Posts Tagged ‘BLS’

You Call It ‘Obamanomics,’ I Call It ‘The Jobs Holocaust’

July 12, 2011

Quote:

The total number of people who were truly unemployed in June was 25.3  million.

And man that sucks (with “sucks” meaning, “swallowing everything in its path,” like a black hole of doom).

Real Unemployment Rises to 16.2% in June — 25.3 Million People
Friday, July 08, 2011
By Matt Cover

(CNSNews.com) – The real unemployment rate rose to 16.2 percent in June, the Bureau of Labor Statistics (BLS) reported on Friday, marking a return to levels not seen since January 2011.

The “real” unemployment rate is technically a combination of three measures of unemployment: the unemployment rate, the number of people working part-time who want full-time work, and the number of people “marginally attached” to the workforce.

Those who have left the workforce but would still like to be employed are considered marginally attached.

This figure is considered a more complete measure of unemployment because it captures a broader spectrum of those affected by the weak economy. Merely counting those who apply for unemployment benefits as “unemployed” does not fully account for everyone who is out of work or underemployed.

This real unemployment rate – known as the U6 rate – has been climbing since February 2011 when it was at 15.9 percent. Real unemployment peaked in October of 2009 at 17.4 percent, before falling into the 16 percent range for much of 2010.

It now appears that the real unemployment rate is returning to its 2010 levels, trending upward after staying slightly below 16 percent from February to May.

The total number of people who were truly unemployed in June was 25.3 million — the 14.1 million who were unemployed, the 2.7 million who were marginally attached to the workforce and the 8.6 million who were underemployed.

Here’s an official statistic from the BLS for all of you “Bush-blamers”:

 

Oh, yeah, that Bush was a real job murderer, he was.  Good thing we’ve got Obama now righting all those Bush wrongs.

The problem is that Obama isn’t “right” about ANYTHING.  Which leaves the American people pretty much screwed.

Understand something: the Obama administration assurred us that his $3.27 TRILLION stimulus boondoggle would have unemployment down to 6.5% by now.  But rather than acknowledging that Keynesian economics just dug its own grave, hopped in, and covered itself up with dirt where it should remain for all eternity, we are instead met with statements of fanatic religious faith that “the stimulus saved us from a depression.”

This from the same bunch of geniuses who damn Bush for his overall 5.26% unemployment rate and absolving Obama for his 9.3% unemployment average during his three years to date.

5.26%.  Bill Clinton paved the streets with gold, we are all told.  And HIS unemployment rate average was 5.2% (i.e., pretty much the same as Bush’s).  And then consider the fact that George Bush also had to deal with the Dotcom bubble collapse that began under Bill Clinton (which wiped out 78% of the Nasdaq stock exchange and vaporized $7.1 TRILLION in wealth) to go along with the 9/11 attacks and the two wars they necessitated.

Bush really doesn’t look bad at all, in hindsight to the failure Obama has brought America.  But a failed demagogue Big Brother needs to have an Emmanuel Goldstein to bear the blame.  That trick has been around since failed leaders have been around.

This is God damn America.  And I suppose you can think of it this way: in God damn America, you DO have a job.  In God damn America the only job you really need is the one you’ve got bearing the wrath of God for voting for the most evil president in American history.

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Myth Obama Created More Jobs Than Bush: ‘The Big Lie’ Becomes ‘The Big Excuse’

October 26, 2010

Hitler called it “the Big Lie.”  And it worked pretty well for him, for a while.

“All this was inspired by the principle–which is quite true within itself–that in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotional nature than consciously or voluntarily; and thus in the primitive simplicity of their minds they more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods. It would never come into their heads to fabricate colossal untruths, and they would not believe that others could have the impudence to distort the truth so infamously. Even though the facts which prove this to be so may be brought clearly to their minds, they will still doubt and waver and will continue to think that there may be some other explanation. For the grossly impudent lie always leaves traces behind it, even after it has been nailed down, a fact which is known to all expert liars in this world and to all who conspire together in the art of lying.” —Adolf Hitler , Mein Kampf, vol. I, ch. X

That “big lie” success is why the world has seen so many monsters who continue to gain and hold power all over the planet to this very day.

These days we’ve got a whole new crop of socialist plying the same strategy right here in America.  Just lie outrageously and keep lying outrageously.  Lie until your political party and the nation that you so terribly mislead are both in total chaotic shambles.  And then lie some more.  Because there will always be Democrats who are so pathologically morally stupid that they will believe anything their fuhrer tells them.

Particularly rabid Dumbocrat Debbie Wasserman Schultz expressed Big Lie 2.0 this way:

“On the pace that we’re on with job creation in the last four months — if we continue on that pace — all the leading economists say it is likely that we will — we will have created more jobs in this year than in the entire Bush Presidency,” Wasserman Schultz, a Democrat from Weston, said on FOX News.

The actual facts?  George Bush’s policies helped create an unprecedented 52 consecutive months of job growth.

Is she stupid?  A liar?  Or – my own personal pick – a stupid liar?

Thursday, October 21, 2010
MythBuster: Has Obama Created More Jobs Than Bush?

Hmmm!Rational or Ridiculous 

by: Larry Walker, Jr.

So the latest spin by the left-wing media and the White House is to repeat the following mantra, “Obama created more jobs in 2010 than Bush did in eight years.” However, how much sense does it make to compare an arbitrary nine-month period for Obama to a full eight-year term? Well none, none at all, at least not within the realm of rational human thought. For those of us who are rationally-minded, we will begin with the month that Obama took office, and compare his full term to-date with whomever.

Turning to the Bureau of Labor Statistics (BLS), when we added up the total number of private sector jobs created during Obama’s short twenty one month tenure, we found that a total of 2,991,000 had been lost (110,961,000 – 107,970,000). Oops!

Private Sector Jobs 2009/2010Total Private Sector Employment (BLS)

Private Sector Job Growth (Loss)

Busted!

Although I too could cherry-pick and find periods where private sector job growth was up by 4 or 5 million under Bush, I choose to remain among the rational. Needless to say, private sector job growth was at least slightly positive over Bush’s eight-year term, while under Obama, the words – worst track record in history – come to mind.

Is there no shame?

Democrats with shame?

That’s not just an oxymoron; it’s a category fallacy.  The modern Democrat Party is the party is the party of shameless liars.

The party of 52 million abortions has as much shame as your typical cockroach – which is zero-point-zero-zero-zero.

Two years after Barack Obama took power, and now four years after Democrats took over Congress, the Democrat message is still “blame Bush” and “blame Republicans.”  Because they literally have no other message.  Your supposed to believe that Democrats bear – to again use the math – zero-point-zero-zero responsibility for the last two years when they were in complete control of the government, or the last four years when they were in complete control of both branches of Congress.

The fact of the matter is that – by the very same standard that Democrats used to demonize George Bush in 2004Barack Hussein Obama is THE WORST PRESIDENT IN THE HISTORY OF AMERICA.

The big lie is alive and well and residing in the Democrat Party.  Only it might better be called “the big excuse.”  Whatever you want to call it, please vote it out of power these next seven days.

This Just In: Obama May Have Lost 824,000 More Jobs Than Previously Reported

February 3, 2010

Whenever numbers look bad for Democrats, the media invariably reports them as “unexpected.” Well, report THIS, mainstream media:

Barry Hussein just broke his own record for failure.

Previously, it had been reported that Obama had lost 4.1 million jobs – presiding over the greatest number of job losses under any president in any year since the Bureau of Labor Statistics started reporting jobless numbers in 1940.

But now we’re finding out that Obama pointed to the center field wall, took a radical swing, and sent unemployment soaring to nearly FIVE MILLION jobs lost with his disastrous failed policies.

There’s not much being reported about this yet, but what there is is BAD for Barry:

Feb. 3 (Bloomberg Multimedia) — The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time.

The Drudge Report filed this story under the headline, “MANIPULATE: FEDS MAY LOSE 824,000 JOBS IN ‘REVISION’.”  Which creates the sense that something very suspicious was going on to “manipulate” job numbers to make them look less awful than they actually were.

We have this found via Zero Hedge:

From the BLS:In accordance with usual practice, the U.S. Bureau of Labor Statistics is announcing its preliminary estimates of the upcoming annual benchmark revision to the establishment survey employment series. The final benchmark revision will be issued on February 5, 2010, with the publication of the January 2010 Employment Situation news release.

Each year, the Current Employment Statistics (CES) survey employment estimates are benchmarked to comprehensive counts of employment for the month of March. These counts are derived from state unemployment insurance tax records that nearly all employers are required to file. For national CES employment series, the annual benchmark revisions over the last 10 years have averaged plus or minus two-tenths of one percent of total nonfarm employment. The preliminary estimate of the benchmark revision indicates a downward adjustment to March 2009 total nonfarm employment of 824,000 (0.6 percent).

If you read the conclusion of the Zero Hedge article, you will see an example as to how extreme the disconnect between the actual state of the economy and the stock market has become.

In any event, we find that normally the error that requires correction/revision is .02; but for some reason under Obama the error is .06 — which is 300% larger than the previous ten year average.

Rush Limbaugh said that he had previously stated that he thought unemployment was higher, and that the Obama White House was monkeying with the numbers to make it appear that unemployment was at or under 10%.

Having watched Obama create a category of “created or saved jobs” out of thin air that no economist had ever seen before, and watching the mainstream media report that made-up statistic as if it were gospel; having watched Obama’s “created or saved” job numbers being based on such asinine data that a single $1000 lawnmower was recorded to have saved 50 jobs; having watched the White House engage in rampantly dishonest reporting on its job numbers; having discovered that those bogus job numbers were reported as having been “created or saved” in phony congressional districts and in phony zip code regions, well, let’s just say that I have every reason to believe that this incredibly dishonest White House is capable of anything.

I’m not one iota surprised that the BLS is dumping this news on the typical government bad-news dumping day of Friday.

In any event, you can bet that our 10% unemployment rate is about to take a monster hit.

From a quick calculation, the unemployment rate could all of a sudden be as high as 12%.

It was only yesterday that I wrote this without knowing how right I was:

I continue to believe that unemployment will continue to get worse in agreement with famed analyst Meredith Whitney:

Unemployment is likely to rise to 13 percent or higher and will weigh on the economy for several years, countering government efforts to stabilize the banking industry, analyst Meredith Whitney told CNBC.

I just didn’t know that I would literally have my instincts proven right within a matter of three days.

Myth Of Obama’s ‘Shovel-Ready’ Jobs Revealed In Unemployment Stats

January 12, 2010

Democrats’ promises of “shovel ready jobs” was a shovel load of sh*t.  That’s pretty much what we’re learning.

Here’s a headline to remember: “Construction unemployment rises to 22.7%.”

In a clear sign of construction’s persistently severe problems, the industry’s jobless rate hit its highest level in at least a decade, climbing to 22.7% in December, the Bureau of Labor Statistics has reported.

The latest BLS monthly employment figures, released Jan. 8, show that construction’s December jobless rate rose from November’s 19.4%, and also was well above the December 2008 mark of 15.3%.

“In at least a decade”?  That would be during – your audible gasp here – the Clinton years, when the streets were paved with gold (but clearly not laid by construction workers).

Hot Air shows us what a bunch of hot air Obama’s and the Democrat’s promises really were:

Democrats insisted that they would usher in a wave of new jobs by speeding up spending on infrastucture, especially road construction.  All across the US, signs began appearing that heralded the local traffic snarl as a product of the American Recovery and Reinvestment Act — Porkulus, as we came to call it.  Did it do anything to create or even “save” jobs?  The Associated Press says no:

Even within the construction industry, which stood to benefit most from transportation money, the AP’s analysis found there was nearly no connection between stimulus money and the number of construction workers hired or fired since Congress passed the recovery program. The effect was so small, one economist compared it to trying to move the Empire State Building by pushing against it.

Which is to say, Obama is depending on “the butterfly effect” for his stimulus package to actually work.

I should confess here that I have actually captured a butterfly, and have evilly created chaos all over the planet by forcing it to flap its wings.  But apparently no U.S. jobs have come out of it.

I also have to mock the part about the porkulus road signs (actually the “American Recovery and Reinvestment Act” – but “porkulus” has turned out to be FAR more accurate).  We find that the Democrats are spending millions of dollars for “stimulus” road signs that aren’t stimulating anything but the Democrats’ political slush fund to bribe votes for their ObamaCare boondoggle.

Michelle Malkin presented what the American Recovery and Reinvestment Act signs SHOULD HAVE looked like nearly 8 months ago:

Meanwhile, what is unemployment among government workers?

3.6%.

Rush Limbaugh was all over that on like poop on stink (which is rather like Obama on stimulus, but actually telling the truth):

“I mean you cannot take $50 trillion or $50 billion, any amount of money out of the private sector then put it back in and say you’re stimulating something.  You’d have to infuse money that’s not already there.  And there’s no money to do that.  You have to print it, you have to borrow it, or you have to tax it and then put it back.  This is an old shell game; it’s an old trick. It’s designed to enhance the growth of government.  But the proof is right there in the latest unemployment numbers — and I don’t mean the 10% employment, which is an obvious disaster, and I don’t mean the 17% real unemployment.  That’s an obvious disaster.  But here are two numbers from last Friday’s jobless numbers: Construction unemployment is 22.7%. It’s 22.7%!  Now, remember, the stimulus was for “shovel-ready jobs;” Roads, bridges, schools, all this infrastructure stuff.  Construction unemployment is almost 23%. Government worker unemployment is at 3%, 3.6, less than 4%.”

The Associated Press has the following story (from which the quote from Hot Air above is a part):

Stimulus for roads no path to help joblessness
Analysis comes as Obama urges another bill funding more transit projects

updated 9:01 a.m. ET Jan. 11, 2010

WASHINGTON – Ten months into President Barack Obama’s first economic stimulus plan, a surge in spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an AP analysis has found.

Spend a lot or spend nothing at all, it didn’t matter, the AP analysis showed: Local unemployment rates rose and fell regardless of how much stimulus money Washington poured out for transportation, raising questions about Obama’s argument that more road money would address an “urgent need to accelerate job growth.”

Obama wants a second stimulus bill from Congress that relies in part on more road and bridge spending, projects the president said are “at the heart of our effort to accelerate job growth.”

And Rush Limbaugh picks up from there:

“The AP is admitting here it didn’t work but then, hey, they say let’s try it again.  They outline in this piece that the stimulus money that’s been spent so far has had no effect on jobs, none.  Not anywhere.  The veil is off.  They’re no longer pretending that there are jobs created or saved.  Now, here how the story starts: “Ten months into President Barack Obama’s first economic stimulus plan, a surge in –” and it’s not Bush’s.  It’s Obama’s.  “– spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an AP analysis has found. Spend a lot or spend nothing at all, it didn’t matter, the AP analysis showed: Local unemployment rates rose and fell regardless of how much stimulus money Washington poured out for transportation, raising questions about Obama’s argument that more road money would address an ‘urgent need to accelerate job growth.'”

All they can talk about from the stimulus that’s been beneficial is the extension of unemployment compensation benefits.  So, you know, the real question there, folks, is how come despite the vast amount of history that’s available to all of us, all of the smart, so-called smart educated business and economic people, hard evidence, examples of failure and successes, charts and graphs, data out the wazoo, we still seem to be confounded by the elementary process of creating and keeping jobs.  Why is this?  Why is the blueprint for coming out of the circumstance we’re in, the 1980s, JFK in the 1960s, why is it ignored?  And why is this, government spending, constantly looked at as a panacea when it isn’t?  And the answer is it’s not looked at as a panacea.  The people in charge of doing this know exactly what they’re doing.  They’re weakening the private sector for a host of reasons that we’ve mentioned.  I’m going to get blue in the face here, repetitive.  Just don’t doubt me.  It’s being done on purpose and the reasons are all recounted in various multiple monologues at my website, RushLimbaugh.com.”

Meanwhile, the government sector is absolutely thriving compared to the rest of the economy.

Would you have supported the stimulus if you’d known the TRUTH: that instead of “shovel-ready jobs” we’d be getting “bureaucrat-ready jobs”?