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Reply #58


Response to SomeGuyInEagan (Reply #54)

Sun Jul 8, 2012, 12:49 AM

58. We are barely treading water, and way below the numbers in January 2009.

Remember "Recovery Summer"?

That was proclaimed in 2010. Millions of jobless are still waiting.

If the labor force was the same size as when Obama took office—65.7% then vs. 63.8% today—the current U-3 unemployment rate would be 10.9%. Do you understand what those numbers mean? They've been artificially adjusted due to an assumption by statisticians that if you haven't been working for a long time, you're no longer interested in working. You buy that?

The U-6 unemployment rate, which includes “all persons marginally attached to the labor force, plus total employed part time for economic reasons,” is 14.9%, which is up from May. That's the real unemployment rate. 1 in 6 who could be working are not.

I don't play the blame game. I look at the numbers. We are all to blame, for obvious reasons. Obama didn't create this mess, and he cannot fix it.

We are currently in the longest streak - 41 months - of unemployment of 8% or higher since the Great Depression. In 2009, Obama's economic team, in an effort to get the stimulus bill passed, predicted "with high confidence" that after the stimulus plan, the unemployment rate would be around 5.6% today. The pugs are going to go to town on that.

The following is from a ZeroHedge article. These are the numbers you want to consider. If you aren't familiar with that site, I suggest you fix that soon.

* Total Nonfarm Payrolls have decreased by -1.3 million from December 2008 (134,379K) to June 2012 (133,088); Source: St. Louis Fed

* Full-time jobs based on the Household Survey, have decreased by 2.5 million from 117,039K to 114,573K; Source: Table A.9, BLS

* Part-time jobs based on the Household Survey, have increased by 1.6 million from 26,3187 to 27,894K; Source: Table A.9, BLS

* Foodstamps recipients have increased by 14.6 million from 31.567 million to 46,187 (as of April 2012); Source: USDA

* Disability recipients have increased by 1.3 million from 7.427 million to 8.733 million; Source: Social Security Administration

Full article: http://www.zerohedge.com/news/economic-quality-scorecard-obama-administration

Look at this graph.



Look at each trendline in that graph. Millions fewer jobs since 2009, and millions more people since 2009, fighting for what's out there. 15 million new foodstamp recipients since 2009, while U-3 has risen to 15%. I don't see a light at the end of the tunnel. In my opinion, it's not helping the Democratic Party's electoral prospects pretending otherwise.

As for your assertion that "it's far better than '00 to '10", do you know what the unemployment rate was in each of those years?

2000 4.0
2001 4.7
2002 5.8
2003 6.0
2004 5.5
2005 5.1
2006 4.6
2007 4.6
2008 5.8
2009 9.3
2010 9.6

Source: BLS

I suggest not calling too much attention to those numbers.

We are going to have a real political Battle Royale this fall. The voters want to elect people they can trust. Everyone can see how shitty the job market is, how beat up real-estate is, how many dead zones there are in commercial districts, and how many government entities are in debt to their eyeballs and barely able to pay bills.

When political messages conflict with their own lyin' eyes, voters are going to believe what their own lyin' eyes tell them, and not what the flim-flam men tell them.

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mahatmakanejeeves Jul 2012 OP
Inuca Jul 2012 #1
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SoFlaJet Jul 2012 #13
stockholmer Jul 2012 #35
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Firebrand Gary Jul 2012 #5
stockholmer Jul 2012 #11
amandabeech Jul 2012 #33
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SunSeeker Jul 2012 #52
Kingofalldems Jul 2012 #53
SomeGuyInEagan Jul 2012 #28
Psephos Jul 2012 #46
SomeGuyInEagan Jul 2012 #54
LineLineLineLineNew Reply We are barely treading water, and way below the numbers in January 2009.
Psephos Jul 2012 #58
SomeGuyInEagan Jul 2012 #60
Psephos Jul 2012 #61
SomeGuyInEagan Jul 2012 #62
emilyg Jul 2012 #37
high density Jul 2012 #50
Cronkite Jul 2012 #55
4th law of robotics Jul 2012 #57
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