January US jobs lost: 598,000 jobsHow is this sugar-coated? Easy - blame Bush. From the AP via The Detroit News:
February US jobs lost: 706,000 jobs
March US jobs lost: 742,000 jobs
April US jobs lost: 545,000 jobs
May US jobs lost: 345,000 jobs
June US jobs lost: 467,000 jobs
Total US jobs lost under Obama: 3,403,000 jobs
Employers cut a larger-than-expected 467,000 jobs in June, and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend, and the economy's road to recovery will be bumpy.The recession started in 2007? Huh? Since a recession starts when there are 2 consecutive quarters of negative GDP, let's see what the actual data says:The Labor Department report, released Thursday, showed that even as the recession flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on solid ground.
June's payroll reductions were deeper than the 363,000 that economists expected and average weekly earnings dropped to the lowest level in nearly a year.
However, the rise in the unemployment rate from 9.4 percent in May wasn't as sharp as the expected 9.6 percent. Still, many economists predict the jobless rate will hit 10 percent this year, and keep rising into next year, before falling back.
All told, 14.7 million people were unemployed in June.
If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.5 percent in June, the highest on records dating to 1994.
Since the recession began in December 2007, the economy has lost a net total of 6.5 million jobs.
Well, so much for that canard. The recession began in Q3 of 2008, not December 2007. It is simply a bald-faced lie by the AP and The Detroit News. Even if it were true, though, which it is not, it would still mean that the majority of jobs were lost by Obama in a fraction of the time! Let's also not forget that it was Democrat policies that basically forced affirmative action policies into bank lending that caused the mortgage meltdown last fall. Note also in the above AP piece that silver linings are littered throughout. Can you imagine such sugar-coating by the state-run AP had Bush been in office? As for the unemployment rate, here are a few telling graphics via Gateway Pundit:
Note that the blue lines are the numbers that Obama's team came up with. So the actual unemployment rate is not only worse that what would happen with porkulus, but even worse than was predicted without it. Proof in the numbers that porkulus was and is an utter failure. Of course, Obama knew this already as actual stimulus was not the point of the package as much as it was a reward to the special interests that got Obama the White House. Most of the stimulus money will be spent in 2010 - an election year. Hmmm...UPDATE: Sweetness & Light points out that the US unemployment rate now matches Europe's:
Ouch!UPDATE #2: Glenn Reynolds over at Instapundit asks: "how’s that “stimulus” working out?" Not too well I would say...




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