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Hiring Up ‘Solidly,’ Yet Jobless Rate Still 8.3%

From a walking-on-air Reuters:

Payrolls up solidly, jobless rate at 8.3 percent

By Lucia Mutikani
March 9, 2012

WASHINGTON (Reuters) – Employment grew solidly for a third straight month in February, a sign the economic recovery was broadening and in less need of further monetary stimulus from the Federal Reserve.

Isn’t it miraculous how hiring is just skyrocketing, and yet the unemployment rate stays the same?

Employers added 227,000 jobs to their payrolls last month, the Labor Department said on Friday, while the unemployment rate held at a three-year low of 8.3 percent – even as more people returned to the labor force

It marked the first time since early 2011 that payrolls have grown by more than 200,000 for three months in a row – bolstering President Barack Obama’s chances for re-election

Which is all that matters. And never mind that the unemployment rate is still 8.3%, and in reality much higher. And never mind that the unemployment rate is what it was in Obama’s first month in office.

And never mind that no President has ever been re-elected with unemployment over 7.2%. Reuters and the rest of the White House media flacks will do their best to convince us that happy days are here again. Even when the unemployment rate has not even changed.

Although the job market is gaining some muscle, the pace of improvement remains too slow to do much to absorb the 23.5 million Americans who are either out of work or underemployed

This is buried in the middle of this long article. But it should really be the headline and lead.

The jobs report, which sets the tone for financial markets worldwide, added to the list of data highlighting the U.S. economy’s underlying strength.

In another sign of firming demand in the economy, the trade deficit widened 4 percent on high oil prices and record imports, a Commerce Department report showed on Friday

Our trade deficit went up? Yippee!

The data also provided a hopeful sign for the global recovery at a time that growth is slowing in China and the euro zone appears to be sliding into recession

You didn’t know that recessions are good news? You must not be a Reuters economist


In contrast, the U.S. unemployment rate has dropped 0.8 percentage point since August, providing some relief to Obama, who faces an election battle in which the economy has been center stage.

Economists predict the jobless rate could fall below 8 percent by November, even if the recent firming in the jobs market lures Americans who have given up the search for work back into the labor force

Damn those people looking for work and thereby returning to the workforce. They are just trying to sabotage Obama’s re-election.

This article was posted by Steve on Friday, March 9th, 2012. Comments are currently closed.

5 Responses to “Hiring Up ‘Solidly,’ Yet Jobless Rate Still 8.3%”

  1. River0 says:

    Isn’t fantastic that the homeless disappear when there’s a Demonic Party president in office? The media can’t find them unless a Republican is president.

    Unemployment under George Bush was an “unacceptable” 5%, the deficit was 70% lower, but then the Demonics won Congress and took over in 2007.

    The Demonic Party and all its works are a menace to our nation, and our fellow citizens have little time to wake up.

    Polls show Democrats APPROVE of Obummer by almost 85%. Enough said.

  2. canary says:

    Job increase was hiring people to do people’s tax returns.

  3. potus4 says:

    “Economists predict the jobless rate could fall below 8 percent by November…” Come hell or high water, unemployment WILL be reported as below 8% since that is the magic threshold to get Dear Leader another term to pillage, plunder and bend the taxpayers over a little further.

    • Rusty Shackleford says:

      It is comical that that 5% UE under evilbushhitler was somehow a crime against humanity but that 8% (down from about 9.8%) under D’oh-bama is a mark of supreme leadership.

      Once again, history is only what happened in the last five minutes for a national socialist.

  4. Tater Salad says:

    While the USA continues to pull its way out of the hole, the Obama regime continues to BS the public:


    ……..and then you just might be able to undertand this: http://www.independentsentinel.com/2012/03/the-unemployment-numbers-the-unadulterated-good-and-the-bad/#comment-2140

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