Obamanomics EPIC FAIL … August 2012 Jobs Numbers: New Jobs at 96,000, Missing Expectations; Rate Hits 8.1% Because 368,000 People Left the Work Force

 

OBAMA ECONOMIC FAIL!!! SO AMERICA, ARE YOU BETTER OFF TODAY THAN YOU WERE FOUR YEARS AGO?

The August 2012 jobs numbers are out and they are disastrous for Barack Obama, but most importantly, they are even more disastrous for America. Only an anemic 96,000 jobs were created in August  and missing the expectations of 125K jobs. However, the unemployment rate shrunk to 8.1%. One might think that is a good thing and a partisan Barack Obama and his minions might just spin it as so. However, the real reason why the unemployment rate went from 8.3% to 8.1% was because 368,000 left the work force and just gave up.

The job numbers get worse:

  • The June employment numbers fell from 64,000 to 45,000
  • July’s number came in at 141,000 from an originally reported 163,000

Obama reads the bad economic numbers for August and another nail in his political Presidential reelection bid

Employment growth remained weak in August, with just 96,000 new positions created but the unemployment rate dropping to 8.1 percent, according to a report that raises the possibility of more Federal Reserve easing.

Despite hopes that job creation would be better than expected, the monthly report fell short of economist expectations that 125,000 jobs were added for the month.

A more encompassing measure of unemployment, which counts those not looking for jobs, fell to 14.7 percent from 15.0 percent in July.

But job reports for June and July were revised lower. The June count fell from 64,000 to 45,000, while July’s number came in at 141,000 from an originally reported 163,000.

As reported at Hot Air this is a 30 year low in the work force under this President. How sad, pathetic and tell of the Obama administration. Americans are just giving up. What a commentary of Obama.

Bureau of Labor:

Among the major worker groups, the unemployment rates for adult men (7.6 percent),
adult women (7.3 percent), teenagers (24.6 percent), whites (7.2 percent), blacks
(14.1 percent), and Hispanics (10.2 percent) showed little or no change in August.
The jobless rate for Asians was 5.9 percent (not seasonally adjusted), little
changed from a year earlier.

No wonder Barack Obama’s speech was so flat last night and a major disappointment. No wonder Obama did not mention anything to do with his stimulus plan, Obmacare and details of how he was going to fix the economy. Remember, Barack Obama was well aware of these economic numbers before he made his speech last night. If he had painted a rosy picture and then these numbers came out, Americans would have said a collective, WTF. More so than they are this morning.

Following this economic disaster, there will be no Obama convention ounce, if anything the bounce may be a negative and go to Romney.

Remember when Obama said he will be held accountable, if he does not have this fixed in three years, it is going to be a one term proposition? Hold him to it America.

UPDATE I: The Lonely Conservative linked, thanks!



If you liked this post, you may also like these:

  • RUT-ROH … According to Reuters/Ipsos Poll: No Sign of Convention Bounce for Barack Obama:
  • Barack Obama Opens Up 4 Point Lead Over Romney in Gallup National Poll Following DNC Convention … Will Dismal Economic Jobs Report Affect Bounce?
  • US Sen. Barrasso (R-Wyoming) Delivered the Weekly GOP Address … “President Obama is on track to have the worst jobs record of any President since World War II” … “More presidential rhetoric, and a plea for more time, won’t heal our economy.”
  • Obamanomics EPIC FAIL … GDP 2.2% for 1st Qtr
  • Obama March Unemployment Numbers Very Disappointing … Only120K Added, Expectations 205K … AlltIme High Record Number of Americans Not in Work Force




  • Comments

    17 Responses to “Obamanomics EPIC FAIL … August 2012 Jobs Numbers: New Jobs at 96,000, Missing Expectations; Rate Hits 8.1% Because 368,000 People Left the Work Force”

    1. Economy Added Far Fewer Jobs Than Expected in August | The Lonely Conservative on September 7th, 2012 7:59 am

      [...] not “moving in the right direction” as the Democrats would have you believe.Hot Air and Scared Monkeys have more on this dismal and depressing economic report.google_ad_client = [...]

    2. RUT-ROH … According to Reuters/Ipsos Poll: No Sign of Convention Bounce for Barack Obama: | Scared Monkeys on September 7th, 2012 8:00 am

      [...] I: Don’t expect any bounce after the August 2012 jobs numbers, if anything Obama may get a reverse bounce. Share [...]

    3. paula on September 7th, 2012 10:43 am

      Can’t wait to say bye bye Obama.

    4. GetObamaOut on September 7th, 2012 4:32 pm

      Obama will not be happy until he destroys the US economy. Anyone who votes for this fool should have their voting privaleges taken away.

    5. gary on September 8th, 2012 10:28 am

      I know one thing for sure, I will sleep better when he’s gone..

    6. RK on September 9th, 2012 12:36 am

      The WSJ offered an analysis (goo.gl/8W8sw) of the jobs report regarding the 368,000 who left the work force [Number of the Week: Young People Lead Labor-Force Dropouts].

      Unless the BLS data supplies reasons for leaving the work force, claiming that they “just gave up” is unfounded, showing prejudicial bias towards a political agenda/perspective.
      ______________________
      SM: RK, you had been gone for I while, I was hoping that you were doing something purposeful with your life like attending an economic class.

      None of this, of course, suggests young people were the only weak point in the jobs report. Even among prime-age workers, the labor force shrank and employment barely grew. And seasonal quirks likely don’t explain the entire drop in youth employment, either; using unadjusted data, teenage employment in August posted its smallest year-over-year gain in a year. Either way, September’s report, should answer many of the questions raised by this month’s data.

      Sorry, but you cannot spin this economy as positive.

      The workforce participation is the lowest since 1981.

      The unemployment rate would be over 11% if the unemployment numbers included the same work force participation as he had when he took office.
      R

    7. US Sen. Barrasso (R-Wyoming) Delivered the Weekly GOP Address … “President Obama is on track to have the worst jobs record of any President since World War II” … “More presidential rhetoric, and a plea for more time, won’t he on September 9th, 2012 10:15 am

      [...] Senator John Barrasso (R-Wyoming) yesterday delivered the Weekly GOP Address, following Friday’s dismal  jobs report. In the Weekly Republican Address, Barrasso said the following that, We are not better off than we [...]

    8. Barack Obama Opens Up 4 Point Lead Over Romney in Gallup National Poll Following DNC Convention … Will Dismal Economic Jobs Report Affect Bounce? | Scared Monkeys on September 9th, 2012 12:06 pm

      [...] it is reported with a rather misleading title that Obama leads despite jobs data. Sorry, but the pathetic, anemic and poor jobs report came out on Friday. That is hardly enough time to feel the effects in a poll released on Saturday. [...]

    9. RK on September 9th, 2012 1:35 pm

      #6-SM: I’m glad you appreciated my link as useful, and were able to find that quote. I’ve no clue how simply presenting a link that includes an explanation you decide to quote is “spin”, unless you’re spinning yourself(?).

      LOL – your constant attempts to knock me, who you know nothing about, is becoming farcical to me. I almost have to wonder if discussing the topic may not be as satisfying as personal attacks. If it pleases you, don’t let me stop you. I myself get a chuckle each time it appears and fails.
      ________________
      SM: Its not a person attack that you know little about economics, its a fact.

    10. RK on September 9th, 2012 3:04 pm

      #9-SM:
      I stand by this definition: “The usual test for a statement of fact is verifiability.”
      _____________________
      SM: I stand by the fact that millions have left the work force since Obama has become President. That is what this post is about. If the DOL used the same participation rate today as when BO became Prez, the unemployment rate would be over 11%.

      Labor Force participation rate under Obama: http://data.bls.gov/pdq/SurveyOutputServlet

      Men at the lowest of all time. Thanks Barack, another record to put in his “ruin America” trophy case.
      http://blogs.wsj.com/economics/2012/09/07/men-see-lowest-participation-rate-on-record/

      First a definition: The labor force participation rate is that percentage of the adult population that is employed or actively seeking employment.

      In August, this group was 63.5% of the population. That was the lowest figure since September 1981, when it also stood at 63.5%, according to the Labor Department‘s Bureau of Labor Statistics.

      For men, the August participation rate figure was 69.8%. That’s the lowest on record. The records of the Labor Department began in 1948.

      To see that this is not a new issue, albeit a worsening one, take a look at the numbers 10 years ago. In August 2002 the labor force participation rate for all adults was 66.6%, BLS data show. In August 2011, it was 64.1%. The 10-year trend is down.

      For men in August 2002 the labor participation rate was 74.1%, In August 2011 it was 70.4%. Same downward trend.

    11. RK on September 9th, 2012 5:36 pm

      That’s nice to know.

      However, it doesn’t have any relation to your actually knowing anything about me to be able to provide a meaningful assessment. IMO, it would be presumptuous or possibly even arrogant to think so.

      Sorry. :-(
      ___________________
      SM: Like a typical lib, you thinks its about you. I could care less about you. I care about America, I care about people having jobs, I care about business succeeding, I care about people who take risks and work hard actually get to keep their money rather than giving to the slackers who think everyone owes them a living.

      Your comments and little you bring to the economic conversation yell me enough that you know little about business or what it takes to grow one, save one or close one because the market does not support it. Your comments have provided me with enough, I do not have to personally know you, as I care little to.

      You are an Obama apologist, that in itself is bad for the US economy and job growth.

      NUFF SAID!
      R

    12. RK on September 9th, 2012 10:53 pm

      #11-SM: I hardly think it is about me; but you keep on interjecting comments about me in this thread.

      SM: Its not a person [sic] attack that you know little about economics, its a fact.

      me: I stand by this definition: “The usual test for a statement of fact is verifiability.”

      SM: I stand by the fact that millions have left the work force since Obama has become President. . . .

      me: (this) “doesn’t have any relation to your actually knowing anything about me to be able to provide a meaningful assessment.”

      SM: You are an Obama apologist

      Wow! I never mentioned Obama on this thread, much less make any apologies. That is, unless quoting the WSJ is the new Obama apology method.
      _______________________________
      SM: You are an Obama apologist. Name me 5 things that you think Obama has done that has been bad for America?

    13. RK on September 10th, 2012 7:18 am

      Calling me an apologist is not predicting what I might say looking forward; it is a past tense categorization. Looking back, can anyone name 5 times I mention Obama and politically support him.

      As an example; it would be impossible to find a pro-Obama explanation of my original comment (#6) above. It is strictly non-partisan.
      ____________________
      SM: Spare me the dribble. If you are so non-partisan name me 5 things Obama has done or not done that has been bad for America? Come one, can’t be that difficult if you look at things fair and balanced. If you can’t and no, not closing GITMO is not one of them.

      Let’s here it, talk is cheap. I could care less about your philosophic nonsense. Get to it, name the Obama policies you disagree with and have been bad for America?

      We are waiting, if you can’t … you would be defined as an Obama apologist.
      R

    14. RK on September 10th, 2012 8:48 am

      You can’t hide from your own words; YOU called me an Obama apologist. I’m not obliged to do your work for you.

      Either you can back up these words with supporting information, or this is merely an opinion. And that’s OK; we’re all entitled to our opinions.
      ______________________
      SM: Give me a break, why don;t you go else where and troll, I am pretty much tired of you. No one is asking you to do anyone’s job. You cannot answer the simplest of questions. Certainly if you were non-partisan you could name something that you found bad done by Obama. Seeing that you are all talk and skip around a simple question, I think it becomes obvious that you are hardly non-partisan. Enjoy the Kool-aid.

      You have been weighed, you have been measured and you have been found wanting.

    15. RK on September 10th, 2012 6:03 pm

      Perhaps you fail to grasp my meaning when I mention non-partisan above. It is directly in the context of my comment in #6 and reiterated in #13; that is the entire non-partisan nature I claim. I stand behind those words; they explain themselves.

      As to your repeated request that I answer your question; I’m just not going to do so. Period!

      Its not my job to answer your questions, or confirm your statements; no matter how many times you ask me!

      If you don’t want to explain yourself (that I’m an Obama apologist), that is fine. Don’t respond; that is fine. No one is forcing you to explain what you mean. Forget I ever suggested that anyone find evidence to show I’m partisan. I don’t care.

      Just don’t think you can call me out for not proving your assertion that I’m an apologist. I don’t care if you stand behind your words or not. That is not my call.

      Just don’t ask me to satisfy your curiosity. I’m not here to fulfill your desires.

      Is that clear enough?

      Aye ca-rumba!!!!
      ____________________________________
      SM: That’s fine, you have proved you are an Obama apologist and partisan hack.

      Thank you for confirming it.

      For future reference your comments will not be responded to. You are not worth responding to as it is a waste of time. Adios.

    16. RK on September 10th, 2012 7:12 pm

      DELETED

      Move on, or move.

      R

    17. RK on September 10th, 2012 9:45 pm

      comment DELETED …

      You will either make a comment to the post or they will be deleted. Tired of your nonsense. This is not your website nor your personal platform. We will no longer waste out time.

      You will either move on and make a comment that applies to a post or you will move on. If you continue to discuss you, then you will be banned. The choice is yours.

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