Drudge reported…..
41 straight months above 8%...
'Longest stretch on record'...
ROMNEY: 'Hammer blow' to middle class...
163,000 NONFARM JOBS ADDED...
150,000 Drop From Workforce...

The unemployment rate jumped to 8.3% in July.
Thank you, Barack Obama.

The economy has lost at least 2.5 million jobs since Obama moved into the White House.

Barack Obama continues to make his mark as the worst jobs president since the Great Depression.

 

 

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  1. Here Comes the Spin: Jobless Rate Rises, Government Says ‘Essentially Unchanged’

    http://cdn.breitbart.com/mediaserver/Breitbart/Big-Journalism/2012/Politifact/politifact-half-true.jpg

    With a rising unemployment rate set to dent President Barack Obama’s re-election efforts, the mainstream media is about to go into full-spin mode. They can take their cues from the Bureau of Labor Statistics itself, which announced that the jobless rate had risen from 8.2 to 8.3 percent in July but called the result “essentially unchanged.” Look, also, for the media to emphasize that jobs grew by 163,000–without noting that the number is seasonally adjusted to account for one million holiday jobs lost each year at this time, and without noting that June’s job numbers were revised downwards radically, from 80,000 to 64,000.
    http://www.breitbart.com/Big-Journalism/2012/08/03/Here-Comes-the-Spin-Jobless-Rate-Rises-to-8-3-Percent-Government-Says-Essentially-Unchanged

    More on site http://www.breitbart.com/Big-Journalism/2012/08/03/Here-Comes-the-Spin-Jobless-Rate-Rises-to-8-3-Percent-Government-Says-Essentially-Unchanged

  2. No. The real unemployment number is 15% (U6).

  3. Seasonal And Birth Death Adjustments Add 429,000 Statistical “Jobs”

    Bureau of Labor Statistics

    Happy by the headline establishment survey print of 133,245 which says that the US “added” 163,000 jobs in July from 133,082 last month? Consider this: the number was based on a non seasonally adjusted July number of 132,868. This was a 1.248 million drop from the June print. So how did the smoothing work out to make a real plunge into an “adjusted” rise? Simple: the BLS “added” 377K jobs for seasonal purposes. This was the largest seasonal addition in the past decade for a July NFP print in the past decade, possibly ever, as the first chart below shows. But wait, there’s more: the Birth Death adjustment, which adds to the NSA Print to get to the final number, was +52k. How does this compare to July 2011? It is about 1000% higher: the last B/D adjustment was a tiny +5K! In other words, of the 163,000 jobs “added”, 429,000 was based on purely statistical fudging. Doesn’t matter – the flashing red headline is good enough for the algos.

    http://www.zerohedge.com/news/seasonal-and-birth-death-adjustments-add-429000-statistical-jobs

  4. So far in 2012 – through July – state and local government have lost 42,000 jobs (7,000 jobs were added in July). In the first seven months of 2011, state and local governments lost 205,000 payroll jobs – and 230,000 for the year. So the layoffs have slowed.

    State and Local GovernmentThis graph shows total state and government payroll employment since January 2007. State and local governments lost 129,000 jobs in 2009, 262,000 in 2010, and 230,000 in 2011.

    Note: Some of the stimulus spending from the American Recovery and Reinvestment Act probably kept state and local employment from declining faster in 2009.

    Of course the Federal government is still losing workers (38,000 over the last 12 months and another 2,000 in July), but it looks like state and local government employment losses might be slowing – but the job losses haven’t stopped yet.

    Overall this was another fairly weak report.
    Read more at http://www.calculatedriskblog.com/2012/08/employment-another-fairly-weak-report.html#Io24c0gdrWFw1HeV.99

    Graphs and more on site. HERE IS ONE GRAPH: http://4.bp.blogspot.com/-fdKGlCDSsL4/UBvX41KDEdI/AAAAAAAAOtI/SemGrRhsf7c/s320/StateLocalJuly2012.jpg

  5. Former Obama economic adviser on jobs report: What did you expect from our measly growth rate?

    How goes the post-jobs report spin for Barack Obama, his administration, and Democrats in general? After all, the number of jobs added (163,000) wasn’t bad, especially considering that the previous three months averaged only half of that number. One might expect apologists for the Obama White House to hail that number as “a step in the right direction,” the facepalm claim from Obama himself after a lousy jobs report for June. One might expect that even from someone who used to work for President Obama on the very economic policies that puts us in position to think of a treading-water job-creation level as relatively good news. However, Austan Goolsbee dispensed with the spin on CNBC earlier today, arguing that this was as good as we could expect from our “measly” growth rate: VIDEO VIDEO

    – Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed. …

    – The broader U-6 unemployment rate, which includes “all persons marginally attached to the labor force, plus total employed part time for economic reasons,” ticked up to 15.0%. read more on site

    http://hotair.com/archives/2012/08/03/former-obama-economic-adviser-on-jobs-report-what-did-you-expect-from-our-measly-growth-rate/

  6. OT

    Now on his job: He has a job for a little while, but he too will lose his come Nov.

    POLL: Obama Job Approval Slips to 44%; Matches 2012 Low…

    Intensity of support or opposition can have an impact on campaigns. Currently, 22% of the nation’s voters Strongly Approve of the way Obama is performing as president. Forty-five percent (45%) Strongly Disapprove, giving him a Presidential Approval Index rating of -23 (see trends). This is the president’s lowest Approval Index rating of 2012.

    http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll

  7. OT…Picture of the day

    Chick Fil A takes water out to the protesters…that are protesting Chick Fil A
    That’s right Liberals,they’re so full of hate,they’ll comfort the people protesting them

    http://twitter.com/pambesteder/status/231249897616183296/photo/1

    Liberals… perfecting stupid daily

  8. ++

    Nevada 11.6%(p) in Jun 2012

    has harry paid his taxes for the past 10 years or so??

    ==

  9. Has anyone been able to find how many of these jobs are temporary, part time summer jobs?

    The number of jobs added always goes up during the summer since high school and college students find summer work. Maybe I’m looking too hard, but I can’t find how many of these jobs fall under that category.

    Any information would be greatly appreciated to show how inflated the July numbers are.

  10. Let’s face it folks, it has to be someone else’s fault. Zippy is blameless—just ask him.

  11. I’m cracking up at Barry’s photo. He’s finally coming clean about how small his “—–” (5 letters) …”spine” is! Now be honest…how many of you were thinking of a different anatomy?

  12. ++

    re: #9 August 3, 2012 at 1:22 pm bg

    i’m sorry, but this “collective average percentage” is very deceiving..

    it’s the average in of EACH & EVERY INDIVIDUAL STATE, some
    are higher, some lower, add them together and what do we get??

    ==

  13. White House: 8.3 percent unemployment? No! 8.254 percent!

    Your daily technically-accurate-but-politically-cringe-inducing spin moment came courtesy of the chairman of President Barack Obama’s Council of Economic Advisers, Alan Krueger, who took issue Friday with reports that the unemployment rate rose in July from 8.2 percent to 8.3 percent.

    “More precisely, the rate rose from 8.217% in June to 8.254% in July,” Krueger wrote on the official White House blog, adding that acting Bureau of Labor Statistics Commissioner John Galvin “noted in his statement that the unemployment rate was ‘essentially unchanged’ from June to July.”

    Krueger was technically accurate. But his comment raised eyebrows. Republican National Committee spokesman Tim Miller called it “the dumbest spin I’ve seen in ages.”

    Obama’s chief weakness ahead of November is the still-sputtering economy. No president since World War II has been re-elected with unemployment above 8 percent.

    http://news.yahoo.com/blogs/ticket/white-house-8-3-percent-unemployment-no-8-155747992.html

  14. His
    ” peoples” are smoking the Cuban Cigarette.

  15. The need to stress the 8.254% is such a desperate move on Ofraud’s part that it’s almost laughable. No! It is laughable. It actually is the first nail in the coffin in this pathetic excuse for an administration.
    November cannot get here soon enough.



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