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December 03, 2010

OBAMANOMICS: Unemployment Rate Increases to 9.8%, Only 39,000 Jobs Gained … Tax Increases Eh, President Obama?

Posted in: Barack Obama,Democrats,Economy,Jobs,Obamanation,Obamanomics,Unemployment


Just stunning!!! Can we finally call the Obama job recovery and economic plan for what it is, a complete and total fiasco? The November job numbers are in and they are a complete unmitigated disaster … 39,000 jobs in November and the unemployment rate is now up to 9.8%. So much for the experts, it was expected that unemployment would remain at 9.6% and we would gain 140,000 jobs. NOT EVEN CLOSE.

U.S. employment increased far less than expected in November and the jobless rate jumped to a seven-month high of 9.8 percent, dampening hopes for a self-sustaining economic recovery.

Nonfarm payrolls rose 39,000, with private hiring gaining only 50,000, the Labor Department said. However, overall employment for September and October was revised to show 38,000 more jobs than previously estimated.

Economists had expected payrolls to increase 140,000 last month and the unemployment rate to be unchanged at 9.6 percent.

Bureau of Labor Statistics from US Department of Labor for November 2010.

The unemployment rate edged up to 9.8 percent in November, and nonfarm payroll
employment was little changed (+39,000),
the U.S. Bureau of Labor Statistics
reported today. Temporary help services and health care continued to add jobs
over the month, while employment fell in retail trade. Employment in most major
industries changed little in November.

Among the major worker groups, the unemployment rates for adult men (10.0 per-
cent), adult women (8.4 percent), whites (8.9 percent), and Hispanics (13.2 per-
cent) edged up in November
. The jobless rate for blacks (16.0 percent) showed
little change over the month, while the rate for teenagers declined to 24.6 per-
The jobless rate for Asians was 7.6 percent, not seasonally adjusted.

Note to President Barack Hussein Obama and the clueless Democrats … YOU DO NOT INCREASE TAXES ON ANY ONE DURING A RECESSION!!! To Democrats, stop your “Chicken crap” nonsense with tax votes that are done to strictly promote class warfare, but only waste tax payer dollars and cause more angst with the American public and business. Exactly what is Obama and Democrats trying to do by continuing to play games with not improving tax cuts for all, crashing the stock market?

UPDATE I: Boehner responds to 9.8% Unemployment: Dem Leaders Should Stop Wasting Time on Tax Hike Votes.

“Any sign of job growth in this struggling economy is encouraging, but clearly no match for the uncertainty families and small businesses are facing, which is why we must cut spending and stop all the looming tax hikes. 

“Unfortunately, Democratic leaders continue to insist on wasting time with meaningless votes as they try to make it as difficult as possible to stop their job-killing tax hike.  Families and small businesses have had enough of politicians in Washington talking about creating jobs while doing everything in their power to kill more jobs.  This is exactly the kind of Washington game-playing the American people voted against on Election Day.  The lame-duck Congress should do the right thing and vote immediately to cut spending and stop all the tax hikes.  If they don’t, the new House majority will in January.

“As economists and small business owners have warned, the last thing our economy needs right now is a job-killing tax hike.  Republicans are focused on keeping our pledge to America to cut spending and permanently stop all the tax hikes.  Our economy will ultimately recover, but it will do so because of hard work and entrepreneurship, not more of the same job-killing policies and spending binges.”

So much for that job recovery that the liberal MSM wants to falsely tell the American publican. Not even the NY Times can spin 9.8% unemployment.

Are Democrats more worried about politics and posturing for the 2012 elections than caring about job creation and the American people? Its time to stop pandering to your base and care about all the people and the United States.

UPDATE II: From QandO… check out the VIDEO of a clueless Democrat who thinks that small businesses do not make decisions based on tax rates,  … “Yeah, that’s right – this yahoo is claiming that small businessmen don’t ever make any decisions based on tax considerations. So they won’t mind a tax hike in the least. ”


Looks like the Other McCain is referencing a Merry Christmas and  Ho, Ho, Ho Happy Holidays with today’s surprise economic Christmas present from Obama and the Democrats.  

UPDATE III:November’s dismal job reports dashed the expectations of economists, many of whom had predicted much more robust job growth. How could the US Senate possibly vote for any tax increases on any American with these terrible unemployment numbers?

UPDATE IV: From The Corner and the NRO, the November Unemployment Report, in a word … AWFUL!

Awful. That’s the best one can say about the November employment report. The headline — that unemployment jumped to 9.8 percent — is not really the bad news. If and when the economy does catch fire, droves of discouraged workers will flood back into the labor market and the rate will easily exceed 10 percent. So a rising unemployment rate is not really the main concern.

Democrats have been so caught up with passing their liberal agenda for the past two years that they managed to completely disregard what was supposed to be their primary goal, JOBS. Instead, it was about Obamacare, Cap & Trade, a ridiculous stimulus package, lowering the volume of commercials and telling you what your children should eat.  As stated at Outside the Beltway … It’s The Economy, Stupid!

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