It’s early September andthe Friday before Labor Day weekend, thus officially ending Joe Biden’s Recovery Summer. The results of this much hyped turnaround shows that It should have been called Wreckovery Summer due to the damage Obama’s Progressive policies have done. The much hyped and heralded Obama Boom has proved to be a mirage and a lie invented by the media. As a result, the American people have turned against the Progressive establishment and are set to deliver a massive blow on November 2nd.
WASHINGTON — Job losses continued to mount in the U.S. economy last month, though at a more modest pace than expected, putting further pressure on policy makers to take action to spur growth and employment.
Nonfarm payrolls fell by 54,000 last month, matching the level of revised losses recorded the previous month, the U.S. Labor Department said Friday. The revision in July layoffs to 54,000 followed an original estimate of a 131,000 drop in payrolls.
The U.S. economy has shed jobs for three straight months, though the losses in August were about half the 110,000 predicted by economists in a Dow Jones Newswires survey.
The unemployment rate, calculated using a separate household survey, edged up to 9.6%, as expected, after holding at 9.5% for previous two months.
The report is likely to cause renewed debate during the long Labor Day weekend over what new steps the Federal Reserve and Congress should consider to jump-start the job market.
Read the rest: U.S. Economy Lost 54,000 Jobs in August; Unemployment Rate Rises to 9.6%
Americans are suffering from wage stagnation and dim job prospects, yet the Progressive Propaganda media keeps lying. Here is an article claiming that the jobs are numbers are actually good!
“These are very nice numbers for the labor market,” said Kathy Lien, a director of currency research at GFT in New York. “It means for the time being, some of the fears of weakness in the U.S. economy may be misplaced as the data shows the labor market is not as bad as feared.”
[....]
The smaller-than-expected job losses last month lessened fears the economy risked sliding back into recession and eased pressure on the Fed to launch a fresh round of bond buying to keep borrowing costs low.
Can you imagine the media saying this if a Republican was President? When Bush was President and the economy was adding 150,000-200,000 jobs a month, they claimed that was stagnant. Meanwhile jobs losses or anemic private hiring is called a boom! The American people are not being fooled and it will be the Tranzi Totalitarian Progressive Democratic Party who will have to answer to the people. Obama’s policies have failed and no amount of spin can hide this fact.
This was not recovery summer and there is no Obama Boom.
Update: Obama’s Secretary of Labor Hilda Solis claims the Economy is good and that jobs are out there!
The big question: Are things getting better? To answer that, we need to look back more than a year ago, when the economy was losing a staggering 800,000 jobs a month. Our actions, most notably the American Recovery and Reinvestment Act, stopped those losses.
The Recovery Act saved millions of American jobs — keeping health care providers in hospitals, teachers in classrooms, and police and firefighters on the beat. But the benefits weren’t just in the public sector. During the past eight months, the economy has averaged 95,000 new private sector jobs.
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There are jobs out there. And, this Labor Day — and every day — I’m going to continue helping people find them and employers fill them. If you’re ready to embrace a 21st century career, I want you to know your Department of Labor is here to help you. And, if you’re an employer looking to fill positions, we’ve got a list of great candidates for you.
We have always been at war with Eastasia! This is outright 1984 style propaganda that Totalitarian regimes have done. It sounds very reminiscent of the Soviet Union’s declarationsof their economic success. Those were false and this hype over the Obama boom is false.
Update II: The young whom analysts had proclaim as solidly Democratic and would lead to a permanent Leftist majority, has lost faith with Obama. A bad job market has awaken many young people to the economic reality that Progressive policies don’t work.
FORT COLLINS, Colo. — The college vote is up for grabs this year — to an extent that would have seemed unlikely two years ago, when a generation of young people seemed to swoon over Barack Obama
Though many students are liberals on social issues, the economic reality of a weak job market has taken a toll on their loyalties: far fewer 18- to 29-year-olds now identify themselves as Democrats compared with 2008.
“Is the recession, which is hitting young people very hard, doing lasting or permanent damage to what looked like a good Democratic advantage with this age group?” asked Scott Keeter, the director of survey research at the Pew Research Center, a nonpartisan group. “The jury is still out.”
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“There’s a vibe,” he said on a recent afternoon, while pumping weights at the gym. “Right now it seems like Republicans just care a lot more than Democrats.”
The Republicans have an opportunity to win over younger voters. Republicans such as Paul Ryan and Eric Cantor can appeal to the youth. The Republicans need to focus on the economy to seal the deal with these voters.
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