Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
America has added 4.2 million private sector jobs since the stimulus.
Heres what Bush left us with.....
Aug 2008 - 334,000 net JOBS LOST
Sep 2008 - 458,000 net JOBS LOST
Oct 2008 - 554,000 net JOBS LOST
Nov 2008 - 728,000 net JOBS LOST
Dec 2008 - 673,000 net JOBS LOST
Jan 2009 - 779,000 net JOBS LOST
America has added 4.2 million private sector jobs since the stimulus.
Heres what Bush left us with.....
Aug 2008 - 334,000 net JOBS LOST
Sep 2008 - 458,000 net JOBS LOST
Oct 2008 - 554,000 net JOBS LOST
Nov 2008 - 728,000 net JOBS LOST
Dec 2008 - 673,000 net JOBS LOST
Jan 2009 - 779,000 net JOBS LOST
The Dow Jones Industrial Average was declining by 158.03 points, 1.23%, at 12,739, and down more than 1% for the week. The S&P 500 was slipping 16.01 points, or 1.17%, at 1352, erasing its gains for the week. The Nasdaq was falling 41.35 points, or 1.44%, at 2933, and flat so far this week. The weakness in stocks was being led by the technology, capital goods, basic materials and energy sectors, with all 10 S&P 500 large-cap sectors sliding.
On the Dow, 28 of 30 blue-chip components were losing ground, led by Alcoa ( AA ), Caterpillar ( CAT ), Hewlett-Packard ( HPQ ) and IBM ( IBM ). McDonald's ( MCD ) was up a bit more than a quarter of a percent and AT&T ( T) was trading sideways. Losers were outpacing winners by a ratio of 3.2-to-1 on the New York Stock and 3.4-to-1 on the Nasdaq. Volume was light, with about 625.11 million shares changing hands on the New York Stock Exchange and 377.13 million on the Nasdaq.
The Labor Department reported that U.S. employers added 80,000 new workers to their payrolls in June, below the consensus estimate of 90,000 jobs, according to a poll of economists by Reuters. It was the third-straight month of sub-100,000 jobs growth. The whisper number among traders was closer to 125,000.
The unemployment rate remained unchanged at 8.2%. Nonfarm payroll employment for April was downwardly revised to 68,000 from 77,000 and the figure was upwardly revised in May to 77,000 from 69,000. In June, average hourly earnings for all employees on private nonfarm payrolls increased by 6 cents to $23.50. The average workweek for all employees on private nonfarm payrolls edged up by 0.1 hours to 34.5 hours. Private payrolls rose by 84,000. It was the worst quarter for job growth in about two years.
MORE
"That's a step in the right direction," Obama told some 350 supporters packed into an elementary school gym. "But we can't be satisfied." Obama spoke just a few hours after the Labor Department reported only 80,000 jobs in June, not enough to keep the economy growing -- a point quickly made by Republican candidate Mitt Romney and other GOP lawmakers. Noting that the unemployment rate remains at 8.2%, Romney blamed Obama economic policies and said: "It doesn't have to be this way. America can do better and this kick in the gut has got to end."
Obama, wrapping up a two-day bus trip of Ohio and Pennsylvania, reminded supporters that he inherited the worst economic recession since the Great Depression. Obama said he knew it would not be easy to rally, but the economy has made "steady progress" on his watch. "It didn't happen overnight," Obama said. "We weren't going to turn it around overnight." Before speaking at the elementary school in Poland, Obama toured the Summer Garden Food Manufacturing plant in nearby Boardman -- and picked up some spaghetti sauce.
From the pool report:
POTUS entered the plant, a large beige building in a suburban office park, and met with Tom Zidian, the company's president and CEO. The plant produces and cans spaghetti sauces. Your pooler spotted a stack of labels bearing the Mario Batali brand. Zidian andPOTUS met first with Summer Garden employees Richard Coradini and Brian Zidian at an assembly line (it was not moving) on which cans of red pasta were arranged -- no labels on the jars but the lids were marked with a Phil Stafani Tuscany brand logo ("tuscanysauce.com for recipes"). ...
As Obama walked onto the factory floor, he asked the Tom Zidian what they were making. "I smell a little oregano around here or something," Obama said. In fact, he was standing next to a vat where they saute the onions and garlic. The fresh produce they use in the pasta sauce here is mostly local, POTUS was told. Obama joked that he wanted some samples of the sauce for his trip to Camp David. "I gotta test it out," he said, as he clapped Coradini.
Source
Meanwhile, 150,000 people simply dropped out of the labor force during the month and did not seek to find a job. In June, according to BLS, there had been 142,415,000 people employed in the United States. In July, that dropped to 142,220,000--a decline of 195,000.
Similarly, in June, there were 155,163,000 people in the civilian labor force in the United States. To be counted in the civilian labor force, person must be 16 years old or older, not be in the military, prison or a mental institution, and either have a job or have actively looked for a job in the past four weeks. In July, the number of people in the civilian labor force was 155,013,000--a decline of 150,000 from June.
The number of people who were unemployed--meaning they were 16 or older, not in the military, a prison or a mental institution, and had actively looked for a job in the last four weeks-jumped by 45,000 during the month, climbing from 12,749,000 in June to 12,794,000 in July. During July, the number of people who simply left the labor force (150,000) exceeded the number of newly unemployed (45,000) by more than two to one (105,000).
Source
By contrast, the number of men who held jobs declined by only 20,000 from June to July, according to BLS. From June to July, the number of women in the labor force--meaning they either had a job or had actively looked for one in the last four weeks--dropped by 94,000.
Meanwhile, the national unemployment rate ticked up for women for the third straight month. In May, it was 7.9 percent. In June, it was 8.0 percent. And in July, it was 8.1 percent. (The unemployment rate for men held steady in May, June and July at 8.4 percent.) In June, there had been 66,929,000 American women employed. In July, that dropped 66,754,000--a month-to-month decline of 175,000.
Similarly, in June, there had been 72,713,000 women in the labor force. In July, that dropped to 72,619,000--a decline of 94,000. In June, there had been 75,486,000 American men employed. In July, that dropped to 75,466,000, a decline of 20,000. In total, there were 195,000 fewer Americans employed in July than in June--with 175,000 of those people being women.
When President Barack Obama took office in January 2009, there were 66,969,000 women employed in the United States. Since then, the number of women employed in this country has dropped to 66,754,000--a decline of 215,000 in the number of women employed. In January 2009, the unemployment rate among women was 7.0 percent compared to the 8.1 percent unemployment rate among American women in July.
Source
On Friday, the U.S. Department of Labor reported that a net 163,000 jobs
were created in July. That number beat the meager expectations, but the report also says the official unemployment rate is up to 8.3 percent and 195,000 fewer people were working than there were the month before. Some 150,000 people left the labor force and are not counted in the official unemployment number.
Rep. Kevin Brady, R-Texas, is chairman of the Joint Economic Committee. He says the numbers are better than the really weak figures in May and June but show no sign of significant growth. My worry is that this is the new normal, were so used to the Obama recovery, that this looks good by comparison, Brady told WND.
Brady also criticizes President Obama for having no new ideas to spur job growth and for bringing back his call for higher taxes on wealthier Americans. Brady says business owners cite federal spending, a weak economy and burdensome regulations as the real reasons they are not hiring. Its the red tape, the talk of taxes, the presidents health-care law really holding this recovery back, said Brady.
Source
