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More Weak Jobs Numbers for the Obama Economy

by Keith Koffler on February 1, 2013, 9:38 am

The economy registered more sluggish job growth in January as employers added 157,000 positions and the unemployment rate rose a tenth of a point to 7.9 percent.

Obama press conference East Room

Everything's fine, don't you see?
Photo by Keith Koffler

Looks to me like the numbers came just a little too late to save Romney. If the economy had contracted just before election day, as it did the last quarter of 2012, along with an increase in unemployment, the result on November 7 might have been different.

Maybe not, but maybe.

As you may be aware, 157,000 jobs is about what’s needed to keep pace with population growth. It does nothing to lower unemployment. The figures for last year were revised upward to show an average monthly increase of 181,000, but that’s still not enough to do much about unemployment or begin to start recapturing the millions of jobs lost since 2008.

In short, this is more lousy Obamanomics. And many of the regulations Obama is imposing and will impose on the economy, whether related to health, the financial sector, or the environment, haven’t even really started kicking in.

What’s more, the economy just got hit with massive tax increases at the beginning of last month – including a rise in payroll taxes – and the effects of that are just starting to be felt. More tax increases are on the way.

White House Council of Economic Advisers Chairman Alan Krueger this morning released the following bit of propaganda:

While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we pursue the policies needed to build an economy that works for the middle class as we continue to dig our way out of the deep hole that was caused by the severe recession that began in December 2007.

Continuing to heal? For five years? Is this the hemophilia economy?

Americans will now have to live with the choice they made. Elections, as they say, have consequences. That’s how the system was set up, and in that sense, everything is working perfectly.

Leave a Comment

{ 48 comments… read them below or add one }

Julie Brueckheimer February 1, 2013 at 9:40 am

“The numbers came just a little too late for Romney.” More like, the numbers were manipulated before the election and revised when it was too late.

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Star February 1, 2013 at 10:36 am

I don’t even know if it would have helped…As the years rolled on in this mess, I think people cobbled up assistance, off the books work, moving in together, lowered expectations, etc to scrape by–then voted for this character out of pure emotion, cultism, ignorance, I don’t even know anymore.

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cincycinco February 1, 2013 at 12:58 pm

Obama manipulate information and timing for political gain? He wouldn’t do that, would he? I know, let’s ask Ambassador Stevens that question…

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RT February 1, 2013 at 1:18 pm

Something is amiss… We just need the smoking gun… The sobering reality, there is one and it just has not been found…

The search for just how Obama pulls this stuff off will continue as it should. Like WMD in Iraq, it is just a matter of time, focus, diligence, and perseverance.

Forward! Oh, um, I mean onward…sorry…. ;)

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ImNoDhimmi February 2, 2013 at 9:12 am

Is this the same RT who defends Barry and the Dems vociferously at every opportunity?

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JBH February 1, 2013 at 9:44 am

What’s the story on the huge revision upwards for the last two months?

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RickW February 1, 2013 at 9:55 am

Whew! Just imagine how bad it would be if Obama hadn’t organized that Jobs Council……..(ahem)

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Sadie February 1, 2013 at 10:21 am

Keith asked:Is this the hemophilia economy?
The Black Knight answers: “It’s just a flesh wound!”

http://www.youtube.com/watch?v=zKhEw7nD9C4

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Steve February 1, 2013 at 10:22 am

He WANTS the numbers to go down so that more people will turn to the holy government for help.

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William February 1, 2013 at 10:34 am

I would revise the third paragraph to read, “Most likely not, but maybe.” This was an election decided by people who were afraid that Romney was going to ban birth control pills, that rich people were somehow stealing from them, that Romney would give their spouse cancer, etc., etc.

These numbers and everything to come will be irrelevant to the people who voted Obama. They expect government to provide for them, not to provide for themselves. As long as “experts” like Mr. Kreuger keep telling them it’s getting better, they’ll keep believing that it is. After we have “the best-looking contraction in US GDP you’ll ever see.”

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blondie February 1, 2013 at 11:54 am

So true. The people who voted for Obama don’t pay attention to these numbers. They just want the freebies they think they are entitled to. Wouldn’t matter what the unemployment rate was.

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cincycinco February 1, 2013 at 1:18 pm

You’re probably right, but it does not change the fact that Team Obama was nerd wrestling numbers like there was no tomorrow just so His Vengefulness could have almost as much assurance as his narcissitic nature demanded that he would indeed be Prezzy for another four.

More sinister was the handling of Benghazi for his obvious political gain, and the fact that the loss of lives and invasion of U.S. sovereign territory (Our embassies ARE legally part of the United States) were of less importance than assuring his re-anointing should have been enough to give ANYONE pause.

After all, in any possible world, would Nixon have lost to McGovern? No reasonable person would think so. Nixon’s paranoid nature, though, did not allow him to leave ANYTHING to chance, so off went the world’s stupidest political mission, and the rest is history.

Nixon did not lose his job for the crime. He lost his job for the cover-up. Ironic, then that primo Nixon attack dogs like the then- Hillary Rodham are now on the other side of the fence, is it not?

Is it “Laws for thee, not for me”? Or is it just that, well, Obama is good and Nixon was evil, so ends justifies the means? Who makes THAT judgement, anyway!?!

There should be an investigation! Let’s call the Justice Department! I’m sure Eric Holder will be all over that!

We COULD go for impeachment, just like Nixon got! Let’s see, it goes to the House, and if it’s upheld there, it’s off to Harry Reid’s Senate – oh, er, ok, THAT went well!

There is no rule of law in America now. Team Obama has seen to that. The whole thing is rich in irony, but perhaps the biggest one is that those who support him the most will suffer the most as well…

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owen_kellogg February 1, 2013 at 10:39 am

Here’s a flashback to 2004. Back then, Democrats were whining about how a 5.4% unemployment rate wasn’t good enough.

Unemployment rate drops (Aug 2004)

“You need about 150,000 new jobs a month to keep even with growth in population,” he said. “Taken in proper context, it’s just not a very good record.”

-Robert Altman, Senior Economic Adviser to Sen John F’n Kerry-

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DeniseVB February 1, 2013 at 11:50 am

I see the stock market is rising back above 14,000 ? So everything’s hunk-dory with Obama’s 1% friends ?

Reducing the payroll probably helps :(

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Star February 1, 2013 at 12:02 pm

Well–people’s 401k’s are in there, too.

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Julie Brueckheimer February 1, 2013 at 12:13 pm

People with 401Ks are going to get stung again if they’re investing in the stock market.

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Star February 1, 2013 at 1:40 pm

Mutual funds–almost everything–is in the market. Treasuries are sort of bad now…

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William February 1, 2013 at 12:10 pm

I find it hard to complain about it. My retirement investments are finally starting to look good again.

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RT February 1, 2013 at 1:37 pm

Agreed William – just cuz it is hard to complain about does not make it a fair target for some. And, frankly, most folks would not give Obama the credit anyway… A good market is good for anyone with investments – typically the middle class on up…

The reality, the very rich make money on the way up and often on the way down. That simple. I mean, who is driving the very slow but steady surge in real estate? Oh, folks with tons of cash scooping up some great buys… Even when the super rich do lose wealth, they do not hit the streets and feel it like the rest of the 99%. We all get it, a net worth of 125 mil down 20% to 100 Million… The pain… You can feel it… This conversation has been going on for several millenia – it is, the way it is.

Oh, that reminds me – I need to pick up a lottery ticket…lol…

So, screw the 1%. Not by taxes and such – have them pay a fair share and limit gross loopholes. Rather, just factor them out of the “bitch equation” to the degree possible and put a few in jail when they seriously game the system. Government is best advised to focus on RT’s 401(k). When RT is happy, everyone around him is happy…

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Susan February 1, 2013 at 2:06 pm

“Oh, folks with tons of cash scooping up some great buys…” Too bad it’s the Chinese “folks” and not the American “folks” who are snapping up those great real estate buys. Won’t be long before China becomes the landlord of the US.

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RT February 1, 2013 at 2:16 pm

Yes Susan – good point. I see a lot of that where I am… Not just Chinese – anyone with cash. To include white guys in suits forming corporations to do the same… A good deal is a good deal…

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Star February 1, 2013 at 4:14 pm

In AZ, it’s Canadians.

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ImNoDhimmi February 2, 2013 at 9:15 am

Surely you’d prefer Canadians to Chinese?

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Star February 2, 2013 at 12:40 pm

Never thought about it. I guess. I used to have a Chinese woman who drove me. I also run into Russians all the time in Phoenix..

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Star February 2, 2013 at 12:42 pm

I also started a website on creativity a few weeks ago and have more than 600 hits–more from Norway than the US. Go figure that one. Sometimes I just watch the passing parade. Entertaining. http://thwim.blogspot.com.

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mark February 5, 2013 at 1:45 am

Candians ARE Chinese. The Chinese started buying up real estate in Vancouver (and across the country) and moving into Canada in the 90′s. – fyi

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Susan February 1, 2013 at 12:02 pm

The economy is exactly where Preezy Revenge wants it to be in order to accomplish his fundamental change. Why else would he leave the Southern border wide open and advertize government social welfare programs to the incoming hordes? Why else would he try to stifle what could provide a tremendous economic boon to this country – shale oil drilling?

There are many reasons why the Republicans lost this election. The sitting president is a cult of personality, who was sheltered from his transgressions by state-run media. Republicans took their base for granted and intentionally drove off the Libertarians with their convention rules change fiasco. Romney isn’t a conservative, so couldn’t articulate conservatism. In the last debate, Romney didn’t appear to be that much different from Obama to the low information voter. Then there was the war between the takers and the makers. Because of the wealth and liberty stealing policies of this administration, the takers outnumber the makers. The takers wanted to preserve their livelihood, and all the Republicans were talking about was taking that away from them. As a result, many voted for the devil they know rather than the evil, rich, wife-killing, dog-hating Romney they really didn’t know all that well…

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RickW February 1, 2013 at 12:09 pm

Whoa…..Your 2 paragraphs capture the essence of our problems better than any pundit essays I’ve read yet. Nice work!

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Susan February 1, 2013 at 12:51 pm

Thanks Rick. Now if we can only figure out how to defeat tyranny and fix our problems.

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blondie February 1, 2013 at 1:19 pm

I 2nd that Susan. Great post!

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RT February 1, 2013 at 2:11 pm

Susan – Agree with RickW on that second paragraph. It does express an opinion in a way that may make sense to many.

I just LOVE the line “to the low information voter”. Nice! Sounds like something a high brow liberal academic might be accused of saying about a single minded simpleton… The connotation of “low information” can swing on the IQ chain or can be placed upon the focused / laser-like dogma of fundamental truths… I digress, but interesting think about.

Nonetheless – good stuff Susan, thanks.I also thing you are spot on that most folks who struggling to survive will characteristically vote for anyone who they think will improve their quality of life… You know, Maslow’s Hierarchy of Needs: Survival first…

Remember 50 years ago when the south was largely all “blue”? Did they become “high information” voters through education? Need? Growth in political thought process? Something else in play?

Not baiting, just curious on your thoughts (or anyone else).

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Susan February 1, 2013 at 3:01 pm

If you ever listen to Rush Limbaugh, you would know what a low information voter is. Hint: It has nothing to do with one’s IQ level or political affiliation.

http://www.rushlimbaugh.com/daily/2013/01/15/call_from_a_former_low_info_voter

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RT February 1, 2013 at 3:42 pm

Hi – I know what the term low-information means Susan, thanks for the assist anyway. Nonetheless, I liked your post.

We know the term low-information does not originate with Rush, nor is it limited in context to which Rush uses it – primarily a common indictment of folks who vote for the democratic ticket. And, I do listen to Rush… Not often, but I do get a dose now and then. I prefer reading… I just read this from Rush:

“Because the low-information voters are now the new kings. The morons, the people that don’t pay attention. They’re being honored today because they voted for Obama. They’re being celebrated. They are the reason Obama’s Person of the Year. Obama’s the magician, the brilliant guy who found a way to reach out to the low-information, uninformed, don’t care, apathetic voters and turn ‘em out. And so, politics is gonna be made up of campaigning to those people.”

More RUSH: “So what does all this mean for me going forward, ladies and gentlemen, as your host? What does it mean for me? One thing it might mean that for an hour or two a week I become a low-information guy myself to appeal to them. I mean, just an hour or two a week I’ll become a moron. I don’t know anything. I may even go up to Port St. Lucie and stop into the McDonald’s and ask for some McNuggets, and when they don’t have any, I’ll call 911 — and then I’ll call the newspaper so they found out that I did it.”

If nothing else, Rush says what he feels, no?

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Susan February 1, 2013 at 4:11 pm

Rush is the kind of guy you have to really listen to his show in order to get the whole story. Picking and choosing a couple of paragraphs out of an entire segment is the kind of thing the Soros-bots at Media Matters likes to do.

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RT February 1, 2013 at 5:24 pm

Well, you have me there since I do not listen to Rush on a daily basis… I could say I do, but that would be a big whopper…

Nonetheless, the connection of the term low-information and IQ is well established, dateing back to the 90′s by a Clinton guy. Simply, the connection is ignored at some measure of peril – provided one invests the effort to discern the casual, if not complex relationship that is the result of using labels to describe a wide swath of people from diverse set of demographics.

Coming full circle, loved your post. Watching the Superbowl? Have a favorite?

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A.J. February 1, 2013 at 12:04 pm

According to the administration’s reasoning, if I was in a coma it would be a sign that I was “continuing to heal”!!

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Scottso February 1, 2013 at 12:36 pm

Feb 2009
Dow at 8,300
Unemployment at 7.8%
Black unemployment at 12.6%

Feb 2012
Dow at 14,000
Unemployment at 7.9%
Black unemployment at 13.8%

So, the rich get richer and the regular folks get it worse.

Nice going President

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Julie Brueckheimer February 1, 2013 at 2:08 pm

Bernanke is pouring money from the US Treasury into the stock market to keep it up. Surely the dam will break one day, and you and I as taxpayers who feed the Treasury will take a hit even though we are not ‘in’ the stock market per se along with the small investors who are biting again. People like Warren Buffet buy when the prices are down and sell when they are high; the small investors do the opposite, and when a crash comes, they cannot get their money out of the market in time.

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RT February 1, 2013 at 1:10 pm

Confirmation Bias + Cherry Picking = ???

Name your desired result… Had only someone had a picture of Obama having his way with a Martian or maybe “some group love” with a few of the unwashed 47%… If only…

“I coulda been a contender… ”

If just wishing it so “made it so”, the outcome would have been, would have been, um, would have been the same. I mean, logically (kidding), the collective wishes of those voting for Obama added up to more than those “wishing” for Romney. The most collective wishes win…usually. Maybe we need a “wish multiplier”… Hmmm, hey, we are on to something here…

If we can doctor the electoral counts and “manage” to redraw some lines on a few State maps, by all measured reason, we might be able to control the outcome… A wish multiplier if you will! Yes!

What? Really? Oh.. I see we are already working on that… And they say the best and brightest are not working in Government.

We all know the sayin’ = you ain’t cheatin’, you ain’t tryin’…

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Just2old February 1, 2013 at 1:30 pm

You said it Keith; propaganda. Krueger spouts the same crap as his boss! spin, spin, spin.

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Scottso February 1, 2013 at 1:43 pm

Keith,

You should write a post just on Alan Krueger’s Employment posts.
He has been phoning them in for over a year and they all have the same template (aka broken record).
If you sent the same exact message to your boss for every Month End report would you still be working??

Check out the first paragraph from his official Employment posts of the last 6 months. http://www.whitehouse.gov/blog/author/Alan%20Krueger

Feb 2013 While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.

Jan 2013 While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.

Dec 2012 While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.

Nov 2012 While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.

Oct 2012 While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.

Sept 2012 While there is more work that remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.

I THINK 6 MONTHS IS ENOUGH for me to go back and report. The same message. That’s because this administration has nothing new to offer. The same excuses, the same strategies, the same (or worst) results.

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Just2old February 1, 2013 at 2:04 pm

The definition of insanity – expecting a different result!

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ann speaker February 1, 2013 at 1:47 pm

star,

you are saying what I think. How did it get to this?

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Brian Burke February 1, 2013 at 3:15 pm

“as we continue to dig our way out of the deep hole”

Are you supposed to dig yourself out of a deep hole? How does that work? You just keep digging and you get out of the hole?

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RickW February 1, 2013 at 6:30 pm

Well, yes, Brian. We keep digging until we reach China and then we’re out of the hole. This is the central philosophy of Dear Leader’s economic plan………..

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srdem65 February 1, 2013 at 6:53 pm

lol

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gracepmc February 1, 2013 at 6:19 pm

And Obama puts the keystone pipeline on hold for another 6 months.

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Susan February 1, 2013 at 7:36 pm

If the little tyrant would just get his Gucci’s off the neck of American ingenuity, we could experience the economic boom of our generation. Fracking is the key to our independence.

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