The unemployment rate ticked up in January to 7.9%. During the last quarter of 2012, the “U.S. economy shrank for the first time in more than three years.” In just a matter of days, the sequester will kick in, enforcing across-the-board spending cuts.
We’ve got serious problems in this country. Not only is the economy barely limping along, possibly headed towards a double-dip recession, but there are warning signs across the globe: from North Korea’s nuclear and missile launch tests, to Iran’s drive for nuclear weapons and atrocities in Syria that threaten to spill over into neighboring countries, danger lurks in many places.
So by now you have heard that the national unemployment rate ticked up in June to 9.2% from 9.1% in May. As Phil Izzo over at The Wall Street Journal points out, the unemployment rate would actually be higher than 11% if the recession hadn’t decreased the size of the labor force.
“The unemployment rate increased to 9.2% in June, the Labor Department reported, but if the recession hadn’t pushed so many people out of the labor market it would have been much worse.” (Phil Izzo, “Without Dropouts, Jobless Rate Would Be Over 11%,” The Wall Street Journal, 7/8/11)
Today, the U.S. Deptartment of Labor reported the unemployment rate climbed again to 9.2%, setting a record post World War II record of 29 straight months of unemployment above 8%. Back in March 2010, Nancy Pelosi sold ObamaCare as a "jobs bill", stating "this bill is not only about the health security of America it's about jobs. In its life it will create 4 million jobs, 400,000 jobs almost immediately. Jobs again in the healthcare industry, but also in the entrepreneurial world as well." Nearly a year and a half has passed since Democrats rammed ObamaCare through. Where are those jobs?
You know, it shouldn’t surprise me anymore that President Obama’s Administration will sacrifice anything to impose its liberal agenda, even American jobs, but I’m still always dumbfounded by it. It happened to me again today. The New York Times is reporting the Environmental Protection Agency (EPA) implemented “new standards for coal-burning power plants in 28 states that would sharply cut smokestack emissions that have polluted forests, farms, lakes and streams across the eastern United States for decades.”
The “new” EPA regulations though will do much more than “cut smokestack emissions”, as many existing coal plants will be forced to close and expensive upgrades will be required to keep others online.
Wow, not much for me to do here but let you read for yourself what President Obama’s top political adviser said yesterday regarding whether voters will hold the Obama Administration responsible for the economy:
White House Political Adviser David Plouffe: “The average American does not view the economy through the prism of GDP or unemployment rates or even monthly jobs numbers.” (Julianna Goldman, “Unemployment Rate Won’t Hobble Obama’s Re-Election, White House Aide Says,” Bloomberg, 7/7/11)
Interesting. That’s some incredible spin when you consider this:
The Great Recession has taken its toll on the country. Unemployment remains at 9.1% nationally. 7.51 million Americans remained on emergency unemployment benefits in June. That doesn’t even include those who have run out of benefits and now sit idly on the sidelines. Nor do any of these figures account for the millions of underemployed.
Yet, despite these horrific numbers, some states have fared better than others. A handful of states have managed quite well in fact, given the circumstances. One, Texas, has weathered the recession as one of the fastest growing states due in part to an economy that is well diversified.
The month of June came to an end yesterday, but the nightmare for millions of unemployed Americans continues. The reports out on jobless claims extending its streak of 12 straight weeks above 400,000 paints only the edges of the larger picture. The unemployment portrait finds more than 7.5 million people claiming unemployment benefits. This figure does not include those who have long since seen their benefits dry up.
“The number of people on emergency unemployment benefits climbed 1,471 to 3.30 million in the week ended June 11, the latest week for which data is available. A total of 7.51 million people were claiming unemployment benefits during that period under all programs, down 30,701 from the prior week.” (“Jobs Picture Remains Ugly As Claims Still High,” Reuters, 6/30/11)
President Barack Obama today said he is “happy to report that we received some very encouraging news.” The news? “The economy added 290,000 jobs with the vast majority, approximately 230,000, coming from the private sector,” said President Obama.
Oh, what rose-rimmed glasses the President wears.
As reported earlier, the unemployment rate rose to 9.9%, the first increase in three months. To make matters worse, the rate of those who have given up looking for work or who can’t find full-time employment rose for the third month in a row, rising .2% to 17.1%.
If increases in unemployment and underemployment are measurements of encouraging news, I’d hate to see what the President thinks bad news is.
Even though the economy added jobs in April, the unemployment rate increased from 9.7% to 9.9%.
“The American Economy Added 290,000 Jobs In April, Which Was Much Better Than Expected Despite Temporary Hiring For The 2010 U.S. Census.” (Jeffry Bartash, “290,000 Jobs Created In April; Jobless Rate 9.9%,” Market Watch, 5/7/10)
“Excluding Census Workers, 224,000 Nonfarm Jobs Were Created. . .” (Jeffry Bartash, “290,000 Jobs Created In April; Jobless Rate 9.9%,” Market Watch, 5/7/10)
“. . . The Unemployment Rate Edging Up To 9.9% From 9.7%.” (Jeffry Bartash, “290,000 Jobs Created In April; Jobless Rate 9.9%,” Market Watch, 5/7/10)
Mike Allen over at Politico reported this morning that Democrat Committee Chairman Tim Kaine is “billing” the Democrat Party as the Party that gets results. Allen excerpts from Kaine’s prepared remarks, highlighting the “results” Kaine is championing. Among those “results:”