Skip to comments.Obama's October Surprise: 41.1 % Spike in Job Layoffs
Posted on 11/01/2012 4:05:23 PM PDT by morethanright
By Mr. Curmudgeon:
Less than a week before Americans decide who will take the presidential oath of office this January 20, the Department of Labor reports that U.S. employers cut 47,724 jobs in the month of October, the highest level in five months. The announced 41.1% spike in job layoffs comes ahead of the much anticipated employment report due out on Friday, which analysts expect will come in at 150,000 for last month. And last week, 363,000 Americans filed for unemployment benefits.
Some economists say America's private-sector economy will have to produce 350,000 jobs per month for three years before U.S. unemployment drops to 6%. Obama's Solyndra-based economic model is not likely to spur that kind of robust growth, and a growing number of Americans now realize this fact.
"The tidal wave of anti-debt, anti-big-government voters that swamped Democrats in the 2010 congressional elections is readying itself again," reported the Washington Times on Thursday, "poised to sweep Mitt Romney into the Oval Office ..."
Republican pollster John McLaughlin told the Times, "The undecided voter is not really undecided. They overwhelmingly disapprove of the job the president has done and will largely vote against the incumbent. It's a hidden vote that will vote against the president."
While many in the mainstream media trumpet polls claiming President Obama leads his Republican challenger Mitt Romney among likely swing-state voters, the Gallup organization reports that Romney leads in early voting 52% to Obama's 45%. Here in battleground Florida where I live, Obama's early-voting tallies are down by 70% compared to 2008.
An electoral tsunami is building and is poised to push hope and change out to sea. That tsunami is due in large part to the Tea Party that organized to fight Obama's dictatorial health care monstrosity, and translated protest anger into an effective electoral machine that ended the careers of big-government, big-spending politicians in both parties.
If four years under the authoritarian thumb of the Obama administration has taught us anything, it's that government power is limited in affecting change for the better. It can dictate the closure of coalmines, block offshore oil exploration and force individuals to pay government health-care premiums as the price of American citizenship, but it has no power to create national prosperity or jobs. Our government, originally chartered to protect "Life, Liberty and the Pursuit of Happiness," has degenerated into nothing more than a mindless spending machine.
Our Progressive masters claimed that surrendering our liberties was a small price to pay in exchange for "security." Today, that price is so high that Washington's freedom-killing-spending-machine must borrow trillions of dollars from communist China to stay afloat. And the Progressive's promised "security" hangs by a flimsy thread.
Obama's October layoff surprise is really no surprise at all. Prosperity and freedom are two sides of the same coin. The only surprise is that a once free people allowed Progressive masterminds to drag the "last best hope of mankind" to the edge of the abyss.
On November 6, Americans begin the hard work of national restoration. And believe me, it's only a beginning.
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I don’t get it, since when are layoffs a good thing and why would this be an Obama surprise?
We’ll know tomorrow morning.
This is the thing that lying and fudged numbers can’t make go away. People being laid off and all their family and friends know it, feel it. O can’t make pretend things are rosy now when the reality on the street says otherwise to people.
The BLS report is based upon two separate surveys. The unemployment number comes from a survey of households. The jobs creation number comes from a survey of businesses. They usually move in tandem which is why there was so much skepticism over the drop in jobs created along with the addition of some 800,000 magically appearing jobs outside of the business survey.
The missing CA numbers were for a unemployment claim report which had the effect of showing unemployment claims numbers dropping when we knew they weren't . Those were corrected (quietly) the next week while nobody was watching.
Tomorrow's jobs created and unemployment rate will most likely show another divergence since they got away with it the first time. I am betting when all is said and done there will be some kind of revelation that the BLS changes the household survey questions to include more low hour part time employment. Mixed messages already coming out include the Gallup unemployment rate dropping and ADP changing the way they account for job creation that led to a horrible September jobs created number.
150,000 jobs is not a recovering economy. It isn't really keeping up with the growth in workers, but don't expect to here that from the media. The unemployment percentage will drop and they will all be cheering about that.