Gloomy jobs report shadows Obummer

Discussion in 'Economy' started by Nova78, Sep 7, 2012.

  1. Nova78
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    Nova78 Silver Member

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    Gloomy jobs report shadows race with 60 days left | General Headlines | Comcast

    A dismal new snapshot of jobs in America shadowed the presidential campaign on Friday, testing the voter patience that will save or sink President Barack Obama's re-election bid. Seizing on the timing, Republican Mitt Romney said Obama's convention party had given way to quite a "hangover."

    Employers added just 96,000 jobs in August, not nearly enough to seriously dent unemployment, let alone inspire confidence that the economy is getting better. Even the good news — the unemployment rate dropped from 8.3 percent to 8.1 percent — resulted from many job-hunters just giving up.

    "We're going in the wrong direction," Romney declared, a view echoed by a majority of Americans still reeling from a massive recession.

    Idiot in charge did not get it done,send him packing,all he did was bankrupt the Country,and increase the welfare rolls...

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  2. expat_panama
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    expat_panama Silver Member

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    That's only the payroll jobs.

    When we add in all the self employed, supervisors, etc. then we got August showing that 119,000 lost their jobs. The reason that gave us a drop in the rate was because August also saw 581,000 fewer people in the shrinking workforce.
    [​IMG]
    A non-shrink workforce puts unemployment at 11.2%
     

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