Skip to comments.Jobless Rate Falls to 8.3%, Altering Face of Campaign
Posted on 02/03/2012 10:10:57 PM PST by WilliamIII
WASHINGTON The burst of job growth in January gives President Obama a fresh but tricky opportunity to revise the grim economic narrative of his presidency while offering Mitt Romney a choice: embrace a new optimism or campaign against a sinking economy even as it shows signs of turning around.
The Labor Department reported on Friday that the unemployment rate had fallen all the way back to the level of President Obamas first full month in office, to 8.3 percent, from a high of 10 percent in late 2009. Yet unemployment also remains higher than it has been for any presidential election since the Great Depression.
(Excerpt) Read more at nytimes.com ...
WOW New York Slimes..really..ya serious? 1.2 million people dropped out of the workforce, basically saying screw it and stopped even trying to look for work. Hey maybe 8 million people can stop looking for work the unemployment rate would be what, 2 percent
Interesting labor chart.
You can change the output variable on the x-axis at the top of the page.
Wonder how many were Boomers that were smart enough to get out while the gettin’ is at least still “viable”??
Didn’t Rush say a while back that the administration was going to do this? I would hope the GOP would haul the labor secretary to explain how this economic miracle came to be, but they might be too busy trying to beat conservatives down.
I did. I turn 62 in three days, and I’m done looking for work. Will get my first SS check in mid-April.
Only in the minds of the NYT could a 8.3 unemployment figure be a good thing for Bammy.
The NYT has become nothing but Pravda. Honest reporting has ceased there. To see the “intellectuals” who are Liberal and sip lattes reading the NYT as “news’ is funny.
They live a lie and love to believe it.
Of course this number is crap. over at zerohedge.com there is a whole series of articles on how the BLS fabricated this number. Expect a lot of this in the run up to the election.
As an example they had 1.2 Million people leaving the workforce last month.
Now I'll have to work only THREE jobs to pay for you? You're welcome.
Nothing has changned. The economy is still deep in the tank.
More places are laying off or letting go then are hiring.
The current stat used for unemployment means little. It does not reflect the thousands that has just given up looking for work or been kicked off the UC rolls. And if you lost a fulltime job with benefits and now have a part time job with no benefits you don”t really beleive things are better.
If Obama tries to run on an “improved economy” he will get trashed at the polls
But if Newt Gingrich manages to snag a precious metal asteroid for the USA, it could pay off Social Security for a long time. (I don’t mean that by way of mocking Newt.)
perhaps, but most people will just see the top line #. Same as they did when Bush was in office. Back when Bush and the GOP were taking credit for 4-5% unemployment no one was saying “but if you look at the real #s and count those who stopped looking unemployment is closer to 10%”
Also, it will be tougher for the GOP to run against high unemployment this time than in 2010. In 2010 every Republican could blame Obama and the dems in Congress. It was easy.
Now the GOP controls Congress. If Romney and the GOP runs against the economy and talks about how bad things are that won’t help those running for Congress hold their seats. “The economy’s been horrible the past 2 years, re-elect the GOP House” isn’t a great slogan.
The GOPers in Congress will want to talk about how much better things have gotten since they took over and that’s why they should be re-elected whereas Romney will want to talk about how bad things are under Obama and that’s why he should be elected.
Basically Romney will be at cross-purposes with the down ticket races. It will be tough to connect/harmonize the two positions.
At least on the economy and jobs. I suspect we may see a replay of 96 where the GOP focuses on keeping the House and gaining the Senate instead of the WH if these jobs #s continue.
That’s why we’re fortunate that Romney is such a strong conservative and has many other cards to play besides attacking Obama on the economy and jobs. For instance, a majority of the country disapproves of Obamacare and Romney has just the record to go after him on that. Oh, wait...
Zer0's train wreck rolls on (as planned).
Hope and Change... Tragic.
Countdown until Jackwagon leaves Office: 351 days as of February 4, 2012.
I did. I turn 62 in three days, and Im done looking for work. Will get my first SS check in mid-April.
Good for you! I’ll be 62 in Feb., 2013 and will do the same.
I hope we don’t get screwed and continue to get the checks.
Sheeeeeeeeeeeeeeeeeeeeeeeesh I mean, how stupid do these socialist really think we are anyway!
Stupid is as stupid does! Before the election the socialist and the old media will have the employment rate in the United States of America at full employment!
Americans can not trust nor believe anything that comes out of the old media and this administration, it is election year and will say and do anything to get this turd in the WH reelected
NY Times lost $39Million.
Keep up the communist propaganda NYT!
This paper and Zero are going down.
FU sonny. I have never believed in SS. It's compulsory government confiscation of my and my employer's earnings. If I had been allowed to invest FICA in my personal accounts in the private sector, I'd have almost matched my private investment holdings.
If you can't figure out that strategy, then you should take some accounting and finance classes. Furthermore, reserve your smarmy comments for the government.