« True Confessions | Main | Justice redefined »

July Unemployment Figures Confound "Recovery Summer"

President Obama's highly-touted Recovery Summer continued to unravel as the US economy "unexpectedly" suffered a net loss of 131,000 jobs in July. However, the jobless rate, calculated separately via household surveys, remained steady at 9.5 percent as the size of the workforce declined proportionately. According to the survey, a growing number of unemployed have simply abandoned hope of procuring a job.

The drop in payrolls in last month is attributed primarily to the dismissal of nearly 143,000 temporary census workers. The private sector added a paltry 71,000 jobs, hardly evidence of an economic recovery.

Also continuing a troubling pattern, the previous month's employment data was downwardly adjusted. Payrolls in June actually fell by 221,000, far more than the 125,000 decline initially reported. The US economy lost 352,000 jobs in June and July. This figure presumes the July numbers will not be adjusted likewise.

The July report also reveals that a stunning 45 percent of the 14.7 milliion unemployed Americans have been out of work for longer than 6 months. Some have speculated that the repeated extension of unemployment benefits may be contributing to this figure. As many jobless do eventually lose their benefits, they are no longer counted in the unemployment figures. For this reason, the gap between the headline rate (the official unemployment rate per ILO definition, U-3) and the total unemployment rate (U-6) remains large as total unemployment holds steady at 16.5 percent.


TrackBack

TrackBack URL for this entry:
/cgi-bin/mt-tb.cgi/39789.

Comments (22)

I think a real recovery wil... (Below threshold)
914:

I think a real recovery will begin after November.

People are being hurt by th... (Below threshold)
recovered liberal democrat:

People are being hurt by this regimes' policies and that is a very bad thing. The only silver lining to this dark cloud is that people will be so tired and disgusted with the liberals at every level of government, a liberal democrat dog catcher won't be elected.

"...as total unemployment h... (Below threshold)
LeBron Steinman:

"...as total unemployment holds steady at 16.5 percent."
Hey, you're mind isn't right per the Palace Guard Media.
It's "funemployment", dammit.

rld I agree with you. I thi... (Below threshold)
Pretzel Logic:

rld I agree with you. I think they've gotten an up close look at liberalism and realize - it sucks-

also, I heard that during the depression, government jobs were NOT counted in the published figures. Anyone know if that's true?

Not to worry, Alan. They'l... (Below threshold)
Oyster:

Not to worry, Alan. They'll do a much better job with your prostate come 2014.

If it weren't for t... (Below threshold)
irongrampa:


If it weren't for the truly undeserving, I'd laugh my ass off watching and rooting for this to escalate.

Pity there isn't some way to exempt them.

"This figure presumes the J... (Below threshold)
GarandFan:

"This figure presumes the July numbers will not be adjusted likewise."

You can count on it.

Got to give Barry and Company credit. They're consistent. Consistently down. Orzog is gone. Romer is gone. Will Summers be next?

Come on NOVEMBER!

I think a real ... (Below threshold)
I think a real recovery will begin after November.
I was just looking at that recovery from my porch. I wish it would hurry up and get here. ;-)
"I think a real recovery... (Below threshold)
P. Bunyan:

"I think a real recovery will begin after November."

Maybe November 2012, if we're really lucky.

The executive branch has been granted so much power (without oversite or accountability) in this last year and a half that even if the Republicans take one or both houses of congress this fall the only purpose they will serve is as someone for the press/administration to blame for all of Obama's destruction.

(note: I almost wrote "failures" instead of "destruction", but it's not really a failure if Obama wants it to happen. If our economy and country are destroyed Obama will consider that a success and an opportunity to "fundamentally transform" into the communist dictator he really wants to be.)

It's funny now, but less th... (Below threshold)
Eric:

It's funny now, but less than a year ago the conventional wisdom was that the Democrats would control the government for decades.

And while the jobless conti... (Below threshold)
Hank:

And while the jobless continue to suffer here in the US, "a federal agency run by a hand-picked Obama appointee has launched a $36 million program to train workers, including 3,000 specialists in IT and related functions, in South Asia."

If this is a "recovery" the... (Below threshold)
Tsar Nicholas II:

If this is a "recovery" then I'd sure as hell hate to see what the alternative would look like.

Eric - it just feels like i... (Below threshold)
Roy:

Eric - it just feels like it's been decades.

Well since a little Obamano... (Below threshold)
GarandFan:

Well since a little Obamanomics ain't working, the obvious cure is even MORE Obamanomics.

Let's up that national debt and SPEND our way to prosperity. I'm sure our Chinese masters will be good for say, another $6 TRILLION. We can even let Barney Frank roll the dice 'one more time'.

From Contentions...<p... (Below threshold)
Hank:

From Contentions...

"Here is Speaker Nancy Pelosi's reaction to the dismal new unemployment numbers:

Today's report shows our teachers, police officers, firefighters, and nurses are still feeling the worst of the Bush recession -- while Republican leaders demean them as "special interests" and try to block legislation that will grow our economy. Democrats will return next week to save or create hundreds of thousands of jobs for our teachers, nurses, firefighters and police officers -- and close loopholes that allow corporations to ship American jobs overseas. This is critical as over the last three months, state and local governments have cut more than 46,000 jobs in education."

You know, I have a generally low opinion of Republicans. But good god, the democrats are friggin insane!

"But good god, the democrat... (Below threshold)
GarandFan:

"But good god, the democrats are friggin insane!"

Nancy just lives in an alternate universe. Those "jobs" she's going to "save"; well they'll but up on the chopping block for another bail out next year, just like they were last year. Seems just about every state but New Jersey is avoiding making any heavy decisions on where to cut their budgets.

And you'll notice, those budget cuts always first hit the primary services one expects from the state. All the other 'gimme' services? Not so much.

To Nancy and other utopic d... (Below threshold)
914:

To Nancy and other utopic dreamer's like Barry, funding 46,000 NEA union education job's more then make up for the 10,000,000 million job's She and Barry have single handedly lost in 2 short years.

Why aren't there any Libera... (Below threshold)
donw:

Why aren't there any Liberal Democrats posting and touting the new job figures?
Hello! Hello! - Calling all Democrats to come to the rescue of B.O.

To paraphrase Ronald Reagan... (Below threshold)
Jim Addison:

To paraphrase Ronald Reagan in 1980:

"Recession is when your neighbor loses his job. Depression is when you lose yours.

"Recovery is when Barack Obama loses his!"

recovered liberal democrat ... (Below threshold)

recovered liberal democrat reckons the only silver lining to this dark cloud is that people will be so tired and disgusted with the liberals at every level of government, a liberal democrat dog catcher won't be elected.

Be elected to what?

Pretense to the "presidency," perhaps?

After all; from the communist traitor, Wilson, via the fascist traitor, Roosevelt, by way of the gangster, Kennedy, the corrupt war-profiteer, Johnson, the traitors Carter and Cli'ton, the second-generation traitors, Kerry and Gore, through the self-and-own-culture-loathing mobbed-up Mussolini-modeled modified-Marxist murtadd Muslim sail eared simpleton who pretends to what presently passes for a "presidency;" for a hundred years or so already, bloody dog-catchers are all the "Democrats" have offered up for election!

The recovery may begin in N... (Below threshold)
CNC:

The recovery may begin in November, but it will collapse in January when increased taxes kick in. And - I am not buying the 9.5%!

"I am not buying the 9.5... (Below threshold)
John S:

"I am not buying the 9.5%"

Don't buy it. If the government accounted for the millions that are no longer counted as part of the workforce, the unemployment rate would be 13 to 14%. If it was measured the same way it was during the Carter or Reagan administration, unemployment now would be over 20%. In a few years we will all be part-time minimum wage (or paid in cash) and the government will tell us we have full employment.




Advertisements









rightads.gif

beltwaybloggers.gif

insiderslogo.jpg

mba_blue.gif

Follow Wizbang

Follow Wizbang on FacebookFollow Wizbang on TwitterSubscribe to Wizbang feedWizbang Mobile

Contact

Send e-mail tips to us:

[email protected]

Fresh Links

Credits

Section Editor: Maggie Whitton

Editors: Jay Tea, Lorie Byrd, Kim Priestap, DJ Drummond, Michael Laprarie, Baron Von Ottomatic, Shawn Mallow, Rick, Dan Karipides, Michael Avitablile, Charlie Quidnunc, Steve Schippert

Emeritus: Paul, Mary Katherine Ham, Jim Addison, Alexander K. McClure, Cassy Fiano, Bill Jempty, John Stansbury, Rob Port

In Memorium: HughS

All original content copyright © 2003-2010 by Wizbang®, LLC. All rights reserved. Wizbang® is a registered service mark.

Powered by Movable Type Pro 4.361

Hosting by ServInt

Ratings on this site are powered by the Ajax Ratings Pro plugin for Movable Type.

Search on this site is powered by the FastSearch plugin for Movable Type.

Blogrolls on this site are powered by the MT-Blogroll.

Temporary site design is based on Cutline and Cutline for MT. Graphics by Apothegm Designs.

Author Login



Terms Of Service

DCMA Compliance Notice

Privacy Policy