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Joblessness Continues to Grow

Yes, I know that’s not the headline you’re reading everywhere else. But that’s the fact.

The economy added 103,000 jobs last month, the Labor Department announced today, but as many of you know, there needs to be close to 150,000 new jobs each month to keep up with growth in the workforce. That’s why the unemployment rate remained the same, at 9.1 percent.

The White House is sure to treat the better than expected numbers as an announcement that the president had figured out how to turn rocks into gold, but it still means that more people are out of work.

Don’t be fooled when the White House talks about private sector job growth, which totaled 137,000. They do that to obscure the total public and private sector figure, which is the true employment figure of 103,000 new jobs, as if people working for the government didn’t exist.

We’re stil not close to the Feb-April 2011 figures, which averaged over 200,000 new jobs per month. And a broader measure of unemployment, which includes those who have stopped looking for work and those taking part-time jobs – neither of whom are counted in the standard unemployment rate – is at its highest level of the year, at 16.5 percent.

That suggests the 9.1 percent unemployment rate won’t come down much soon, since once those people start looking for work again if the economy improves, they get added into the calculation of the standard unemployment rate.

Hopefully, though, the fact that the economy is creating some amount of jobs right now suggests that we won’t have a double dip recession.

17 thoughts on “Joblessness Continues to Grow”

  1. They didn’t really ADD 103,000 jobs last month because 45,000 of those jobs were striking Verizon workers RETURNING to work. They really only added 58,000 jobs which is 2,000 jobs less than what they estimated. The MSM wants you to THINK it was better than estimated. It is worse than what you report here Keith.

    1. I think the 45,000 number may be skewed as well as many states don’t (and shouldn’t) grant unemployment to a person who has chosen to strike.

  2. There are those who think us old fogeys collecting SocialSecurity benefits don’t really care about the unemployment crisis because we are no longer part of the work place. But, we care more than you would think; we need the young ‘uns to get themselves back to work and start paying those “payroll taxes” that keep our benefits from coming to a halt.
    We don’t want our grown children (and their children) moving back “home” with us until they “get on their feet again”.

    This whole economy is really upsetting the Senior community ; we paid our dues, raised our families, were good citizens, and now we want to go to Bingo, sit in the park, volunteer at the library, and have our children take US out for a nice dinner. But, nooo, we find ourselves the bogeyman who created “global warming”, put our country in insurmountable debt by not dying soon enough, elected bad people to govern us, and just generally screwed up the whole country.

    (it’s good to vent once in a while)

    1. I’m with you 100% srdem. Always thought retirement would be our chance to kick back and enjoy the fruits of our labor. But the elitists always need to identify a bogeyman to point their finger at. We retirees are just one of the many they blame for their decades of graft and thievery. Wish these elitist ‘folks’ would take a look in the mirror to see who the real bogeyman is…

  3. Well I guess it could be considered “good news” since that’s 103,000 new jobs for conservatives. Liberal progressives don’t want jobs, they want government handouts; they don’t want to pay taxes! That’s for the other guy, yeah…that rich guy over there.

    Rising taxes on the rich will only trickle down and we will pay the added cost. I for one, can’t be taxed any more no matter what form it takes. Enough is enough.

  4. I don’t believe we ever got out of the recession. The fed and the bureaucracy have been working together to shoot heroin into the veins of the economy but it is only a temporary fix. That is why Obama is frantically begging for his jobs bill to be passed. He needs another fix to last until the 2012 election. That is what this is all about in my view. He wants to keep the economy limping along until his coup is complete.

    Maybe I’m missing something, but I don’t see any silver lining here. Please someone correct me if I’m misinterpreting these jobs number. It appears to me the new jobless claims for September are far outnumbering any supposed new jobs created.

    The economy reportedly created 103,000 jobs in September 2011.
    Number of new jobless claims September 2011–
    1 Sep – 409,000; 8 Sep – 414,000; 15 Sep – 428,000; 22 Sep – 423,000; 29 Sep – 391,000. Total = 2,065,000 new jobless claims.

    If you subtract the measly 103K from 2.65 million new jobless claims for the month, there is still quite a deficit working here.

  5. Why aren’t the Republicans screaming from the rooftops: “Hey, the real number is 16.5, and here are the tricks the White House plays with the numbers.”

  6. Pingback: Carney: Obama Merits Reelection if Economy Stays Bad | The Blog on Obama: White House Dossier

  7. I have a question in regards to the numbers. Do they include the thousands of “99ers” (those who were on unemployment benefits for more than 99 weeks) who have now fallen out of the system because their benefit time is up?

    1. Speaking of the 99ers. I have a sneaking suspicion that the 99%ers of occupy Wall Street are the same 99ers who were rabble-rousing about extending unemployment not so long ago. The unions were trying to unionize the chronically unemployed 99ers. Maybe that is why they have the union out on the street with them this time around…

      1. I’d heard most of them were fairly young, in their twenties, though I could be mistaken. If that’s the truth, I’d lean more toward the idea that they are bored young adults, angry because they weren’t handed a job along with their expensive college diploma, and they’re out to make somebody pay. The Union, heck, they seem to appear at most any loud and obnoxious event they stumble across. Trying to recruit into the ranks, probably.

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