For the Thirtieth Time, the Obama Administration Admonishes Voters Not to Read Too Much into One Month’s Jobs Numbers

[Draggingtree]

Red State:

For the Thirtieth Time, the Obama Administration Admonishes Voters Not to Read Too Much into One Month’s Jobs Numbers

 

 

Posted by Jeff Emanuel (Diary)

Friday, July 6th at 8:19PM EDT

10 Comments

In case you missed it, the June jobs report is out, and the numbers are not good (though the Obama administration had a ready-made – and well-worn – excuse ready to go at a moment’s notice; more on that below).

As Daniel Horowitz wrote here this morning:

The headline number of the establishment survey is that only 80,000 net jobs were created last month, about 100k under the requisite amount to accommodate the population increase. The working-age population grew by 189k in June, according to the household survey. As such, there are now 29 thousand more unemployed than there were last month. The U6 rate also ticked up to 14.9%.

Also, the labor participation rate and population-employment ration remain near all-time lows. There are now 1.82 million more people not in the labor force now than just 12 months ago. If you go back to January 2009, the month Obama took office, that number is a whopping 5.48 million! This comes after several months of dismal jobs reports. We’ve been averaging just 75,000 new jobs over the past three months. What about minorities? According to the household survey, unemployment among blacks ticked up almost a full point to 14.4%.

There’s no question that these numbers are, to put it plainly, abysmal. Further, coming as they do three and a half years into the Barack Obama’s presidency, it would be pretty safe to take this jobs report (along with those that have preceded it) as a reflection of this administration’s economic policies, which clearly haven’t put people back to work in any meaningful numbers since it began.

US Unemployment Rate data by YCharts

Read More http://www.redstate.com/jeff_emanuel/2012/07/06/for-the-thirtieth-time-the-obama-administration-admonishes-voters-not-to-read-too-much-into-one-months-jobs-numbers/

[Pepper]

Good article, @Draggingtree !

 

If you go out five years you can see this started with the Democrats taking over the Sen and House in 2007

 

 

 

 

Here's ten years

 

[Pepper]

December 2009, 12 months after The Won is in office, prosperity is just around the corner.

 

 

 

 

"Therefore, it is important not to read too much into any one monthly report, positive or negative. But, it is clear we are moving in the right direction." -- Christina Romer

[NCTexan]

"the Obama Administration Admonishes Voters Not to Read"

 

This is the prayer of Obama and The Left in general.

 

Better to stick with bumper sticker mental doctrine and Kool Aid followers.

 

"We are the 99%"

[Pepper]

@NCTexan

 

""the Obama Administration Admonishes Voters Not to Read"

 

"the Obama Administration Admonishes Voters Not to Think"

 

"the Obama Administration Admonishes Voters Not to Work"

 

"the Obama Administration Admonishes Voters to Blame Bush"

 

"the Obama Administration Admonishes Voters Stay Home if They are Voting Republican"

[Draggingtree]

Stop with the “I inherited a bad economy” excuse, says …

 

posted at 10:01 am on July 7, 2012 by Ed Morrissey

 

For more than three years, Barack Obama has whined about having inherited a bad economy whenever data shows the consistent stagnation wrought by his economic policies. Regardless of how bad the recession is, Obamanomics has produced the worst recovery in the post-World War II period, as the data from the Minneapolis Federal Reserve shows (see update below):

 

 

 

 

Conservatives ran out of patience a long time ago with the “I inherited a bad economy” excuse, but it’s not just conservatives who find themselves tired of Obama’s pat response. Robert Reich scolded Obama yesterday on the pages of the Huffington Post, writing that the excuse is “wearing thin” and that this is Obama’s economy:

Unemployment for June is stuck at 8.2 percent, the same as in May. And only 80,000 new jobs were added.

Remember, 125,000 news jobs are needed just to keep up with the increase in the population of Americans who need jobs. That means the jobs situation continues to worsen.

The average of 75,000 new jobs created in April, May and June contrasts sharply with the 226,000 new jobs created in January, February and March.

In Ohio yesterday, Obama reiterated that he had inherited the worst economy since the Great Depression. That’s true. But the excuse is wearing thin. It’s his economy now, and most voters don’t care what he inherited.

That isn’t the limit of criticism coming from Bill Clinton’s former Labor Secretary, either. Reich questions whether Obama actually understands the depth of the economic crisis into which he’s steered the nation, and calls his policy proposals to deal with it “miniatures” in ratio to the problems. Granted, Reich wants a policy response that would rely on government spending that would dwarf the failed 2009 Porkulus bill, but clearly Obama isn’t impressing him at all on economics.

Everyone understands just how bad the recession was. That was four years ago. The recovery began more than three years ago, and it hasn’t dented the real jobless numbers — the millions who Read More http://hotair.com/archives/2012/07/07/stop-with-the-i-inherited-a-bad-economy-excuse-says/

[Draggingtree]

December 2009, 12 months after The Won is in office, prosperity is just around the corner.

 

 

 

 

"Therefore, it is important not to read too much into any one monthly report, positive or negative. But, it is clear we are moving in the right direction." -- Christina Romer

Latest ADP Jobs Report Confirms Slowing Economy

 

 

Written by Bob Adelmann

 

 

Looking behind the numbers Thursday's ADP report reveals an economy that is flat-lined, heading into recession.

 

When June’s numbers are compared to January’s, ADP’s total nonfarm private jobs growth has increased from 110 million to 110.9 million, a gain of 77-100ths of one percent, or about 142,000 new jobs each month. A closer look reveals that most of those jobs were in the highly volatile service sector, in small businesses, usually fast-food or similar businesses, known for their high turnover. In fact, the goods-producing sector gained just one half of one percent employment since January, translating into less than 16,000 job gains each month. These numbers are hardly a “hopeful sign,” but more reflective of an economy that has flat lined.

 

Snip http://www.thenewame...slowing-economy

[clearvision]