Economy: A rip-roarer for job creation and a major drop in the unemployment rate. At least, that´s how the mainstream media sum up November´s job numbers. But scratch the data and a different story surfaces. A lot of pundits thought the November jobs data were pretty good, with 146,000 new jobs and a drop in unemployment to 7.7%. But look closer, and you see recession mode. With nonfarm payrolls swelling by 146,000 and the jobless rate easing from 7.9% to 7.7%, November looked pretty good to many pundits. But the underlying trends aren´t so favorable,
We live in fictitious times with a fictitious president and media. This fictitious establishment takes dreadful U-6 numbers and magically turns them into a "rip-roarer" of job creation. The dumb electorate believes all the fictitious things that their president and his fictitious advisors tell them. My view is that the only ones who suffer from this state of affairs are the dolts who believe it and vote for it. Let them have their useful fictions for the next four years.
Reply 11 - Posted by:
Donna M, 12/8/2012 8:02:49 AM (No. 9054925)
Pretty soon we will have the Obummer version of ´Winterhilfe´ to further deplete the savings of the middle and better-off, after the higher tax rates. Historians of the 1930s will know exactly what I´m referring to, and why.
During Roosevelt and Kennedy the MSM covered up their "lies"..... So what´s new with the MSM today? Nothing....
The most important result of these years is -- WE have the internet and can easily find the truth....
AND -- let´s kick in "common sense"..... It´s Christmas time and part/time jobs are a dime a dozen. Sandy´s construction workers added to this -- but -- there isn´t one friend of mind here in the Heartland that believes the story line. Why -- in Park Ridge -- (where PIAPS grew up) the total population is 37,000. Now multiple that by four and that´s how many jobs were created ------ country wide WE´re talking about....
It´s fairly easy to visualize a company releasing employees earning salaries of $100,000 .... and hiring ´new´ employees to fill those same slots at $60,000. .... I would also be interested in knowing how many of these wondrous 146,000 new jobs are in the retail market, where extra help in always hired at Christmastime.
It´s not that I don´t trust employment-growth reports which come from the Obama administration. s/o
#8 "..Let´s get rid of Boehner for a start…" Amen to that! FoxNews played a tape yesterday of him ´speaking´ about the GOP position on the ´fiscal cliff.´ He was basically reading it from a paper and didn´t even sound like he believed it. We need someone with a passionate belief in a conservative America….and soon.
Mike "Mish" Shedlock details the fraudulent numbers with graphs made by ZeroHedge using BLS data. Upshot-more part time jobs added, less hours per week per worker and of course, another rise in out of labor force drop off´s. The BLS U-6 unemployment rate ROSE to 14.4%. The part time and lower hours nonsense is the new reporting standard that will be used to fool the majority of voters, most of whom are unemployed and on the gummint sugar paps, work for unions or work in state and federal gov´t jobs, all lovers of communism we now know.
The labor force to population rate is as low now as in 2009, the recession´s depth. More ominously, the labor force´s government component has increased greatly, and the private sector has shrunk precipitously, so that a smaller private sector must bear the burdens. After 4 years, Obama has not thought that the deficit might be addressed by putting Americans back to work rather than demonizing and robbing the successful.
"We have nothing to fear but fear itself." The fear that the Republicans in Congress will cave because of their fear of ´bad press´ blaming them for going over the cliff. They are just postponing the fall and the drop gets steaper every time. Stand up to the fear because the press will crucify the right no matter how obvious it is that the left´s freebies drove us there. obama is the president and it is ultimately HIS FAULT ! The republicans just keep giving in and it´s gotten us nowhere but back to the same place . Stop dealing with the liar and cheater in cheif ! The cliff will just point out how many lies like the jobless rate the press have told.
Perhaps most distressing is how so many people refuse to use critical thinking skills when data like this is reported. The Christian radio station we were listening to yesterday cheerfully reported ´a big drop in unemployment´ just in time for Christmas. No thought given about all the people who have dropped out of the labor force, or who are simply working part time retail jobs through the holidays.
Sadly, the majority of Americans don´t know that Lucianne, Investor´s Daily, American Thinker, National Review, or other non-network news outlets exist; they rely on sound bites for information, if they seek it at all. They believe what they want to believe: that Barack Obama is a good American who loves America; that we are not on the brink of financial collapse, and that the government can keep spending like a house on fire to give them what they don´t want to work for. The man in the White House is an unmitigated disaster, but even he is not our worst problem. Wake up, people! All of us are going to pay for this. All of us. We might as well grow up together, starting now. Let´s get to work America!
Just so long as America can be fooled into thinking things are getting better, they are better. Sort of liberal PC statistics. The Baby Boomer approach to the world´s problems: Rename something and the problem is solved: Jigger the statistics and the economy is booming. Objective reality is passe. Fantasy is what will keep us going, right?
BLS revised Sept new jobs numbers down 16,000 and Oct numbers down 33,000. These got shifted to Nov giving a 49,000 job boost in hiring. Presumably, they save the real lost jobs until just after the financial cliff in order to beat the GOP with the numbers.
Any one paying attention for the past four years know that the Labor Department under the leadership of the hack and tax cheat Hilda Solis has cooked the books on unemployment in order to hide the disaster that this regime has been to the economy. When one considers that the average income of the non workers in our nation is $160+ per houshold per day,with no income or payroll taxes, it is easy to see why people drop out of the labor force and vote early and often for their Messiah.
Lookee here! In 1937 FDR was furious that the economy was getting better, and businesses were sitting on the side-lines not hiring. Sitting on cash. so hegot passed a surcharge on income to punish the corps laying off and not hiring. Don´t you think that in 2013 all the corps laying off will get the same surcharge?
Right on # 8. He communicates like he would be better suited to be a mortician. I read an AP article regarding the unemployment rate reduction and the piddly number of added jobs as being "solid" and not mentioning one word regarding the 350,000 who left the labor force. One of the strategic errors the Republicans commited during the campaign is that they did not hammer on how the unemploymnent rate is affected by the number of people who gave up and left the labor market. But then again this is only one of a mirad of errors that cost us the election.
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