Where are the jobs, jobs, jobs?

Oct. 7, 2012

Katy Grimes: Friday morning the latest monthly jobs reportwas released by the Bureau of Labor Statistics. “The unemployment rate decreased to 7.8 percent in September, and total nonfarm payroll employment rose by 114,000, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care and in transportation and warehousing but changed little in most other major industries,” the BLS reported.

Despite the positive spin being used by the White House and compliant media, these are the facts: We created fewer jobs in in America during September than in August, and fewer jobs in August than in July. More than 600,000 manufacturing jobs have been lost in the U.S. just since President Obama took office.  The real unemployment rate would be closer to 11 percent if it weren’t for all of the people who have stopped looking for work and completely dropped out of the labor force.

The results of the last four years are a tough pill to swallow: 23 million Americans are struggling to look for any work, nearly one in six are living in poverty, and 47 million people are dependent on food stamps to feed themselves and their families.

One of the best commentaries I found about the jobs report was on Instapundit:

JEFF CARTER: Some Quick Thoughts on Unemployment. “No, I don’t think the number was manipulated. Was it correct? I doubt it. When are government statistics correct the first time they are released? Crop reports are never right, and private estimates of crop size are generally closer. . . . I always discount the headline number anyway. U-6 didn’t budge. The headline number probably can be explained by technicalities over counting part time workers. But what worries me is the macro situation we have. 114K of non-farm jobs is pitiful. America needs to create over 300k jobs per month to really dent our employment problems. Additionally, GDP is more pitiful than the employment statistics. America needs 3-3.5% growth to keep moving ahead, creating wealth and more importantly, being ahead of inflation. At lower than 2% growth we are gradually becoming a nation of paupers.”

“They’ll turn us all into beggars ’cause they’re easier to please,” wrote Glenn Reynolds.

The bottom line is that America needs to create more than 300,000 jobs per month to really begin with improvement to our employment problems. Until that happens, things are not looking up.

6 comments

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  1. us citizen
    us citizen 7 October, 2012, 09:25

    BO or his people will lie out their teeth because they know they have botched this economy up even more than it was.

    Reply this comment
  2. Queed
    Queed 7 October, 2012, 10:29

    High school is puff time…liberal arts….same in college.

    Calif is loaded with experts in diversity studies, learning to be a consuming dummy, keyboarding masters ala liquor stores.

    Reply this comment
  3. Rex the Wonder Dog!
    Rex the Wonder Dog! 7 October, 2012, 21:09

    Teddy-you misspelled Queeg’s name again

    You need to be more careful when you jump between your sock puppets 😉

    Reply this comment
  4. Donkey
    Donkey 7 October, 2012, 21:49

    Rex, Ted is so upset, after watching his deity Obama fail at the feet of the mere mortal Mitt, he no longer has bladder control. How do even expect the troll of many names to keep it together?

    I am going to have a blast watching Biden implode against Ryan. 🙂

    Reply this comment
  5. Donkey
    Donkey 7 October, 2012, 21:50

    “They’ll turn us all into beggars ’cause they’re easier to please,” Great quote Katy!! 🙂

    Reply this comment
  6. Hondo
    Hondo 8 October, 2012, 10:29

    The problem with those numbers is that there should be increased economic activity across the board to create that many new jobs. Our economy should be growing at a rate of at least 5% for the quarter to create that many new jobs. It was an anemic 1.5% last time I heard. And the retail sales certianly should be way up to employ that many people. Those numbers just aren’t there. Manufacturing would create full time jobs and these are part time. And Manufacturing is way down anyways.
    When you look at Reagan’s job growth in the 80’s you see the economy growing at above 5%.
    The only possiblity would be the huge increase in political spending which is huge this year. But that is seasonal and shouldn’t be included in these numbers. All those jobs dissapear after November 6th.
    The actual jobs reported to the labor department was 114thou which would INCREASE the unemployment to 8.2%
    These numbers do stink up the joint.
    Hondo……

    Reply this comment

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