New Jobs Report Pummels Obama…

The next to last jobs report prior to the November Election held grim news for the Obama administration:

EXCERPT:

Disaster! Only 96,000 Jobs Added in August

Forget last night’s speech. Forget Clinton’s speech. Forget Romney’s speech. This is what could decide the election.

The economy added only 96,000 jobs in August, the Labor Department just announced, well below the 150,000 or so needed just to keep pace with growth in the work force. Unemployment declined from 8.3 percent to 8.1 percent, but that’s only because people are giving up searching for jobs and leaving the workforce. Since they’re no longer counted, the percent of unemployed declined.

…What’s more, the last few months’ numbers were revised downward. The economy added 141,000 jobs in July compared to the initial report of 163,000, and the lousy June report of 64,000 jobs was cut to 45,000.

And, whoops, manufacturers shed 15,000 jobs, the biggest loss in two years, with more than half the pink slips being handed out in the auto sector.  LINK

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Note that last figure  – 15,000 thousand jobs lost in the manufacturing sector – largest decline in two years.  Many of those are union workers.  And some of those might find themselves sharing much in common with the old Reagan-Democrats of the 1980s who helped give Ronald Reagan massive and historic  electoral victories in two presidential elections.

Democrats had a few days to pretend otherwise, to cheer and clap, and deny God three times – but the reality remains.  Under Barack Obama, the American economy sucks.   -UM

 

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Be courteous to all, but intimate with few, and let those few be well tried before you give them your confidence. -G. Washington

7 Comments to New Jobs Report Pummels Obama…
    • Lynda Fox
    • How do they do this? Only 96,000 jobs added, and, miraculously the unemployment number changes from 8.3 to 8.1? Faux news is all over this “tremendous” news…..they are praising AKA like he IS the messiah……

    • Perceptible Future
    • As Per ZeroHedge: Today’s reported unemployment rate: 8.1%. The reason: the labor “participation” dropped to a 31 year low 63.5% as reported earlier. Of course, this number is pure propaganda, and makes no sense for one simple reason: despite the economic collapse started in December 2007, the US civilian non-institutional population since then has grown by 186,000 people every month on average hitting an all time high of 243,566,000 in August. These people need a job, and the traditional shorthand is that at least 100,000 jobs have the be generated every month for the unemployment rate to merely stay flat, let along improve. So what does one get when one uses the long-term average of the past 30 or so years which happens to be 65.8%? One gets an unemployment number that is 45% higher than the reported 8.1%, or 11.7%. That is what the real unemployment rate is assuming the US labor participation rate was realistic and not manipulated by the BLS cronies and the Bank of Spain assisted Arima-X-13 seasonal adjustment models. It also means that, as the chart below shows, the spread between the real and propaganda data hit an all time record, which was to be expected two months ahead of America’s banker muppet presidential election.

    • Ace
    • The one thing sleazy politicians and their propagandists can never cover up is what is actually happening to people in the real world. Just paid $4.00/gallon this morning.

      It’s over.

    • werbaz neutronName
    • Failed governor Granholm at the DNC podium is a poster child for the failed democrat cabal.

      The interview with Eastwood in the Carmel Pine Cone today puts on in mind for the text of a new attack ad by the other side:

      “HOAX AND CHANGE – OBAMA’S PROMISE TO THE NATION”

    • E.A.B.
    • We saw that a significant number of union members voted for Wisconsin Governor Scott Walker in this year’s recall election. Manufacturing union members who have lost their jobs under Obama may similarly cast their votes for Romney, in defiance of union leaders.

    • bill o'rights
    • Assuming Barry wasn’t part of a Marxist coup (which he is), how many ‘Keynesian’ presidents must demonstrate the failure of this economic philosophy before people wake the f-ck up?

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