Posted on 01/08/2010 7:44:39 AM PST by Kartographer
Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can't find jobs.
The sharp drop in the work force -- 661,000 fewer people -- showed that more of the jobless are giving up on their search for work. Once people stop looking for jobs, they are no longer counted among the unemployed.
(Excerpt) Read more at finance.yahoo.com ...
“The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can’t find jobs.”
2 + 2 = 3
Here’s a little trip down memory lane:
In 2005, 2.5 million jobs were created (bls.gov), Nancy Pelosi responded with this gem:
“Today’s anemic jobs numbers confirm that President Bush has still failed to create a single new private-sector job since he became President.” (Rep. Nancy Pelosi, “Pelosi: ‘Today’s Anemic Jobs Numbers Confirm the Administration Has Failed to Create a Single New Private-Sector Job,’” Press Release, 6/3/05)
In 2006, 2.1 million jobs had been created. In her 9/22/06 press release, Nanc Claimed Bush Policies “Favored The Privileged Few At The Expense Of America’s Working Families.” and said that “Democrats Will Restore the Economic Security of America’s Working Families,”
By 2007, 5.7 million jobs had been created under President Bush, Harry Reid said that Bush had a “Shameful History Of Losing American Jobs.” (“Reid: As Unemployment Reaches Two-year High, American Jobs Are The Latest Casualty Of Bush’s Failed Economic Policies,” Press Release, 1/4/08)
According to BLS, 2.8 million jobs have disappeared since this president signed that ‘stimulus’ bill that was supposed to create 3-4 million new jobs, and which then morphed into ‘saved or create’. And which would prevent unemployment from going over 8%. WIth today’s job loss report, unemployment is TEN percent.
And the latest laugher from recovery.org are listings for millions in ‘stimulus’ projects going to ZIP codes which do not exist.
— A great reader post from “Janet Balloon” in the Wall Street Journal 1/8/10
The gooberment lies... what else can one say?
LLS
When the “unemployment hand-out” finally runs out of wellfare money, these unfortunate workers will scream “I need a JOB”. then they “MIGHT” be listed as unembloyed.
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