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Old 08-04-2012, 07:23 AM
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I also offer to those who choose to fawn over the President...

"Only in a world of lowered, New Normal expectations was the July jobs report anything less than another disaster for U.S. workers. Nonfarm payrolls rose 163,000 last month as the unemployment rate rose to 8.3%. In addition, employment for May and June was revised by 6,000 jobs.

– 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.

– Job growth, as measured by nonfarm payrolls, has average about 75,000 jobs a month during the Obama recovery for a total of 2.7 million jobs. Context: During the first three years of the Reagan Recovery, job growth averaged 273,000 a month for a total of 9.8 million. If you adjust for the larger U.S. population today, the Reagan Recovery averaged 360,000 jobs a month for a three-year total of 13 million jobs.

– This continues to be the longest stretch of 8% or higher unemployment since the Great Depression, 42 straight months.

– If the labor force participation rate was the same as when Obama took office in January 2009, the unemployment rate would be 11.0%.

– Even if you take into account that the LFP should be declining as America ages, the unemployment rate would be 10.6%."


July jobs report: America’s labor market depression continues | AEIdeas

We are in trouble......if keeping your head in the sand to serve your political beliefs is what you want, that is your choice but do not allow the machines to sway you from what is true.