Obama spreads more fertilizer following latest jobs report
posted at 12:08 pm on April 7, 2012 by Howard Portnoy
Another jobs report was released on Friday, and thought the economic news was mixed at best, you’ll never guess how the president received it.
But you don’t have to guess. Here is a video of his remaks on the report. In it he boasts that the private sector added another 121,000 jobs in March, that the unemployment rate ticked down, and that his administration has created over 4 million jobs in the past two years. He doesn’t specify how many jobs he has “saved,” but when you have real positive numbers to run on, you don’t have to rely on invented statistics.
About those real numbers: How positive are they? Suffice it to say that if they represented real growth, Obama—who lies as easily as most people breathe—would not bother with this caveat:
But—it’s clear to every American there will still be ups and downs along the way and that we’ve got a lot more work to do. That includes addressing challenges that are unique to women….
You have to admire the ease with which he changes gears from deceiver-in-chief to campaigner-in-chief, all in the space of a single paragraph. And as to that part about the “ups and downs,” he is crossing all his fingers and toes that “every American” remain as in the dark as possible about the current employment profile of the nation.
Zero Hedge has the hard cold facts, which include an all-time high in the number of Americans who have left the labor force (the current number is 87,897,000) weighted against the birth-death rate adjustment for the same period. What the numbers taken together suggest is that the real unemployment rate, which declined from 8.3% to 8.2% according to the March jobs report, actually rose. The true unemployment rate is north of 10% and likely climbing.
What is more, the economy still needs to add better than a quarter million jobs a month over five years just to get back to its pre-recession unemployment rate. The 121,000 added in March is thus hardly encouraging, nor is the president’s boast that the nation added 600,000 jobs over the last three months. That’s still 175,000 short of the number needed for a passable recovery.
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