Posts Tagged ‘unemployment’
UPDATE: The U.S. Labor Department on Monday said it is “working hard to ensure the timely release” of the October jobs report, saying it intends to released the report on schedule Friday despite Hurricane Sandy. Friday’s employment report will be the final read on the labor market ahead of the November elections. Initial reports that a delay was possible briefly fueled speculation that the jobs data, good or bad, might not be revealed until after the elections. via UPDATE: Labor Department ‘Working Hard’ to Ensure Jobs Report Released on Time - Real Time Economics - WSJ.
The Bureau of Labor Statistics September Jobs report was released this morning and showed a 114,000 jobs increase in September. But during the end of last month the BLS revised employment numbers upward just in time for an election. The labor for participation rate has increased by only 0.1% which is still at decade lows. The Obama Administration put out a statement touting the numbers. The Employment Situation in September While there is more work that remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the [...]
Disturbing, yet not unexpected, trend. Image Credit: statspotting.com By: Edmund Jenks - West Coast Editor The following entries were placed on Twitter at 140 characters or less in reaction to the announcement of July 2012 employment (unemployment) statistics gathered and published by this 44th Presidency of Barack Obama. Some contain links to additional information and published reports about this release of these July statistics. Edmund Jenks @TheEDJE July jobless report, due to changed next Thursday, is 163,000 jobs filled and joblessness increases to ... 8.3% - U6 @ 15% #tcot #tlot #p2 Edmund Jenks @TheEDJE RT @keder: Oh, the Obama economy still sucks? Color me [...]
Today's dismal Job growth and unemployment rate figures show that the Obama economy is hurting those more who he campaigned for the most. The President continues to say that the policies of the past don't work, But the Obama policies are clear - Minorities were better off Under Bush. "The slow pace of jobs growth underscores the weakening economic growth momentum and reinforces the perception that the economy has remain mired in another soft patch," Millan says. "With the labor market recovery appearing to be stalled, the case for further policy accommodation will likely be strengthened, particularly given the benign inflationary background." The report comes in sharp contrast to private payrolls data out of ADP just a day earlier that showed the economy expanded by 179,000 [...]
"Middle class is also an attitude. It's not just about income, it's about knowing what's important, and not measuring your success just based on your bank account ... It's about your values, and being responsible, and looking after each other, and giving back." - President Obama speaking in Parma, Ohio. Image Credit: Obama Biden 2012 By: Edmund Jenks - West Coast Editor The economy added 80,000 jobs last month, the Labor Department reported Friday, after a revised increase of 77,000 in May. The unemployment rate remained at 8.2 percent. Economists are expecting tepid job growth for the rest of the year, too. Soon after the June unemployment numbers were announced, Mitt Romney made the following live statement from Wolfeboro, N.H., where he and his family were vacationing., [...]
This guys really loves his golf, but he says he won't "rest" when it comes to the Gulf oil spill, creating jobs, providing health care for the nation, and getting homeless vets off the streets. via President Obama's "I will not rest" Vacation highlights. - YouTube.
Last year we reported that President Obama's Misery Index topped that of George W. Bush. Today we want to look at how the Misery Index affects incumbents in an election year. The Misery index can be calculated simply by adding the current unemployment rate (8.1) by the inflation rate (2.3) = 10.4 Misery Index Historically, a high (or climbing) misery index has been a political football resulting in a change of Presidents while a low (or falling) misery index resulted in reelection. Eisenhower was reelected in November 1956 with a misery index of 6.53%. Johnson (D) ended with a misery index of 8.13 in November of 1968. So Humphrey the Democratic candidate lost to Nixon. Early in the Nixon administration the misery index climbed to a high of 11.67% in December 1970. From [...]
Claims for jobless benefits UNEXPECTEDLY (yeah, as if!) climbed by 6,000 to 386,000 in the week ended June 9 from a revised 380,000 the prior week that was more than first estimated, Labor Department figures showed today in Washington. Economists projected claims would fall to 375,000, according to the median estimate in a Bloomberg News survey. Image Credit: Jessica Rinaldi/Reuters By: Edmund Jenks - West Coast Editor With yet another revised release of information on Thursday ... the Thursday AFTER the Friday release of economic indicators found in employment and additional Government assistance, the news is always worse than reported. It is good during this 44th Presidency to never focus on the Friday numbers but to focus always on these Thursday numbers because they are almost [...]
Last Friday, the unemployment rate rose to 8.2 percent and 300,000 more people joined the long-term unemployed. One week later, President Obama said the private sector is doing fine. Only a president that presides over forty months of unemployment over 8 percent would think that the last jobs report is "doing fine." These comments show that President Obama is completely out of touch with the middle class. via Jolt - YouTube.
CAROL COSTELLO: You could say the South is in the middle of a hiring surge as big name businesses head to the region bringing thousands of new jobs with them. Here’s just a few of the companies: Hyundai is adding a third shift at an assembly plant in Alabama, while in Tennessee, Volkswagen has opened its only U.S. plant, spending a billion dollars to do it; Caterpillar is actually moving a plant from Japan to Georgia, and in Kentucky, GE has invested millions to reopen and revamp an appliance factory. Poppy Harlow has been all over this story joining me now. Automakers have been doing this for years and now GE and Caterpillar—what’s next? POPPY HARLOW: I’ve been down to most of those plants to see it firsthand. There are four main reasons why this is happening. A big [...]