Friday’s jobs report was worse than I thought. Let’s go to Mort Zuckerman for the numbers behind the numbers:
Washington, Wall Street, and the business world were astounded and dismayed by the dismal employment statistics recently put forth by the government. We need 125,000 jobs every month just to account for people entering the workforce, but the numbers show only 18,000 more jobs in June and 25,000 in May. And the June numbers included the assumption that 131,000 net jobs were created by newly formed companies, a generous assumption that has proved to be consistently overstated by the Bureau of Labor Statistics for the past three years. [Emphasis added]
Yesterday, BLS reported that it had revised June’s meager gains up — a nice change. And apparently they did so by assuming 131,000 jobs. And we all know what happens when one assumes. But — and this is the part that will really steam your cheese — BLS had to assume those 131,000 jobs to get to a revised total of 18,000. Actually, there were fewer people working, part-time or full-time, in June than there were in May.
So what was the real unemployment rate in June? Was it 9.2%, as previously reported? Higher? Lower? Nobody knows, because BLS is just making stuff up. Drop the “L” out of the acronym and you’d have a more accurate label — and that’s no assumption.
But enough bad news. Let’s get to the really bad news. This next bit will make you cry:
Almost ignored by the press is the fact that full-time employment dropped by 435,000 in the last month and, over the past three months, it is down by a combined total of 868,000 jobs. There has been a 3 percent increase in the number of people working part time, but full-time employment has been down 0.5 percent for the full year. In fact, all of the net job increases since President Obama came into office were part-time employees and not full-time employees, a critical distinction.
Barack Obama — the Part-Time President.
Help me make that label stick, won’t you?
“Barack Obama — the Part-Time President.
Help me make that label stick, won’t you?”
I present to you this quote from German General Kurt von Hammerstein-Equord in Truppenführung, 1933: “I divide my officers into four classes; the clever, the lazy, the industrious, and the stupid. Each officer possesses at least two of these qualities. Those who are clever and industrious are fitted for the highest staff appointments. Use can be made of those who are stupid and lazy. The man who is clever and lazy however is for the very highest command; he has the temperament and nerves to deal with all situations. But whoever is stupid and industrious is a menace and must be removed immediately!”
Barack Obama is stupid and lazy, not stupid and industrious. Likely the General never concieved of the day when such a person would actually be put of in CHARGE of anything, otherwise he likely would’ve the stupid and lazy in the “remove immediately” category also.
I seem to recall that the Press was all over the “Number of jobs needed to cover those entering the workforce” statistic when Bush’s continuous job growth was going on. Guess they forgot it in Obama’s honor.
Feh, you just fail to realize that Teh Won is just so far apart from all us mere mortals that a job like the Presidency, well, we should feel privileged that he even troubles his lil community organizer head with such trifles even on a part time basis.