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Obama: Jobless Report Is Step In Right Direction

From ABC News:

Obama: Jobs Report Is ‘Step In The Right Direction’

Mary Bruce
June 6, 2012

POLAND, Ohio–Speaking at a campaign event, President Obama told supporters that this morning’s worse-than-expected jobs report marks a “step in the right direction.”

“We learned this morning that our businesses created 84,000 new jobs last month. And that, overall, means that businesses have created 4.4 million new jobs over the past 28 months, including 500,000 new manufacturing jobs,” he said to applause from the packed auditorium at Dobbins Elementary School. “That’s a step in the right direction.”

This is Obama-math, which is different from most people’s math. According to other reports, 2.6 million jobs have been created since 2009. Meanwhile, 3.1 million have gone on disability since 2009.

Before the report, economists had projected around 90,000 new jobs were created in June, so the report was a disappointment. The economy needs to create around 150,000 jobs a month just to keep up with population growth.

Which makes you wonder how the unemployment rate can stay the same when the population continues to outstrip job growth. But, of course, that is happening because so many people are being driven out of leaving the workforce.

In fact, according to Investors Business Daily, more people went on Social Security disability in June (85,000), than got jobs (84,000). And 2.6 million jobs have been created since 2009. While 3.1 million people have gone on disability since 2009.

“But we can’t be satisfied,” Obama told voters in the key swing state, “because our goal was never to just keep on working to get back to where we were back in 2007.

Which is when the Democrats took control of Congress and began to drive us into a recession.

The president made no mention of the nation’s 8.2 percent unemployment rate in his brief comments on today’s jobs report.

According to the Blaze, this marks the 32nd time that the White House has basically urged voters to ignore employment data.

Meanwhile, when he was touting his first stimulus package, Obama promised we would have 5.6% unemployment by this point. If that had happened we would have 8.5 million more people employed than there are now. Instead, the truth is half a million more people unemployed today than there were four years ago.

Indeed, in that same jobs report the Department of Labor reported that the broadest measure of underemployment rose to 15.9% in June. The "broadest measure," the U6, is the unemployment measure that was used during the era of the Great Depression. And the highest the unemployment rate ever got then was 25%. But we are going in the "right direction."

Still, the scary thing is, to Obama’s way of thinking that might actually be true.

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

2 Responses to “Obama: Jobless Report Is Step In Right Direction”

  1. GetBackJack says:

    Right direction?

    You mean, downhill? Into a hole?

    Somebody get that (can’t type it) some anti-pyschotics ….

  2. Petronius says:

    In a few more months we will find out how gullible and ill-informed the American idiocracy really is.

    And the people of Ohio will lead the way.

    It should be interesting.

    My money is on the idiots.

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