Pathetic May 2016 Jobs Report … Obama Economy Only Added 38,000 as Obama Touted the Economy is Great
WTF … 38,000 JOBS ADDED IN MAY … WAY TO GO BARACK!!!
The amazing economy that Barack Obama touted this past week in Indiana created a pathetic 38,000 jobs in May. And as the NY Post reports, it was even worse than that, if possible. 38,000 JOBS!!! This is a beyond unreal bad number as the experts predicted a modest gain of 150,000 jobs. OOPS! But do to the BS way the government calculates the unemployment rate, the unemployment rate fell to 4.7% from 5%. So for the uninformed, they think things are just grand. Even they they are unemployed and on welfare and food stamps. The fact of the matter is that the labor participation rate is at a record low, as a 94,708,000 Americans were not in the labor force in May, 664,000 more than in April. The labor force participation rate dropped two-tenths of a point to 62.6 percent.
The job market went ker-plop in May, which should send new college graduates to the beaches instead of gainful employment, and their tuition-paying parents to psychiatrists.
Let me get right to the bad news. And then I’ll give you even worse news, so you’d better pull up a beach chair.
The Labor Department reported on Friday that the nation’s economy added only 38,000 jobs in May.The experts expected a modest gain of 150,000 jobs, so the actual figure is like setting off a bomb at a gas station.
May’s gain was not only well below the consensus but much lower than the previous two months, whose figures were revised sharply downward. In total, there were actually 59,000 fewer new jobs in March and April than previously estimated.
But it gets even worse than that.
Of those 38,000 new jobs the government said were created in May, only 25,000 were in the private sector, which means that if it weren’t for the fact that governments somewhere found money to hire people, then growth would have been reduced by nearly a third.
When President Obama took office in January 2009, 80,529,000 Americans were not participating in the labor force; since then, 14,179,000 Americans have left the workforce — some of them retiring and some just quitting because they can’t find work.
“By almost every economic measure, America is better off than when I came here at the beginning of my presidency,” President Obama told the people of Elkhart, Indiana three days ago. “We cut unemployment in half, years before a lot of economists thought we would.”
The unemployment rate in May dropped to 4.7 percent, BLS reported, less than half of its Obama-era high of 10 percent in October 2009.
But the labor force participation rate has deteriorated over Obama’s two terms.
When Obama took office in January 2009, shortly before the recession ended, the labor force participation rate was 65.7 percent. The following month, it reached an Obama-era high of 65.8 percent, and then it began its seven-year downward spiral, hitting 62.4 percent in September 2015, its lowest point since 1977.
The 62.6 percent participation rate in May 2015 compares with 62.8 in April and 63.0 in March. (BLS noted that the rate has declined by 0.4 percentage point over the past two months, offsetting gains in the first quarter.)
In May, according to the Labor Department’s Bureau of Labor Statistics, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 253,174,000. Of those, 158,466,000 participated in the labor force by either holding a job or actively seeking one.
The 158,466,000 who participated in the labor force equaled 62.6 percent of the 253,174,000 civilian noninstitutional population.
I HAVE BEEN SAYING IT FOR QUITE A WHILE WITH THESE $15 MINIMUM WAGE WHINERS, DON’T ASK FOR THINGS, THEY MIGHT JUST COME TRUE …
Workers at McDonald’s and other fast food industries have been whining lately that they deserve a $15/hr minimum wage. Now it appears that if that happens, the human workers might get replaced by robots. It would seem that that at McDonald’s, a robot staffer is cheaper than a malcontent human one. I bet the robots can make change as well and have a better attitude. Who would have thought they were cheaper? Hmm, I did. For years I have been saying, the more folks whine about getting a “living wage” of $15 per hour, they more they would be replaced by machine.
A former McDonald’s CEO is warning that robots will take over jobs at the huge enterprise – because it’s cheaper than employing humans.
He said that buying highly skilled robotics is cheaper than employing people at the fast food restaurant.
The worrying forecast comes as he warns huge job losses are imminent, and that it’s ‘common sense’ to replace humans in the workplace.
This comes as a study into the future of human employment has predicted a surge in machine-led work such as robotic counsellors, body part makers and virtual lawyers.
The worrying research, by professor of management practice at London Business School, Lynda Gratton, and futurologist David A. Smith, suggests that humans will be replaced because robots are able to produce better results.
I think the exact words of warning to those complaining about wanting their pay to be doubled for doing a job that required little to no skill level was the following. By the way, minimum was meant to be a starter job, not your destination and to afford a home and children.
A note to the “Fight for 15? crowd … DON’T ASK FOR THINGS THEY MIGHT COME TRUE. If this BS is actually passed, all of you making $7.25 will most likely be fired and more competent people worthy of $15/hr will be taking your place. Or, if it were me I would automate the system and completely eliminate your position. How difficult would it be to replace order takers with kiosks both inside and outside to go? And sliding your credit or debit card into a machine to pay like at a gas station? Actually, I am surprised this has not been completely done already.
US Only Adds 126,000 Jobs in March 2015 … 245K Expected; Unemployment Rate Remains at 5.5% … Record Level of Americans Not in Labor Force
THE OTHER BARACK OBAMA LIE … THERE IS AN ECONOMIC RECOVERY IN THE US.
Economic recovery, what economic recovery? As reported at CNBC, economists expected nonfarm payrolls to rise 245,000 in March 2015 and the unemployment rate was to remain the same; however, the numbers came in much, much, much lower. In fact, only 126,000 jobs were created in March, the smallest gain since December 2013. OK, so how did only half the number of jobs come in as predicted and the unemployment rate did not go up, Hmm?
Do you really want to know who such fuzzy math can take place and a lying Obama and his minions can claim that 5.5% is a good thing when it is not? How about a record 93,175,000 Americans are not in the Labor Force!!!
The sputtering U.S. economy created just 126,000 jobs in March as bad weather, weak consumer spending and flailing corporate profits resulted in the worst report since December 2013.
Economists expected nonfarm payrolls to rise 245,000 in March, with the unemployment rate holding steady at 5.5 percent, according to Reuters. February’s numbers were revised lower to 264,000 from the initially reported 295,000, while January’s number fell from 239,000 to 201,000.
The total fell well short of the 269,000 average over the past year and was the first time in 14 months that the number dropped below 200,000.
However, the overall unemployment rate held steady at 5.5 percent, as a generational low in labor force participation helps keep the figure low. A separate gauge that includes those who have stopped looking for work as well those employed part-time for economic reasons—the underemployed—edged lower from 11 percent to 10.9 percent.
More Americans dropped out of the labor force last month, as the number of people not in the labor force hit another record high in March.
According to Friday’s Bureau of Labor Statics jobs data 93,175,000 Americans were not in the work force in March, an addition of 277,000 to February’s level of 92,898,000.
The BLS defines people not in the labor force as people ages 16 and older who are neither employed nor have they “made specific efforts to find employment sometime during the 4-week period ending with the reference week.”
The work force decline also corresponded with a drop in the labor force participation rate, wherein March’s rate of 62.7 percent matched earlier lows seen September and December 2014 but not seen before since in 1978. February’s participation rate was 62.8 percent.
OBAMA VETOES US JOBS …
Barack Obama vetoes the Keystone XL Pipeline bill. The bill was passed by a bipartisan vote in both the House and the Senate; however, Obama is driven by his far LEFT agenda and seems to care more about that than providing jobs that pay more to American workers than minimum wage. Following the shellacking that Democrats took in the 2014 elections, Obama called for cooperation and for Democrats and Republicans to work together. We all knew it was BS at the time, but it sounded good from a president who had just lost the Senate. Since then Obama has done nothing to strengthen his words of cooperation, but instead has engaged in confrontation. The veto of the Keystone XL Pipeline bill, going against the will of the people and their elected representatives, is just the latest in Obama’s actions that go along with his “imperial’ far LEFT agenda of its my way or the highway.
Obama said following his veto, “The presidential power to veto legislation is one I take seriously. But I also take seriously my responsibility to the American people.” REALLY, WHO KNEW? Exactly how is Obama taking his responsibility to the American people when the American people are in favor of the Keystone Pipeline? Critics of the bill say will cause environmental damage. Hmm, you mean like the one below in how oil is currently transported in the United States.
I guess Obama would rather have train accidents occur, like the one recently in West Virginia, that resulted in a fiery explosion. Guess what the train was carrying … that’s right, crude oil. The train, which was carrying North Dakota crude to an oil depot in Yorktown, Virginia, derailed in a small town 33 miles southeast of Charleston, causing 20 tank cars to catch fire. The environmentalist wackos seem to be rather quiet. Obama cares nothing about the people, he cares about his far left agenda.
Amid appeals for bipartisanship, President Barack Obama in just three days has provoked Republicans on issues as disparate as immigration, Wall Street and the Keystone XL pipeline — a combative mix of defense and offense that underscores Washington’s political realignment.
Sensing a Republican retreat, Obama is headlining a Miami town hall on Wednesday, enlisting his Latino base of support to increase pressure on GOP lawmakers who want to tie spending on the Homeland Security Department to repeal of his immigration executive actions.
On Tuesday, he vetoed GOP legislation that would have forced construction of the Keystone XL oil pipeline. And on Monday he proposed tougher rules on financial brokers who help manage retirement accounts, over Wall Street objections.
Gallup CEO Jim Clifton … The Official Obama 5.6% Unemployment Rate Amounts to a Big Lie … Tells CNBC He Might “Suddenly Disappear” for Telling the Truth About Unemployment Lie
Well, if Gallup CEO suddenly disappears we will know why …
Gallup CEO Jim Clifton says during an interview with CNBC that he is worried he might “suddenly disappear” and not make it home that evening if he disputed the accuracy of what the U.S. government is reporting as unemployed Americans. How sad is it that many would not put it past the Obama administration to actually retaliate against an American citizen for speaking the truth?
The CNBC interview came one day after Clifton had penned a gutsy opinion piece on Gallup’s web site, defiantly calling the government’s 5.6 percent unemployment figure “The Big Lie” in the article’s headline. His appearance on CNBC was apparently to walk back the “lie” part of the title and reframe the jobs data as just hopelessly deceptive.
Clifton stated the following on CNBC:
“I think that the number that comes out of BLS [Bureau of Labor Statistics] and the Department of Labor is very, very accurate. I need to make that very, very clear so that I don’t suddenly disappear. I need to make it home tonight.”
But after making that opening comment in case he suddenly goes missing, Jim Clifton went on to eviscerate the legitimacy of the cheerful spin given to the unemployment data by the Obama White House and liberal MSMS, stating to CNBC viewers that the percent of full time jobs in this country as a percent of the adult population “is the worst it’s been in 30 years.” Otherwise known as Obama’s Big Lie. Then again, hasn’t the entire Barack Obama presidency been one big lie and scandal after another?
Gallup CEO: 13 Million Jobs Lost – Only 3 Million Created Under Obama
Jim Clifton, Gallup CEO – The Big Lie: 5.6% Unemployment:
Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheer-leading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.
There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.