US Unempoyment Rate Drops to 7.6% in March 2013 with a Pathetic 88,0000 Jobs Created … Labor Force Participation to 63.3%, a New 34 Year Low

BARACK OBAMA, EPIC FAILURE … PATHETIC, JUST PATHETIC … Obama’s abysmal Job growth failure.

The US Unemployment rate for March 2013 fell to 7.6%; however, this was done with an anemic 88,000 jobs created. The jobs report fell far short, not a little or just missed as economist expectations of 200,000 new jobs. As reported at Zero Hedge, the unemployment rate declined to 7.6%, but this was due entirely to the collapse in the labor force participation rate, which declined by 20 bps to 63.3%, a new 30 year low.  In March labor force de-participation soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. At this rate Obama will have the unemployment rate down to 2% as everyone will have left the workforce and because of the BS fuzzy math they use to calculate the numbers.

Even Obama is going to have a tough time spinning these numbers, but with no GWB to blame, he will find someone

Job creation slowed to a crawl during March, with the U.S. economy creating just 88,0000 positions though the unemployment rate fell to 7.6 percent.

The number was a sharp slide from February’s upwardly revised 268,000.

The Labor Department reported Friday that nonfarm payroll growth eased amid hopes that the economy had begun to achieve the escape velocity needed for sustained growth.

Friday’s report fell short of economist expectations of 200,000 new jobs, though it did confirm some of the weakness in recent reports.

THE EMPLOYMENT SITUATION — MARCH 2013

Nonfarm payroll employment edged up in March (+88,000), and the unemployment rate was little changed at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services and in health care but declined in retail trade.

Household Survey Data

Both the number of unemployed persons, at 11.7 million, and the unemployment rate, at 7.6 percent, were little changed in March. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (6.9 percent), adult women (7.0 percent), teenagers (24.2 percent), whites (6.7 percent), blacks (13.3 percent), and Hispanics (9.2 percent) showed little or no change in March. The jobless rate for Asians was 5.0 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

In March, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.6 million. These individuals accounted for 39.6 percent of the unemployed. (See table A-12.)

The civilian labor force declined by 496,000 over the month, and the labor force participation rate decreased by 0.2 percentage point to 63.3 percent. The employment- population ratio, at 58.5 percent, changed little. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) fell by 350,000 over the month to 7.6 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

From USA Today, Dow set to open 150 points lower on weak jobs report.

Futures for the Dow Jones industrial average were down 1% while futures for the Standard & Poor’s 500 index and the Nasdaq 100 composite index were about 0.8% lower after the Labor Department’s monthly employment report was released at 8:30 a.m. ET. The number of jobs created in March was less than half the consensus estimate on Wall Street.

BET Founder Bob Johnson Says “This Country Would Never Tolerate White Unemployment at 14 or 15 Percent” … Blacks Growing Restless With Obama’s Failed Policies

BARACK OBAMA HAS BEEN AN EPIC FAILURE FOR THE BLACK COMMUNITY … BLACK AMERICA, HOW’S THAT HOPEY-CHANGEY STUFF WORKING OUT FOR YOU?

Blacks should wonder why with the first black president, blacks are even more worse off than before … Can they handle the truth? Have they just figured out that Barack Obama has been an complete an epic failure as president? Obama has promised job growth and none nothing but make matters worse, increase the federal debt and increase costs.

As reported by CNS News, Black Entertainment Television (BET) founder Bob Johnson said earlier this week .at the National Press Club that the United States would “never tolerate white unemployment at 14 or 15%”. He went on to say that the  unemployment for the black community has been double that of white Americans for over 50 years. Obviously Obama has no issue with the high black unemployment rate as he has made matters worse during his regime. Its also many black leaders are finally making their voices heard after 4 years of silence during Obama’s first term. As per Town Hall, political leaders from the Congressional Black Caucus to the NAACP have begun to open fire on the White House.  To be perfectly honest, I am not sure why anyone would tolerate the present national average of unemployment, no matter what one’s skin color is. Obama’s economic policies have been a disaster for all people of any color.

This country would never tolerate white unemployment at 14 and 15 percent. No one would ever stay in office at 14 or 15 percent unemployment in this nation, but we’ve had that double unemployment for over 50 years,” Johnson said while speaking at the National Press Club about the gap between whites and blacks in America.

“The national average is 7.7 percent, and African-American unemployment is 13.8 percent. To be honest, it’s probably greater than that when you count the number of African-Americans who have simply given up on finding employment,” said Johnson, who is also founder and chairman of The RLJ Companies.

However, does Bob Johnson want the truth to his questions, or just more excuses that have been the cause that have kept black unemployment percentages high?

Under President Barack Obama, unemployment for blacks has been abysmal. Males, females and teens have all seen their unemployment numbers skyrocket under Obama. But I thought he cared about them? How does a segment of the population support a president with 95% of the vote and still get nothing in return. And by getting something I do not mean for food stamps, unemployment and Obama phones.

As reported at Vibe, Dr. Benjamin Carson criticizes President Obama on Black unemployment, “If President Obama wants to be a hero in the African-American community, he should do something to alleviate the “abominable” Black unemployment rate in America”.

“I think the best thing that he (President Obama) can possibly do that will help minorities is to enact policies that allow for growth of the economy,” said Carson. “Because when you look at the employment rate for instance in the African American community, it’s abominable. And the policies that have been enacted have only made it worse. They have not made it better. So if he really wanted to be a hero in that community, let’s start doing some things that make sense economically and get the money flowing.”

Black Leaders Open Fire on Obama Over Unemployment.

Barack Obama’s failed job policies are facing bitter criticism from African-American leaders who say black unemployment has grown worse under his presidency.

After four years of holding their tongues and remaining quiet in the face of sharply rising black unemployment and record poverty, political leaders from the Congressional Black Caucus to the NAACP have begun to open fire on the White House.

Black, Female Unemployment Higher Than When Obama Took Office.

Unemployment for both women and African-Americans is higher today than it was when President Barack Obama first took office in 2009, according to federal government data.

Despite an economy that has technically been in recovery since June of 2009, many economic indicators are the same or worse than when President Obama gave his first address to a Joint Session of Congress in February 2009.

“We will rebuild, we will recover, and the United States of America will emerge stronger than before,” Obama said in that speech.

However, employment for African-Americans and women has not recovered and, in fact, is worse today than it was when Obama said those words.

MAKING PEOPLE DEPENDENT UPON GOVERNMENT TO GET THEIR VOTE WILL NEVER FIX THE PROBLEM.

What Sequestration … BP Joe Biden to Take Third Vacation of the Year

Joe Biden to take third vacation of the year … More shared sacrifice from the 1% Obama Administration.

As millions of Americans struggle to maintain a roof over their heads, struggle to have a job, struggle with the increased costs of gas, the 2% payroll tax, and increase in insurance premiums thanks to Obamacare, and as a record number of Americans are on food stamps … Joe Biden thinks it is perfectly ok to take a third vacation of 2013.  Obama, Biden and Democrats talk about the cut backs, furloughs and the pain that will be caused to the American people, but that is only for you. Obama and Biden will not be affected at all. Welcome to the 1% Presidency.

Biden to America … I have 5 more vacations planned in the next couple months … you people were foolish enough to reelect us 

Vice President Biden today is enjoying his third vacation of the year, a five day sojourn on South Carolina’s luxurious Kiawah Island, where he will no doubt partake of his favorite pastime, golf.

Biden and his wife Jill arrived on the island – known as a golf mecca – Thursday night and are not scheduled to depart before Monday.

Biden’s trip is the latest episode in a bout of rampant vacationing by the First and Second Families, who have been roaring out of Washington this year on taxpayer-funded excursions even as the deficit mounts and the sequester axes jobs and critical spending on other priorities.

This administration is simply despicable. One would think that they would lead by example. Not these clowns.

The Waters who Cried 170 Million Wolves … Rep. Maxine Waters (D-CA) Claims, “Over 170 Million Jobs Could Be Lost” Due To Sequestration

The Democrat sequestration insanity continues …

It’s the end of times America, welcome to the exaggeration of Obama and Democrats with sequestration. Forget the Mayan end of the world predictions, we have the ridiculous comments of California Democrat US Rep. Maxine Waters. She stated in the latest Democrat “Chicken Little”, the sky is falling that sequester cuts mean “over 170 million jobs could be lost.” Maybe Rep. Waters should have had Dr. Evil deliver the statement?

Representative Waters, if you are going to cry wolf, at least get your numbers right so you don’t look like a complete, lying fool, only a complete fool. But as the Ace of Spades says, “Math iz hard.”

Yesterday we did have Mr. Bernanke in our committee and he came to tell us what he’s doing with quantitative easing and that is trying to stimulate the economy with the bond purchases that he’s been doing because he’s trying to keep the interest rates low and jobs – and he said that if sequestration takes place, that’s going to be a great setback. We don’t need to be having something like sequestration that’s going to cause these jobs losses, over 170 million jobs that could be lost.

170 MILLION? What an idiot.  As stated over at Michelle Malkin.com, “There are around 150 million people employed in the United States at the moment. According to Rep. Maxine Waters, the sequester will have such a devastating impact that all of those people will lose their jobs, and 20 million of them will lose their jobs twice.” Or maybe she is counting 20 million illegals working in the US? But one has to wonder why Democrats like Maxine Waters are so worried about all these jobs lost, isn’t it Democrats and her fellow US Rep. from California Nancy Pelosi who think that unemployment is a boost to the economy?

Great reaction at Twitchy; however, my favorite was … Sequester will effect people in all 57 states.

WOW, From You Obama Administration … Joe Biden Says American’s No Longer Worried About the Economy

UNBELIEVABLE, GET READY FOR 4 MORE YEARS OF ECONOMIC PAIN AMERICA AND YOU VOTED FOR IT …

Don’t worry Obamanomics has saved the US economy, NOT!!! America, the following is not a Joe Biden gaffe. It is what the Obama administration and Democrats actually believe. They think that you are no longer worried about the economy and this way it will enable Obama to move on to guns and immigration as Americans continue to be unemployed. Yesterday at the White House, the economist Joe Biden told reporters, Americans no longer worried about the economy.

“They are no longer worried, I think, about our economy being overwhelmed either by Europe writ large, the EU, or China somehow swallowing up every bit of innovation that exists in the world. They are no longer, I think, worried about our economy being overwhelmed beyond our shores.”

 What say you America, are you concerned about the economy, lack of job growth, record number of Americans on food stamps and a standard of living that continues to go down? Just curious, what has changed? It certainly cannot be President Barack Obama’s economic record of job growth as Obama wins the “Gold For Worst Economic Recovery Ever”.