use the term he with absolutely no confidence he makes any decisions) decided not to face the press where they could question his obvious lie that the economy was working, and, just issued a statement.
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