By: Edmund Jenks – West Coast Editor
The following was posted by the Chairman of the House of Representatives Ways and Means Committee, Dave Camp, to add perspective to the latest report by the Obama Administration on unemployment for the month of September 2012.
The Department of Labor report stated that the unemployment rate decreased to 7.8 percent in September, and total nonfarm payroll employment rose by 114,000, the U.S. Bureau of Labor Statistics reported Friday, Oct. 5, 2012. Employment increased in health care and in transportation and warehousing but changed little in most other major industries.
For the unemployment rate to drop in one month from 8.1% to 7.8%, normally would require a growth in the economy of over 5%. This economy, however, is stuck and declining at under 2% at about 1.4% growth … so what accounts for the drop?
Not much other than that this governmental department (Dept. of Labor) is headed by people who have donated money to the Obama for President 2012 campaign and that they used phone survey data (a polling guess) from random households. With only one more jobs report until the election in November, this information really seems beyond suspicious … or even truthful.
This report from the U.S. House of Representatives Ways and Means Committee, the folks who actually spend our tax money.
This excerpted and edited from Wikipedia –
The Committee of Ways and Means is the chief tax-writing committee of the United States House of Representatives. Members of the Ways and Means Committee are not allowed to serve on any other House Committees unless they apply for a waiver from their party’s congressional leadership. The Committee has jurisdiction over all taxation, tariffs and other revenue-raising measures, as well as a number of other programs including:
- Social Security
- Unemployment benefits
- Enforcement of child support laws
- Temporary Assistance for Needy Families, a federal welfare program
- Foster care and adoption programs
This excerpted and edited from House.gov –
10 Key Facts on Jobs and Unemployment
1. 4.1 Million Fewer Jobs than Projected: In January 2009 the Obama Administration forecast there would be 137.6 million jobs in December 2010. Instead there were 130.3 million jobs in December 2010. Even 21 months later in September 2012, there are just 133.5 million jobs – 4.1 million fewer than the Administration’s forecast for late 2010.
2. Slower Jobs Recovery than during the Great Depression: This is the only “recovery” since World War II when jobs lost in the recession had not been recovered by this point. In fact, the recent pace of job creation during the “Obama recovery” has been slower than during the Great Depression.
3. Less Full Time Work: Since January 2009 the number of full-time employees has fallen by over 600,000 while part-time employment has grown by almost 1.4 million. This means part-time workers account for all of the net employment growth in the Obama years – the opposite of what Democratspredicted when they said their stimulus plan was “likely to move many workers from part-time to full-time work.”
4. Manufacturing Jobs Down: Since January 2009 over 600,000 manufacturing jobs have been eliminated, the opposite of the Administration’s projected increase of 408,000 manufacturing jobs due to their trillion-dollar stimulus.
5. Ten Times More New Dropouts than New Employees: During the Obama Administration, the number of people not in the labor force has grown by 8.2 million while total employment has grown by less than 800,000. This means that during the Obama years new workforce dropouts have outnumbered new employees by 10 to 1.
6. Far Higher Unemployment Rate than Projected: September’s 7.8% unemployment rate remains far above the 5.5% rate the Administration predicted for this month in their January 2009 report on the projected effects of stimulus. Democrats actually predicted unemployment would fall to 7.8% in September 2009 – a full three years ago.
7. Real Unemployment Is Almost 11%: If the unemployment rate included the “invisible unemployed” (discouraged workers who dropped out or never joined the workforce), the September 2012 unemployment rate would be 10.9%:
10. Economic Misery up 80%: The “Obama Misery Index” shows that unemployment and debt have risen by a combined 80% since the start of the Obama Administration.