UNEMPLOYMENT JUMPS TO 9.9%
Posted by Jim Hoft on Friday, May 7, 2010, 6:36 AM
How’s that hopey-changey stuff treating you?
US Nonfarm Payrolls increase by 290K in April. Unemployment rate up to 9.9%. It was the highest rate of unemployment since December.
The unemployment jumped from 9.7% to 9.9% in April even with the addition of 66,000 temporary government workers to conduct the US census.
The AP reported:
Employers stepped up job creation in April, expanding payrolls by 290,000, the most in four years. The jobless rate rose to 9.9 percent as people streamed back into the market looking for work.
The government says the hiring of 66,000 temporary government workers to conduct the census helped overall payroll growth last month. However, private employers added a surprisingly strong 231,000 positions last month, also the most since March 2006.
The unemployment rate rose from 9.7 percent in March to 9.9 percent in April, mainly because 805,000 jobseekers — perhaps feeling better about their prospects — resumed their searches for work.
Related… Only 39% of voters would vote for Obama today.
UPDATE: BB sends this updated graph.
The light blue line is what the democrats told us would be the projected unemployment rate without the trillion dollar stimulus.
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Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 87 Comments
Militant Conservative commented:
Again interesting how the market news will overshadow this news. I do know the markets around the world are moving in a downward direction. We are looking at a global downturn due to poor policies world wide. Most of the world is socialist/commie. We were capitalist till Obummer came along. It’s going to get worse. November may be too far away to help the recovery. powder is dry. not giving up either.
Formerly known as Skeptic commented:
Unexpectedly!
Bill Mitchell commented:
Well, although 290,000 is nice, it doesn’t even keep pace with the expansion of the work force. Also, as the job picture improves, more people start looking for work again who had previously given up, thus increasing unemployment numbers (in our silly system).
The truth is that this expansion is part of the normal business cycle is is happening DESPITE Dem policies, not due to them.
You dump a trillion borrowed dollars into the economy and all you can manage is 290k new jobs?
nadadhimmi commented:
The msm says all bad news is “unexpected”. To me, what is “unexpected” is that bad figures will remain un-manipulated. Obama and the msm will NEVER release unemployment figures above 10%. It is not politically acceptable to them and the msm does as they are damn well told to do by Obama.
Don't be fooled commented:
http://www.zerohedge.com/article/290k-payrollsadded-unemployment-goes-back-99-underemployment-171
snip:
290K of which census was 66k and Birth Death was 188k. Hurray -the economy added a real 36k in jobs in April.
Rose commented:
Another “TOTALLY UNEXPECTED” SHOCK!
SO LOL!
daryl commented:
You’re in good hands with this bunch, folks! Nothing to fear but the smell of a third world country’s rotting carcus.
Let’s get these pos outta there, people. Please.
May 2010: Photo of the Day | The White House
http://www.whitehouse.gov/photos-and-video/photogallery/may-2010-photo-day
Govt lies commented:
HT/ irishscot2
Fascinating for government LIES on this one – looking at the “ACTUAL” numbers that the seasonally adjusted is built off of, ONE thing happened that is very QUESTIONABLE:
The number of people in the labor unemployed DROPPED by 1,069,000!
With the consistent filings in the 400,000′s ALL month, THIS IS IMPOSSIBLE!!
The numbers are now officially being played with.
Robert commented:
2.3% behind the rosy predictions given by the Democrats
when they ripped a trillion dollars from the future.
Jeremiah commented:
geez would you guys give it a rest. We’re in a v shape recovery. Never bet against the American economy. No American recession lasts longer than two and a half years. Besides it will cross over into depression territory.
Read Kudlow, any number of conservatives on their take on the economy. We had clear signs of breaking out of the recession last spring, well before the stimulus had any effect. As it was time anyway because it was nearing two years since the start. 9.9 from 9.7 means people have hopes of getting a job and have changed to the unemployed column instead of being in the no longer looking group.
We’ll become passive if we pick the wrong issues and look untrustable. By passive, hoping a bad economy will put the child out of office is unlikely unless his communist programs get instituted and knocks the recovery off its perch.
He has been lucky that cap and trade hasn’t passed and health care doesn’t start rotting the economy until 2014.
Historically the only way the economy turns for a double dip is if legislation strangles it. So don’t expect the economy to help get rid of the bums.
golfmann commented:
What’s next? 9.9999?
bill-tb commented:
Real unemployment, U-6, the number before government tried to soften the reports, now stands UP at 17.1%. It’s been going up since December.
ProLifer commented:
Jeremiah #11
“We’re in a V shape recovery. Never bet against the American economy.”
I found this interesting. From the prophet Jeremiah:
21
Pay attention to this, foolish and senseless people Who have eyes and see not, who have ears and hear not.
22
Should you not fear me, says the LORD, should you not tremble before me? I made the sandy shore the sea’s limit, which by eternal decree it may not overstep…
23
But this people’s heart is stubborn and rebellious; they turn and go away,
24
And say not in their hearts, “Let us fear the LORD, our God, Who gives us rain early and late, in its time; Who watches for us over the appointed weeks of harvest.”
25
Your crimes have prevented these things, your sins have turned back these blessings from you.
26
For there are among my people criminals; like fowlers they set traps, but it is men they catch.
27
Their houses are as full of treachery as a bird-cage is of birds; Therefore they grow powerful and rich,
28
fat and sleek. They go their wicked way; justice they do not defend By advancing the claim of the fatherless or judging the cause of the poor.
29
Shall I not punish these things? says the LORD; on a nation such as this shall I not take vengeance?
30
A shocking, horrible thing has happened in the land:
31
The prophets prophesy falsely, and the priests teach as they wish; Yet my people will have it so; what will you do when the end comes?
(Jeremiah 5:21-31)NAB
drdigipol commented:
That hopey changey thing is working a hell of a lot better than that Drill Herey, Drill Nowy thing.
daryl commented:
drdigipol
May 7th, 2010 | 8:23 am | #16
Do you drive dijipol? Is what you drive powered by hydrocarbons? Ride public transportation? Hopey and changey won’t get you there.
It took some drilling “herey and nowey” somewhere to make it possipble for you to make your ignorant post.
Dijinothat?
dlc commented:
Some can use stats to show that TX is larger than the U.S.! and believe it!
Why show the Truth (the unemployment # is higher than that) when the Lie is their father and foolishness their understanding.
Robert commented:
drdigipol #16
That hopey changey thing is working a hell of a lot better than that Drill Herey, Drill Nowy thing.
Maybe if we were drilling in ANWAR, in a tiny speck of land within a vast wilderness, we wouldn’t have to go undersea looking for oil.
And if an accident DID happen it would be a helluva lot easier and also safer to deal with it.
And maybe if the Left didn’t scream about every energy project proposed, we might have some nuclear power plants coming on line, which is the only realistic expansion of power supply available.
Instead we’re going to spend billions of dollars expanding wind power from 1% of our needs to 2% of our needs within the next ten years.
Smart power!
jainphx commented:
I saw one report that made me scratch my head. The claim was that 29,000 new jobs had brought the unemployment rate down to 9.8% from 10%, and yet the new claims for Unemployment were 439.000. It isn’t even mathamaticaly possible, (this was about 6 months ago) yet this was their claim. Could someone explain to me how you get a down trend when everything is pointing up?
Warthog commented:
Could someone explain to me how you get a down trend when everything is pointing up?
They’re lying.
(I mean, like duh…)
Marvin commented:
It’s amazing how you guys try to find bad news in the good. The fact is 290K new jobs were added last month – more than 100K more than most economists predicted. In other words: The economy is recovering faster than people thought it would.
Yes the initial estimates by the Obama admin were too rosy – I don’t think they realized just how big of a mess the Bush recession left us with…
But the end result is that another Republican recession is being turned around with a Democratic economic recovery (just like Bill Clinton turned around the awful economy left behind by Bush’s father.)
Warthog commented:
It’s amazing how you guys try to find bad news in the good. …
Odd, I didn’t think the the increasing unemployment rate was good news. Not mentioned is the increase in the broader U-6 unemployment rate went to 17.1%. But these people are returning to looking for work because the economy is so rosy (or their unemployment benefits ran out one of the two).
Keep talking it up, Marvin, I’m sure if you try to put a rosy shine on the regulatory nightmare turd that is Obamacare the jobs will materialize any minute now.
Any…
minute…
now…
(Oh, and nevermind about that forclosure rate thingy…)
Robert commented:
Marvin #23
There is no “Bush recession” The Democrats controlled the purse for two years and failed in their oversight duties especially with regard to Fannie Mae and Freddie Mac and the mortgage markets, despite being warned BY PRESIDENT BUSH about impending trouble.
Your so-called “recovery” is failing to provide enough work for people. The proof is right there in the graph, still trending away from improvement. Plus, the U6 figure ticked upward to 17.1% unemployed, trending away from the stated 9.9% unemployment rate.
Rather than foster a production-oriented recovery, the Democrats have poured BORROWED money into GOVERNMENT. They have also spewed forth a stream of anti-business rhetoric that has created a climate of uncertainty in the business sector, in addition to increased regulations that will severely curtail small-business activities.
Your “Democratic economic recovery” is not leading to increased national production, only to massively increased national debt, now projected at over a trillion dollars per year for the next decade.
Edgewalker commented:
Unemployment went up b/c people started applying again b/c of last month’s increase.
Jobs went up. More people have HOPE that things have CHANGED so they are not discouraged anymore.
You people are sick.
Chisum commented:
Edgewalker,
Please read the following carefully. Please try to comprehend it.
http://newsbusters.org/blogs/julia-seymour/2010/05/07/jobs-gained-only-6-662-000-more-needed-2010-fulfill-obama-promise
Gordon Savage commented:
More people are “actively looking for work” because they’re applying for the census. No one with real prospects for work would get tied up in a dead end job for 6 months. Those who are in a desperate job situation, however, see it as 6 months of work that will restart the unemployment insurance clock.
Otherwise, you’re looking at the most anemic economic recovery in the last 50 years. “Democratic economic recovery” indeed!
Edgewalker commented:
newsbusters…yeah, they aren’t biased.
Who the hell cares about what he said with stimulus?
The U.S. just added the most jobs in 4 years and you guys aren’t happy b/c a Democrat is doing it.
Be true to your country, not your party.
Chisum commented:
Let me recap. The Newsbusters article quotes AP, Business and Med. Institute, Yahoo Finance, NY Times, CNN and the Fed. Reserve Bank of Atlanta. Yet you dismiss the article because it’s posted at Newsbusters.
I guess if you can’t comprehend the contents of the article then you attack the messenger. Oh… and call everyone morons.
ProLifer commented:
“Kool-Aid Kool-Aid, Tastes Great,
We Want Kool-Aid, Can’t Wait!”
moderatepubbie commented:
The jobs report was positive. It’s pretty unequivacable. All the parsing shows how bad the reports are, but that’s nothing new. It still compares favorably to any job report we’ve had over the past two years, and the attempt to portray in other fashions is weak. It makes us look like we’re ignore facts in favor of polemics, which is what I thought liberals do (actually, both sides look pretty similar in this day and age, despite thinking they are opposites. The real problem in this country is the people arguing that we’re not partisan enough.) As this blog post shows, partisanship leads to untenable arguments that you must then hold onto with emotion.
Chisum commented:
As this blog post shows, partisanship leads to untenable arguments that you must then hold onto with emotion.
+++++++++++++++++++++++
How’s this for emotion?
Unemployment Going Nowhere – Stimulus Bill Still A Failure
Lots of false bravado coming out on the latest jobs report for April. Yes, 290,000 jobs (mostly part time census work) were added. But the real measure of employment, the percentage of those out of work from the total work force number, is not budging and has not moved for months. Here is the unemployment (U3) and underemployment (U6) numbers, and as can be seen they are just holding steady at a very painful level
http://strata-sphere.com/blog/index.php/archives/13306
SILUS DOGOOD commented:
In these comments it is unbelievable that some hard party liners are still blaming President Bush for the problem. Wake up it’s beyoned President Bush. It’s up to Obama now & his policies. (Which actually had delayed any improvement), along with Biden (who by the way for those that critize Sara P) She is a rocket scientest when compared to Biden. I love those tea party people. Because for the first time people are beginning to know their Constitutional Rights, Know what their Representative’s are doing. They hate it because to them transparent means secret backroom deals. It time we have people in control that really will change what the government does best – especially at the present time – it’s called FWA (Fraud Waste & Abuse) with your hard earned tax dollars. While we are at it – lets end the IRS Welfare system of rewarding people with more dollars back than they pay in. We already have a welfare system to do that. Lets not have a redundant program. Best of luck to those new liabilities we are all getting with those 16,000 new IRS employees to spy on you to make sure you buy Obama no care.