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Tag Archives: unemployment

Hiring Plummeted in May

Well, jobs dropped off a cliff in May, expanding by only 38,000, well below forecast, while the the number of people who have dropped out of the workforce crept back to its historic high of December 2015.

From the Wall Street Journal:

U.S. companies slowed their hiring drastically in May and unemployment fell as people dropped out of the labor force, a bleak picture for Federal Reserve officials as they prepare to debate increasing short-term interest rates at a policy meeting this month.

Nonfarm payrolls rose by a seasonally adjusted 38,000 in May, the weakest performance since September 2010, the Labor Department said Friday. Revisions showed employers added a combined 59,000 fewer jobs in April and March than previously estimated.

The share of Americans participating in the labor force fell to 62.6% in May, down 0.2 percentage point from April and matching the level from December 2015.

This makes sense because the Obama economy expanded the last quarter of 2015 and the first of 2016 at the measly rate of one percent. The labor force participation rate is at the lowest levels in 40 years, which also makes sense, not just because there aren’t jobs, but because there’s so much free government stuff out there that people are making a rational decision not to work.

Did Job Growth Occur IN SPITE of Obama?

President Obama is walking around – I’m sorry, flying around, at taxpayer expense – bragging about how the economy is picking up and we’re creating jobs finally and unemployment is going down and THANK GOD FOR MY POLICIES. What policies? The stimulus was five years ago. That’s not making jobs today. That’s like saying I… Continue Reading

Economy Continues to Add Jobs

The U.S. economy added 214,000 jobs last month, the Labor Department reported today, slightly below expectations but still at a decent pace which suggests demand for labor continues to grow. The unemployment rate fell a tenth of a point to 5.8 percent, while job gains for the prior two months rose 31,000, with the new… Continue Reading

U.S. Adds 248,000 Jobs; Unemployment 5.9 percent

President Obama got some welcome news today as the U.S. economy generated 248,000 jobs last month, the unemployment rate fell to 5.9 percent, a six-year low. Economists had been expecting about 215,000 jobs and thought the unemployment rate would remain about 6.1 percent. Job growth was stronger during the summer than previously thought, with 181,000… Continue Reading

Jobs Growth Plummets

Oops. Every time you think this Obama economy is gettin’ goin’ . . . The economy generated only 142,000 new jobs in August, a sharp decline from the 200,000+ jobs it had been creating all year and a vast disappointment for economists who had expected the number to come in at around 225,000. Meanwhile, in… Continue Reading

July Jobs Gain at 200K; White House Bursting with Pride

The economy generated another 209,000 jobs in July, marking the six straight month it has created 200,000 jobs or more, the Labor Department announced this morning. Nevertheless, the labor force participation rate remains near a 40-year low, rising just barely from 62.8 percent to 62.9 percent. And unemployment moved back up a tenth of a… Continue Reading

Strong Jobs Growth in June

The Labor Department today said the economy added 288,000 jobs in June while the unemployment rate dipped to 6.1 percent from 6.3 percent, signaling sustained, robust job growth has arrived, at least for now. May’s increase was adjusted up to 224,000 from 217,000 while April’s number was pegged at 304,000 from the previous estimate of… Continue Reading

Jobs Report Mixed

What? The Labor Department reported today that the economy created 217,000 jobs and Koffler is saying it’s a mixed report? Yeah, it’s a mixed report. You wanna take this outside? Sorry, its’ the New Yorker in me. Yes, an increase of 217,000 jobs is a decent number. It’s not spectacular, but it’s good. The economy… Continue Reading

Another Mediocre Jobs Report

The Labor Department this morning reported that the nation added 175,000 jobs in February, a middling number that will do nothing to address joblessness in the nation. In fact, the unemployment rate in February rose to 6.7 percent from 6.6 percent in January. The latest numbers put job increases at 129,000 jobs in January and… Continue Reading

Poll: Unemployment the Nation’s Top Problem

Five years into President Obama’s administration and more than six years after the recession began, unemployment is the biggest concern troubling the minds of Americans, according to a new Gallup poll. Americans, it appears, are not buying the rosy White House line about all the jobs being created and all the “consecutive months” of job… Continue Reading

Hiring Declines Sharply; Bush Clearly to Blame

The U.S. economy added only 74,000 jobs last month, a circumstance clearly attributable to George W. Bush, because President Obama’s policies do not cause such things. “It’s obvious that the long, dark shadow of George Bush continues to haunt the economy,” said White House National Economic Council Director Gene Sperling. “What’s more, even after leaving… Continue Reading