WORST. JOBS. PRESIDENT. EVER. August Unemployment Rate Rises to 9.6%
Posted by Jim Hoft on Friday, September 3, 2010, 7:31 AM
Barack Obama is the worst jobs president since the Great Depression and possibly is the worst jobs president in US History.
(Source: US Misery Index)
They wanted to fundamentally change America. They did.
The US unemployment rate has not fallen below 10.8 percent in the last 12 14 months according to the Center for Economic and Policy Research. This is unprecedented.
From November 2008, the month he was elected, until now, the economy has shed more than an astonishing 4.4 million jobs. That’s worse than Hoover.
The AP reported:
Private employers hired more workers over the past three month than first thought, lifting hopes for the weak economy. But the unemployment rate rose in August for the first time in four months as more people entered the market looking for work.
Companies added a net total of 67,000 new jobs last month and both July and June’s private-sector job figures were upwardly revised, the Labor Department said Friday.
Stock futures surged after the report was released. Wall Street analysts expected a smaller gain, according to Thomson Reuters.
Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end. For the first time this year, the manufacturing sector lost jobs — down a net total of 27,000 for the month. State and local governments shed 10,000 positions.
It’s probably a good thing Romer bailed out when she did.
Remember: Obama told NBC: “I expect to be held accountable.”
UPDATE: BB sends the latest chart showing the actual jobs lost compared to the predicted losses by Team O after the Trillion dollar stimulus was passed.
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Granny commented:
I guess I just don’t add very well. If companies ADDED a total of 67,000 new jobs, how did the unemployment rate RISE instead of FALL?
Jim Hoft commented:
Granny- Private business added 67,000. The overall economy lost 54,000 jobs
Slappy commented:
Granny, because the public sector (government) lost jobs due to 114K temporary census positions ending, which was more than the 67K added by private employers. Plus, more people are now looking for work for various reasons (i.e., stopped looking for awhile and are now looking again, high school and college graduates entering the workforce, etc.).
What I find laughable is how the media is continuing to try to help Obama by pushing the private sector job numbers as their lead instead of the overall job numbers because the private sector numbers, although still really weak, provide the better news for Obama.
Paleryder commented:
Make no mistake about it,this was the democrat goal from the very beginning. That is why they are all out now saying the stimulus worked. For them and their desired results,it did.
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Khan Krum commented:
Cloward-Piven strategy working ahead of schedule… Caliphate of al-Hussein next.
Multitude commented:
Please note the unemployment data does not show structural changes in the employment market, and furthermore misleads significantly on the actual employment condition due to intrinsic assumptions in the model (including the determination that a long-term unemployed “must be out of a job because they just don’t want to get a new one – things can’t be so bad that they can’t get one, so we’re determining they’re just not trying and thus not ‘unemployed’”).
Unlike prior downturns where unemployment was temporary, Obama’s “uncertainty” (actually seen as long-term certainty per the direction towards strong state socialism and radical hostility toward the private sector) has resulted in movement by medium to large sector businesses toward structural shifts. Offshoring, automation, re-engineering of processes and other efforts to permanently reduce workforce have been conducted out of necessity the past two years. Further aggression by the hungry socialist state will only accelerate this offshoring of employment, process and capital.
Elections have consequences and Americans chose to reduce the employment base by at least 10 million. Even Obama and Biden admits these jobs will never come back, though they offer laughable alternatives like green jobs (which will only be viable if conducted directly through the state and mandated by law, given the great inefficiencies and increased costs of these approaches).
Melvin Winter commented:
Parody: Democrats Tout Their Role in Stopping Employer Interrogation Program http://optoons.blogspot.com/2010/08/democrats-tout-their-role-in-stopping.html
SeniorD commented:
Please remember, ‘work’ implies doing something of value in return for appropriate compensation as determined by the business owner. Thus, the Oval Office Temp Worker will be counted as ‘unemployed’ in two years.
Of course, the term ‘Worker’ implies this clown does something valuable besides taking vacation.
donh commented:
That is 54,000 more people drawing unemployment pay outs instead of paying into the social security tax system. Why? because greedy insane government is addicted to its economic fantasy world of money for nothing and your checks for free. …Overemploying millions of people in public sector jobs that fail to produce anything of market value. Jobs that only suck blood from the private citizens who labor turning worthless seeds into a bushel of corn. Feudalism was more fair to the working man as the King only claimed 10% tribute for himself and his lay about lackeys and enforcers.
Reaganite Republican commented:
Remember when Dear Leader said “it could be worse”…?
Well now look, darned if he wasn’t right!
Maurice commented:
Obama’s vacations are the best part of his Presidency for US! I was overjoyed to not hear his soporfic speeches (I never got the “greatest orator” thing..he put me to sleep from the first time I heard him) full of lies and anti-American screed, and when he doesn’t talk, he doesn’t take up good air time that could be used for other things, like “Jersey Shore”! Or the funnier and even less “reality-based” CNN news.
Seriously, folks, did anyone else enjoy Obama’s time in Martha’s Vinyard?I think it might best thing to happen to the country if this Congress and this POTUS would all take a vacation until we can vote some decent leadership back in place. Maybe after Nov we can start Congress back up, and then maybe in 2012, we’ll have a new POTUS who we LIKE to listen to.
More vacations, Mr. Obama, more!
Robert commented:
The Bureau of Labor Statistics said
“the unemployment rate was about unchanged at 9.6 percent.”
That’s your BLS, shilling for Obama.
Andreas K. commented:
I guess a certain president must go and play golf quickly.