We are not heading in the right direction. Supporters of President Obama’s economic policies have been brainwashed, and the brainwashing started YEARS ago when they were told … the federal government is here to help you. The most terrifying eight words you can string together.
From the Bureau of Labor Statistics report released this morning.
Nonfarm payroll employment continued to edge up in June (+80,000), and the unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Professional and business services added jobs, and employment in other major industries changed little over the month.
Among the major worker groups, the unemployment rate for blacks (14.4 percent) edged up over the month, while the rates for adult men (7.8 percent), adult women (7.4 percent), teenagers (23.7 percent), whites (7.4 percent), and Hispanics (11.0 percent) showed little or no change. The jobless rate for Asians was 6.3 percent in June (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)
Ed Morrissey at Hot Air reminds us we’re not even keeping pace with population growth let alone growing the economy.
This is only a bare improvement over last month’s report, with its addition of 77,000, an upward revision from the report a month ago, which had May at 69,000. The average monthly job growth has been 75,000 over the last three months — when we need 125K-150K to keep up with population growth. It’s a measure that shows us going backwards … again.
Looking back at the revised figures for April and May, gives the Obama administration a mixed bag. From Breitbart, with my emphasis in bold.
BLS revised May’s jobs’ numbers up from 69k to 77k, taking away the spin that today’s report was at least an improvement over May. BLS also revised April’s numbers down, from 77K to 68K, meaning the the fall-off after the 1st Quarter was much steeper than originally thought.
Manufacturing continues to be somewhat positive, but it’s not enough, and is not trending up.
Employment in manufacturing continued to edge up in June (+11,000). Growth in the second quarter averaged 10,000 per month, compared with an average of 41,000 per month during the first quarter. In June, employment increased in motor vehicles and parts (+7,000) and in fabricated metal products (+5,000).