President Obama got a mixed jobs report the morning after his acceptance speech at the Democratic National Convention.
The Labor Department reported that the unemployment rate fell from 8.3 percent in July to 8.1 percent in August.
Total jobs added, though, were just 96,000, far short of the 130,000 expected by analysts.
Employment increased in food services and “drinking places,” in professional and technical services, and in healthcare, according to the report.
Both the civilian labor force (154.6 million) and the labor force participation rate (63.5 percent) declined in August.
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 5.0 million. These individuals accounted for 40.0 percent of the unemployed.
June and July data were also revised to show 41,000 fewer jobs created than previously reported.
More:
White House: Jobs Report ‘Further Evidence’ that Recovery is Working
Sorry, not mixed. Bad, bad, bad, all the way around. 368,000 drop out of labor force. That accounts for the 0.2 drop in rate. 15,000 manufacturing jobs lost, the one sector that had shown some life over the last year. Downward revisions of both June and July numbers, 41,000 less jobs created then previous estimates.
Agreed. There’s no *mixed* about it. It’s awful.
If labor participation was at the 30 year average, unemployment would now be 11.7%. Every single day of this travesty of an administration has meant double-digit unemployment. The reality is awful. Romney should be winning by 20 points. Charlotte this week should have burned like Chicago 1964. By comparison, during the Bush era, real unemployment was as low as 1.8%.
If the country knew the truth, we would be in the middle of a de facto civil war.
You now know the truth.
The leftists have found themselves caught in a vortex of their own making.
On the one hand, they need good economic numbers to gain re-election.
However, the worst economy since the depression was planned, certainly not happenstance.
In order to reshape/remake/transform/change America into a mini power, as opposed to a hyper power, the first thing required was an economic implosion.
And, the Radical-in-Chief/Thief-in-Chief/Thug-in-Chief/Islamist-in-Chief – take your pick – sped up the process on steroids.
Read ‘http://adinakutnicki.com/2012/08/07/barack-hussein-obamas-deconstruction-plans-green-wise-via-the-economy-disarming-the-citizens-via-gun-control-connecting-the-dots-addendum-to-the-second-term-plans-of-an-obama-presidency-c/
So, it is interesting to watch them feign dismay over economic indicators, pretending to cry in their soup about the plight of the average American, all the while they are the pyromaniacs at the economic switch!
More bad news. 63.5% participation rate is a new 30 year low for US.
Anyone want to bet their farm that the unemployment rate, as “objectively” and “professionally” “calculated” (with incomprehensible and magical “seasonal adjustments”) by the Labor Department subsidiary of the Obama Re-Coronation Campaign, slowly declines to less than 8% by the middle of October? This of course despite “unexpectedly” lower job creation than predicted by “all economists” at the NY Times.
Correction: That should read “the consensus of all NY Times Nobel Prize winning economists and all “independent” “objecive” former Obama staffers analyzing Romney’s proposed plans for the “unbiased” “neutral” “non-partisan” Brookings Institute.”
This is off the subject but your post reminded me of all the Mediscare ads I’ve been seeing sourced by the “non-partisan” AARP.
The unemployment rate dropped because there are fewer people in the job market. The civilian labor force and the labor force participation rate are the real story here.
More people are going on Disability each month than are getting a job. Those rates cannot continue forever.
No worries… Obama is focused like a laser on the economy. He’s blasting holes in it, right and left…
Yeah, but mostly left
Shocking statistic highlighted by the Mail Online. It is time for politicians to stop hiding the real figures.
The 69.9 per cent labor force participation rate for men is at lowest level recorded since the US government began tracking it in 1948.
http://www.dailymail.co.uk/news/article-2199815/Obamas-DNC-2012-speech-Bleak-unemployment-numbers-morning-Obama-tells-DNC-problems-solved.html
Excellent get by Daily Mail, and you. That statistic is a disaster wrapped in a catastrophe inside a tragedy.
Statistics of similar import. Construction employment makes up only 4.14% of private sector jobs, the lowest percentage since the ’80s. And mining employment was down this month.
In this economy, a fit man with a strong back and a high school diploma cannot find work.
I’m surprised to find out that there has been very little spin done by the media with this report. Virtually every internet article I’ve gone over has said within the first few paragraphs that this is bad for Obama’s re-election chances and that the unemployment rate only dropped because people have left the labor force and quit looking for work. Did not expect this level of truth from the MSM since they did muff up a few earlier reports where the causes and results were the same as this one.
Still, it’s up to the Romney campaign and conservative PACs to educate voters on this issue but at least the media is actually reporting neutrally for once.
How in the world could this news be considered mixed, when all of the facts in the comments listed above are true, and the fed is looking to pump even more?
The damn house is on fire, and half of America is still holding the Obama remote with sippy cup in hand. Never did I think I would live to see the day America could become this stupid…
Notice that virtually every month now for months on end the previous months numbers have been revised downwards. You can bet that the September numbers will be revised lower, my bet is after the election.
Amazing that American workers are putting up with policies that produce such a poisonous environment for business. This administration is the most unfriendly towards free markets and free enterprise in the history of our nation. the unemployment rate is a symptom of that animosity.
I trust that people are waking up.
And I suspect this 96,000 number will also be revised downward in October.
Unexpectedly, of course….
FYI – the Labor Force Participation Rate is the lowest since 1981, just after Carter left office
I wonder why? (Rhetorical Question!)
I believe it is also the lowest since 1948.
Odd. Rumors last night were that the report would be over 200k.
“We’ve Heard It All Before” (Extended Cut)
http://www.youtube.com/watch?v=fZgQhnNRSuw&feature=player_embedded
Please note that the numbers by the Bureau of Labor Statistics are being fudged. I work for one of the largest defense contractors in the country and things began turning south for us a little over a year ago when major layoffs began on a regular basis. Up until November of last year we would be hassled by the BLS if we were even a few days late with our monthly report to them on headcount statistics. November 2011 was the last submission I made (bad news naturally), and I have not bothered filing since (it’s a pain in the butt when you’re trying to do your job with a shrinking staff). I have not heard from them…at all, and it has been 10 months since my last filing. Something is up, folks.
Figures may not lie, but liars can figure. When you look at the raw data we are in a “jobless recovery”, whatever the hell that is. 96,000 is a far cry from the number of jobs needed to break even, and any gains were in the so-called “service industry”, another misnomer if I ever heard one.
If we had comnpetent leadership and a sane fiscal & energy policy, would be on the cusp of a manufacturing boom. Instead we stand on the edge of a cliff, about to follow the lemmings off unless we get Senate, House, & WH back in the hands of grownups for a few years.
I know other people have already harped on this point, but, seriously, that’s what we’re going to call a “mixed” report? There’s only one number on that sheet that isn’t awful on its face… the overall unemployment rate… and when you take it in the context of the decreased labor participation and the shortfall from the predictions, it looks pretty sad. And when you factor in the whopper downward adjustment of prior months (which is becoming laughably common), it suggests that this already mediocre number would be lucky not to become poor or even abysmal in the future.
And by the way, Obama, I notice that this is yet another month of over 8% unemployment for your sterling record. I feel like increasing the employment at some “drinking places” myself.
No sale.
We get to the point that the only job is a government job. Then we restrict voting to the employed, because there is no end to what recipients of government aid will vote for themselves.
Who said Obama has no plan?
Yeah, I’m too cynical. I’m the sort who’d believe anything of people who think nothing of giving guns to drug cartels.
– read too much into it. No, of course not.
All of US can use a little humor these days. So, I hope you will enjoy this youtube video. Relax and laugh!
A collection of news clips, photos, and interviews pieced together and edited; featuring a background soundtrack of sound bites from Aretha Franklin’s epic song, “Chain of Fools.”
http://www.youtube.com/watch?v=p34vecSRFeg&feature=player_embedded
So all I hear on all the streaming internet radio stations for the past 8-12 hours is the unemployment rate DROPPED to 8.1%. This deceptive tripe of course is mostly AP, Asshole Propaganda, or Complete Bull Shit CBS news. Why the hell do I listen to conservative shows and every 10 mins (it seems) AP comes on to spread their GD LIES .. Why? It is so bad that I never have any radio device running without my ability to instantly mute the sound. And I’ve become damn good at doing in a sub-second reaction.
8.1% is a total lie.
http://www.shadowstats.com/alternate_data/unemployment-charts
I guess if the uneployment rate goes under 8% but a million more people stop looking for jobs because they can’t find work, then Obama and his minions will still consider that a success. Heck, we could add only one job a month and they would still claim success. This is just getting pathetic. I can’t see why anybody would vote for a guy who wants to continue these failed economic policies. Hope the American people come to their senses by November 6.
Will never understand how they figure out this percentage. It’s a joke! They will bring it down under 8% by November no matter hows many people are unemployed.
After watching the fawning press for “0″ how in the word are we letting these people narate the debates? They will give “0″ the questions – there is no doubt.
One year ago today President introduced The American Jobs Act which the GOP not only promptly rejected but have refused to negotiate with on any level. The plan was praised by credible economist and would have generated around 2 million jobs depending on who you asked. Moody’s Analytics said it would add 1.9 million jobs and 2% to the GDP. The Economic Policy Institute estimated 2.6 million jobs and protecting 1.6 million existing jobs. Macroeconomic Advisers said it would create 2.1 million jobs with 1.5% to the GDP, as did Goldman Sachs.
Yet, Republicans said no. And that no contradicted the way they’ve governed for years,even contradicting their very own policies. They’ve historically said that a payroll tax cut would help create jobs but now that doesn’t apply for Obama. They used to say that the Economic Development Administration is great for the economy but refuse to allow Obama to use their very ideas. They have long supported infrastructure investment but I guess that’s only allowed under Presidents they like. They’ve endorsed the TANF Emergency Fund as an awesome way of lowering unemployment yet under Obama, they want nothing to do with it. They seemed comfortable with the qualifications of Obama’s nominees for both the Treasury Department and the Federal Reserve, both important for working on economic policy and promoting economic activity who could also help improve the economy but they’ve seemed to have problems with the man that nominated them and accordingly, obstructed their appointments. They’ve even demanded Congress and the White House to take money out of the economy and eliminate public-sector jobs, even when conservative economists say that’s crazy. What’s more, these same Republican officials have made it abundantly clear that failure to give them the cuts they wanted, which would hurt the economy, would force them to crash the economy on purpose. And indeed, our credit rating was lowered by their actions. And this was all done with the clear admission of “insuring Obama to be a 1 term President”.
What’s interesting is that the entire presidential primary has been an Obama bash fest taken to a new level by Fox News while other media sat on their hands. The Dem Convention (which Gallop scored a 7 point bounce) brought these arguments front and center.
The American Jobs Act was popularly — and properly — known as “Son of Stimulus” because it did all the same things as the American Recovery and Reinvestment Act of 2009 — and we all know how well that worked. The economists who praised this effort and promised new jobe because of it also praised the 2009 effort. People like that always argue from theory, never from results. Pieces of it were eventually passed with the consent of Republicans — because if the Republicans hadn’t consented, it would never have gotten out of the House.
Tim Geithner was confirmed as Treasury Secretary Jan. 26, 2009 despite not paying FICA taxes and taking improper deductions. Obama was sworn in Jan. 20. It’s difficult to see how confirmation could have been quicker. Jeremy Stein and Jerome Powell were confirmed to the Federal Reserve May 17, 2012, filling all the seven seats for the first time since April 2006. This would indicate that two consecutive administrations didn’t consider topping off the Federal Reserve Board a matter of the first importance.
Oh, and the 7-point bounce? That’s his favorability rating. When Gallup puts him up against Mitt Romney, he only gains two points. Before the conventions: Obama 47, Romney 46. After the conventions: Obama 49, Romney 45. Sure, his favorability rating went up, but we’re choosing a President, not a dinner partner. Carter was tied with Reagan at this point in their race, and you remember how that came out.