Yup, after all the trillions spent trying to revive our economy using the Barack Obama 4 point economic plan of raising taxes, over-regulating businesses, demonizing corporations that provide jobs, and blaming George W Bush the economy is still not hiring new workers. Imagine my surprise! In what may be his last month as a ‘non lameduck’ President Barack Obama saw the unemployment rate rise once again. Under Barack Obama the unemployment rate went up 18 months out of the 46 months he has been in office. In fact, this is the third time this year the rate has gone up even though Barack Obama claims we are on a long steady economic improvement. Sounds more like we are on a long steady ‘economic malaise’ just as we were under Jimmy Carter.
Regardless of the, yet again, rising unemployment our friends at BlueMassGroup are shouting ‘victory’ over the heads of the bankrupt companies, out of work mothers, and long lines for government handouts. This is somehow all incredibly good news for them.
We have been through this so many times before it is sickening, but they simply do not understand The economy needs 125,000 to 150,000 new jobs every month in order to maintain flat unemployment provided the work force does not grow. When it grows you need more. Well, last month 171,000 new jobs were created, which is measureably more than the 125,000 to 150,000 needed to stay flat. BUT, we had an increase in the number of people in the job market, which caused the unemployment rate to go up. Reminder, in order to get the unemployment rate back down to 6 percent we would need to create about 500,000 to 600,000 jobs per month for the next 4 years. That is the true measure here folks.
According to David at BMG, who has yet to answer EaBo’s call to question Elizabeth Warren’s eligibility to practise law without a license, this is a ‘good jobs report’.
The unemployment rate ticked up from 7.8% to 7.9% because more people rejoined the labor force – per Neil Irwin, the WaPo’s economics reporter, “unemployment rate rose, but for good reason. 578k people joined labor force, only 410k of them found jobs.”
So you see, it is the same argument as for global warming – ‘When it is hot outside it is a sign of global warming, when it is cold outside it is a sign of global warming’. Well when it comes to unemployment ‘When the rate goes DOWN it is a good sign of an Obama recovery, when the rate goes UP it is a good sign of an Obama recovery’.
‘Up is down’, ‘in is out’ and ‘right is wrong’ in the mind of the progressive left. None of their logic helps people get back to work.
Here is something to think about, since Obama took office 8.4 million people joined the ‘working-age’ population. Yet, Obama touts that he has created some 5.4 million jobs. In other words, 3.0 million poeple who may want to work , and are now old enough, CAN’T because there are no jobs… That same link from Forbes also states that Obama’s real unemployment numbers are closer to 14.7% and there is another recession on the way. I wonder how David at BMG can spin that to make his blind mice followers feel good?
Maybe this is the new norm – under Obama! The Obama camp today enjoyed the increase in unemployment as it did not go above 8 percent.
President Obama’s camp touted the second straight month of an unemployment rate below 8%, the only two times that has happened during his administration, as proof that the nation is on the right track.
Any moment now the song ‘Happy Days Are Here Again’ will be heard from the crowds waiting in bread lines across the American heartland.
So here is what it boils down to: We need 500,000 jobs created each month, and we are getting 170,000 jobs each month. We need unemployment to go down and it is going up. We need a President that supports business in whatever form it comes, and we have one that panders to only the ‘green’ industries and demonizes the rest.
The left claims that 500,000 jobs can not be created in a single month, yet under Ronald Reagan (R) it happened more than once, including one time when it was over 1 million new jobs in a month…Over his years as President Ronald Reagan averaged almost 345,000 new jobs per month. Obama is not even close…
We know better!