(Put another way, More people stopped looking for work than live in New Orleans.
- promoted by Rob "EaBo Clipper" Eno)
One day after Barack Obama asked America to let him keep his job, it was announced that 368,000 other Americans have stopped looking. The latest jobs report shows that 96,000 Americans got new jobs versus the expected 141,000 that was predicted. We know from so many other articles written here on RMG, and elsewhere, that the net zero number is about 125,000 just to hold the employment numbers flat.
Although those 96,000 people are happy, there are 368,000 others that have given up. They simply fall off the government's radar.
I guess this poor jobs news begs two important questions.
1. When will the US stop accepting this poor jobs news? We are not in a recovery of any sort, and no matter how much Bubba Clinton, Barack Obama and Debbie Wasserman Schultz candy coat the figures - we are not recovering. I remember the liberals talking about George Bush's jobless recovery! If this isn't a jobless recovery I don't know what is...
2. When will the US start to use an employment standard that accurately measures the progress of creating jobs? We needed 125,000 new jobs and we got only 96,000 new jobs. Yet, the unemployment number went from 8.3 to 8.1. The Democrats and uninformed independents will see only that number and accept this poor report as promising good news.