Only 80,000 New Jobs For June Puts Obama On The Re-Election Ropes!
 

http://www.cnbc.com/id/48092010

June Job Creation at 80,000; Rate Holds Steady at 8.2%

Friday, 6 Jul 2012
Jeff Cox

The U.S. economy created just 80,000 jobs in June and the unemployment rate held steady at 8.2 percent, reflecting continued slow growth in the economy with the presidential election just four months away.

The Bureau of Labor Statistics said private payrolls increased 84,000, while the government lost 4,000 jobs. Economists expected job growth of about 100,000 and the unemployment rate to be unchanged, though many had increased their forecasts based on some recent indicators.

With yet another month of weak employment growth, the second quarter marks the weakest three-month period in two years. May's weak initial 69,000 report was revised upward to 77,000, which made the June number essentially flat.

There were a few bright spots: The overall work week edged higher by 0.1 hour to 34.5 hours and average hourly earnings grew 6 cents to $23.50. Also, one of the surveys the government uses to compute the number showed 128,000 more Americans with jobs.

Manufacturing saw 11,000 more jobs, though the bulk of gains continued to come from services, which gained 67,000.

But it was an otherwise dismal report that will up the stakes in the race between President Obama and Republican challenger Mitt Romney.

"There is little hope of an acceleration in the pace of job growth any time soon," said Kathy Bostjancic, director of macroeconomic analysis for The Conference Board. "These conditions are likely to persist at least through the summer and possibly longer."

A measure of unemployment that includes discouraged workers ticked higher to 14.9 percent, its highest level since February, while the labor force participation rate stayed near a 30-year low at 63.8 percent.

Unemployment for blacks surged to 14.4 percent — the highest level of 2012 and up from 13.6 percent in May — while the 11.0 percent rate for Latinos was unchanged over May but also at a high for the year.

The unemployment rate is the most closely watched indicator as to whether the Federal Reserve will step in with additional monetary easing.

Recent economic indicators have painted a fairly gloomy picture, with Institute of Supply Management numbers indicating a contraction, though factory orders have jumped and Thursday's ADP private payrolls report was better than expected.

Last month's anemic jobs growth of 69,000 and the rise of the unemployment rate to 8.2 percent sent off a wave of speculation that the central bank would initiate a third round of quantitative easing .

The program entails the Fed buying Treasurys and other debt in an effort to provide liquidity, drive down interest rates and boost risk assets like stocks. At its meeting last month, the Fed decided to extend its Operation Twist program, in which it buys longer-dated securities and sells an equal amount of shorter-term debt.

That differs from QE in that it does not expand the Fed's $2.8 trillion balance sheet.

© 2012 CNBC.com

:jets17

And with the Obamacare ruling, who thinks new jobs are going to be created? Most CEOs will be holding at best - many cutting jobs. That's not a surprise.
Black unemployment rate over 14%? No problem. It could be 34% and that voter segment would still love Obama. They will get taken care of one way or another.

my brother is an anasthesiologist who runs a pain mgmt practice...he is swamped & has 8 full-time employees. He said he can't hire anyone else (he could use a full time dr, 2 admins & 2 nurses) until he finds out what the healthcare bill will cost him...it very well may not be worth it. There is a 3 month wait to see him. This is a very real example of Obamacare phuking up a small business (or at least keeping it from growing to meet demand).

Obama has to be stopped- he is trying to crush American ideals & values to take care of his "people"...

Just what does this mean?

Just who are 'his people'?

I'll will answer post #4 and take the liberty of trying post #5.
Taken care of means welfare, affirmative action, jobs programs, free lunches, relaxing drug laws, college loans for non qulaified students, free health care for those unable and unwilling to pay and generally being "handled".
"His people" are the same as eric Holder's - the black community. FACT. Perhaps those spearheaded by the New Black Panthers. A fine group.

His people are a combination of one issue voters like environmentalists, gay rights activists, pro-illegal immigration people, pro public sector union people and mainly the folks that want to live off the government rather then work hard to get ahead.

the 49% of his "people" who don't pay taxes...who suck off the govt nipple for everything

This is the general sentiment....
 

Once again, how about using some factual data and not the FOX rhetoric?


http://virginiavirtucon.wordpress.co...yea-i-said-it/


http://www.youtube.com/watch?feature...&v=VFV3wuP7obI

http://www.theblaze.com/stories/pbs-...-black-people/

Obama would have been better off if he had waited until his second term when it comes to national health care (insurance).

And Obama would have been much better off had the Supreme Court tossed out Obamacare. Now Obama is stuck with this bureaucratic fustercluck that employers don't know what to do with - so they don't hire.

:jets17

there is no defense of these jobs #'s this morning...none. Obama's economist, Krueger, just said on cnbc that the US consumer has lost confidence due to problems in Europe..he then said Congress has failed to invest in infrastructure & failed to fund states so they can hire more teachers & firemen..he was shaking as he was speaking- it's a total phuking joke, this administration. The reporter from cnbc then said- "so you are basically saying that there's nothing that can be done to help the jobs picture in the US..that essentially Congress has to invest in infrestructure"? He then pointed out that we've had 28 straight months of jobs growth. It made me want to sell everything & buy gold. They are phuking incompetents

Job Number is meaningless.

The Unemployment Rate being reported didn't change a single % point.

And the news (on at least three different places this morning) never got to the actual number, but instead went into great detail about how existing workers feel more secure and have higher hopes for added benefits, like casual Fridays.

Your average listener will never know the actual jobs number is so poor. Much less why it's so poor or whom to hold responsible.

I'm shocked he's swamped with people who want drugs for pain.

So I'm assuming if we have a good jobs report in October all you conservatives are going to be voting for Obama?

The stats have to be wrong -4k govt jobs? Hard to run a socialist country without the govt worker! ;)

Obungler's palace guards in the criminal liberal media are covering his azz....

How many were State/Local?

How many were Federal?

I'd theorize that of that 4,000, the vast majority were at the State and Local level.

In which case thats exactly what one would expect from a Command/Control Central Power, a weakening of State/Local governance, a non-reduction in Federal.

Although obviously it's far more complicated that just that, tbqh.

And Romney hasn't even started on the astronomical Obama defecit yet. To me, the defecit is THE biggest ecomonic problem right now.

And Obama has no response to why the deficit exploded since January 2009.

:jets17

& CR deflects & changes the subject....again!

If it stays flat lined for the next three months and rises a bit in October, that wouldn't make me feel any more optimistic...

He's had years to correct it. One month won't change a thing.