Skip to comments.Unemployment Rises, More Quit Looking for Work
Posted on 02/01/2013 8:13:10 AM PST by CincyRichieRich
The economy added 157,000 jobs in January and unemployment rose to 7.9 percent as the economy slowed in the fourth quarter. Unemployment would have been worse had not even more adults -169,000- chosen to join the ranks of those neither working or seeking employment.
Hiring and layoffs tend to lag other economic indicators. GDP fell 0.1 percent in the fourth quarter, fears of a government shutdown slowed consumer spending in December and encouraged businesses to cut inventories. Even if the economy doesn't slip into a recession, unemployment would rocket
(Excerpt) Read more at cnbc.com ...
Nobody seems to notice. Obama’s approval ratings head toward 60%, and the stock market is at 14,000. Amazing stuff. If Obama had an (R) after his name, the “media” would be screaming for heads.
If my eyes don’t deceive me, there’s something going wrong around here...
As long as Baraq, Bernanke, and Lew can keep the gravy flowing based on borrowed money, the populace will at least be pacified.
Once the interest rate dam breaks, it will be a flood of ugliness for most all of us. I really hope in happens in the next 4 years.
They never really like to talk about the weekly 300,000 PLUS people applying for new Unemployment Insurance Compensation when they herald these whopping big <175,000 jobs added MONTHLY, do they?
Let’s see, if you actually compared 1.2 MILLION unemployed/month versus 175,000 jobs....that’s an improving economy, right?
I’m wondering if the delay in processing tax refunds this year isn’t somehow linked to federal cash flow even though IRS is claiming it’s electronic processing issues.
O only gets the credit for ‘good news’
Did I tell you he got Bin Laden?
Drudge is reporting 8,500,000 Americans have left the labor force in the dear leaders first term.
Guess they missed that one also.
Anyone who believes unemployment is 7.9% is seriously deluded.
Here's a flashback to August 2004 when we had a Republican in the White House, and unemployment was at 5.4%:
The Labor Department said the economy created 144,000 jobs in August, the strongest reading since May and up from a revised 73,000 jobs in July. Economists surveyed by Briefing.com had forecast 150,000 new jobs.
The unemployment rate dipped to 5.4 from 5.5 percent in July, mainly due to a decline in the labor force . . .
Roger Altman, senior economic advisor to Kerry, told CNNfn that even with the most recent gain, the administration's job performance has been weak.
"You need about 150,000 new jobs a month to keep even with growth in population," he said. "Taken in proper context, it's just not a very good record."
Top 5 Programming Languages to learn, to get a job in the New Obama Economy!
Number 5. “SQL”
Number 4. “Objective C”
Number 3. “Java”
Number 2. “PHP”
Number 1. Learning to say: “Do you want Fries with that?” in Spanish.
Unemployment has been an illusion since the decision to promote the U3 figures instead of the U6 ones.
‘In the weakest recovery since the Great Depression, most of the reduction in unemployment from its 10.0 percent peak in October 2009 has been accomplished through a significant drop in the percentage of adults working or looking for work. Were adult labor-force participation the same today, the unemployment rate would be 9.9 percent, and were the participation rate the same as when President Obama took office it would be more than 10 percent.
Adding in part time workers who would prefer full employment but can't find it, the unemployment rate becomes 14.4 percent. It rise above 14 percent in the wake of the financial crisis and remains stuck there.’
Imagine if this type of truth was reported in October, OR ANYTIME PRIOR TO THE ELECTION>
The lying ass media propagandists should all be tarred and feathered. Stalin, Hitler and Mao had to threaten journalists with death in order to get them to tow the line. These ass holes willingly sell their soul to the devil for O'Bumbler!
The Democrats do this all the time, Bill Clinton did it during the nineties, they plant economic time bombs to go off when the Republicans are in charge and the Democrats leave power, so the economy will collapse when we have a Republican President again, or if we don’t get one, it’s a win win for the Democrats, they can use the ensuing chaos to take away even more of our freedoms!
“Unemployment has been an illusion since the decision to promote the U3 figures instead of the U6 ones.”
U3 has always been the “official” unemployment rate and the one that is “promoted” in the government’s monthly press release. BLS began reporting U1, U2, U4, U5, and U6 in response to complaints from those who thought the official rate was biased downward, and those who thought the official rate was biased upward. You can pick the one that best suits your ideas about and perceptions of the current state of the labor market.
“Go Galt.” Everyone’s doing it—people from all classes and walks of life. Starve the B. ;-)