The unemployment rate hit 9.2% today as more people have been laid off and the sad thing is that the unemployment rate ought to be falling. With travel/vacation destinations hiring, construction due to the natural disasters, farming is hiring and others hiring, the unemployment rate ought to be falling.
But instead, the unemployment rate rising and the future doesn't look promising.
From Yahoo news: U.S. jobs growth ground to a near halt in June as employers hired the fewest workers in nine months, frustrating hopes the economy would bounce back quickly from a slowdown in the first half of the year.
Nonfarm payrolls rose only 18,000, the Labor Department said on Friday. It was the weakest reading since September and below even the most pessimistic forecast in a Reuters poll of economists.
The dismal report, which showed the unemployment rate climbing to a six-month high of 9.2 percent, stood in stark contrast with recent data on manufacturing and retail sales that had shown activity starting to perk up.
"This report has dashed hopes that the economy was about to accelerate again," said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts. "It is showing a much bleaker picture than other indicators and we must hope that it is overstating the extent of the slowdown."
http://finance.yahoo.com/news/Jobs-barely-rise-dashing-rb-264540871.html?x=0&sec=topStories&pos=main&asset=&ccode=
And the White House reaction? From Real Clear Politics: In a condescending way, White House press secretary Jay Carney basically told the press corps the same thing. Carney told ABC News' Jake Tapper that Americans talk to each other about their feelings of the economic situation rather than "analyze the numbers."
"I don’t know where, you know, the voters that some other folks might be talking to — but — or — but most people do not sit around their kitchen table and analyze GDP and unemployment numbers," Carney said. "They do not sit around analyzing The Wall Street Journal or other — or Bloomberg to look at the — you know, analyze the numbers." http://www.realclearpolitics.com/video/2011/07/08/whs_carney_most_people_do_not__analyze_gdp_and_unemployment_numbers.html
Umm, Mr. Carney, people on unemployment talk about the numbers. Most people know someone who is unemployed. This is what people talk about. They also talk about rising food prices, high gas prices (which have gotten better), worrying about living paycheck to paycheck. This is what people are talking about and in just about every case, it is bad news for the White House.
The problem with the White House is that they made things worse, not better. Yes, Obama inherited a fairly bad economy from George Bush. But it's Obama's economy now and has been for the past year and what has he and his aides done? They made things worse. They have shut down large projects, meddled in areas they shouldn't and put out regulations that will guarantee that jobs will be killed.
And the liberals response: "we don't care" and "we want green energy". The liberals and the White House bet the farm on green energy and they crapped out. Now, tens of thousands of Americans are paying the price.
Sunrise — 7:03.
6 hours ago
Job growth is dismal largely because local and state governments are laying people off as "austerity" measures. These are largely favored by Republicans. You may be right, that Obama gets the blame for it all, and doesn't get re-elected. But if the Republicans DO get all branches of government, what do you suppose their plans are to fix everything?
ReplyDeleteIt seems to be: cut spending for the poor, elderly, sick etc. Get rid of entire police departments and other government jobs. Cut school days down to four a week, and shorten the school year. Fire teachers and double up the class rooms. Give more tax breaks to the rich and to corporations. Cut safety regulations for corporations, and continue to give them huge subsidies. Do you think this is going to work, because I think it's INSANITY.
I think if the GOP takes over Congress and president, one of two things will happen.
ReplyDeleteThe first scenario will be what happened in Wisconsin- the conservative agenda got passed.
the more likely scenario is that not much will happen because you still have a bunch of RINO's and the Dem's who can still filibuster. Though I think they will get more done than when the Dem's had total control.
And Jamie, stop repeating the left's talking points, you are much smarter than that.