10.5 Million Jobs lost

[JG55]

[h=1]As Obama Crows, Real Story Is 10.5 Mil Jobs Deficit[/h] Posted 02/03/2012 07:02 PM ET

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Jobs: Of course it's good news that 243,000 new jobs were created in January, shaving the unemployment rate to 8.3%. But thanks to massive policy errors by the White House, we're still way below where we should be.

President Obama, speaking in Arlington, Va., immediately took credit for the bullish report, crowing that "altogether, we've added 3.7 million new jobs over the last 23 months."

The president went on to say: "We can't go back to the policies that led to the recession. And we can't let Washington stand in the way of our recovery."

"Our" recovery? And "We can't go back to the policies that led to the recession"? The cause of the recession was, in fact, housing policies put in place by President Clinton and aggressively supported by Democrats in Congress, including former Sen. Barack Obama.

How soon we forget. These were the policies that led to the housing meltdown, the financial crisis and, ultimately, the deep recession we're still climbing out of.

Yet Obama's "blame Bush" theme will be the Democrats' strategy for the 2012 campaign. So get used to it.

Truth is, by now we should have created millions more jobs than we have. But Obama's $836 billion stimulus, his botched industry bailouts, his failed "green" energy policies, his regulatory siege on business, and his disastrous attacks on Wall Street and entrepreneurs have made this the worst recovery in history.

The recovery began in June 2009, just months after Obama took office and before his stimulus took effect.

According to data from the Federal Reserve Bank of Minneapolis, the economy is just 0.7% above its previous high. Usually at this point in an expansion, it's 13.5% above the last peak. In other words, thanks to Obama's policies, we're missing about $1.8 trillion in GDP — or roughly $5,760 for every man, woman and child.

Far worse for most Americans is the jobs depression that has accompanied Obamanomics. As the chart shows, we've suffered a jobs implosion greater than any since World War II.

Obama likes to blame his predecessor for this. And true enough, 4.4 million jobs disappeared during the 2007-08 panic. But after Obama took office, an additional 4.3 million jobs disappeared. So when Obama says "we've added 3.7 million new jobs," he's not giving you the full story.

We are still 5.6 million jobs below where we were at the peak in 2007. Add to that the 4.9 million new jobs that would have had to be created just to soak up new entrants into the workforce, and all told we have a jobs deficit of 10.5 million.

As for the 8.3% jobless rate, remember this: The month he entered office, Obama's advisers vowed unemployment would remain below 8% if we passed his stimulus. Congress did as he asked, and unemployment promptly surged above 10%.

The 8.3% number is a mirage. In fact, unemployment rate is declining in large part because millions of people have given up hope and left the workforce. Last month alone, they totaled 1.2 million.

Since Obama took office, 4.7 million people have stopped looking for work. Add them in, and the real unemployment rate suddenly doesn't look so good: 11%.

And when you add up the 12.7 million unemployed, the 4.7 million no longer looking for work and the 10.5 million who can't find full-time positions, that's 28 million people — for a jobless rate of 17%.

Hardly something to crow about.

[Guest NYCrulesU]

I'm glad someone else sees the truth. So tired of hearing people go on about "What recession?"...or the best one "The only unemployed are the lazy". BS.

[Guest bkelm18]

...or the best one "The only unemployed are the lazy". BS.

I see "For Hire" signs all the time. Some people are too proud to work the drive-thru or mop floors.

[Kenstaroni]

Heard about this on the radio last night, very interesting what happens to a fact or figure when a democrat opens thier mouth. They thinks we are all stupid..... We will not, cannot, and dam* sure won't be fooled by this manipulative liar behind the telepromptor again!@Even though I don't really like him...Romney gave 15-20% of his income to charity last year and paid more in taxes than Obama who donated a whopping 1% to charity...are you telling me the proclaimer for all that is redistribution of wealth only gave 1% to the poor he so valiantly says he's trying to help? Also his prayer breakfast speech can be summed up by saying give unto Cezar what is God's...read up on it and that will make sense. It was repulsive how little this man knows of Christianity and the proper role of government. He's a fake folks, an all out fake.

[DaveTN]

Neither the government nor the President has anything to do with Jobs or the unemployment rate unless they are creating some new government bureaucracy that will employ a bunch people. (TSA, Homeland Security, Drug testing welfare recipients in Florida, or whatever.)

The people decide what the unemployment rate will be, and we are doing a terrible job. The politicians on both sides just manipulate the numbers for their cause.

[TMF]

Neither the government nor the President has anything to do with Jobs or the unemployment rate unless they are creating some new government bureaucracy that will employ a bunch people. (TSA, Homeland Security, Drug testing welfare recipients in Florida, or whatever.)

The people decide what the unemployment rate will be, and we are doing a terrible job. The politicians on both sides just manipulate the numbers for their cause.

The Government can't create jobs but they sure can make policies to prevent private sector growth.

[DaveTN]

The Government can't create jobs but they sure can make policies to prevent private sector growth.

You mean like OSHA, EPA, Unemployment Insurance, Health care, labor laws, taxes?? Many of our foreign competitors don’t have any of these costs. Which would you like to do away with?

[TMF]

You mean like OSHA, EPA, Unemployment Insurance, Health care, labor laws, taxes?? Many of our foreign competitors don’t have any of these costs. Which would you like to do away with?

The list is longer than what you provided and is more complex that simply "doing away" with one or the other. Things don't have to always be done to the extreme; they could just be done smartly.

[Berettatn]

You mean like OSHA, EPA, Unemployment Insurance, Health care, labor laws, taxes?? Many of our foreign competitors don’t have any of these costs. Which would you like to do away with?

I'd like to see all those things with moderation and common sense. They are going to keep on and we are going to be the cleanest, safest third world country on earth.

[DaveTN]

I'd like to see all those things with moderation and common sense. They are going to keep on and we are going to be the cleanest, safest third world country on earth.

Exactly. But that’s my point. Remington and Springfield Armory are making 1911’s that are price competitive with RIA, but because RIA/ARMSCOR/Whoever will always be cheaper they are “better”. ; they are not near the quality. But they are made by a company that can adjust the price to keep the bottom feeder market and still make plenty of profit. The U.S. manufacturers paying a good wage can’t do that.

Smith & Wesson is taking the LEO market (and the civilian market that follows it) away from Glock. That didn’t happen before because there wasn’t an American made product that was the quality of Glock at that price point. The M&P is a better weapon at the same price point, yet many still will spend their money on a Glock or even a Croatian made XD. It doesn’t make good sense.

[kieefer]

The Tax code needs reforming along with every program the government is involved in. We probably could cut out more than half of them completely.

Free up taxation and regulation on businesses and watch things come alive. Solidify these changes for 10-20yrs and give people some certainty in the market.

Slowly cut off the government teet.

[TMF]

There is a reason business and industry from the North is moving South, and it ain't because of the warm weather.

[DaveTN]

The Tax code needs reforming along with every program the government is involved in. We probably could cut out more than half of them completely.

Free up taxation and regulation on businesses and watch things come alive. Solidify these changes for 10-20yrs and give people some certainty in the market.

Slowly cut off the government teet.

I agree. The tax base would increase because of the paychecks and spending of those new jobs created. Many states are waving taxes and giving away land to get companies to locate in their states. I don’t know what the Feds are doing.

But to have high paying skilled trades manufacturing jobs as opposed to low paying assembly jobs we need have a market to sell those higher quality products. Skilled trades and Engineering jobs that require a lot of training are vanishing in this country. Tool Makers, Die Makers, Mold Makers, real Machinists, welders, Electronics Techs, etc. are having to switch fields or become button pushers at lower wages. The skilled trade jobs are being done in the countries with lower wages and the parts manufactured are sent here for assembly.

That’s how the “global economy†works. Level out the standard of living so everyone is at the same level. Our politicians and most Americans seem to think that is a good idea. By the time “most Americans†figure out that the Politicians are unaffected and get to keep their high standard of living, but they have just sold out their jobs and their standard of living for themselves and their kids; it’s too late. If that sounds like a good idea to you; that is the way we are headed.

I don’t know if it’s too late to maintain our place at the top of the standard of living for the world or not; but we owe it to future generations to try. This ain’t rocket science, and Protectionism and Patriotism are not bad words.

[kieefer]

That’s how the “global economy” works. Level out the standard of living so everyone is at the same level. Our politicians and most Americans seem to think that is a good idea. By the time “most Americans” figure out that the Politicians are unaffected and get to keep their high standard of living, but they have just sold out their jobs and their standard of living for themselves and their kids; it’s too late. If that sounds like a good idea to you; that is the way we are headed.

I don’t know if it’s too late to maintain our place at the top of the standard of living for the world or not; but we owe it to future generations to try. This ain’t rocket science, and Protectionism and Patriotism are not bad words.

This idea of a global economy has screwed Americans and it's in large thanks to liberal politicians.

Leveling out our standard of living is directly from the communist manifesto, again driven by liberal politicians.

It boils down to our education system and the dumbing down of society, which again our government has squeezed any sense out of it all the while dumping in more dollars .

Too late? It will be if we don't get this nut out of office along with the rest of them over time.

The solution IMO is voting these communist out and exposing them at every opportunity.

[Guest 6.8 AR]

Protectionism and patriotism don't necessarily belong in the same basket, either.

When you set up a barrier just to keep a job in a certain place, and keep regulations so tight

as they are, you couldn't keep the job even with the proverbial gun to the head. Deregulation

of the employer by allowing him to make a profit without taxing and regulating it to death

will keep the job here. Our so called value set is and has been artificially too high for years

and has cost jobs in the name of labor costs and government regulation.

Dave, your government has killed most of the jobs in this country by taxing and regulating the

companies, either out of business, or to another country.

What's unpatriotic about making a profit? No profit= no job.

Our government has tinkered with the cost of money too many times, also, at our peril.

[DaveTN]

This idea of a global economy has screwed Americans and it's in large thanks to liberal politicians.

Leveling out our standard of living is directly from the communist manifesto, again driven by liberal politicians.

It boils down to our education system and the dumbing down of society, which again our government has squeezed any sense out of it all the while dumping in more dollars .

Too late? It will be if we don't get this nut out of office along with the rest of them over time.

The solution IMO is voting these communist out and exposing them at every opportunity.

We agree on the cause, but I don’t think we agree on the fix. These politicians can only do so much; the majority is up to us.

I think we are nearing a time now when our kids and Grandkids will look us in the eye and ask “How could you have allowed this to happen to us?†Giving them a speech about the “Global Economy†or how American manufacturing couldn’t produce a product at the same or lower cost will make those that try look like idiots in their eyes.

Glad I won’t have to do that. I’ll have to apologize for my generation, but long after I’m gone my family will be able to tell them to look at my actions. Of course that won’t help them any, it will just show them we had a choice.

[kieefer]

I'm hoping people have been awaken from their sleep and ignorance to what government can give and take away, this next election will determine that and that is what is up to "US".

Romoney is not the best choice but he may be the next pres. At least it's a start and a chance to cut off this ridiculous spending and the hatchet on our freedoms.

My son is self-employeed for the first time this past year, he recently did his taxes and paid in 23% on less than 50K. He told me of paying a self employment tax of an 9%, now if that's not discouraging business I don't know what is.

[DaveTN]

My son is self-employeed for the first time this past year, he recently did his taxes and paid in 23% on less than 50K. He told me of paying a self employment tax of an 9%, now if that's not discouraging business I don't know what is.

It’s Social Security and Medicare and is probably closer to 15% than 9%.

[kieefer]

It’s Social Security and Medicare and is probably closer to 15% than 9%.

Nope, he declined in paying that.

Unless you're a tax lawyer this is my understanding. My nephew actually is a tax lawyer and have yet to discuss this with him.

Point being, the tax code is a lot of our problem in many ways. I'm with M.Bachman, everybody should pay something.

[Oh Shoot]

The Government can't create jobs ...

Of course it can. Obama has added 123,000 federal jobs.

- OS

[Guest pfries]

I see "For Hire" signs all the time. Some people are too proud to work the drive-thru or mop floors.

At this point I AM proud to mopping floors for a $25,000 pay cut, can't stand unenjoyment....

I can say 2 1/2 weeks in and they are now going to trainning me to take over my own store, at which point it will only be a $10,000 to $12,000 pay cut????

But I'll take it (at least for now)

[kieefer]

At this point I AM proud to mopping floors for a $25,000 pay cut, can't stand unenjoyment....

I can say 2 1/2 weeks in and they are now going to trainning me to take over my own store, at which point it will only be a $10,000 to $12,000 pay cut????

But I'll take it (at least for now)

If more people took that kind of attitude the whole country would be in much better shape.

[JG55]

Posted on February 3, 2012 by John Hinderaker

Was Today’s Jobs News Good?

The administration trumpets the fact that nonfarm payrolls increased by 243,000 in January, dropping the unemployment rate to 8.3%, only .5% higher than when Barack Obama took office. This is what counts as good news in the beleaguered West Wing!

But how good was today’s news, really? What is mainly going on is that fewer Americans have any intention of working; therefore, they cannot be unemployed. That is the Orwellian logic that underlies “good news†in the Age of Obama. The key fact is that labor force participation has reached a 30-year low of only 63.7%. More and more Americans are giving up on gainful work and resigning themselves to lives of dependence on government. Barack Obama thinks that is a good thing. Do you?

Here is another very basic fact: notwithstanding the employment gains in January, there are fewer Americans working today than there were when George W. Bush took office in January 2001, and more than one million fewer Americans are working than when Barack Obama was inaugurated! What an appalling record! If Obama had campaigned in 2008 on the promise that, if he were elected, a million more Americans would be unable to find work, would you have voted for him? Would anyone have voted for him?

The Obama administration has been a disaster, and the reason is no mystery. Obama and his advisers do not understand how wealth and jobs are created. They have little or no experience in the private sector, they do not understand economics, and they think that parasitism is a viable strategy. So is it any wonder that when their policies are implemented, a million or more Americans are unemployed?

[Guest NYCrulesU]

It's not as simple as people don't want to work or don't want to take the menial jobs.

When you know a former Executive Administrative Assistant for one of, if not the, biggest health insurance company in the US, with a BA in Business Administration, who used to make $27/hr or $56k+ annually...and now has applied to Walmart for a cashier position twice a month for the past year and a half without so much as a call back, Shell gas station for cashier and atleast a half a dozen factories and has her resume in with exactly 9 temp agencies...and is relagated to babysitting other peoples kids for $65/week (to undercut every other baby sitter on LSN..all 60,000 of them) at an average of 5 days a week, 12 hrs a day which works out to about a $1.08 an hour.

Sample two is a friend of mine who was a Pharm. Rep. taking home more than $1000/week. He now works on a assembly line for a local factory making $7.25/hr. He worked for Phillips Lighting before that but they closed up shop and moved to Mexico....putting 375 small town residents out of work.

So please, don't tell me that there is ample work out there for everyone...when even the most qualified, college educated professionals can't find work.

It may be good for you right now...or even good for some in your specific location....but that doesn't mean it's good for everyone everywhere else.

I know, I know...easy answer is to move. Well, it's not so easy.

Edited February 4, 2012 by NYCrulesU

[DaveTN]

When you know a former Executive Administrative Assistant for one of, if not the, biggest health insurance company in the US, with a BA in Business Administration, who used to make $27/hr or $56k+ annually...and now has applied to Walmart for a cashier position twice a month for the past year and a half without so much as a call back, Shell gas station for cashier and atleast a half a dozen factories and has her resume in with exactly 9 temp agencies...and is relagated to babysitting other peoples kids for $65/week (to undercut every other baby sitter on LSN..all 60,000 of them) at an average of 5 days a week, 12 hrs a day which works out to about a $1.08 an hour.

No offense to your friend, but that’s a fancy name for a secretary. Secretaries shouldn’t be making $56K a year unless they are involved in the operation of the company. Of course they aren’t going to hire her at the Shell station, by the time they had her trained she would have found another job. If she wants to work at the Shell Station or Wal-Mart she needs to either have a resume that is targeted at that position, or not use a resume at all. Someone with a BA in business should know that….. Don’t you think?

Sample two is a friend of mine who was a Pharm. Rep. taking home more than $1000/week. He now works on a assembly line for a local factory making $7.25/hr. He worked for Phillips Lighting before that but they closed up shop and moved to Mexico....putting 375 small town residents out of work.

Pharmaceutical representative? Nashville is one of the top medical cities in the country. He should be able to find something here, but it will probably involve travel, at least locally.

I know, I know...easy answer is to move. Well, it's not so easy.

That’s true. I could double my income by moving tomorrow, but the wife says she is not leaving here. So I stay here making less than I made 15 years ago because she is happy. But hey, at least for now I have a job, that’s more than many can say.