Skip to comments.Obama's Dismal Jobs Number
Posted on 07/06/2012 2:00:29 PM PDT by morethanright
By Mr. Curmudgeon
Here we are, at the midpoint of 2012, and unemployment - thanks to stimulus spending (and borrowed Chinese money) - stands at 5.6%. No, wait a minute, it's not! That was the rosy prediction by the smartest man on the planet back in 2009 - Barack Obama.
Friday's jobs report failed to move U.S. unemployment below its three-month 8.2% level. Of course, that Department of Labor Statistics' figure (classified U-3) does not include Americans who have run through their unemployment benefits and still cannot find work. The more accurate U-6 figure puts real U.S joblessness at 14.8%.
The smartest man on the planet greeted the news with upbeat enthusiasm, describing Friday's job numbers as a "step in the right direction." Needless to say, his remarks dovetail nicely with his previous statement declaring that the "private sector is doing fine."
That "fine" private sector produced a measly 80,000 jobs in May. To support Americas' growing population, our economy would have to produce around 250,000 a month.
"This was kind of disastrous," Jeff Savage, officer for Wells Fargo Private Bank, told CNBC, "We're not even keeping up with demographics at this point. This is not going to be liked in the markets.
The Dow Jones Industrials dropped 124 points.
At a campaign stop in Ohio, the smartest man in the world said that when he was elected back in 2008, he "didn't realize we were going to get hit by the worst economic crisis in most of our lifetimes ... for all the progress we've made, we've still got a long way to go."
The president's re-election organ, the New York Times, was uncharacteristically glum, "It is increasingly apparent what the economy will look like when President Obama faces voters in November: pretty much what it looks like today."
The Times is operating under the assumption that the smartest man in the world can't make things any worse than they are already.
They underestimate him.
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The president’s re-election organ, the New York Times, was uncharacteristically glum, “It is increasingly apparent what the economy will look like when President Obama faces voters in November: pretty much what it looks like today.”
The Times is operating under the assumption that the smartest man in the world can’t make things any worse than they are already.
They underestimate him.
I will delight if President Romney keeps saying it was all Obama’s fault. On the other hand, Romney probably won’t have to. I don’t recall Reagan blaming Carter. He just rolled up his sleeves and went to work.
I turned on CNN at lunch to see how bad the job numbers were. Susanne Malveaux was on and promptly stripped off her journalistic ethics and bared her bias for Zero as she prostituted her integrity to rationalize how the bad jobs report was not as bad as it could have been. She interviewed some black professor from Atlanta, who never had an honest job, who explained that the bad jobs report was caused not by Zero, but decades of undefined problems instead. I assumed that he was blaming all the dead presidents and brain dead Carter for those undefined problems. In the corner of the screen, two black reporters were interviewing each other and trying to out-pimp each other to justify the bad job reports as not being Zero’s fault. They should make those “journalists” wear appropriate dress when pimping or prostituting for Zero.
The only thing CNN missed was to have Debbie Syphilis-Test come on with a nasally whining of those nasty GOP people beating up on the Food Stamp President. Can’t have a proper whine fest without Debbie Syphilis-Test.
Super Sector: Total nonfarm
Industry: Total nonfarm
NAICS Code: -
Data Type: ALL EMPLOYEES, THOUSANDS
|P : preliminary
There were more people employed when Obama took office than now.
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