Friday, February 17, 2012

Where have the jobs gone?

What’s new Today

Our #1 story shows a huge hole in the Obama recovery.  Unemployment is down to 8.3%, but the number of people in the workforce is down to 63.7% from 66%.  Yesterday was the third anniversary of the stimulus.  Article #2 has many of the promises made regarding the stimulus.  #3 has the CBO pronouncing that the last three years with unemployment above 8% is the worst since the depression.  #4 shows how President Obama has brought the country together.  It seems every Catholic Bishop in America has condemned Obamacare’s mandate. 

1.  Who Killed the Jobs?

This chart tells you just about everything you need to know as you prepare to vote in 2012. Prepared by the Republican Study Committee, it depicts the percentage of Americans in the labor force from January 2005 (commonly known as the “good old days” through January 2012. The decline in the number of working Americans is staggering. And note that Barack Obama became president in January 2009, about 3/4 of the way through the gray “recession,” and just before the “stimulus” that is marked with a red dot. What has happened since Obama took office is that the jobs situation has steadily deteriorated.

This is what the Republicans have to hit Obama with.  2.3% fewer Americans are in the job pool to be counted as unemployed (per the next story).  That would increase the unemployment by over 3% more than the current 8+%. 

2.  Stimulus Plus Three:  How’d we do?

Without any fanfare whatsoever from the White House, February 17 marks the three-year anniversary of the day President Obama signed the much ballyhooed stimulus into law.

At the time, Obama claimed that it would "create or save" up to 3.5 million jobs, and that "a new wave of innovation, activity and construction will be unleashed across America." The stimulus, would, he promised "ignite spending by businesses and consumers" and bring "real and lasting change for generations to come."

So three years later, how do the stimulus results stack up? Here's where various indicators stood in or around February 2009, and where they stand today.

Unemployment rate: The jobless rate is unchanged from February 2009 to January 2012, the latest month for which we have data. Both stood at 8.3%, according to the BLS. Obama's economists had initially predicted that with the stimulus, unemployment would stay below 8%.

Number of long-term unemployed: The number of workers who have been unable to find a job in 27 months or more has shot up 83%, with their ranks now at 5.5 million.

Civilian labor force: It has shrunk by 126,000. In past recoveries, the labor force climbed an average of more than 3 million over comparable time periods.

Labor force participation: The share of adults in the labor force — either looking or working — has dropped 3% — also highly unusual in a recovery. At 63.7%, labor force participation is at a low not seen since the middle of the very deep 1981-82 recession, when fewer women were in the work force. A lower participation rate makes the unemployment rate look better…

Everything says the economy is awful except the MSM who is claiming recovery reelection.  The 8.3% rate has come about in the past three months when the workers coming into the age group had only 30% join the workforce (vs 66% in 2008).     

3.  CBO: Longest Period of High Unemployment Since Great Depression

After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.

And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent….

Obama is hoping that no one inspects the unemployment numbers.  The drop in the percentage of Americans in the work force over his time in office has been enormous. 

4.Every US Bishop condemns the Obama/HHS Mandate

From Portland, Maine to San Diego, California–

From Miami, Florida to Seattle, Washington–

Every single Roman Catholic bishop in the United States has condemned in public the Obamacare HHS mandate — all 180 bishops who lead dioceses in the U.S. have spoken.

This is a simply incredible, unified, universal Catholic witness on this critical issue of religious freedom.

This is amazing.  The Catholic Church in the United States tends to be liberal.  This action by Obama seems to have cut off the support they provided in 2008 while exposing Obama for what he is. 

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