It’s Worse Than We Thought… Obama’s Dead Parrot Economy Actually Lost 26,000 Jobs in June

Can you say Double-Dip?
Barack Obama’s trillion dollar stimulus did not just fail… It failed magnificently.
The dead parrot economy actually lost 26,000 jobs in June rather than creating 18,000.

The New York Post reported, via JWF:

The Labor Department officially announced that only 18,000 jobs were created during the month of June compared to May’s levels. That’s considerably below the 157,000 jobs that payroll-processing firm ADP said on Thursday were added by companies in the private sector.

Our economy is said to need at least 150,000 jobs a month just to keep up with people entering the workforce. So even job growth of 150,000 isn’t good enough.

Worse, not only are newcomers trying to find positions, but there are also 7.084 million fewer jobs in this economy than there were at the 2008 peak. So people who’d like to get their careers started are competing against millions of experienced job seekers looking to just get back into the game.

Now for the really bad news: that 18,000 gain announced by the government yesterday isn’t real.

For one thing, the number of jobs increased in June only because the Labor Department simultaneously revised downward the number of jobs that existed in this country during May. It’s like moving the fences at Citi Field so the Mets players can hit more home runs. It might make Jose Reyes feel better, but it doesn’t actually make him more powerful.

Without the fence-moving operation in the May employment report, the June number — yesterday’s number — would have shown a decline of 26,000 jobs.

Photo of author
Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

You can email Jim Hoft here, and read more of Jim Hoft's articles here.

 

Thanks for sharing!