RSSThe Obama Job Recovery: April 2011 Unemployment Rate Rises to 9.0%
9.0%!!!
The unemployment rate for April 2011 rose .02% up to 9.0%. Although 244,000 jobs were created last month the unemployment rate still rose showing just how many people are really out of work. President Barack Obama got a modest bounce from the capture and death of Osama Bin Laden; however, lets see how long lived that is when 9.0% unemployment numbers face the American people.
Employment increased more than expected in April as private companies created jobs at the fastest pace in five years, pointing to underlying strength in the economy, even though the jobless rate rose to 9.0 percent.
Nonfarm payrolls rose 244,000 last month, the most in 11 months, the Labor Department said on Friday. The private sector accounted for all of the job gains last month, with payrolls rising 268,000, the largest rise since February 2006.
How convoluted and misleading is the unemployment number? Months ago when few jobs were created, the overall unemployment rate went down as many had just given up looking for a job. Now, as stated above, employment increased more than expected but yet the overall unemployment rate rose to 9.0%. The fact of the matter is that there are so many people out of work, discouraged and underemployed that the unemployment number is skewed. Add the 99′s to the mix and the actual number of people who are unemployed will be a burden and drag on Obama in his bid for reelection.
Gallup has unemployment at 9.4% and underemployment at 19.3% which is probably a better indicator as to what the real unemployment numbers are in the United States.
Hmm, let’s remember this VP Biden quote for the future, the US. economy would create 100,000 to 200,000 jobs next month, with a rise to 250,000 to 500,000 jobs per month soon afterward.
UPDATE I: 63,000 of the above jobs came from mass McDonald’s job hire. The point made here is that is not a hiring trend, that is a massive one time hiringpalooza. So lets not get too giddy about more jobs than predicted. Some of these jobs are one time hiring much like how the “cash for clunker’s program affected car sales.
Posted May 6, 2011 by Scared Monkeys Economy, Jobs, Obamanation, Obamanomics, Unemployment | 14 comments |
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14 Responses to “The Obama Job Recovery: April 2011 Unemployment Rate Rises to 9.0%”
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You should just forward your website to the drudgereport since you basically take his headlines everyday.
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SM: A$$bite, you do realize that Drudge takes headlines from places that others look on their own, right? Drudge is a news aggregator that pulls top stories. I wonder what you had to say when Drudge linked to SM as a news story. Must have missed where Drudge used CNBC data. Also, you do realize that we use google searches for key words in stories, right?
How would you know any of this, you do not right a blog, you only whine like a biotch.
But being an idiot like you are, how would you know this. One more comment like this and you will be banned so you will not have to worry about reading here. Now crawl back under your rock.
McDonald’s hired 62,000 last month per Drudge. Pretty sad if you ask me.
(EDIT)
IP BANNED
underemployment at 19.3%
…..
Though it is good that these people have a job, this is more concerning (to me) than the unemployment number; means the jobs that are being created support a lower standard of living than before, which signals an overall trend that isn’t positive any way you look at it.
The unemployment number is always skewed lower by those who have given up and higher by those pretending to look in order to keep receiving benefits; but the underemployement numbers show people who are obviously trying their best but not able to reach their proven-potential.
[...] victory lap, this time at Fort Campbell in KY, don’t look now to your poll numbers as unemployment rose to 9.0% and gas prices still [...]
McDonalds makes a one time big hire at minimum wages.Most of those jobs will not be kept. McDonalds will keep the best and let the rest go after 30 days. So much for all the hype from the department of labor.
Your figure of 19.3% for real unemployment is probably a little low.
Nine (9)%! Do we know what that 9% is of??? Is it a percentage
of those who could and or/are working? Is something else?
Creative posting of percentages not related to an accepted
standard benchmark mean absolutely nothing more than
perhaps the real unemployment rate might be 25% or more.
Not a clear and open representation of the failure of Barry’s
effort to create or save. He is 100% successful at failure IMHO.
#4- Flippy- Great Post.
#3,
Thank you SM, that kind of crap did not add anything to the conversation. If I want to read that I can jump over to MSN(BC).
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SM: Clowns that want to make comments like that have no idea what it really takes to write on current stories and cover multiple events at the same time. News stories are received from many places including individuals emailing them in with links. We have news aggregators as well that present stories of interest us.
In any event, we allow people to make comments on posts, not what we do or do not write on.
R
#7, I couldn’t agree with you more and I have been preaching that to everybody I know and who will listen.
It looks like there’s a lot of seasonal hiring over the last three months (2.1 million), but no more than last year. It remains to be seen whether the hiring will stick. You can look up the actual unadjusted numbers on the government web site.
http://www.bls.gov/webapps/legacy/cpsatab1.htm
[...] Barack, 28% of home owners are now underwater. Elevated gas prices, increased food prices, an unemployment rate up to 9.0%, an anemic 1.8% GDP in the first quarter and now home prices fall. Obama’s handling of the US [...]
LOL at #11′s post…yeah..I’m sure the government didn’t skew the numbers to make them look good.
Good Grief…another SHEEPLE!
if the unemployment rate has dropped in pa. it is possibly because so many have exausted benefits. a numbers game?