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February 01, 2013

January 2013 Unemployment Rate Increases to 7.9% … Welcome to the Continued Obama Jobless Recovery

Posted in: Barack Obama,class warfare,Economy,Epic Fail,Jobs,Labor Force,Obamanation,Obamanomics,Socialist in Chief,Unemployment


2013 starts off with the same pathetic, ho-hum economic jobs data as 2012 ended. The economy adds another yawn 157,000 jobs in January as the unemployment rate ticks up to 7.9%. Get used to it America, you are the ones who reelected Barack Obama and his failed economic policies. Did you expect things to change with regards to jobs when you reelected that same failed policies and agenda? Welcome to the jobless Obama recovery. How can anyone expect job growth to change when we have a president who believes in increasing taxes and over-regulating business? So is Obama and his minions going to still blame George W. Bush? No, they will blame House Republicans for the next four years. They will find blame with anyone, except Barack Obama.

Obama is laughing at you America for reelecting him

The new year started off with an old story: Employment grew again in January but not at a pace able to lower the jobless rate.

Nonfarm payrolls rose 157,000 for the first month of 2013 while the unemployment rate edged higher to 7.9 percent, news unlikely to alter the Federal Reserve’s monetary policy or instill confidence that the recovery is gaining steam.

Economists were looking for 160,000 net new jobs created with the unemployment rate holding steady at 7.8 percent.

The ho-hum jobs numbers for January were accompanied by substantial revisions higher for previous months, according to the report from the Bureau of Labor Statistics.

From the Department of Labor:

The number of unemployed persons, at 12.3 million, was little changed in January. The
unemployment rate was 7.9 percent and has been at or near that level since September 2012.
(See table A-1.) (See the note and tables B and C for information about annual population
adjustments to the household survey estimates.)

Among the major worker groups, the unemployment rates for adult men (7.3 percent), adult
women (7.3 percent), teenagers (23.4 percent), whites (7.0 percent), blacks (13.8 percent),
and Hispanics (9.7 percent) showed little or no change in January. The jobless rate for
Asians was 6.5 percent (not seasonally adjusted), little changed from a year earlier.
(See tables A-1, A-2, and A-3.)

Just yesterday the Labor Department stated that the weekly initial claims for state unemployment benefits increased 38,000 to 368,000. Of course this was coupled with Obama ending his failed Jobs Council that met four times in two years. Just curious, do the members of this joke of a Council considered lost jobs? Obama’s minions actually have the nerve to tout this group as a success because the unemployment rate has come down in the past two years. Of course this fails to address the issue that millions of Americans have simply left the work force.

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