7 Dec

With Obama safely re-elected, job gains revised downward

The Labor Department revised job growth in previous months downward somewhat. October growth fell to 138,000 from an initial estimate 171,000, and September’s declined to 132,000 from 148,000.

and there’s this little nugget:

One notable point of weakness was the manufacturing sector, which lost 7,000 jobs in the month.

NY Times

       

About DrJohn

DrJohn has been a health care professional for more than 30 years. In addition to clinical practice he has done extensive research and has published widely with over 70 original articles and abstracts in the peer-reviewed literature. DrJohn is well known in his field and has lectured on every continent except for Antarctica. He has been married to the same wonderful lady for over 30 years and has three kids- two sons, both of whom are attorneys and one daughter on her way into the field of education. DrJohn was brought up with the concept that one can do well if one is prepared to work hard but nothing in life is guaranteed. Except for liberals being foolish.

2 Responses to With Obama safely re-elected, job gains revised downward

  1. Nan G says: 1

    One version of this as a chart.
    http://static4.businessinsider.com/image/5022c47369bedd4a5d000002/unemployment-against-projections.jpg
    If you draw a line straight down at any point on the chart, the difference between the green line (where we really are) and the blue line (where Obama SAID we’d be if we threw $878 billion at it) is the failure of Obama’s policies.
    The truth is, Obama thought he could take that $878 billion and give it to his donors as rewards for supporting him while the economy would heal itself like it often did after many other recessions.
    Too bad for us he was wrong AND got re-elected.

    ReplyReply
  2. Nan G says: 2

    The media has slobbered about the ”great” Nov. data.
    But scratch the data and a completely different story surfaces.
    We are in recession mode.
    146,000 jobs is not chicken feed, but it doesn’t keep up with population growth.
    That would take 200,000 + for many months in a row.

    In the last six months, 621,000 of the 847,000 new jobs created have been in government, not the private sector.
    That’s 73% of all jobs — not a healthy labor market.

    Our unemployment rate mostly dropped because in Nov. over 1/2 MILLION American workers quit looking.
    The labor force participation rate to 63.6% with 24 MILLION Americans who want jobs sitting home.

    Over 1 in 5 small businesses plan to do layoffs in the next 6 months according to Gallup.
    Remember 80% of American jobs are in small businesses.

    As with that dotted line that showed how Obama tried to pretend the recession ended through all his US Census worker hiring and firing, re-hiring and re-firing, so, too, this pre-election ”improvement” was merely a Potemkin Village. (Literally.)

    ReplyReply

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