Obama jobs death toll: 95,000 more gone
Grim reaper photoshop credit: Manly Rash
The latest jobs report is out — and the NYTimes can’t whitewash the truth. It’s “far worse” than expected. The unemployment rate is stuck at 9.6 percent.
The economy shed 95,000 nonfarm jobs in September, the Labor Department reported Friday, with most of the decline the result of the layoffs by local governments and of temporary decennial Census workers.
The steep drop was far worse than economists had been predicting. Most estimates were for a loss of only a few thousand jobs.
“September’s U.S. payroll report adds to the evidence that the recovery is losing what little forward momentum it had,” said Paul Ashworth, senior United States economist at Capital Economics.
The recovery that officially began in June 2009 has slowed considerably in recent months, raising concerns about the long slog the country will have to endure to dig itself out of the deepest downturn since the Great Depression. Private payrolls have been growing throughout 2009 but at a rate too sluggish to make much of a dent in unemployment. The outlook for the rest of the year is equally discouraging, economists say.
“We’re looking for companies to get more confident in the pace of recovery and start to hire around 150,000 jobs a month, which is what we need just to keep the unemployment rate flat,” said John Ryding, chief economist at RDQ Economics. “But I just don’t see that happening between now and the end of the year.”
While total government jobs fell by 159,000, private sector companies added 64,000 jobs last month. The unemployment rate, which measures the percentage of workers who are actively looking for but unable to find jobs, stayed flat at 9.6 percent.
AP grimaces:
The die is cast, and it’s grim news for the Democrats. There’s nothing now that Congress or President Barack Obama can do to before the November midterm elections to jolt the nation’s stagnant economy.
Friday’s government report — the last major economic news before the midterm elections — showed the nation continued to lose jobs last month, reinforcing the bleak reality that it probably will be years — not months — before employment returns to pre-recession levels below 6 percent.
That tightens the pressure on Democrats ahead of the Nov. 2 elections. And it also casts a dark shadow well into the 2012 election season and beyond.
BLAME BUSH in 3, 2, 1…
Democrats, who now control the White House and both chambers of Congress, are sticking with a positive line: The economy is moving too slowly for anybody’s comfort, but Obama and his congressional Democratic allies have laid the groundwork for future prosperity. They are blaming the downturn on the policies of Republican George W. Bush’s eight-year presidency.
Un-fun fact: “Unemployment has now topped 9.5 percent for 14 months in a row, the longest stretch since the Great Depression of the 1930s.”
The Job-Killing Grim Reaper reigns.
***
Update: 11:47am Eastern. Obama addressing jobs report, stresses private sector jobs added and bashes Republicans.
But via Ed Morrissey at Hot Air:
There was further bad news in the expansion of underemployed and chronically unemployed. The underemployed grew by 612,000 in September, and is now at 9.5 million people. The chronically unemployed went to 2.5 million, up 300,000 from a year ago. Among the latter group were 1.2 million discouraged workers, up over 500,000 from a year ago.
The winners in job additions were health care, food services and drinking places, employment services, and a slight bump in mining. Manufacturing stayed flat, which may be the best possible outcome, considering the setbacks to manufacturing during “Recovery Summer.” Construction lost 21,000 jobs.
Yesterday, Gallup warned that serious job losses occurred in the final two weeks of the month, and that the BLS data would likely miss it in this report. If true (ADP also saw private-sector losses), then next month’s report will look significantly worse.
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Could you imagine if Obama was a mechanic you took your car to fix a problem that arose?
He would continue to bill you for labour and parts to the tune of thousands of dollars and all the while your care would still not be fixed. When you spoke to him about his lack of successs in actaully solving your mechanical issues, his reply would be:
“Hey, it’s not my fault. The car wasn’t working before you ever brought it to me.”
And yet it’s still underreported.
Not possible. Obama came into office promising a gazillion “shovel-ready jobs” to go along with all those green jobs, the thousands of new big government jobs, plus the fantasy jobs saved. Not possible. Why aren’t these people using their Obama shovels? Unless he was just full of crap and a Marxist trying to kill jobs. Hmmmmm!
The way this bho and team lies and gives us fuzzy math on everything, I do not believe these numbers at all! They want it to not look ‘that bad’ for the Nov. election. I feel that the revised numbers for next month will be worse than these numbers.
L
This is one of the best analogies I have seen! I will be passing this on to my address list. Thanks!
Fact: All budget bills originate in the House.
Fact: Nancy Pelosi has been Speaker of the House since January, 2007. That’s almost four years, now.
Opinion: These Dems are delusional. They are treating the private sector the same way Lenny treats mice, in Of Mice and Men.
I agree with letget, there’s something fishy about these numbers and expect the actual worse numbers to come out after Nov. 2. The AP states there’s nothing the dems can do for the economy before the election. Well they could’ve extended the Bush tax cuts, so the private sector would start hiring more. The effects might not have taken place before the election, but I bet it could’ve saved a few dems their jobs.
Baghdad Nancy blames Bush for this, naturally.
Laugh line of the day:
“America’s business owners and entrepreneurs have added more jobs this year than the Bush Administration and its Republican allies did in eight years.”
Exactly what I was thinking. My only question is how long after the Nov elections will the administration, once again, send out a “revised” numbers report?
Pelosi is the gift that keeps giving on the economy (when it comes to laugh lines that is):
President Obama, How do you create a job?
“I personally believe that U.S. Americans are unable to do so because, uh, some people out there in our nation don’t have maps and, uh, I believe that our, uh, education like such as in South Africa and, uh, the Iraq, everywhere like such as, and, I believe that they should, our education over here in the U.S. should help the U.S., uh, or, uh, should help South Africa and should help the Iraq and the Asian countries, so we will be able to build up our future, for our children”.
Conservatives do not repeat this enough whenever we hear about the failed Bush policies. The economy was doing quite well until Pelosi and Reid took over congress.
…China hasn’t delivered the shovels yet?
Obama - “Our economy has seen a positive growth of jobs for the last nine months.”
You can’t make this stuff up.
Did you remember when people used to say, “What do you want to do, put the people from the ‘nuthouse’ in charge?”
Well, we have! Nothing else explains this level of dementia, unless you’re willing to factor in inexperience, naiveté, and incompetence.
The economy was in trouble. Banks throughout the world had taken on far more leverage than they should have done. In the USA that leverage was primarily used to make bad loans on personal residences. In Europe that leverage was used primarily to fund ventures in newly capitalist Eastern Europe.
It was all way too much leverage.
As the chickens came home to roost and new investors were no longer available to buy those inflated personal residences and Eastern Europe ventures the central banks of the world had to massively increase liquidity or a massive deflationary global depression would have happened.
The governments would have to ‘spend’ that liquidity.
Everyone pretty much agrees on the above. The disagreement is how that money should have been ‘spent.’
Conservatives understood the correct thing to do was to massively cut taxes across the board, and cut government so we could cut taxes even more. Lower tax rates would incentivize small businesses to take risks. That would result in more hiring, thus leading to more spending, thereby keeping the engine going.
Liberals worship at the alter of a perverted form of Keynesianism. They truly believed they could take all of that liquidity and spend it on goodies for their favored interest groups, and that would have the same effect or better on the economy as tax cuts would have had. To a liberal all that mattered was to get the liquidity into the system. ‘Greedy’ businesses would just naturally try to grab that money being spent by the groups who got it, hiring would pick up, and all would be well.
What liberals do not understand, because they are dumber than a bag of hammers, is that businesspeople aren’t idiots. They aren’t going to expand their businesses and hire permanent workers to take advantage of what everyone knows is a temporary fix that will just aggravate economic conditions in the out years.
So the Grand Experiment is being run. The second great depression is underway. This time it is less harsh because there is a ‘safety net.’
Unless the people rise up in fury and obliterate the Democrat Party over the next few elections (not just this one), the depression will go on a very, very long time.
Another old saying just occurred to me…whenever Obama speaks now, think- “time to roll up the pants legs, ’cause it’s getting deep…”
Actually the engine was running. The car had a transmission problem. After Mr. CrapWrench got a hold of it, now it won’t start.
It’s sort of like hitting yourself in the foot with a hammer because you have a headache. Once your foot feels much worse than your head, you forget all about the headache… of course you have a broken foot, now…
Acutally, it’s worse than that. It’s like you took the car in because of a bad generator, but when you come back to pick it up not only is the generator not fixed but now in also has a broken transmission, radiator leaks, and all four tires are flat.
And when you ask the repairman why that is, you get a “Hey, don’t look at me!” response.
In October of 2006 — right before the donks won control of Congress — the national unemployment rate was 4.4%. Now it’s stuck at 9.6%.
But it’s all George Bush and the eeeeevil Republicans doing, ya sure, ya betcha.
It’s very clear that Soetoro’s political allies are going to pay for this. The only suspense will come from watching to see if he learns anything and starts to steer a more center course, like Clinton. I’m not holding my breath. God save our poor country!
People, stop picking on the O-BOZOMIESTER, the “RECESSION” ended in 2009!!! Just ask any of the 9.6% of the (probably closer to 20%)unemployed…
Wait until the “Bush” tax cuts expire next year. You guessed it…the largest tax increase in history will also be Bush’s fault!
Why?
Since Bush didn’t take the necessary steps to make it permanent this proves that Bush hated the middle class!
Right?
right_on#21,
I seem to recall the only way Bush could get these tax cuts passed was to put a time line on them. I sure hope to goodness they will be extended for so many reasons.
L
Did anyone else hear something about Gov. Bobby Jindal asking Obama to lift the ban on oil drilling so people can go back to work? Supposedly, Obama told Jindal, “They can go on unemployment.” I heard this yesterday from my mom…can anyone verify that? If so, it proves once and for all we truly do have a Marie Antoinette in the White House and it ain’t Michelle Obama.
Every month it is worse than economists had been predicted. They some some rather lame economist at BEST.
As stated above Nancy has been in charge of a democrat house of representatives for almost 4 years, and all the spending bills come from the house. Blaming Bush for 2007 and 2008 crash of the economy by these (_*_) is spin intended strictly for the stupid and delusional.
***
Nothing accidental–or incompetent–going on here, folks. Every so often Comrade Obama (PBUH) and his ilk (think Maxine Waters, Van Jones, Shaila Jackson-Lee, NAACP, ACORN, et al) let the masks slip and the truth comes out.
***
President Obama is a socialist / marxist / communist. He promised to “fundamentally change” our country–for the better in his mind. Remember the Joe the Plumber moment about income “redistribution”–aka theft. Study how well these plans worked out in the nascent U.S.S.R, Zimbabwe, Venezuela, Cuba, Argentina, etc. Watch Cap and Tax and Illegal Alien Amnesty get put into place by executive fiat or negligence to enforce our laws.
***
The continuing growth of government employment and the continuing non-government job loss isn’t a bug–it’s a feature! President Obama is here to change the U.S.A. into His dream of the new United Socialist States of Amerika. And He and his buddies are right on track to doing so. Witness the GM / Chrysler takeovers, the Student Loan takeovers, the Health “Care” takeover, the Bank and Financial takeovers, the tax hikes, etc.
***
The lost employment is the “new reality” that the smart Black business lady talked about at his cherry picked press event. You have to break some eggs to make a cake–a little “collateral damage” is always acceptable to gain a cherished objective.
***
My 30 year old daughter was one of the “collateral damage” persons last week. She got notice that she will be laid off from her health care sales representative job next week. She said, “Dad–I have been steadily employed for 14 years–and finished university!”
***
Her husband is still employed at the low wage job he had when he started university. He has a Master’s degree in business and accounting–but no improved employment offers. The new reality is here at our houses now.
***
Thanks, Comrade! We will try to repay you suitably in the 2010 and 2012 elections. REMEMBER IN NOVEMBER(s)!
***
John Bibb
***
letget
True. Remember, when compromising conservative principles to reach concensus with Democrats, was called “reaching across the aisle in bi-partisan fashion?”
Republican’s never learn this lesson; You can’t compromise your principles, and values for others who have none. They seem confused when the outcome doesn’t change.
This is another reason I believe new blood is required in the GOP leadership.
Shovel-ready, indeed. I suppose shoveling sh*t out the White House door is considered a farm job.
rocketman#27,
I am so sorry about your family and I am sure many many others here have had the same from what this bho, team, and the d’s have done. We are going to do our dead level best to put a stop to this come Nov.2! Our Republic depends on putting a stop to this out of control dc bunch.
L
Because permanent tax cuts goes against the grain of CONgress….they only desire and work tirelessly for permanent tax and spending increases.
Not to worry – most of those jobs were filled by illegals anyway. They all will be going back to their home countries now.
/sarc
What is the measurement of all people out of work? It sure as hell ain’t 9.6% — that’s from cooking the books.
It’s got to be in the 15-20 percent range. Why not report on that?
Oh yeah. The elections. Can’t have too many people making the intelligent decision to not vote democrat.
Economically, the private sector is recovering but very slowly. ALL of the job loss was in government which is what is needed. The problem is that the markets are expecting QE2 and now it looks like it is coming and it will be very big. So we are in for another big cash storm that is going to wash through the economy and end up overseas again. It’s a very vicious cycle.
If you think stagflation was bad in the late 1970s, you haven’t seen anything yet. Everyone’s still talking deflation when commodity prices are soaring. The more money governments around the world print, the more inflation they are creating.
The entire world is trying to achieve prosperity by discounting their currencies. Add that to “borrowing your way out of debt” and “spending your way out of a spending problem” in your “stupid beyond belief” file.
Go back and listen to the campaign speeches made by Comrade O and friends. He’s doing exactly what he said he would do. Why would anyone be surprised that this has happened. My only surprise is that he’s destroyed so much so quickly. November 2 can’t come soon enough but can we recover what’s been
lostpurposefully destroyed?My professional level daughter has watched 7 people lose their jobs in her department at a major University in St. Louis in the past 2 months. It’s not going to get better before it gets worse.
“now control”? They’ve been in control of both houses for nearly 4 years and the presidency for 2. “Now” makes it sound like a recent development.
Or maybe they mean “now control” as in the control “for now, but not much longer”.
The socialists believe that in everything they do, damage will happen. Whether it be a full blown socialist revolutionary takeover, or just flushing freedom down the drain by a slow takeover.
If someone dies or is suffering, well, that just happens. Noam Chomsky was apologizing for the 1.5 million deaths under Pol Pot’s terror by claiming that during a socialist revolution, some people had to die. Too bad it wasn’t Noam.
Hey, its not like they “control-control”
Martyrs for the cause. I’m sure, when the socialist paradise has been acheived in the US, they’ll be honored with a stamp, medal, monument, or a beautiful, full-color propaganda poster suitable for framing, to commemorate their sacrifice.
And the dollar hit all time lows against practically any currency you can name, including China’s yuan. And the Fed is cranking the printing presses again so inflation will soar. Jimmy Carter is smiling.
Precisely. The profit motive escapes them entirely.
Meanwhile Lil Timmy is begging the Chinese to stop devaluing the Yuan, pretty please. Old Chinese proverb; He who haz the money controls the conversation. Or maybe it was me old Mom.
True. And the Republicans are about to take over Congress just in time to get blamed for it.
I would hope that if I ever used such a broad statement in an English paper back in high school that I would have been marked down.
Somehow, I don’t think this would come as much of a surprise to Thomas Sowell or Milton Friedman, and they’re both economists.
This is easy.
The economy would be fixed instantly if Obamacare was repealed, all TARP and other spending mandates of the last two years rescinded. and if the Congress and President were to resign.
Badda bing badda boom. The government has a direct causal relationship to all of our social and economic problems. Neuter the government by limiting spending to 15% of prior year GDP and you solve 80% of our crises.
Off topic, but relevant: I’ve been warning off and on about DNC planted bogus “tea party” candidates. Another one has turned up in New Jersey.
***
HI LETGET–#30. Thank you for your thoughts. My daughter is a hard working self starter who will overcome this job loss soon. And her husband says that many of the people he knows who voted for Comrade Obama in 2008 are going to vote against him and his ilk in November 2010 and 2012.
***
Nothing succeeds like success. And nothing fails like failure. EPIC ECONOMIC FAIL and no jobs seems to have a strong mind clearing and refocusing effect on unemployed people.
***
John Bibb
***
Unfortunately, Obama does not have to fool all of the people all of the time. He just has to fool a majority of the voters on election day in 2012.
The spending in late 2011 will make your head spin. By election day 2012 the lamestream will have been trumpeting the glory of the Great Savior of our economy for at least a year. Just like FDR in 1936.
Expect another great collapse in 2013, just like in 1937.
If on the off chance the economy stubbornly refuses to be in recovery by the summer of 2012, Obama can always invade Iran to stop its nuclear program.
Then, after the election, he can declare victory and get out.
He’ll have the veto pen, the bully pulpit, the slavering media and the ability to appoint judges until 2017.
It is very, very hard to beat a President with no moral scruples when you’re saddled with an idiot electorate with the attention span of goldfish.
The only real hope we have is some kind of real miracle awakening of the American voter. The Tea Party is 1/3 of the electorate? It needs to be 2/3.
Who needs jobs when Pelosi thinks that money goes further when the public receives unemployment checks and food stamps. If money grew on trees, I guess her logic would work. As for bho, he’s learning that jobs aren’t created through bullying.
It’s “the biggest bang for the buck” only if your goal is to tank the economy. Since Nancy became Speaker in Jan 2007, food stamp usage has gone up from 26.5 million Americans to over 40 million Americans. At the same time, the unemployment rate has risen from 4.6% to 9.6%. So according to Nancy’s “biggest bang” theory, the economy must really be humming by now.
In Nancy’s mind the more food stamps and unemployment, the better the economy. If you enjoy being unemployed and on food stamps, you should vote for democrats. But keep in mind, moocher, eventually you’ll run out of other people’s money, and that includes your childrens’ and grandchildrens’ money.
That’s an insult to goldfish, I’m afraid.
Once the second half of Septembers figures get added in the unemployment rate is going to be over 10%.
***
HI FLYOVERMAN–#52. The unemployment numbers are being “cooked” a lot. The current rate is bogus–some other calculation (U19?) gives rates of around 15 percent–I think.
***
And in old unrelated news–good news from the North Atlantic. The sink rate of the Titanic–which has been slowing down since impact with the iceberg–just went to zero! The bad news is that the ship is still far underwater–stuck in the mud.
***
Happy days are here again! A better measure of unemployment is HOW MANY PEOPLE ARE UNEMPLOYED? Sometimes rates need to be replaced with total values.
***
John Bibb
***
Lenny like the mice because they were soft and he enjoyed stroking them, but he kept crushing them because he didn’t know his own strength. The Dems treatment of the private sector is more like Lenny’s threatened treatment of any cats that happened to come around; by beating them with a stick.
The Dems are much like Lenny, though. When they talk about “many” or “most” they are often bolstering the numbers with the mice in their pockets. And just as Lenny lamented his lost piece of felt, the Dems long for their lost popularity.
Obama had a compliant Congress. He was part of the Democratic Controlled Senate and now has supermajorities in basically both houses. Thank you Collins and Snowe. He could pass or do anything he wanted to do. Thats why an egregious bill like Obamacare was able to pass.
He owns this economy but being the miserable little liberal he is, he can not admit to it. It has to be about blaming others, never taking personal responsibility. Every problem is always someone elses fault. Democrat policies and Obamas own ignorance in being the “smartest guy” in the room brought us to this point.
As bad as it is, I am still amazed at the number of people who still support Obama and his policies. Talk about pulling the wool over the eyes.
Isn’t it interesting that the democrats always seem to be smarter than everyone else? They claim Hillary is the “smartest woman in the world” though I’m sure that’s easy to refute; just go to the lobotomy ward at any mental hospital. All of the democrats combined have less total brain size than one single lobotomy patient.
The NYT even tried to get people to believe that John F’ing Kerry was smart. When Bush released his transcripts, Sulzberger said that he couldn’t understand how “anyone that stupid” could get elected. Kerry refused to release his military records because it was assumed they would show some discrepancy with his medals. When he finally did release them (after the election), we found out they also contained his college transcripts. And those showed he had lower grades than Bush!
With all of this, my point being, how can any socialist be considered smart? It’s a law of nature; if you’re a socialist, you don’t have the brains of an ice cube.
In 1939, after 7 years of FDRs new deal policies, the unemployment rate was at 20% and future generations had be saddled with millions of dollars of debt. Read New Deal or Raw Deal by Burton Folsom. It explains just how FDR did absolutely nothing to get us out of the depression. Talk about revisionist history! The socialists have been lying about FDRs “accomplishments” for decades.
What got us out of the depression was when congress (even some of the democrats) realized that the New Deal restrictions on business would make it very difficult to win the war. They were removed and the U.S. became a world leader that was the major player in winning the war.
FDR was president from March 1933 until April 1945; 13 years. The economy didn’t start it’s recovery until 1942-43, when FDRs socialist polices were removed. So for 10 years this country wallowed in a socialist quagmire until the socialist restrictions were removed. FDR got us out of the depression all right. By giving business the freedom it needed to win the war.
I hate to tell you this, but a majority of Economists are Keynesians at pretty much Anywhere USA, and openly mock Free-Market supporters. Their judgement is constrained by the paradigm of Keynesianism in most cases to the point of ossification. This is why they don’t understand why the Economy is the way it is.
Not if we get real conservatives to run the Congress. With contraction of the obese federal government (first steps: abolish the federal reserve and the dept of education, then cut every department’s budget and payroll by 10-15%), and withdrawal of our troops from places like Japan, Europe and Korea , where they simply are no longer needed (abandon empire!), we can cut a trillion off the federal budget in a year. Also, lower taxes, repeal Obamacare, and get the **** out of way of the private sector, and you will see sub 6% unemployment in 12-18 months after those things are done.
Real conservatives won’t abolish the federal reserve. Abolishing the fed would be the economic equivalent of unilateral disarmament.
The rest of it would be really nice. If we are going to abandon our role as the world’s keeper of the peace (something we should have done shortly after the fall of the Soviet Union, many years ago), we should give plenty of time for our allies to arm, and we should be prepared to fight violent skirmishes as the tyrants test our will to give our allies that time.
In the 70s my econ teacher, Charles Lieberman now at an “industry” think tank, was a hard core Keynesian and still is. They believed in the 50s and 60s that they were the Praetorian Guard of Economics, having it all figured out. They were the intellectual toast of all the DC cocktail parties – until Stagflation hit in the 60s and 70s.
We have to reform our schools to properly teach and inform our kids on the real truths of history and the real principles of sound economics. Fabian Socialist theory underpinned by Keynesianism is fraudulent and toxic to a healthy economy.
The curtains are being pulled away from these Wizards of Econ.
Talk about clueless.
RWR
http://www.rightwingrocker.com
With the record amount of manufacturing jobs lost in the last 10 years, it’s hard to see what people would do to make a livable wage these days.
The current administrations policies are worse than the last, yet under the last, we lost the most manufacturing jobs in our nations history. We can’t replace them with McDonald’s and K Mart.
I don’t see a bright future no matter who runs the show. We’ve depleted our nation to the point where service sector and retail are about all that remains.
We once produced over 90% of the goods we used. Now we import most of the goods we use. Even with good policies and governance I just have to wonder where we go from here.
Were in a bad position. We have fiat money, the Fed keeps printing and devaluing, no gold standard, tremendous dept, liabilities to the tune of 110 trillion we don’t have. 700+ military bases in 130+ countries, high unemployment, high inflation, it will all consume us.
For more info. go to Shadow Stats and USdebtclock.org.
This is the latest Shadow Stats Update:
No. 328 September Employment and Unemployment, Subscription required October 8th, 2010
• Outright Contraction in September Payrolls Net of Temporary Census Workers • Current Payroll Level Overstated by Roughly 550,000, Based on Announced Benchmark Revision • Broad Unemployment Rates Soar / September Unemployment Rates: U.3 at 9.6%, U.6 at 17.1%, SGS at 22.5% • M3 Annual Decline Narrows