July 6, 2012

Jobs report for June blows chunks..

Play time in the vomitorium. Today's BLS jobs numbers came in like the previous two this quarter: a huge sack of crap-doodle. The three-month average of added jobs was 75,000 making it the worst hiring quarter in two years and, put together, less than the 243,000 created in January. Also, there were some warts among the patches of acne as well (below courtesy of Ed Morrissey over at Hot Air and other sources):
  • One-third of the hiring came as a result of temporary jobs
  • More people went on government disability than were given a job (85,000 v. 80,000)
  • The unemployment rate remained at 8.2%
  • The unemployment and underemployment rate surged to 14.9%
  • Unemployment among blacks rose to 14.4%
  • Unemployment among Hispanics at 11%
  • Civilian labor force participation rate remains low at 63.8%
And our Beloved Leader is roaring around the country in his Canadian-made buses, Betting on America (yet another slogan) and campaigning on these numbers, characterizing them as a "step in the right direction". Here is this fool's actual statement on this subject -- sans even the remotest acknowledgement that the job market's tanked since January:


Can anyone -- not on life-support in an ICU -- be any more clueless than this clown and the 350 mirror-fogging mouth-breathers that slurp up such brazenly huckstered snake-oil applause lines like his?

Romney sums up the problem nicely in a quasi-debate response:


..so, while you contemplate all of this, go back and reconsider that little morsel offered up above.
More workers joined the federal government’s disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation’s jobs picture is after three full years of economic recovery.

The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration.

As Investors Business Daily further notes, that isn’t the exception in the Obama recovery, but the rule:

The disability ranks have outpaced job growth throughout President Obama’s economic recovery. While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits.

..all in all, no bread and a huge bite of Obama's latest served up crap-sandwich.

-30-

2 comments:

Woodsterman (Odie) said...

If Washington broke it, why do we look to Washington to fix it ... Get out of the way!

porcorosso said...

"El Presidente Downgrade", muchas gracias para el risiablondo