Unexpectedly, AP hammers Obama administration on jobless report

posted at 12:55 pm on January 8, 2010 by Ed Morrissey

For a while, the Associated Press seemed determined to make “unexpected” and its variants the most overused term in economic reporting.  Today, they give their readers an unexpected shock by dropping the forced sense of optimism normally used in giving bad economic news in their analysis of today’s jobless report.  Instead, Christopher Rugaber reports the obvious — that the loss of 85,000 more jobs is nothing but bad news, and that the 10.0% figure hides the rot underneath:

Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 net jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can’t find jobs.

The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up. Once people stop looking for jobs, they’re no longer counted among the unemployed.

When discouraged workers and part-time workers who would prefer full-time jobs are included, the so-called “underemployment” rate in December rose to 17.3 percent, from 17.2 percent in November. That’s just below a revised figure of 17.4 percent in October, the highest on records dating from 1994.

Despite the sunny spin coming from the White House, the situation got worse as the year wore on:

The participation rate in the labor force — the portion of adults either working or looking for work — fell in December to 64.6 percent, the lowest since August 1985.

The drop was particularly steep in the second half of last year. That suggested that people were becoming discouraged about their job prospects even as layoffs slowed. The reason is that job openings remain far too few.

And Rugaber supplies some historical context as well:

Friday’s report caps a disastrous year for U.S. workers. Employers cut 4.2 million jobs in 2009. And the unemployment rate averaged 9.3 percent. That compares with an average of 5.8 percent in 2008 and 4.6 percent in 2007. Nearly 15.3 million people are unemployed, an increase of 3.9 million during 2009.

The reaction today from the White House suggests that they know the spin won’t hold.  In the earlier report, Reuters finally admitted that the rise of temp workers may not be a leading indicator of recovery, but a shift in approach by employers spooked by ObamaCare and heavier taxes and energy costs.  Labor Secretary Hilda Solis also suggested that companies may be sitting on the sidelines looking for more incentives to hire — a signal that the administration has been giving for months.

Unemployment has not gotten better; it has gotten worse, and the statistics have hidden the real decline in 2009.  Until now, only a few media outlets bothered to highlight the problem.  The AP has finally made it clear — and that will mean a lot more attention in 2010 to the failed Porkulus legislation and the fumbled economic strategies of the Obama administration.  (via Geoff A)

Update: Inn0cent Bystanders is known for producing the amended Romer charts on unemployment rates each month, but this chart is more on point.  It shows the decline of jobs and the steep rate that hasn’t changed at all this year:

There was a slight incline in March and another in November, but the trend is otherwise a straight line downward all year.  This underscores the AP point made today.


Related Posts:

Breaking on Hot Air

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

Comment pages: 1 2

BleedsBlue…where for art thou?

Bishop on January 8, 2010 at 2:02 PM

Add the coming rise in food prices, what with the crappy weather in Florida and the EPA-caused drought in California, and I’m not feeling very optimistic right now.

LibraryGryffon on January 8, 2010 at 1:57 PM

Ah my friend-where was your victory garden?
Why weren’t you spending your time growing & canning & preserving your own food?
It’s where it’s going.
Only the hunter gather lifestyle will be possible soon.

Badger40 on January 8, 2010 at 2:02 PM

I think Steele will be out as RNC head by the beginning of the week.

lorien1973 on January 8, 2010 at 1:18 PM

What makes you say that?

alohapundit on January 8, 2010 at 1:50 PM

He was summoned to an emergency meeting at RNC HQ and canceled a TV appearance at the last minute to do it. details

RushBaby on January 8, 2010 at 2:03 PM

BleedsBlue…where for art thou?

Bishop on January 8, 2010 at 2:02 PM

Perhaps trying to turn food stamps into gold?

Badger40 on January 8, 2010 at 2:03 PM

But remember everything in this WH comes with an expiration date. Service jobs was so 2008.

angryed on January 8, 2010 at 1:58 PM

ha ha…indeed.

RushBaby on January 8, 2010 at 2:04 PM

I think Steele will be out as RNC head by the beginning of the week.

lorien1973 on January 8, 2010 at 1:18 PM
What makes you say that?

alohapundit on January 8, 2010 at 1:50 PM

alohapundit…..let’s say you’re a qualified life guard standing on a beach watching a young child drowning in the water thirty feet in front of you. The lifeguard on duty just broke his leg in three places jumping out of the tower. Someone screams “is there anyone “ready” to save my child” and Micheal Steel looks at you and says “I’M NOT SURE”

Does this answer your question????

Rovin on January 8, 2010 at 2:05 PM

Perhaps trying to turn food stamps into gold?
Badger40 on January 8, 2010 at 2:03 PM

Huddled on a steam grate trying to stay warm, mumbling about hope and change and everything is fine.

Bishop on January 8, 2010 at 2:06 PM

The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up. Once people stop looking for jobs, they’re no longer counted among the unemployed.

This is the meme the media needs to get past. It makes it look like we only have 10% unemployment, because they don’t count many many people… like myself… because we are not getting unemployment.

Whether its due to just running out… or as in my case where I was selfemployed… even though we are looking for work we apparently do not count.

Romeo13 on January 8, 2010 at 2:07 PM

He (President Obama) is a goner!

To preserve the left’s ideology intact, Obama is going to finally meet the wheels under his bus.

Sir Napsalot on January 8, 2010 at 2:10 PM

Perhaps she got a load of fed grants to go back to college?
It would certainly make that decision easier when you’re going to be on the public dole for it.

Badger40 on January 8, 2010 at 1:34 PM

More than likely doing it with government loans. She is in her mid 20′s and I don’t think she would qualify for many grants, or scholarships because she wasn’t that outstanding of a student.

fbcmusicman on January 8, 2010 at 2:10 PM

I think Steele will be out as RNC head by the beginning of the week.
lorien1973 on January 8, 2010 at 1:18 PM

Why? He is a ‘B’ student, afterall…

joejm65 on January 8, 2010 at 2:13 PM

Where in that chart is the stimulus effect? I was told consistently that it was crucial and was cleverly designed by these brilliant leaders to slow or stop the hemorrhage of jobs.

Anyone show me where it really kicked in and started having an effect?

Because it looks more like someone is trying to use a handkerchief as a parachute here and pretending it works… I’m not really seeing any difference in the job losses before and after. Of course the stimulus kicked in later as it took time to ramp up… so where is the change in the curve exactly?

Do I need a magnifying glass to see what a trillion dollars of debt got us?

gekkobear on January 8, 2010 at 2:16 PM

She is in her mid 20’s and I don’t think she would qualify for many grants, or scholarships because she wasn’t that outstanding of a student.

fbcmusicman on January 8, 2010 at 2:10 PM

When I went to college back in the 90′s I received enough federal grants (I was in my mid-twenties & was a TERRIBLE student in HS) to pay for my tuition & books.
I then took out fed loans to live on (I was a divorced mom) so I didn’t have to work & could concentrate on school.
So if she goes to a cheap enough college, there’s plenty of loans & grants for her, unless she’s got lots of $$ stashed away or assets.

Badger40 on January 8, 2010 at 2:16 PM

Do I need a magnifying glass to see what a trillion dollars of debt got us?

gekkobear on January 8, 2010 at 2:16 PM

An electron microscope is more like it.
Very depressing.

Badger40 on January 8, 2010 at 2:17 PM

blockquote>alohapundit…..let’s say you’re a qualified life guard standing on a beach watching a young child drowning in the water thirty feet in front of you. The lifeguard on duty just broke his leg in three places jumping out of the tower. Someone screams “is there anyone “ready” to save my child” and Micheal Steel looks at you and says “I’M NOT SURE”

Does this answer your question????

Rovin on January 8, 2010 at 2:05 PM

No it doesn’t. I am not saying he shouldn’t be fired, I think he should. I was asking what exactly made Lorien say that out of the blue (what did he know and when did he know it) hehe

Oh and it seems I may have an answer:

He was summoned to an emergency meeting at RNC HQ and canceled a TV appearance at the last minute to do it. details

RushBaby on January 8, 2010 at 2:03 PM

Dittos RushBaby, thanks for the link.

alohapundit on January 8, 2010 at 2:18 PM

He was summoned to an emergency meeting at RNC HQ and canceled a TV appearance at the last minute to do it. details

RushBaby on January 8, 2010 at 2:03 PM

Kind of like being called to the principals office huh?

milwife88 on January 8, 2010 at 2:19 PM

Christopher Rugaber, not renewed as AP contributor (unexpectedly).

NickelAndDime on January 8, 2010 at 2:19 PM

Bishop on January 8, 2010 at 2:06 PM

No, he has Blue Cross/Blue Shield for insurance but is still holding out for the public option.

(not kidding- I asked him/her what insurance he/she has so that I can track when it goes under)

journeyintothewhirlwind on January 8, 2010 at 2:22 PM

led employers to shed a more-than-expected 85,000 net

Let me see if I got you right on this nit pick. The phrase “more-than-expected” is qualitatively different than “unexpected.”

OK, I’ll drop the silly nit and talk about the next problem we’ll be facing. In 2010 we are going to see large bailouts to the states. With revenues declining, extended unemployment benefit payouts (another string tied to Porkulus) will be another (JUMBO) shrimp on their collective barbies.

All of the “created or saved” jobs have been little more payouts to the states with new obligations attached to pile on top of those that they already cannot pay. The geniuses in DC are not just feeding Fed-zilla, but they are feeding the 50 beasts whose appetites only grow with each new meal. And guess who’ll be forced to pick up the tab for dinner?

MJBrutus on January 8, 2010 at 2:30 PM

alohapundit on January 8, 2010 at 2:18 PM

I kinda figured you knew why he should go my friend. I just posted the tale for those who don’t understand.

Rovin on January 8, 2010 at 2:33 PM

Sssshhhhh…. Be bewwy bewwy quiet… I’m looking libewal twolls. None here it seems…

abobo on January 8, 2010 at 2:40 PM

The difference is that it’s after January first. From this point forward, nobody is going to be talking about Obama’s QUARTERLY performance; it’s going to be all about his YEARLY performance.

The economic news cycle followed the same pattern all 2009: Wildly upbeat “expert” forcasts, followed by consistantly “unexpected” quarterly results. Then, several weeks later, the “adjusted” figures start coming out. But, of course, the bad news is overshadowed by yet another round of front-page stories about the forcasts for next quarter’s impending recovery…

It’s a lot harder to fudge an entire year. And we can hammer these appalling numbers home over and over again between now and November, while fewer and fewer people will be willing to listen to perenially asinine predictions about the economic turnaround that is always “just around the corner.”

logis on January 8, 2010 at 2:44 PM

Damn….. when you hear Rick Santelli just say “the fed’s sticking around because they didn’t like the jobs report” what does that tell you? The FED and the Treasury are doing everything in their power to “feed the pig” in this FALSE MARKET with your tax dollars. The heathcare bill will end up being a drop in the bucket compared to what these criminals are doing unchecked and unregulated.

Rovin on January 8, 2010 at 2:44 PM

Did the AP finally get the message? “Socialism is a great idea until you run out of other people’s money” Redistribute that wealth Mr Obama, cheer-leads the AP, until it effects them and theirs….stupid is as stupid does. The AP decides, after all the looming jobless rate reports, to revisit the free market model?

Dr Evil on January 8, 2010 at 2:45 PM

Green Jobs for all, and a mold of a chicken, made up of soy, in every pot :)

Dr Evil on January 8, 2010 at 2:47 PM

Green Jobs for all, and a mold of a chicken, made up of soy, in every pot :)

Dr Evil on January 8, 2010 at 2:47 PM

Yes! Soy… and uh… Green!…

Wait… doesn’t that come out to Soylent Green?

Romeo13 on January 8, 2010 at 2:51 PM

Meanwhile back in the Mountains – 417 jobs lost mill closes. I am sure they all appreciate what Senator Max Baucus has done for himself them.

http://www.missoulian.com/business/local/article_45854e68-f9bd-11de-a5a7-001cc4c002e0.html

Dr Evil on January 8, 2010 at 2:54 PM

Sweet! The strawberry tart is back.

Mike Honcho on January 8, 2010 at 2:58 PM

Wait… doesn’t that come out to Soylent Green?
Romeo13 on January 8, 2010 at 2:51 PM

Depends if they belonged to a Union ;) I mean I heard if you belong to SEIU you would become a Greenworker:)

From the link I just posted above, my sister said, the above Mill closing is something the Company wanted to do for sometime, because of the pressure for their workers to join a Union.

Employment is a struggle in the Mountains when there isn’t a recces ion. Some how I don’t think Max Baucus is all that popular back home.

Dr Evil on January 8, 2010 at 2:59 PM

I’m 25 and I’ve had an IRA for only a year. In that time, it’s made nothing additional to what I contributed to it, which totals to less than $1000. Anyone with better financial knowledge than I think it’s worth it to leave it there and risk a desperate government trying to tax it later when they’re strapped for cash, or should I simply yank it before I have much to lose?

ALAS, I’d rather keep my retirement where the government can’t get to it than in the market where they’re just itching to get their hands on it. But that might just be naivete talking.

Animator Girl on January 8, 2010 at 3:03 PM

Just as the “Stimulus” saved/created millions of jobs – Obamacare will save millions of lives…….

We should all go out and hug every one who has a car with an Obama sticker on it.

Oopsdaisy on January 8, 2010 at 3:04 PM

US troops, kin face cuts in base services

Of course we should ask those fighting and their families sacrificing to do with less…unbelievable what did that 780 Billion So called economical Stimulus go to anyway?

Dr Evil on January 8, 2010 at 3:09 PM

For the life of me I cannot figure out why the republicans haven’t been beating the following message into the internet, TV, radio, etc., non-stop, wall to wall:
The economy is in dire straights, unemployment 10+% and not getting better, and Obama and the DemocRAT congress is focused on taking over 1/6 of the economy (healthcare), where there is no crisis. Obama and the DemocRAT congress is focussed on a radical left agenda while the economy worsens. It’s the economy STUPID!
They are playing defense, not offense. They are not even playing defense well.

mountainmanbob on January 8, 2010 at 3:10 PM

Depends if they belonged to a Union ;) I mean I heard if you belong to SEIU you would become a Greenworker:)

From the link I just posted above, my sister said, the above Mill closing is something the Company wanted to do for sometime, because of the pressure for their workers to join a Union.

Employment is a struggle in the Mountains when there isn’t a recces ion. Some how I don’t think Max Baucus is all that popular back home.

Dr Evil on January 8, 2010 at 2:59 PM

I just came back from vacation there. It was front page news every day in the Daily Interlake (the local newspaper in Kalispell, MT) and so was Max Baucus drunk on the Senate Floor. Also, the Daily Interlake has a conservative editor. Although I live in Hawaii, I am seriously thinking about subscribing to the newspaper just to keep it going. I had never seen a newspaper with a conservative editor and my jaw hit the floor when I read his editorials; it was inspiring.

alohapundit on January 8, 2010 at 3:11 PM

Animator Girl on January 8, 2010 at 3:03 PM

I think we are going to have a double dip recession.

http://mises.org/story/3539

Dr Evil on January 8, 2010 at 3:18 PM

Ezra Klein comes up with this bonehead political analysis …

A competitive, two-party democracy shouldn’t have long periods of single-party dominance. The mid-20th century, which did see Democrats with that sort of majority in the House, was the product of a three-party system in which a party of conservative, racist Southerners entered into a coalition with the Democrats. But that’s over now.

I guess that was an alliance of Democrats with Southern Democrats.

J_Crater on January 8, 2010 at 3:21 PM

alohapundit on January 8, 2010 at 3:11 PM

The cable news and network news, is not reporting on what’s happening on the ground back home. They have their hub set up in D.C. but they don’t get, that isn’t where the Power resides. If we believed the MSM’s reporting, we would think it’s a love fest back in Montana for Baucus. He isn’t making Liberals or Conservatives happy with his legislation.

Dr Evil on January 8, 2010 at 3:28 PM

A competitive, two-party democracy shouldn’t have long periods of single-party dominance. The mid-20th century, which did see Democrats with that sort of majority in the House, was the product of a three-party system in which a party of conservative, racist Southerners entered into a coalition with the Democrats. But that’s over now.

J_Crater on January 8, 2010 at 3:21 PM

Ezra Klein doesn’t mention, We have had someone from Yale or Harvard running the country for how long now? That’s not Southern that’s New England. Bush, Clinton, Bush, Obama, John Kerry ran against Bush, they both went to Yale. No I see a trend that isn’t good for the country, and it doesn’t have anything to do with who southerners identify with.

They say Kerry didn’t get elected because he was New England Liberal…well Obama went to Harvard so did his wife, and so did a lot of the people surrounding him, and giving him advice. I think the Liberals are projecting again….there is hate and intolerance, it comes from the Progressives they are ideologically intolerant.

Dr Evil on January 8, 2010 at 3:35 PM

I think we are going to have a double dip recession.

Dr Evil on January 8, 2010 at 3:18 PM

I think you are correct, we still have a whole new wave of ARMS hitting this year as well as the commercial real estate tsunami. If I remember correctly, I think that 2007 was a record year for ARMS. Couple that with Freddie/Fannie/Ginnie/ and FHA still lending to people who cannot afford the loans, big trouble just around the corner, I think.

bluemarlin on January 8, 2010 at 3:39 PM

Normally I wouldn’t blame a president for the economy including job numbers.

But, if one is doing everything they can to actually bring about a disastrous economy, then that’s a different matter. Government can hurt the economy very easily, but can only do so much to improve it. Namely, dropping BS regulations over the private sector and lowering taxes.

Dr. ZhivBlago on January 8, 2010 at 3:41 PM

I guess that was an alliance of Democrats with Southern Democrats.
J_Crater on January 8, 2010 at 3:21 PM

Yes, but they weren’t REAL Democrats. It was a “competitive third-party”, that just happened to all vote the same way on nearly every issue.

You see: a hundred and fifty years ago, the American Democratic Party advocated government-enforced discrimination among individuals based on the color of their skin. And the Republican Party opposed them.

There is a bit of confusion today, caused by the fact that both parties still hold the same positions. The difference is that now the Democrats advocate discriminating in favor of a different race. So the mid-twentieth Century was sort of a transition period for them.

logis on January 8, 2010 at 3:45 PM

Couple that with Freddie/Fannie/Ginnie/ and FHA still lending to people who cannot afford the loans, big trouble just around the corner, I think.

bluemarlin on January 8, 2010 at 3:39 PM

Yes they are re inflating the bubble – the same bubble that took us down the last time. Construction usually leads us out of a recession. Not this time and it’s a jobless recovery.

Dr Evil on January 8, 2010 at 4:30 PM

Lets see;

- Tax cuts expiring,
- Health care,
- Cap and Trade,
- New regulations,
- EPA,
- Financial regulations,
- Over reaching government,
- Bankrupt states needing to raise taxes

Hmmm, I have no idea why employers aren’t hiring.

LifeTrek on January 8, 2010 at 4:36 PM

Shame on AP for lying about THE LIAR IN CHIEF.

Cybergeezer on January 8, 2010 at 4:50 PM

Green Jobs for all, and a mold of a chicken, made up of soy, in every pot :)

Dr Evil on January 8, 2010 at 2:47 PM

And of course, since soy alters reproductive hormones, this is also a good way to lower the birth rate.
What a conspiracy!

Badger40 on January 8, 2010 at 5:03 PM

***
Don’t worry that the number of lost jobs keeps increasing–the rate of loss is slowing.
***
In unrelated good news–the sink rate of the Titanic has finally gone to zero. The bad news is that it is still stuck in the mud 2000 ft. below sea level.
***
And look at the bright side–Comrade Obama (PBUH) is about to create or save hundreds of thousands more jobs with his “green agenda” $billions$ in spending. Just have Beltway Bob Gibbs explain it to you at his next presser.
***
John Bibb
***

rocketman on January 8, 2010 at 5:28 PM

rocketman on January 8, 2010 at 5:28 PM

But WAIT! There’s MORE!

Consider the $billions$ of dollars in spending they are saving us by demonstrating their level of restraint!!!

The Democrat Congress: If you hate our problems, wait till you see our solutions!

Roy Rogers on January 8, 2010 at 5:33 PM

Bozo and company continue to create a poisonous environment for those who produce, so guess what? They go elsewhere.

The LSM is turning on the clown posse.

The unemployment rate held steady at 10 percent. It did not creep higher only because so many people stopped looking for work and are technically not counted as unemployed.

But the jobless rate is likely to rise in coming months as more people see signs of an improving economy and start looking for work again. Some economists think it could near 11 percent, which would be the highest since World War II, by June.

Um using the method they used to use its already way over that, chuckles.

Is this piece intended to prepare people for extended BREADLINES in obamaville?

dogsoldier on January 8, 2010 at 5:48 PM

They left out the fact that those receiving benefits beyond the initial period are not counted either.

dogsoldier on January 8, 2010 at 5:49 PM

Did the red headed chick find a job yet? I do worry about her.

Sharke on January 8, 2010 at 6:00 PM

Obama “fiddles” with ObamaCare while the economy needs 110% attention. And where was he on Perimeter Security of the Country….absent.
Hell…job one for the One is Security of the Nation. Without it, the economy can’t be a good as it would be in a safe and secure environment.

If you put the Citizens are your number one priority, then secure the perimeter of the country and the economy needs to be looked after to support the lifestyles of the peoples.
One is a FAILURE!

AnyONE with common sense would do what is uurgent and important, rather than a year fiddling on ObamaCare. Egads, it mades me MAD and “I’m not going to take it any longer!”

Muskoka-Eh on January 8, 2010 at 6:13 PM

I’ll hire her. She’s suffered long enough.

One other point about the Obama recession: so far, the crony capitalists who’ve buddied up to Democrat policies haven’t paid any price at all. Heck- they’re making record bonuses.

MTF on January 8, 2010 at 6:21 PM

B

adger40 on January 8, 2010 at 2:03 PM

To funny but also to true. Leftists are a bunch of amateur alchemists trying to turn non-wealth into wealth. They just don’t understand that this is as foolish as the ancient alchemists trying to turn lead into gold via chemical reactions.

chemman on January 8, 2010 at 6:30 PM

SHOULD HAVE BEEN: “AN UNPRECEDENTED UNEXPECTED EXPECTATION”.

GarandFan on January 8, 2010 at 7:37 PM

An incensed Zerobama immediately summoned TurboTax Geithner to to call Ass–ociated Press with a strongly worded memo:

“No stimulus package for you!”

viking01 on January 8, 2010 at 8:04 PM

BleedsBlue…where for art thou?

Bishop on January 8, 2010 at 2:02 PM

Bled out

Saltysam on January 8, 2010 at 8:33 PM

Lets see;

- Tax cuts expiring,
- Health care,
- Cap and Trade,
- New regulations,
- EPA,
- Financial regulations,
- Over reaching government,
- Bankrupt states needing to raise taxes

Hmmm, I have no idea why employers aren’t hiring.

LifeTrek on January 8, 2010 at 4:36 PM

It’s astounding, isn’t it? “Duh, I wonder what could be wrong?” Reality doesn’t exist – “We all agree that up is down and that the sun comes up in the west.”

There are no adults at the helm in Washington, DC, or in the Beltway for that matter.

Django on January 8, 2010 at 8:57 PM

Obama’s Legacy.

daesleeper on January 8, 2010 at 9:55 PM

Obama & Democrats wouldn’t know how to create (or save) jobs if you gave them $728 BILLION and called it a Stimulus Bill… Oh. Wait.

TN Mom on January 8, 2010 at 10:28 PM

I really wish there were more people on the right explaining WHY we are losing jobs.

Congress, with Health Care meddling, Carbon Taxing, and other Global Warming Hysteria crap have small and large businesses scared to add employees, or expand anything.

The new mantra from the right should be “DO IT WITHOUT WASHINGTON!!!”

cntrlfrk on January 8, 2010 at 11:19 PM

Unexpected? I don’t think there was any poster here at HA (save for trolls) who expected people to start getting back to work. For the trolls: America will get back to work when we eject the democrats from power, and then ONLY if Republicans act like conservatives.

Revolt against the national socialists!

Mojave Mark on January 8, 2010 at 11:22 PM

I think Steele will be out as RNC head by the beginning of the week.
lorien1973 on January 8, 2010 at 1:18 PM

Palin as RNC head has a nice ring to it. I know I’m just dreaming.

docdave on January 9, 2010 at 12:41 AM

The FED and the Treasury are doing everything in their power to “feed the pig” in this FALSE MARKET with your tax dollars more T-Bills.

FIFY.

TheMightyMonarch on January 9, 2010 at 2:12 AM

Here is one I found yesterday:

I call this “How to cook the books or how to make the numbers come out “uhhhhhhnexpectedly” ”

http://finance.yahoo.com/news/Economy-sheds-85000-jobs-in-rb-3785494434.html?x=0&.v=2

FTA:

November payrolls were revised to show the economy actually added 4,000 jobs rather than losing 11,000, as initially reported, breaking a streak of 22 consecutive monthly losses, the Labor Department’s report on Friday showed.

With revisions to October, however, the economy lost 1,000 more jobs than previously estimated over the October-November period and the stable unemployment rate in December reflected a surprisingly large number of discouraged jobseekers leaving the labor force.

December’s payrolls plunge was much worse than what economists had expected. Wall Street had forecast a flat reading and a tick up in the unemployment rate to 10.1 percent.

The U6 number did in fact tick up but the U3 number they all like to use stayed the same. Note: They’re tinkering with the U6 number also, but its still closer to reality at 17.3%

They “expect” unemployment to remain high for all of 2010. Which makes sense considering the poisonous environment the libturds created and maintain.

But how could they ever not make it so? None of them ever held a damn job in their lives.

dogsoldier on January 9, 2010 at 8:02 AM

The Democrat campaign slogan for 2012 will be:
“Elect us again, so we can finish cleaning up Bush’s mess”.

Cybergeezer on January 9, 2010 at 11:59 AM

Charles Gibson just emailed me. He says he’s never heard of any decline.

Purple Avenger on January 9, 2010 at 12:24 PM

That same poor girl in the picture has been standing in line for months! “Obama’s killin me. And my unemployment comp is running out”. Pretty soon she’s going to move into the “no longer looking” category.

chris999 on January 9, 2010 at 5:40 PM

In late 2008 – early 2009, I watched in horror as Obama deliberately tanked the stock market day after day running up to and after his inauguration. All I could think was, stop opening your mouth you saboteur! Are you trying to crash the stock market on purpose?

Then I realized, yes, yes Obama was trying to crash the market. His chief of staff Rahm Immanuel was quoted saying “never waste a good crisis.” So they manufactured one.

All of this was by design.

scotash on January 10, 2010 at 3:34 AM

These MSM types are just upset that their bottom lines are hurting and they can only figure that it’s because of the economy.

They have yet to realize that they’re going down even if the economy does improve because millions of us are onto and tired of their propaganda, lies, omissions and obfuscations.

Dr. ZhivBlago on January 10, 2010 at 9:42 AM

Good thing Bush is gone. Why I’d hate to have unemployment at levels we had during his 8 years.

Oh wait…

angryed on January 8, 2010 at 1:36 PM

+1

tartan on January 10, 2010 at 3:38 PM

For all fans of the “Redhead on a Cellphone Standing in Line” picture that Ed and AP love to use. Fear not! She has a job now: here Pause it at :11 and you’ll see her.

alohapundit on January 10, 2010 at 3:46 PM

Ah my friend-where was your victory garden?
Why weren’t you spending your time growing & canning & preserving your own food?
It’s where it’s going.
Only the hunter gather lifestyle will be possible soon.

Badger40 on January 8, 2010 at 2:02 PM

I’m trip’ling my plot
For vegetables this Spring.
No space for flowers…

Haiku Guy on January 10, 2010 at 8:44 PM

Comment pages: 1 2