One thing I will admit, the Obama Boom™ is truly a miraculous economic recovery! For the first time ever unemployment is rapidly falling with anemic job creation. There were only 36,000 jobs created in the month of January, yet Unemployment fell to 9%. For the last 2 months a total of 83,000 jobs were created, yet our unemployment rate went from 9.8% to 9%? Normally it takes job growth of 250,000-350,000 to lower the unemployment rate. However, the Obama Boom ™ is defying all the economic rules and is truly historic!
WASHINGTON (AP) — The unemployment rate dropped sharply last month to 9 percent, the lowest level in nearly two years. But the economy generated only 36,000 net new jobs, the fewest in four months.
The January report illustrates how job growth remains the economy’s weakest spot, even as other economic indicators point to a recovery that is strengthening.
Friday’s report offered a conflicting picture on hiring. Unemployment fell because the Labor Department’s household survey determined that more than a half-million people without jobs found work. The department conducts a separate survey of businesses, which showed tepid job creation. The two surveys sometimes diverge.
[…]
The January report also includes the government’s annual revisions to the employment data, which showed that fewer jobs were created in 2010 than previously thought. All told, about 950,000 net new jobs were added last year, down from a previous estimate of 1.1 million. The economy lost about 8 million jobs in 2008 and 2009.
Read the rest: Unemployment falls to 9.0 pct., only 36K new jobs
Clearly the regime of Barack Hussein Obama is playing with the numbers to create a false illusion of an economic boom. The media is complying with him and selling us two themes. One is that things are rapidly improving and that the good times are here. The other theme is that any anemic job growth is structural and just the way things are. If a Republican was president the media would be saying that its a jobless recovery and the numbers are being fixed. With Obama, an historic economic boom has been declared! To be fair, an economy that produced only 900,000 jobs in a year but knocks down the unemployment number from 10.2% to 9% truly is historic!
One little unsaid fact about the jobs created during this historic Obama Boom™, they are low paying positions. These are not jobs one can save money to eventually invest and create wealth. The jobs are low paying entry level ones that makes it difficult to get by.
NEW YORK (CNNMoney) — There are two problems with the jobs recovery to date. Employers haven’t added enough jobs. And those they have added aren’t particularly good ones.
The former has gotten a lot of attention. But the low-wage jobs that have been added are also a cause for concern.
“Growth has been concentrated in mid-wage and lower-wage industries. By contrast, higher-wage industries showed weak growth and even net losses,” said Annette Bernhardt, policy co-director for the National Employment Law Project. She said that growth has been far more unbalanced than during previous job recoveries.
Don’t think the Obama regime doesn’t like this. They love the fact low paying jobs are being created since this makes people more dependent on government services. Big Corporations love this so they can keep wages down and employees can’t seek work elsewhere. This creates a Neo-Feudal type of economy where only a few will be able to live good and the rest struggle to get by. The longer this continues, the more Americans will accept the fact that this is how things will be. This is exactly what Obama is counting on to win in 2012. Luckily for him, his opponents are the Republicans who have no balls to propose fiscal, tax and regulatory reform. Instead, the four front runners are speaking in platitudes and talking points. He is lucky to have some incompetent opponents.
Rand Paul and Paul Ryan, who are not running for President, have proposed serious ideas to get our fiscal house in order. Instead of being praised, Rand Paul gets smeared for being an anti-Semite because he wants to cut off all foreign aid ( I didn’t know that was anti-Semitic) and Paul Ryan is dismissed by his own party. Make no mistake, the elites of the Republican Party are Progressives who like this economic situation. Another faction of the GOP could care less about America’s economic plight and are more concerned about people’s morality, who is having sex or so called family values. I’m really at a breaking point with the Republican Party since they are offering no real reform proposals to restore economic opportunity or upward mobility for Americans. Instead I hear the same talking points and see no action on their part. To paraphrase the last great President: I didn’t leave the Republican party, the Republican party left me. I no longer feel as if I fit in the modern GOP. This is not Ronald Reagan’s Economic Conservative based GOP, this is a fraudulently party that has no intentions of undoing the Progressive agenda and making America economically competitive in the 21st century. They have become de facto enablers of the Progressive Democrats and the Obama regime. I will vote GOP as lesser of evils, but I am not a supporter of that party.
We are in an economic stagnation and no one seems to care or propose to do anything about it.
Update: I told everyone it would be only a matter of time before McCain would talk of cooperating with Obama. I thought it would be March, well he didn’t wait that long He waited until the first week in February to talk about cooperation with the new Centrist Obama!
The president has become more centrist, which makes him easier to work with, Sen. John McCain (R-Ariz.) said Thursday.
Speaking with Bloomberg Television a day after a private meeting with President Obama, McCain said he could picture working with Obama on several issues going forward.
“I think there’s a number of issues we could work on together, and I think it’s pretty clear that the president has really pivoted to a much more centrist position, which I think makes it much more for us easier to work with him,” McCain said.
This is the attitude of the Republican Party. They want to cooperate with the Democrats and further the Progressive agenda and America’s economic decline. This is why I no longer support the GOP. They are useless and 2 faced. Expect to0 see the GOP talk about family values to getConservatives distracted from our economic mess. Don’t fall for it people, a Progressive with a bible is just as bad as a Secular/Atheist Progressive.
