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Jobs Report: OK, Now You Can Panic
BNET - The CBS Interactive Business Network ^ | July 8, 2011 | Alain Sherter

Posted on 07/08/2011 4:23:33 PM PDT by 2ndDivisionVet

The jobs “blip” is officially a bleep. After unemployment rose in May, government officials blamed temporary factors, like nasty weather, soaring gas prices and Sarah Palin’s political career. Nice try. Today’s labor report has the jobless rate ticking up to 9.2 percent. The numbers are alarmingly bad:

The economy created an anemic 18,000 jobs, when at least 125,000 per month are needed just to match the number of new people entering the labor market The private sector created only 57,000 jobs The federal government lost 14,000 jobs, while local governments shed 18,000 positions Over the last two months, the economy has produced an average of only 87,000 jobs, lower than the Labor Department had previously forecast.

The share of the working-age population that has a job fell to 58.2 percent, matching the low reached in December 2009 and November 2010.

The average period of unemployment hit a record high of 39.9 weeks.

Average hourly earnings for all private nonfarm employees declined 1 percent, with wages up a meager 1.9 percent over the last 12 months.

More than 250,000 Americans gave up looking for work.

Perhaps the scariest part: Not a single industry showed strong employment growth. Not health care, where formerly robust job-creation appears to be slowing. Not retail. Not manufacturing or construction. Not restaurants. Not even financial services, where healthy corporate profits might’ve been expected to drive hiring; the sector ditched 15,000 jobs, erasing a small gain in May. Says economist Dean Baker:

On the whole, this is one of the most negative employment reports since the recovery began. It indicates that the economy has made no progress whatsoever in re-employing the people who lost their jobs in the downturn....

(Excerpt) Read more at bnet.com ...


TOPICS: Business/Economy; Editorial; Government; News/Current Events
KEYWORDS: democrats; economy; jobs; obama; obamaeconomy; palin; unemployment
We'll be lucky to make it through his first term as a first-world nation.
1 posted on 07/08/2011 4:23:36 PM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

“The economy created an anemic 18,000 jobs”

I’m surprised we even got that many with this out of control government. Although, the May number was wrong, so this one likely is wrong as well.


2 posted on 07/08/2011 4:27:47 PM PDT by dajeeps
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To: 2ndDivisionVet

“On the whole, this is one of the most negative employment reports since the recovery began.”

Really? *Snort* Nothing but newspeak. Ain’t no recovery, folks.


3 posted on 07/08/2011 4:30:57 PM PDT by refreshed
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To: dajeeps

18,000 jobs in a nation of 330 million people is so insignificant as to not even matter, even if it is true. Most of those were probably in Texas.


4 posted on 07/08/2011 4:31:09 PM PDT by 2ndDivisionVet (I'll raise $2million for Gov. Sarah Palin. What'll you do?)
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To: 2ndDivisionVet

If we’re lucky, no Dems will get reelected in Nov. 2012. : )


5 posted on 07/08/2011 4:32:06 PM PDT by mia
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To: refreshed

6 posted on 07/08/2011 4:33:20 PM PDT by 2ndDivisionVet (I'll raise $2million for Gov. Sarah Palin. What'll you do?)
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To: 2ndDivisionVet
On the way to his speech today. I think this picture tells a real story.


7 posted on 07/08/2011 4:37:56 PM PDT by nascarnation
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To: 2ndDivisionVet

It hits the fan in September, when it finally dawns on last spring’s college graduates that if it hasn’t happened by now it isn’t going to very soon and that it’s too late to go back to school this year. 0bama will blame Bush. They won’t.


8 posted on 07/08/2011 4:40:05 PM PDT by Billthedrill
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To: 2ndDivisionVet

Something about “It’s the economy stupid.” Trying to recall where I heard that. Just can’t remember. Just out of memory range. Give me time, I’m sure I will place it. Just need time.


9 posted on 07/08/2011 4:41:41 PM PDT by Enterprise ("Those who can make you believe absurdities can make you commit atrocities." Voltaire)
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To: nascarnation

Mmmmmm, nice catch, and yes it is a picture that speaks volumes.


10 posted on 07/08/2011 4:46:27 PM PDT by Lexinom
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To: Billthedrill


11 posted on 07/08/2011 4:48:01 PM PDT by Colonial Warrior (Never approach a bull from the front, a horse from the rear, or a fool from any direction.)
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To: 2ndDivisionVet
America is now like a ship without a rudder or a qualified Captain. The scary thing is that there are still sizable groups of people who would vote to continue this madness.

Run, Sarah, RUN.

12 posted on 07/08/2011 4:51:15 PM PDT by JPG (Elect Sarah Palin in '12. America won't get another chance.)
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To: Billthedrill
The dopey changey classes of 2008 and 2009 might have initially bought the crap that it's Bush's fault. Now, as you suggest, things might be a bit more clear. The classes of 2008, 2009, 2010, 2011, and 2012 might not be too impressed with the "one" anymore. Yeah, he's cool. He's the President, but in the meantime college kids still live at home. No change, no job, no offers, no hope.

Ironically, if they vote for Obama again, they vote for the status quo. But if they vote against Obama, it will because they are hoping for change. REAL change.

13 posted on 07/08/2011 4:53:10 PM PDT by Enterprise ("Those who can make you believe absurdities can make you commit atrocities." Voltaire)
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To: nascarnation

I actually pity him, poor lost fool.


14 posted on 07/08/2011 4:55:56 PM PDT by ViLaLuz (2 Chronicles 7:14)
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To: JPG
America is now like a ship without a rudder or a qualified Captain. ..

0bama is running our ship of state like Captain Northstar was running that ship that was intercepted by the Greek Coastguard a few days ago...

15 posted on 07/08/2011 4:59:02 PM PDT by C210N (0bama, Making the US safe for Global Marxism)
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To: ViLaLuz

Save your pity for the nation.


16 posted on 07/08/2011 5:00:16 PM PDT by WHBates
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To: 2ndDivisionVet
The federal government lost 14,000 jobs, while local governments shed 18,000 positions Over the last two months,

Two rays of sunlight at least.

Maybe those numbers will double next month, bring more good news.

17 posted on 07/08/2011 5:09:43 PM PDT by Balding_Eagle
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To: 2ndDivisionVet

See BS??? Going outside to check for pork in the treetops ...


18 posted on 07/08/2011 5:32:14 PM PDT by NonValueAdded (From her lips to the voters' ears: Debbie Wasserman Schultz: "We own the economy" June 15, 2011)
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To: ViLaLuz
I actually pity him, poor lost fool.a

I might, too, if it were only his own house he was destroying. As it is, his idiotic ideological attempts to "transform" America, have brought nothing but decay and rot to every American doorstep.

I hate this punk with a passion I can hardly describe.

19 posted on 07/08/2011 5:41:20 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: 2ndDivisionVet

Does anyone really believe the country is going to maintain the workforce of an innovative, high tech economy in the future - after boomers all retire and whites are a diversity hated and scape-goated minority?

Whereas we have seen what happens in cities when the population quotas tip, we are going to get to see what happens in the Nation when race quotas tip. Just like no one can fix the urban mess in our cities, no one is going to be able to fix the new urban nation either.


20 posted on 07/08/2011 6:06:50 PM PDT by SaraJohnson
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To: All
On the whole, this is one of the most negative employment reports since the recovery began.

Photobucket

21 posted on 07/08/2011 6:12:27 PM PDT by Doofer
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To: 2ndDivisionVet

Did you notice Sherter is basically a Commiecrat?; he thinks Boehner’s responsible for what’s been going on.


22 posted on 07/08/2011 6:15:35 PM PDT by gusopol3
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To: dajeeps

More illegals arrived over the open border than jobs created.


23 posted on 07/08/2011 6:16:04 PM PDT by SaraJohnson
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To: SaraJohnson
Does anyone really believe the country is going to maintain the workforce of an innovative, high tech economy in the future - after boomers all retire and whites are a diversity hated and scape-goated minority?

Turn people loose in the US of the Constitution and anything's possible.

24 posted on 07/08/2011 6:51:26 PM PDT by the invisib1e hand (Lovers ARE fighters)
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To: 2ndDivisionVet
From the 2010 Recovery Summer to the 2011 Discovery Summer.
25 posted on 07/08/2011 7:04:16 PM PDT by seowulf ("If you write a whole line of zeroes, it's still---nothing"...Kira Alexandrovna Argounova)
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To: mia

Why is it that, during the Bush administration, everything that happened was Bush’s fault? And even since then, many things are still blamed on Bush and his policies.

But, any bad news during the Obama administration is never the fault of Obama’s policies. It’s always explained away. With the economy, it’s always blamed on weather, shovel ready jobs not being really shovel ready, economists not understanding how serious this was and not communicating same to Obama, business uncertainty about what lies ahead, carryover from the Bush era, but never blamed on the policies of Obama. Why is this??????


26 posted on 07/08/2011 7:05:31 PM PDT by Dilbert San Diego
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To: dajeeps

The initial report is always phony. It will be revised later when they think nobody is paying attention.


27 posted on 07/08/2011 8:16:20 PM PDT by Pining_4_TX ( The state is the great fiction by which everybody seeks to live at the expense of everybody else. ~)
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To: Dilbert San Diego

That is true and it’s because the legacy media are largely Democrat house organs that survived the Depression. Most Republican newspapers didn’t survive, and the journ-o-lists that emerged from the rubble built the schools of journalism, as well as the publishing and television news industries.


28 posted on 07/08/2011 8:25:25 PM PDT by TenthAmendmentChampion (Darwinism is to Genesis as Global Warming is to Revelations.)
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To: TenthAmendmentChampion
That is true and it’s because the legacy media are largely Democrat house organs that survived the Depression.

Take a trip to Hearst Castle sometime. That was the home of the newspaper publisher who made so much money he could build a house so far from everywhere that he could look in all directions and not see another dwelling. In fact, he owned all of the land that he could see in all directions except West. He used to invite Hollywood stars to stay at his home, with everything provided for them, at no cost. Only problem, they had to go to dinner every evening with him. Filthy rich Democrat, always for the "working man." But every champion of the working man has to have gold-plated plumbing and a staff of servants.

29 posted on 07/08/2011 11:07:01 PM PDT by webheart (Just saying.....)
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To: gusopol3; 2ndDivisionVet

It’s a weird article. The author doesn’t have any ideas of his own as far as what to do. He desperately wants to blame Republicans but he can’t come out and demand more stimulus spending. His leftist god has failed and he is adrift.

He’s a liberal through-and-through but his worldview is cracking and crumbling around him and he hasn’t decided what to replace it with yet.


30 posted on 07/09/2011 12:30:49 AM PDT by sinanju
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To: Dilbert San Diego

It’s too bad the average person is unaware that the media plays a major role in politics and policies. It will be an uphill battle to get real government reform in this country because of the media. They are sooooooooo in the back and front pocket of the Dems.


31 posted on 07/09/2011 10:01:41 AM PDT by mia
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