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I really dont know how the dept of labor can print these stories with a straight face, last week nearly 400,000 people filed for UI, the most in 4 months and we create the fewest jobs in 9 months and the rate drops? At this pace we should be at 0% unemployment by June.
Even worse, eventually the Owebama administration will have to govern without charging 100+ Billion to the national credit card every single month......the pain is coming, = and it wont be pleasant, nor pretty.
According to the Household data, the pool of employed people shrank by 200K, and it looks like Obama threw another 663K on SSDI or other "not in labor force" categories. The participation rate remains at historic lows at 58.5% (41.5% of the potential labor force is not working.) Dismal. Oh well, we have "summer of recovery" attempt #5 coming up.
Contacted on the campaign trail, president Blame announced that he & his staff were reviewing options with respect to laying the blame for this at the feet of someone else in the next few days.
I see they quickly scrubbed the phrase "... a reminder that the recovery will be uneven." (Sanitized for our protection.) Folks, we're in an economic free-fall occasioned by a president and Congress that haven't the faintest clue what drives prosperity.
Of course, as here in the title, unemployment drops to 7.6% is what the MSM will focus on. We'll hear "See the unemployment rate has dropped"
Even though other than the "low information voter" (most that voted for the President) most of us know the job market and economy are beyond dismal, and the administration keeps printing money and turns the conversation to gun control or woman's reproductive rights. MSM ( this means you too Red Star) need to start providing some honest reporting. The "pass" for this administration is over, they need to held accountable. None, I mean none, of their policies are working.
The government counts the people. The government determines the inflation rate. yet, since 1972 when the DFL took power in MN and started the oxymoron called the "Minnesota Miracle", state spending has increased by more than double the population growth plus inflation rate. Ditto at the federal level. Sooner or later, that folly will die, and when it does, the "Great Recession" of the last 4 years will look like the good old days. Bill G.
People under the age of 30 have no idea how great this country USED to be? Obama supporters will NEVER admit he was a mistake. Imagine trying to manage your checkbook when you spend $1,000 a week and you make $500 a week? Doesn't take a rocket scientist to figure out the end result.
What a misleading media headline, by many newspapers including this one: "U.S. economy adds just 88K jobs (bad), BUT rate drops (good?)" (emphasis added). The reason the rate dropped is that so many folks have left the labor market in this tepid/stagnant economy. Headline would've been more objective as "U.S. economy adds just 88K jobs, more workers leave workforce"
There Let's see. Under obama, 400-500 thousand people per month drop out of the workforce or have been unemoployed for more than two years and Obama simply doesn't count them. There are approximately 6-8 MILLION fewer jobs in the economy now than when Obama took office. Sorry people, Obama and Bernanke have damaged this economy to the point where only a crash, and an actual pro-American President will be able to fix this. The United States is too big for the collectivist/socialist/Marxist economy that Obama,Reid, and Pelosi have instituted to succeed.
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