The Democrats and unemployment, summed up in one screencap.
[UPDATE] Jaw-dropper of the he-ran-in, then he-ran-out press conference itself: the President actually – and shamelessly – embraced the so-called “Bush tax cuts” that he campaigned against in 2008, and (extremely reluctantly) went along with in 2010. I really should add some commentary to this, but what can I say that this picture does not? The President’s eventual remarks on the job report will | Read More »
‘All hands on deck’ for job creation! Again.
President Obama, during yet another promise to make job creation his number one priority in life. How many times does that make now? Six? Seven? Eight? But he means it this time! “Not until everyone who wants a good job that offers a little security has one. Not until empty storefronts in town are open for business again. Not until working families feel that they’re | Read More »
No Unemployed Need Apply.
I’ll summarize this ABC article really quickly: the economy’s bad, which means that any company that’s actually hiring has a larger-than-average pool to draw from. The economy’s so bad and the pool’s getting so large, in fact, that companies are finding that they can get away with explicitly stating that they’re not interested in hiring the unemployed (as Hot Air notes, long-term unemployed individuals are | Read More »
What the BLS survey modification will and will not do.
You may have heard that the Bureau of Labor Statistics (BLS) has modified its survey of unemployment. There is probably going to be a good deal of confusion over what’s being changed, so let me summarize the situation. Official unemployment numbers are derived from the Current Population Survey (CPS), which surveys American households every month in order to gather various statistical data. The potential confusion | Read More »
Sic Transit Gloria Green Jobs.
So… Thanks to the Democrats, we spent 800 billion on a stimulus package that didn’t work. Thanks to the Democrats, we allocated 92 billion of that money (meant to be spent on, well, things that would stimulate the economy) on renewable energy policies. Thanks to the Democrats, we’ve managed to spend only about 20 billion of that money in a year and a half (remember; | Read More »
Giannoulias, Fisher go abroad to raise money from trial lawyers.
…while smoking cigarettes. Giannoulias: The Giannoulias Democratic Illinois Senate campaign confirmed Monday–after prodding from the National Republican Senatorial Campaign Committee–that Alexi Giannoulias was in Canada on Sunday attending a fund-raiser at a trial lawyer convention in Vancouver that would benefit his Senate campaign. Fisher: Democratic U.S. Senate candidate Lee Fisher was in Canada yesterday to attend a reception with a group of American trial lawyers | Read More »
Reducing OH unemployment, one jobs czar at a time.
It’s… innovative, for a given value of ‘innovative:’ creating a new job in the Ohio state government to address why the Ohio state government has not been able to create jobs, I mean. Ohio needs a jobs czar to envision ways of putting Ohioans back to work and to coordinate programs scattered across nine state agencies, a new report concludes. The report, “Help Wanted: a | Read More »
Not precisely the Quote of the Day, William Murchison edition.
More like the From Your Fingers To God’s Eyes of the Day, William Murchison edition: Every Easter/Passover ABC returns the old DeMille semi-classic, “The Ten Commandments” for renewed viewing. We all could benefit by watching the Egyptians try to build a city by flogging the Hebrews half to death. It works only up to a point: The point at which the taskmasters reduce the work | Read More »
Unemployment still at 10%. [pause] Yipe.
I was hoping for a drop down into single digits, even if it was a high one. But hope is not a plan, as the current ruling party seems determined to prove. Short version: we lost 85K jobs last month – they were expecting a gain – and the number is only holding still because a lot of people gave up looking for work. If | Read More »
Word on the Tweet: November unemployment 10.4%. [UPDATED]
UPDATE: Word on the Tweet was wrong. Went down .2% instead of up .2%. My sarcastic reaction to the folks responsible for this amazing long-term trend in the American economic situation remains unchanged. If true: wonderful. Simply wonderful. And at precisely what unemployment rate do we have to reach before the current ruling party starts to admit that they’ve been mucking up economic policy since | Read More »
‘Surely unemployment won’t reach 10% so soon!’
Jim Geraghty’s collecting examples. Keep them in mind. For myself: I’m not an economist, not a financier, and the heights of my mathematical understanding was a grad school class informally called How vendors will lie to you with statistics. but I knew back in July that we were going to hit double-digit unemployment, for a very simple and very cynical reason: because I knew that | Read More »
Department of Labor: unemployment rate 10.2%.
Tell me again why we’re not doing something about this? The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm payroll employment continued to decline (-190,000), the U.S. Bureau of Labor Statistics reported today. The largest job losses over the month were in construction, manufacturing, and retail trade. Household Survey Data In October, the number of unemployed persons increased by 558,000 to | Read More »
Annnnnd here’s the graph you’ve all been waiting for!
Also, dreading. Now, I’m just a stay-at-home dad and liberal arts major whose most elevated exposure to mathematics was a how-database-vendors-will-lie-to-you-with statistics course when I was a grad student* – still, looking at that chart it certainly appears like we’re on schedule to have double digit unemployment throughout 2010. Which is worse than the worst-case scenario that the Democrats were screaming at us as the | Read More »
Unemployment rate up to 9.8%.
Unsurprising – at least, unsurprising to me – yet not good: WASHINGTON (AP) — The unemployment rate rose to 9.8 percent in September as employers cut more jobs than expected, evidence that the longest recession since the 1930s is still inflicting widespread pain. And here’s the really cheery news: If laid-off workers who have settled for part-time work or have given up looking for new | Read More »
Obviously, we need to walk through minimum wage raises.
It goes like this: (pause) …’this’ was turning into a lecture, even with bullet points. (pause) And the lecture was a lecture, too. Dull as dishwater – which is the problem. So to hell with it:
Where are the jobs?
That’s House Minority Leader John Boehner’s response to CoS Rahm Emanuel’s rather… well, sad… statement that the White House has turned the economy around:
A probably trite observation on ‘stimulus’ jobs.
It was, nonetheless, an alarming thought to wake up to: even if you accept the concept that the ‘stimulus’ bill that Congress saddled on us is creating jobs – And that’s subject to debate: …we’re shifting any jobs generated away from useful ones, like manufacturing, and towards useless ones, like government. Have a nice morning! Moe Lane Crossposted to Moe Lane.
White House predicts 3.5% growth by year’s end.
The White House is promising solid economic growth by the end of this year: White House Sees 3.5% Growth by Year-End, Exceeding Forecasts May 11 (Bloomberg) — The Obama administration projected that the U.S. economy will expand at a 3.5 percent annual rate by year-end, a rebound that would be almost twice as strong as private forecasters expect. [snip] As early as the end of | Read More »