How many jobs did Obama’s stimulus create or save last month?
Reuter’s headline today:
The only people who didn’t expect job losses were likely the Marxist, Socialist, oblivious-to-reality Liberal politicians, bureaucrats, and operatives in control who believe the best way to stimulate the economy is to destroy motivation and initiative by confiscating the fruits of producers’ labor and redistributing them to those who don’t produce.
“U.S. employers unexpectedly cut 85,000 jobs in December, cooling optimism on the labor market’s recovery and keeping pressure on President Barack Obama to find ways to spur job growth.”
Though the hard left will likely cling to the fact the unemployment rate held steady at 10%, the whole picture shows there’s little to be optimistic about in the job market. President Obama’s policies have led 661,000 to give up looking for work. That means they’re not even counted in the official 10% figure!
“If they were still looking for work and counted as the unemployed, the unemployment rate would have been 10.5 percent. This clearly isn’t your father’s recession. It is looking more like your great-grandfathers. Brother, can you spare a dime?”–Chris Rupkey, an economist with Bank of Tokyo-Mitsubishi
Taking the real unemployment number and combining it with the number of workers underemployed (working part-time but seeking full time employment), the bleak picture appears even more disastrous. Would be workers fitting these criteria make up 17.3% of America’s workforce, and actually rose from 17.2% last month.
During the height of the Christmas shopping season (that’s holiday shopping center to those who don’t believe freedom of religion applies to Christians), when more goods are purchased and shipped than at any other time of the year, real actually increased!
Even after all Obama’s “stimulus” programs!
Our Democrat Congress and White House quadrupled the deficit, set record budgets and national debt, and took over private corporations to save the economy and American jobs. But after nearly a year of suffering under Obamanomics, those saved and created jobs remain to be seen.
It may surprise many to discover which employment sectors are bearing the brunt of the damage inflicted by our Democrat leaders who so often proclaim they represent the “working people.” Those who believe such Leninist rhetoric might expect the “working class” to fare better than their white collar counterparts in the Obamaconomy. Given the President’s affinity for unions and their cozy involvement in setting Presidential policy these days, one might also expect sectors of the economy with a disproportionate number of union workers to fare better than less unionized sectors.
In 2005, blue collar workers were almost twice as likely to be unionized than white collar workers. But last month, the US economy added 50,000 jobs in the white collar professional and business services sector but lost a combined 80,000 jobs in the disproportionately unionized manufacturing and construction sectors.
Blue collar workers are suffering worse under Obamanomics than their white collar neighbors!
It’s been asked before, but with the release of this latest evidence of the failure of Obamanomics the time has come yet again to ask.
Where are the jobs Mr. President?