Obama Depression News: Full Time Employment Is Down By Over 1.4 Million Since Obama Took Office
Posted by Jim Hoft on Monday, September 10, 2012, 9:05 AM
It’s an Obama world.
Full-time employment is down by over $1.4 million since Obama took office.
(Ron Paul Forums)
For every person that got a job last month at least three quit looking for work.
Tom Blumer at PJ Media reported:
The administration’s sole support for its contention that there has been meaningful job market improvement on its watch rests on one carefully chosen statistic: “The economy has now added private sector jobs for 30 straight months, for a total of 4.6 million jobs during that period.”
That claim is incorrect. It is true that the Establishment Survey at the Bureau of Labor Statistics shows that private-sector employers had 4.63 million more workers in August than they did in February 2010 after seasonal adjustments. However, the BLS’s separate Household Survey tells us that the ranks of the unincorporated self-employed, all of whom are certainly private-sector participants, shrank during that time by 440,000 to a seasonally adjusted 9.46 million, knocking down the administration’s cherry-picked number by 9.5%. (The BLS doesn’t seasonally adjust its figures for the far smaller cadre of those who are self-employed but incorporated; their respective raw values in February 2010 and August 2012 were virtually identical.)
Qualitatively, the job market decay is all around us. The following stats only scratch the surface of the ugliness (all figures are seasonally adjusted):
** Full-time employment only increased by 43,000 in August. It’s down (yes, down) by 902,000 since March, and by over 1.4 million since Obama took office.
** 562,000 fewer married men and 700,000 fewer married women were employed in August than were when the recession officially ended in June 2009.
** 22% of the 3.47 million private-sector jobs created since the recession’s end have been at temporary help services.
** What about what the new jobs created actually pay? The National Employment Law Project recently reported that “Lower-wage occupations were 21 percent of recession (job) losses, but 58 percent of recovery growth. Mid-wage occupations were 60 percent of recession losses, but only 22 percent of recovery growth.” The leftists at the NELP wouldn’t state the obvious, so I will: Their research proves that the Obama administration’s economic policies are gutting the middle class.
Read the rest here.
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Jennifer commented:
This won’t make it to the MSM. Fortunately so many have by passed the lack of news in the MSM and are up to date.
Kissmygrits commented:
Austin Goolesby was on a show yesterday and brought up the 8.1% for August as proof the jobs market was going in the right direction. This is why we cannot trust any numbers being spouted by the regime, or polls. They are doubling down on stupid.
mg4us commented:
Barack – – you POS
Stop betting AGAINST the American People
Here are the Facts
http://www.americanthinker.com/2012/09/un-spinning_jobs_numbers.html
But the article misses one big point. . they just count jobs. .not quality of jobs and employment. . .
Under Obama, new jobs are mainly McDonald’s Burger Flippers
http://money.cnn.com/2011/04/04/news/companies/mcdonalds_jobs/index.htm
And Here is another BET against America by POS Obama!
http://www.americanthinker.com/blog/2012/09/by_bailing_out_gm_and_chrysler_obama_was_betting_against_america.html
Finncrisp commented:
Romney better get some faces of the recssion in front of the camera , and soon. The MSM will not tell this story, it is up to him to explain it to America.
Real journalists have left the building…
mg4us commented:
Clinton is right. .it is all about Simple Arithmetic
23 MM Americans Unemployed
+43 MM Americans on Food Stamps
+16 TRILLION inDebt
= FAILED OBAMA Presidency
America Hurting and NEEDS CHANGE NOW
donh commented:
New Jobs at $11 an hour…Gas at $4.04 a gallon. $4 for a loaf of bread…… Mr Romney…You can do better. Stop glazing the issues in mild soft tones and pulling punches.
mg4us commented:
I hope tomorrow Romney shows up at WTC site in New York with Rudy Giuliani and some of the Hero’s from that day on 9/11
to NEVER FORGET as well as
to honor those who were victims from a failed Clinton decision to “take the shot” and Kill Osama bin Laden.
johnt commented:
I think Obama has a smile now that matches the photo. Why not, it’s just what he wants, the Pain President. Don’t kid yourself, he hates America and has plenty of company on the left.
mg4us commented:
#7. .well said. . but don’t forget to take out income tax, SS tax, medicare tax
And with QE3, gas to go over $5/gal. . .
No wonder many new workers living at home in Mom and Dad’s basement
One thing Romney does need to address is the Wall Street Thieves that used bankruptcy laws to decimate people’s pension funds. . .
Imaging working over 25 years at a company, retiring and then company files bankruptcy and your pension is gone. . all you get is PBGB (Pension Benefit Guarantee Board http://pbgc.gov/) which is piddles!
Happened to my dad who retired from the airlines!
This IS WRONG and MR. Romney should address and have a plan!
When a company makes a commitment to its workers that should come first BEFORE outside loans, creditors or borrowers are repaid. . .
Oliver commented:
despite all the bad jobs numbers and worse economic news, Oblamer raised $2million more than Romney in August.
the media, and the left are hopelessly in love with this guy.
succotash1 commented:
BARACK OBAMA SO LOVED THE POOR THAT HE CREATED A MILLION MORE.
valerie commented:
Results are important. The end result, a lousy recovery, is an outgrowth of an underlying defect in this administration.
http://hotair.com/archives/2012/09/09/woodward-book-reveals-congressional-staffer-chewed-out-obama-over-debt-limit-preparation/
No plan B. Actually, to me it sounds like there was no plan A in the first place, at least, nothing developed enough to make sense.
Mekan commented:
But what is not said here is that he SAVED 6 trillion jobs from being eliminated…..that is what caused the budget deficit rise.
valerie commented:
#14 September 10, 2012 at 10:47 am
Mekan commented:
cite? (There aren’t 6 trillion people in the US, much less 6 trillion jobs)
chuck in st paul commented:
no problem, Obama’s gonna pay us from his stash
Blacque Jacques Shellacque commented:
When I first saw the picture, it wasn’t FDR that I thought of, but The Penguin.
It was probably the cigarette holder…
bg commented:
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September 10, 2012
The Democrat
I was living in Washington DC during the first two years of the Carter Administration which coincidentally occurred during the height of a television show entitled Hee-Haw, and it was fascinating albeit disturbing to observe the parallel between corn pone humor and what was actually going on in the White House, wherein Jimmy Carter took direction and formulated policy at the beck and call of his wife, Rosalynn, and at the behest of his mother, Miss Lillian. It is documented for the ages what happens to a presidential administration, or country for that matter, when turned over to two supremely opinionated but unimaginably unqualified shrewish women.
With a nod to Santayana for this variation, “those that do not learn from the mistakes of previous administrations are bound to repeat them” we now have Michelle Obama and Valerie Jarrett doing their best impression of the Carter Gals, neither of whom strays far from the control panel apparently located in the president’s back, and who remain ever-more diligent since he went off-script in Roanoke last July to disparage business owners with a double-shot of Leninite Vodka. I cannot verify if Ms. Jarrett has had to voluntarily relinquish her law license to avoid prosecution as the Obamas have, but if she hasn’t it’s merely a matter of time.
While criticism and ridicule of Mr. Obama is warranted, he has been shielded by mawkish media types that discuss tingles running up their legs, and he has exploited his race repeatedly and used it like a heat shield to preclude honest assessments of his mistakes
Meanwhile, the Democrat’s national convention swung into Charlotte and with drill team precision began running misdirection plays, obfuscating with abandon, demonizing achievement, God, Israel, and anything remotely considered traditional with attendees one might see at a Trekkie convention. You have to admit it took some, er, cajones for Mrs. Obama to suggest that “Barack is just like you”, and it came across as cloying and dilettantish not to mention offensive.
I wasn’t sure she meant if any of us was president we, too, would abuse the privilege of the office, treat Air Force One like a prom limo and be running Secret Service and its advance teams as crazy as chaperones on a high school field trip, or was she hinting that we would have been able to maintain relationships throughout our adult lives with anti-American miscreants without the press making a peep? Perhaps it was just a casual inference that we would likely select a corrupt attorney general that allowed us to ignore laws we don’t like, enforce heavy-handedly those we choose, and make up others to suit us, all the while circumventing the legislative process. Who knows?
Then it occurred to me, she meant he was just like us because none of us are qualified to be the president, either. He’s just like us because most of us don’t have experience in the legislative process, economics, foreign policy, or geopolitical strategy, much less the innate wisdom and intelligence it takes to run a country, and that we’d all like to escape to the golf course or indulge our favorite hobby of relaxation when the job became too demanding. You just know it was on the tip of her tongue to say, “It isn’t easy. Unemployment would have risen 70%, the national debt would have increased 76%, food stamps recipients would have jumped 69%, and drilling permits would have been slashed by 68% if you were president, too!”
Though Mrs. Obama attempted to enhance their fairy tale, Unsere Kampf, it was nothing more than a game of shadows cloaked in smoke and delivered in such an unctuous manner I had to wipe down my TV screen because disingenuity was oozing through her make-up. Aside from the preternatural and wing-nut delegates who fawned at every gag-invoking line, America has in large part finally taken a firm “Fool Me Once” approach to this Mother of Invention, and when a mere four years ago every utterance would elicit fainting and unabashed veneration, her empty platitudes are now regarded as so much gas. While criticism and ridicule of Mr. Obama is warranted, he has been shielded by mawkish media types that discuss tingles running up their legs, and he has exploited his race repeatedly and used it like a heat shield to preclude honest assessments of his mistakes. The man has been a colossal failure, and no amount of blame-shifting can change the fact that he honestly thought it possible to spend our way out of a recession. Consider this vignette:
According the Obama Rules of Economic Theory, if you are in a two income family and one person loses their job you should immediately: A) Renovate your kitchen; B) Buy a new car; C) Look to purchase a larger home; D) All of the above, and E) blame the neighbors for your irresponsibility. Once and for all, Mr. Obama did not fail because of the policies of George Bush, nor did he fail because the recession was deeper than he and his colluders had imagined. He failed due to ineptness caused from an intoxication with Marx that blinds him to the reality that economics is a science and not a theory. The media and Mrs. Obama persist in suggesting rejection of the president is rooted in race and privilege, which in addition to being fine Kentucky windage is akin to an abusive spouse being tossed from his home and explaining it away to friends by claiming his wife didn’t like his haircut.
Once and for all there is no connection. Jimmy Carter wasn’t a one term wonder because he was a Baptist, or a southerner, or from Georgia, or because he winced instead of smiling, because a rabbit scared him near to death while jogging, or because he confessed to once having an impure thought. He was voted out of office with inflation at 12%, interest rates at 18%, a onetime Fed Funds overnight rate of 24.75%, and having the foreign policy and military acumen of a field mouse. Is it any wonder Obama made Carter’s Federal Reserve Chairman his Economic Czar?
Marx never finished his sequel, Alinsky never offered a plan beyond anarchy for the sake of creating bedlam, and Lenin baked theories out of thin air that espoused the rights of workers, just as long as all the spoils were under his control. Hucksters lose their leverage once they run out of snake oil for illusions eventually fade under the ominous shadow of reality, which is why all of these men including Obama will remain lamentable footnotes in the annals of history, but never be esteemed in the vainglorious manner in which they regarded themselves, for bullying and chicanery have their limits and do not allow for a second act. Unless one is named Paul Volcker.
This post was written by:
Dan Bubalo – who has written 36 posts on The Daily Rant: Black
Conservative Mychal Massie’s Hard Hitting Commentary on Race,
Obama and Politics.
Daniel J. Bubalo was hired by the venerable firm of Kidder Peabody in 1978, before becoming a shareholder and partner with Drexel Burnham Lambert in 1984. He ultimately bought his own brokerage firm and steered it successfully through the market crash of 1987 before starting a venture capital and advisory company in the early 1990′s. He has been a broker, manager, owner, trader, financier, and advisor on mergers and acquisitions, and throughout his career has opined regularly about the intractable nature of government and its inextricable hold and influence on financial markets. A securities violation landed him in federal prison from 1999 to 2003 which served to only sharpen his observations, watching in dismay at the dissolution of the Glass-Steagall Act, the 2001 dot.com bubble burst without so much as an investigation or arrest, and has since lectured between 2005 and 2011 at the Neeley School of Business at Texas Christian University on government intervention and ethics, as well as being presciently critical about Sarbanes-Oxley and Dodd-Frank.
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SM-WI commented:
My husband lost his job December 2010 and hasn’t found another since. He’s no longer counted because his unemployment benefits ran out. We know lots of other people in the same situation. And, Barry might get voted back in to continue this nonsense?
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