Friday, July 2, 2010

Workers No Longer Seeking Jobs at 625,000

Going into the Independence Day holiday, it is apparent we desperately need independence form Democrats, Liberals and Progressives.

Barack Obama

On June 29th Obama said "the economy is strengthening" and "we are into recovery...." Neither is true. "We worked exceptionally hard to restore growth..." which brought about no growth. Today we read that the jobless rate fell to 9.5% but it didn't really. In addition to the 125,00 jobs lost in June, 625,000 gave up and are no longer seeking work. Census workers completed their "assignments" to document every illegal they could find, and 225,000 census takers, that cost the US taxpayer a tidy sum, are now unemployed.

Here's a stat that will astound you. The Flint Journal reports that in one Michigan country, those not returning their census forms cost country tax forms "about $2.4 million" for census workers to track you down - or $57 per person in the county.

Even though the loss of census jobs were expected, new jobs in private sector were lower than expected.
In fact, the percentage of overall working-age population that is in the labor force fell last month to 64.7% --near a 25-year-low
At the Toronto G-20, Obama said we have pulled back from the brink, stood his ground and called for more spending around the world. Country after country gave him the bird - said been there, done that with you, and we're over it.

To drawout Obama's own version of a pleasant pipedream, he says the economy is "strengthening" despite the weak data.  " The weak data showed a 2.7% growth, less than expected growth for the first quarter.

From Forbes on Obama's speech today from Andrews AFB:
Obama: We are headed in the right direction
To that end, Obama announced the latest burst of taxpayer-financed stimulus spending, a nationwide project to expand broadband access in places with little or no reliable internet service. 
Before Obama spoke today, the market was up slightly. The minute he stopped talking, it lost its gains, as it does every time this man speaks. At this time, the DOW is still down.

Today the Wall Street Journal announced Consumer bankruptcy filings are at the highest level since 2005.

©2007-2012copyrightMaggie M. Thornton