The numbers behind the number
Nice piece. I damn near copied and pasted all of it. The song remains the same, Big Brother gets bigger at the expense of everyone and everything else. Sickening.
"White House apologists were quick to point to the unemployment rate
decline from 10 percent to 9.7 percent as evidence that the recovery is
gathering momentum and that President Obama's policies -- especially his $787
billion economic stimulus bill Congress approved last February -- are "working."
But the back story behind the figures provides cold comfort."
"First, the drop to 9.7 percent unemployment does not reflect the creation
of new jobs that normally accompanies an economic recovery. The number of new
jobs is actually declining. Total nonfarm payroll employment, for example,
dipped by an additional 20,000 positions after a December decline of 150,000
positions...When he signed the economic stimulus, Obama promised the bill would
bolster the economy sufficiently to keep unemployment below 8.0 percent. But the
unemployment rate has exceeded 80 percent since last fall, and total employment
stands at only 129.5 million. The stimulus has been a bust."
"The Hudson Institute' Diana Furchtgott-Roth notes that "the labor force
participation rate declined from 64.9% to 64.6%, the lowest since August 1985.
This means that more and more Americans are dropping out of the labor force.
Last month 661,000 Americans left the labor force." Further..., "the percent of
Americans unemployed for 27 weeks and longer rose from 38.7% to 39.8%. This is
the highest since the Bureau of Labor Statistics started keeping records in
1948." Worst of all, she said, "the number of jobs created in temporary help
services, and indicator of future demand, actually feel from 55,000 to 46,000.
So not only are workers not hiring permanent workers, they're hiring fewer
temporary workers too."
"The federal service is rapidly expanding as Obama increases the size of
government, with 33,000 new positions being added in January alone."