Obama Disaster Continues… Unemployment Holds at 10.0%
Posted by Jim Hoft on Friday, January 8, 2010, 5:38 AM
The Obama disaster continues.
Unemployment held at a record 10.0% in December following the “unexpected loss” of 85,000 jobs.
The Washington Times reported:
The economy lost more jobs than expected in December while the unemployment rate held steady at 10 percent, as a sluggish economic recovery has yet to revive hiring among the nation’s employers.
The Labor Department said Friday that employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected.
A sharp drop in the labor force, a sign more of the jobless are giving up on their search for work, kept the unemployment rate at the same rate as in November. Once people stop looking for jobs, they are no longer counted among the unemployed.
When discouraged workers and part-time workers who would prefer full-time jobs are included, the so-called “underemployment” rate in December rose to 17.3 percent, from 17.2 percent in October. That’s just below a revised figure of 17.4 percent in October, the highest on records dating from 1994.
The average unemployment for Obama’s first year climbed to 9.26% in December.
GOP.com points out today how much the democratic leaders ridiculed George Bush when he was actually stimuluating the economy with tax cuts and creating millions of US jobs. My, how things have changed.
More… Zero Hedge reported: “Any way you look at it, 40% of the unemployed, or 4% of the workforce, a record number of people, or 6.1 million, are now unemployed for over 27 weeks. In November this number was 5.9 million, and a year ago it was a meager 2.5 million. Green shoots.”
UPDATE: Here’s a look at what was promised America and where we are at:
Hat Tip BB
ADVERTISEMENT
-
Featured Story:
Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 54 Comments
Bill Mitchell commented:
I have no idea why government unemployment numbers DO NOT include those who have given up looking for work.
I guess that because it is so bad they have given up all hope they are no longer unemployed?
Only the government can come up with this stuff.
BOTTOM LINE:
Due to to prospect of huge tax increases on “the rich” (read: small business owners) and withering health care costs, no small business in their right mind would risk capital to expand their staff right now.
Also, all that money that is going into buying “safe” US Treasuries to support our massive debt USED TO go into investing in business.
How Obama retains a 50% approval rating considering every single thing he has done has been an utter disaster still amazes me. Even on Rasmussen, Obama has surged 8 points since it was learned he LIED 8 TIMES DURING THE CAMPAIGN about transparency.
Bill Mitchell commented:
P.S., If all of this wasted stimulus money ad gone into one huge tax break for the American people, we would already be well on our way back to recovery.
Tax breaks have ALWAYS WORKED. Any liberal who tells you different is a liar and ignoring the historical data.
Daniel commented:
85,000 versus an expectation of 8,000.
That’s over ten times the expectation of the Administration’s projection.
And they want to control our Healthcare.
NO! NO! NO! NO! NO! NO! NO! NO!
daryl commented:
Employers begin laying off workers immediately after the primary elections of ’08.
“After Attacking Bush During Periods Of Job Growth,
And Pledging Their Stimulus Would Create Millions Of Jobs, Where’s The Dems’ Outrage?
LEADING DEMS ATTACKED BUSH WHEN MILLIONS OF JOBS WERE BEING CREATED …BUT, UNEMPLOYMENT IS TIED TO DEM CONTROL OF CONGRESS…”
graph at link:
http://butasforme.com/wp-content/uploads/2010/01/unemployment-rates-16-over.jpg
Greg commented:
Why does this not surprise me. Have they got 1, and truly mean that, ONLY ONE prediction right yet? What has this administration done that makes any of us have any faith in any thing they say? What are we supposed to believe that comes out of their mouth at this point?
I did not vote for the guy, but I did try to give him the benefit of the doubt. He has blown every single chance that he has had in the year in office that I’m willing to give. It is time to view him for what he is, a tilt the scale towards socialism as far as he can in the 4 years he has no matter what it does to the country as we know it.
We must stop Obummer and the Dems.
One other question: When did it mean you were a socialist just because you had “D” next to your name?
The Triguy commented:
Wasn’t it just a few short weeks ago when this administration (and their cheerleaders in the press and academia) said the recession was over? Where are they now?
Long time ago I heard of a blogger who said that making a one time, $100K low to no-interest loan to any homewoner to use solely for paying their mortgage, would have cost us far less than the stim bill and would have prevented the collapse of those holding toxic loans. The best part, the government would have gotten their money back. I agreed with him then. I still do! It wouldn’t have solved everything but it would have given us time and would have kept congress’ hands out of our pockets for a while.
shibumi commented:
A troll at another site said “It will take more than ten months to fix what Bush/Cheney did in eight years, this is your own fault, you warmongers.” I expect to hear more of this.
John in the Land of Louis commented:
Unemployment will go up next month as retailers shed the Christmas help.
Moright commented:
Obama has embraced the European model of 10-15% unemployment. This rate is acceptable in their eyes. Why aren’t they decrying high unemployment? Because it’s the new norm (their view).
kate commented:
Come on, people. You can’t make an omelet without breaking a few eggs. You can’t remake America without breaking it first. But it’ll be worth it!
//extreme sarc
Not good commented:
It is even worse than stated here. See:
http://market-ticker.denninger.net/archives/1828-Non-Farm-Payrolls-122009-Eek.html
http://www.zerohedge.com/article/labor-force-participation-rate-plunges-5-year-low-646
cal rifkin commented:
tax cuts will stimulate the economy, and will result in increased receipts for the gubmint…what’s needed is more certainty for business…everybody is waiting to see how much of a hit they’re going to take before adding jobs or equipment. even obama should be able to see that.
Hermie commented:
Cal, Obama has never had to meet a payroll or even manage a business. He thinks all money is ‘free’ and he can spend it any way he wants.
He has either been a lawyer (and his record is not clear on just what he did for his salary), or he has been a career politician who delights in spending and taxing OTHER peoples’ money.
gus commented:
But he saved millions and millions of jobs.
Smart Diplomacy is working great.
The Pork-u-lus bill is a rousing success.
Our skies are safe,
Other countries love us.
etc etc etc .
The guy is a focking loser. Always has been always will be.
olm commented:
In Oregon there is a vote in 3 weeks to significantly raise taxes on the “rich” to pay for incredible out of control government spending. The people simply have no idea that this is going to put the state unemployment through the roof. These liberal elites love to make fun of Michigan and CA but they are driving their state right there with them.
This crap is going to continue “unexpectantly” until the people wise up.
Baxter Greene commented:
This should also be noted:
……..800,000 people dropped out of the workforce in December…..
Things are much worse than they are telling us.
Ladue Pundit commented:
Our Labor Secretary made an impassioned statement today praising the Stimulus Bill, because without it “things would be so much worse.”
So, Obama Administration = shut up and be happy.
We’re in a “jobless recovery.”
Remember, “until we get healthcare passed, the economy will not come back.”
An economic aside: the closest WalMart to Ladue in on Hanley Rd. across from a Metrolink Station. During Christmas I overheard a black lady lament that WalMart should build a store in the city of St. Louis close to where all of the commuter shoppers live.
I told her that St. Louis is run by Democrats who voted to keep WalMart out. She just stared at me. Then I told her that she probably voted for all of the people that made her shopping trip a long commute. More staring.
Think of all the jobs and tax revenue St. Louis could generate with ONE WalMart/Sam’s Club. Jobs. Convenience. Money saved.
Obstacle: Democrats, unions, and stupid voters.
Nathan R. Jessup commented:
Care to revise where the buck actually stops?
Nathan R. Jessup
http://www.the-raw-deal.com
sandy commented:
http://online.wsj.com/article/SB10001424052748704130904574644701673362182.html?mod=WSJ_Opinion_MIDDLETopOpinion
In the above article by Peggy Noonan from the WSJ she states clearly the situation we find ourselves in.
Passage of the health-care bill will be, for the administration, a catastrophic victory. If it is voted through in time for the State of the Union Address, as President Obama hopes, half the chamber will rise to their feet and cheer. They will be cheering their own demise.
Spider-Man commented:
Liberals give us s**t by saying our only solution is to lower taxes….. well since it works, I’d say “It’s a damn good solution!”
No one will even talk about lowering taxes, we’ve driven over the cliff. We will bottom out when we crash into the canyon floor below.
maverick muse commented:
San Antonia moderate radio hosts say that Obama is just an extension of George W. Bush IGNORING THE OBVIOUS DISTINCTION. Bush NEVER sought to try enemy combatants in US Civil Courts. Bush’s biggest administrative failure, things left undone, may be that he didn’t conduct military tribunals ASAP upon capture per enemy combatant, and execute those found guilty.
Ladue Pundit commented:
In the above article by Peggy Noonan from the WSJ she states clearly the situation we find ourselves in.
——————
Didn’t Peggy vote for Obama? She certainly did a great job as his head cheerleader.
Noonan has a lot of gall trying to point out the obvious to the same people she referred to as small during the campaign.
Ladue Pundit commented:
Bush’s biggest administrative failure, things left undone, may be that he didn’t conduct military tribunals ASAP upon capture per enemy combatant, and execute those found guilty.
————–
Bush had legal problems in the pre-Roberts and Alito SCOTUS.
Gitmo is moving to IL. There are a lot of things I wish Bush had done but this isn’t one of them.
maverick muse commented:
Sandy
The loyal opposition at the coming State of the Union Address had better be vocal. Republicans were DENIED DEBATE, denied the floor in both the House and the Senate, and the Oval Office. They were locked out of chambers during committee meetings. Legislators, speak now or forever hold your peace. Voters are in a conservative revolt. It may be impolite, but better late than never PROTEST what is unconstitutional with your full voice. Silence is no longer golden–the GOP has politely played nearly mute waiting its “turn”, infuriating the citizenry for not having coalesced their conservative bills into a united spear to thrust through the Democratic juggernaut, that failure in leadership enabling Obama’s Marxism.
Joe Wilson is an American hero. McCain’s self-righteous knee-jerk censure of Wilson’s truth is America’s bane only so long as we remain shackled by PC etiquette; because, collegiality was assassinated by the Democrats long ago, and Obama nailed that coffin shut via Pelosi/Reid gavels. Enforce rule of law and prosecute-impeach Obama’s pirates, starting with Holder’s corruption of Judicial AG office. The inevitable avalanche of protest against unconstitutional governance will remove the quietly polite Republicans for having been passive aggressive enablers of Marxism. It is the Democrats who destroyed Congressional Protocol and Parliamentary Procedure. Who feels comfortable remaining silent while being denied our Constitutional Rights? As if silence will reinstate liberty denied illegitimately, SPEAK AND BE HEARD. The State of the Union is a NATIONAL DISASTER.
maverick muse commented:
Gitmo is moving to IL.–LaDue Pundit
Were the enemy combatants processed according to military law and found guilty, then executed, they would not be moving stateside.
wanumba commented:
The chart is misleading.
Bush Years (= 
Obama Years … = ONE.
It says:
Clintons Years (=
These little slick tricks create a subconscious implication that the three periods are equal – that is comparable – when they are not, by ANY stretch. The Obama unemployment rate achieved in a matter of MONTHS, is terrifying when we consider he’s got 3 more years to continue to evicerate the economy unchecked, and is plainly planning on 7 years more.
The Democratic Party-controlled Congress was ramming tax and spend thru before Bush left office and had a stack of huge taxing legislation ready from Day One of Obama’s administration. They’ve been pedal to the metal since Pelosi and Reid took over, gunning it even more once Obama could start signing off on all of it, a “rapid response gouge the public” before they can react.
This disaster has been in the making since the multimillionaire Pelosi took the gavel with a huge smirk, and a “we’re gonna do things differently now.”
maverick muse commented:
“Noonan has a lot of gall trying to point out the obvious to the same people she referred to as small during the campaign.”
Let the elitist Noonan grovel for relevance. Gall becomes her.
wanumba commented:
maverick muse
January 8th, 2010 | 11:39 am | #24
……….
Loved that comment! Bravo!
maverick muse commented:
“This disaster has been in the making since the multimillionaire Pelosi took the gavel with a huge smirk, and a ‘we’re gonna do things differently now’.”
The greatest transparent fraud ever.
maverick muse commented:
wanumba
Proportional point well made #26.
Just as Gore’s Inconvenient Truth proves a fraud, numbers, like Obama’s words, do matter, whether revisionist or holding to the factual record.
That the federal bureaucrats are willing to admit 10% unemployment means there’s at minimum 20% unemployment nationally, and much worse around Detroit.
God help us that Obama’s administration allowed Detroit to be targeted by Jihad terrorists, incompetently or not. There is no depth the Democrat Majority won’t sink to in order to grab even more power to bloat Big Brother’s Nanny State further.
ang commented:
Republicans should get up and walk out on the President when he gives his state of the union address.
Ladue Pundit commented:
Republicans should get up and walk out on the President when he gives his state of the union address.
ang
January 8th, 2010 | 2:17 pm | #34
—————–
Excellent advice. And hold a press conference echoing Maverick Muse’s #26 comment.
The momentum is with conservatism. The liberals are steering this nation into a buzz saw.
The Republicans and BlueDogs should refuse to sit there and listen to a liar blaming them for this mess.
annie commented:
Think about this…during the Great Depression which FDR exasperated just as Obama and the libs are doing the unemployment rate hit 24% in 1938…this was before the vast entitlement programs we have in place now. We now have 48% of the people who are dependent upon the government, and the majority of these people are employable…add this to the 10% the govt. is “reporting” and our unemployment rate in this country is truly closer to 50%+. Are flames shooting out of your eyeballs now? Our country has got to stop this insanity! If we don’t get some fiscal conservatives in place to make the tough decisions and create business friendly environment and shrink the size of govt. we are in for a world of hurt. Gird your loins people, it is coming.
annie commented:
Regarding Peggy Noonan, she is the turd in the punch bowl at a party now. Peggy, dear, your gravitas has expired…go away.
sandy commented:
There are a lot of people who let us down. I worked for Hillary in 08 before Pelosi and company did their best to make sure she would not be allowed to get the nomination. Now because of her association with Obama I could not vote for her again. Many Republicans voted for Obama because he was the UnBush. If they have changed their minds now I welcome them. My friends all voted for Obama after Hill was out of the race and one by one they have turned against him.
Its kind of like the movie ITS A WONDERFUL LIFE. We have now seen what life is like with an all Dem Govt and it ain’t pretty. Lets hope everyone gets on board to make sure the Republicans take Congress. We see Obama can be rolled — so let the Repubs roll him.
Even in the best of times Americans like divided govt and this ain’t the best of times.