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Obama, MSM Omitting Key Facts on June Unemployment Numbers

President Obama lauded the drop in the unemployment rate from 9.7% to 9.5% as a sign of "continuing recovery" in a brief speech at Andrews Air Force Base this morning. "Make no mistake: We are headed in the right direction," the President said before heading to West Virginia for Senator Byrd's funeral. Most complicit mainstream media coverage has gleaned on the 9.5% figure, but the internal unemployment data tell a very different story.

The jobless rate fell solely because 652,000 unemployed people stopped searching for work and left the labor force during the month of June. People who have ceased looking for work are no longer counted as unemployed. The decline of 301,000 household employees was more than negated by the drop of 652,000 in thew work force.

Private businesses did add 83,000 new jobs to their payrolls last month, but nearly half of those were seasonal hotel and hospitality positions. On the surface, the figure may sound encouraging, but our economy needs to add almost 150,000 new jobs each month jobs just to keep pace with new workers entering the market. We now have 14.6 million Americans actively seeking employment now with millions of others having given up hope.

In a written statement, House Minority Leader John Boehner unloaded on the President this morning, saying, "This jobs report is a disappointment for every family and every small business who heard President Obama declare just weeks ago that our economy is getting stronger by the day... The writing is on the wall for President Obama's 'stimulus' policies and everyone -- taxpayers, economists, and the rest of the world -- sees it but him."

Boehner's assessment of the President's rosy view of the economy appears to have merit. Housing sales plummetted 33% last month and new home construction declined by almost 30%. Automobile sales also plunged 30% in May and the Dow Jones Industrial Average has dropped over 10 percent over the past 3 months. With dramatic tax increases set to resume in six months, the long-term prospects of genuine improvement in the jobless rate seem remote.


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Comments (14)

Obama: "Make no mistake". S... (Below threshold)
Roy:

Obama: "Make no mistake". Sorry, pal - we did that a couple of Novembers ago. And boy was it a big one.

Ya gotta love the combinati... (Below threshold)
apb:

Ya gotta love the combination of the Jug-Eared Douche and the MFM - they've merely become a punchline. I think we're at the point where even the dumbest of the "hope 'n' changers" are beginning to suspect they've put a moron in charge.

The TRUE unemployment numbe... (Below threshold)
Justrand:

The TRUE unemployment numbers are so much higher, yet our Putz-in-Chief takes credits for an accounting trick that makes the most public number seem lower.

Tougher to hide are the dramatically declining Federal revenues...if ya ain't workin', ya ain't payin' taxes! Including if you are working "off the books"...you aren't paying then either!

One Big Ass Mistake, America!

Liars figure and figures li... (Below threshold)
GarandFan:

Liars figure and figures lie. And we've got the biggest liar in the world right now, sitting in the White House.

Ummm, can someone... (Below threshold)
irongrampa:


Ummm, can someone explain to me why, if unemployment is at X, does ADDING Y to the number decrease it?

Unemployment can only be exponential, regardless of the reasons given for it.

Is this like increasing the chocolate ration from 30% to 25%?

Ya forget, Iron, that in Ob... (Below threshold)
GarandFan:

Ya forget, Iron, that in Obamanomics, pluses are negatives while negatives are positives. When you don't count a negative, it automatically becomes a positive. See?

We're spending our way to prosperity! Only 60 more days of "The Summer of Recovery"!

Since when do facts even ap... (Below threshold)
Tsar Nicholas II:

Since when do facts even apply to Democrats??

Instead of "Palestine" they... (Below threshold)
GarandFan:

Instead of "Palestine" they should call it "Loser-stan". The name would be a heck of lot more accurate.

So did the jobless rate dec... (Below threshold)
Jay Guevara:

So did the jobless rate decline ...unexpectedly?

Not to worry, Barry will ge... (Below threshold)
914:

Not to worry, Barry will get to creating some jobs just as soon as he plugs that hole.

The Republicans are being r... (Below threshold)
John S:

The Republicans are being real stupid shits on this issue. The phony headline unemployment rate dropped partly because the Republicans blocked 3 votes in the Senate and people lost their unemployment benefits. For a crummy $40 billion they could put 2 million people back on the dole and raise that unemployment rate to nearly 12 percent in time for the mid-term elections. Maybe they could get enough seats to impeach the idiot and deport him back to Kenya.

To Obama, the econom... (Below threshold)


To Obama, the economy truly is moving in the right direction; all those tech jobs that have been lost were the wrong kind of jobs.

What's the point of being King of the World if mere peons like us can wear business suits, work in air-conditioned offices, and operate computers better than he does?

When he promised "shovel ready", he meant that literally. :(
-

Back to Kenya, John S? ... (Below threshold)

Back to Kenya, John S?

When he attended grade school in Indonesia, his enrollment details included that he was a muslim Indonesian called barry Soetero.

When he took US welfare as a FOREIGN college student, he said he was an Indonesian and that his name was Barry Soetero.

When, during a period when American travel there was forbidden, he traveled to some place he calls "parkistarn," he traveled on an Indonesian passport issued to a Muslim Indonesian called Barry Soetero.

Hmmmmmmmm ..... That Muslim Indonesian Barry Soetero feller gets about, eh?

Wonder who he is and/or was?

Although -- and this despite that his mother was, in Law and, in addition to having been statutory raped by, among others, Barry Soetero's male parent, an infant -- and thus not able to pass on her being American to her offspring -- and the person almost most often alleged to have been his male parent was a British East African, a Kenyan, there is no evidence that person was in fact either his male parent -- or that he ever called the Indonesian Muslim, Barry Soetero "a Kenyan."

...652,000 unemployed pe... (Below threshold)
MjM:

...652,000 unemployed people stopped searching for work and left the labor force during the month of June. People who have ceased looking for work are no longer counted as unemployed.

The first part of that statement is not completely true. The reason most are no longer counted as unemployed is because their benefits have finally run out. Once your bennies run dry you are simply dropped from the count; unemployment numbers come from claims filed.

Secondly, the idea that hordes of people have simply stopped looking for work is, in my opinion, absurd on its face: What? Your mortgage doesn't need paying any more? You don't need to eat?




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