5.6 Million Jobs Since Pelosi asked, "Where Are the Jobs, Mr. President?"

Discussion in 'Economy' started by -Cp, Aug 4, 2006.

  1. -Cp

    -Cp Senior Member

    Sep 23, 2004
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    Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement today on the Bureau of Labor Statistics' announcement that 470,000 people abandoned their job searches in July and that 3.2 million private sector jobs have been lost since President Bush took office:

    "The fact is that President Bush’s misguided economic policies have failed to create jobs. Since President Bush took office, the country has lost 3.2 million jobs, the worst record since President Hoover. And today we learned that in July nearly half a million people gave up looking for a job.

    "Job losses are taking a real toll on the financial security of American families. While Democrats are fighting for opportunity, jobs, and economic security for working families, Republicans continue to focus on helping those who need help the least.

    "According to today’s survey, while the national unemployment rate dropped slightly, it still stands at a near record high. In addition, the unemployment rate for African Americans was still over 11 percent in July, and the unemployment rate for Hispanics was 8.2 percent in July.

    "It is time for President Bush and the Republicans to get to work for all Americans, not just the elite few."

    In August 2003, the Unemployment Rate was 6.1%.



    Sep.: +98,000
    Oct.: + 202,000
    Nov.: + 79,000
    Dec.: +122,000
    Sep.-Dec.: + 501,000


    Jan.: + 122,000
    Feb.: + 55,000
    Mar.: + 346,000
    Apr.: + 252,000
    May.: + 267,000
    Jun.: + 78,000
    Jul.: + 38,000
    Aug.: + 131,000
    Sep.: + 177,000
    Oct.: + 338,000
    Nov.: + 133,000
    Dec.: + 160,000
    2004: + 2,097,000



    Jan.: + 76,000
    Feb.: + 265,000
    Mar.: + 140,000
    Apr.: + 228,000
    May.: + 106,000
    Jun.: + 166,000
    Jul.: + 241,000
    Aug.: + 175,000
    Sep.: + 48,000
    Oct.: + 37,000
    Nov.: + 354,000
    Dec.: + 145,000
    2005: + 1,981,000



    Jan.: + 154,000
    Feb.: + 200,000
    Mar.: + 175,000
    Apr.: + 112,000
    May: + 100,000
    Jun.: + 124,000
    Jul.: + 113,000
    2006: + 978,000

    Note: In the last several months, data was released that showed revised values for total non-farm payrolls in 2003, 2004 and 2005. These numbers are the most up to date from the Bureau of Labor Statistics.

    Check out these statistics here: http://data.bls.gov/cgi-bin/surveymost?bls

    On this bls.gov website link,

    1) Check the box for Total Nonfarm Employment - Seasonally Adjusted - CES0000000001

    2) Scroll Down to the bottom of the page and Click Retrieve Data

    3) Double-check my numbers posted.
  2. CharlestonChad

    CharlestonChad Baller Deluxe

    Jul 2, 2006
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    Charleston, SC
    That's not even average job growth or unemployment percentages.
  3. Toro

    Toro Diamond Member

    Sep 29, 2005
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    Surfing the Oceans of Liquidity
    Yes but


    Total nonfarm payroll employment numbers (000,000s)

    This recovery has lagged.
  4. theHawk

    theHawk Registered Conservative

    Sep 20, 2005
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    There is nothing anyone can do about people who are too lazy to get a job. And thats mainly what the current unemployment rate reflects.
    You seriously have to be a moron not to be able to get a job today.

    Again, what do dems suggest we do to improve the job rate? I hear nothing as far as new ideas.
  5. Mr.Conley

    Mr.Conley Senior Member

    Jan 20, 2006
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    New Orleans, LA/Cambridge, MA
    The unemployment rate is great. My only concern is that a lot of recent jobs were made in the construction industry, which is really starting to cool. Hopefully that bubble won't collapse though, and then maybe most of the jobs will be kept. Other than that, things are good on the job front.
  6. red states rule

    red states rule Senior Member

    May 30, 2006
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    With the growing economy, come increased revenue to the government. My how the libs run for cover when they are confronted with these facts.....

    The Incredible Shrinking Deficit
    By Tony Crescenzi
    RealMoney.com Contributor

    The outlook for the U.S. budget deficit has brightened considerably, with the deficit for the current fiscal year likely to be substantially lower than what was expected at the start of the year. The improvement is the result of a surge in tax receipts, a development that in many eyes reinforces the notion that tax cuts eventually broaden the tax base, thus boosting tax revenue.

    The falling U.S. budget deficit is freeing up a considerable amount of capital for the private sector, which should help fuel the economic expansion. Moreover, the falling deficit is reducing the reliance the U.S. has on foreign capital, and this at least partly explains this year's rally in the U.S. dollar. Foreign governments, particularly European governments, will have to look in the mirror before repeating their recent criticism of the U.S. budget situation, especially given the worsening of their own budget deficits. The smaller deficit could also boost efforts at reforming Social Security.

    Tax Revenue Surges
    For the current fiscal year, which began last October, the budget deficit looks likely to fall by as much as $100 billion or more, compared to the previous fiscal year, when it reached a record $412 billion. This would be considerably better than the Bush administration's earlier forecast for a widening of the deficit to $427 billion. Already, the nonpartisan Congressional Budget Office, or CBO, has forecast a much lower deficit, saying on May 5 that substantial tax receipts in April had put the deficit at much lower levels than in the same period a year earlier, and that the deficit for the full fiscal year will probably be well below $400 billion, perhaps in the vicinity of $350 billion. New data on tax receipts for May could cause the CBO to further reassess its views. Private forecasts are placing the deficit at $300 billion or lower.

    Driving the improvement in the U.S. budget situation is the surge in income tax receipts. In May, individual income tax receipts were $57.61 billion, an 87.8% increase over the same month a year earlier. In the fiscal year to date, individual income tax receipts are up $103 billion, or 20.5% vs. the same period a year ago. Corporate income tax receipts were up 37.1% in May compared to a year earlier, and for the fiscal year, receipts are up $45 billion, or 47.2% compared to a year ago.

    With the deficit falling, outlays obviously must be growing more slowly than receipts -- and they are: Outlays are up just 7.1% vs. the same period a year earlier, compared to a 15.5% increase for receipts. The Bush administration held the line on discretionary spending in the budget submitted for 2005, and the administration's budget for 2006 is just as tight. This will help keep the favorable budget trend intact.

    A continuation of the recent trend would put the deficit for next year at $250 billion to $275 billion, which would represent a near-halving of the deficit as a percentage of the gross domestic product. Reaching such a target would give a lift to President Bush, who has pledged to cut the deficit in half by 2009.

    For the current fiscal year, a deficit of under $360 billion would put it at just under 3% of GDP, a level widely seen as acceptable throughout the industrialized world, particularly in Europe, where members of the European Monetary Union are required to keep their deficits below 3% of GDP. (Several countries, including Germany, have seen their deficits rise above 3% of GDP and have had to pay hefty fines in accordance with rules regarding the EMU.)

    More Tax Receipts Must Mean More Jobs
    The surge in income tax receipts lends credence to the notion that the recent surge in household employment is signaling more strength in the job market than has been apparent in the monthly payroll survey. As reported in the recent monthly jobs report, household employment increased by 1.3 million workers over the past three months.

    An added reason why income tax receipts have increased more than anticipated is because a larger share of the total income earned in the economy has gone to individuals earning above-average incomes. Specifically, recent data appear to indicate that incomes received by supervisory workers have been increasing at a faster pace than for non-supervisory workers. With more of personal income being received by individuals in relatively higher income brackets, tax receipts have increased.

    For the markets, the brightening of the U.S. budget outlook dulls the alarm being sounded by those who have been harping on the budget situation as a key reason for bearishness on both stock and bond prices as well as the U.S. dollar. The budget news provides new fodder for those who say that tax cuts can actually lead to higher tax revenue. Such has been the case for 25 years, one can reasonably argue. Nevertheless, given the large deficits of the past few years, the debate over the impact of tax cuts on the U.S. budget deficit goes on. Whatever the case, the data sure give President Bush and Treasury Secretary Snow reasons to cheer.

  7. LuvRPgrl

    LuvRPgrl Senior Member

    Aug 11, 2005
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    Did she really make those statements??? If so, her stats are as whacko as she is. Freaking democratic party has gone whacko, totally.


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