BLACK UNEMPLOYMENT JUMPS TO 14.4% – HISPANICS HOLD STEADY AT 11%
Is it just me, or does anyone else wonder how – if the O-man has created even half the jobs he lies brags about – the unemployment rate continues to stay at 8.2%?
The Bureau of Labor Statistics announced today that the economy created just 80,000 jobs in June – and the unemployment rate remained at 8.2%, reflecting continued slow growth in the economy. Even worse? Nearly one third of the jobs that were created were at temp agencies. Damn, O; you’re down to four months and counting, dude; better head to the links.
Economists had expected job growth of 100,000. For those of you keeping score at home, QE2 marks the worst three-month period in two years, with an average of 75,000 jobs gained per month vs. 226,000 in the first quarter.
“What a disappointing number,” said Jeff Savage, regional chief investment officer for Wells Fargo Private Bank. “This was kind of disastrous. We’re not even keeping up with demographics at this point. This is not going to be liked in the markets.”
Hopefully, it’s not going to be liked in the presidential election campaign either, Jeff. Although – with black unemployment at 14.4% (up from 13.6% in May) and the Hispanic jobless rate at 11%, one wonders how bad things would have to get for these people before they place any blame on the O-man. Don’t hold your breath.
In related news, U.S manufacturing grew in June at its slowest pace in 11 months and hiring in the sector slowed as well – as overseas demand for U.S. products waned. Yep, it’s shaping up to be an interesting run to the finish. Bring on the debates.
On another positive note, more workers went on federal disability in June than got new jobs; 85,000 of ‘em. Keep up the good work, O; maybe the “disabled” (wink, wink) can catch up with the number of Americans on food stamps.
^
Can’t wait for O’s October Surprise; it should be a humdinger this year. Maybe he’ll kill bin Laden again.
Categories: Fiscal Responsibility - or the Lack Thereof, Obama Reelection Campaign, Obama's Incompetence, Planet Obama
Tags: Bureau of Labor Statistics, Obama Economy, Obama Unemployment, Unemployment
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Can we say stagnation + inflation = stagflation (and the misery index) yet, Rat?
Good point, nee. Although, perhaps we can come up with an updated name for the index. The Rat will have to noodle on that for a bit.
Noodle on, friend. (Who ever thought I’d have a Rat for a friend.)
Ah, but a sly Rat, nee.
It’s just you.
Barack will crush Mitt and Joe will demolish Mitt’s VP as long as it is not a woman.
Walt, open a window or two and back off the Kool-Aid. Hell, Biden can’t even talk by HIMSELF without all hell breaking loose. I can’t wait to see him in the ring with Rubio or Ryan. (or ANYONE, for that matter.) It oughta be pay-per-view!
On the contrary, sir. Joe gets taken out of context and made to appear silly. In context, he does fine. Rubio and Ryan are not qualified although slightly better than Palin.
C’mon Walt! Don’t make me post a few of his greatest hits, okay? I don’t have the time to revisit the obvious.
You know – and I know – that Rubio or Ryan would carve him up like a Thanksgiving turkey.
Listen, you have a bit of “liberal credibility” with the Rat – and yes, I realize that sounds oxymoronic, but for heaven’s sake, don’t blow it on Biden of all people.
Y’all haven’t heard? No debates. No arm wrestling. Maybe basketball. Definitely golf. Winner takes all. That will not include Biden who slept through it all.
Forgot Axelrod,the caddie, keeps the score card.
Misinterpreted the picture above…thought it was the O man. Maybe the Rat Golfer…no post or comments? Smiles of course
Nope no day off for the links.
The duffer in the image is indeed the Golfer-in-Chief – playing off into the sunset in the magical world of Obamaland.
The Rat will be back later with a post or two.
Yep even I sometimes remember Mom’s advice to take care of my daily Constitutional duties. And that requires no computin’ at the time.