Where Are The Jobs Obama Promised??

[privateinvestor]

Washington, DC) -- The nation's unemployment rate is down to 9-percent.

The reading for January was nearly half a percent lower than the jobless rate in December.

The Labor Department's latest report shows 36,000 jobs were added to the nation's economy.

The number of unemployed people decreased by about 600,000 in January to 13.9-million.

More than six-million in that group have been unemployed for more than half a year.
The Labor Department report also reveals that 49,000 jobs were added in the manufacturing sector.

The number of retail jobs grew by 28,000, but the construction and transportation sectors reported steep losses.


(Copyright 2011 by VERTEXNews/Newsroom Solutions)



But the Liberal Media blames the weather, and is boasting that this is good news since the overall rate of unemployment fell from 9.4% to 9.0% but neglected to mention the real % is @ 17%


U.S. Jobless Rate Falls to 9% in January; Payrolls Rise 36,000
By Shobhana Chandra - Feb 4, 2011 The U.S. jobless rate unexpectedly fell in January to the lowest level since April 2009, while payrolls rose less than forecast, depressed by winter storms.

Unemployment declined to 9 percent last month from 9.4 percent in December, the Labor Department said today in Washington. Employment rose by 36,000 workers, the smallest gain in four months, after a 121,000 rise in December that was larger than initially reported. Payrolls were projected to climb 146,000, according to the median forecast in a Bloomberg News survey.

“Snow suppressed payrolls but look past it and the labor market is clearly improving,” said Ward McCarthy, chief financial economist at Jefferies & Co. in New York. McCarthy projected an 85,000 gain in January employment.

Payrolls in construction and transportation, industries most affected by bad weather, dropped in January, while factory employment rose the most since August 1998. Federal Reserve Chairman Ben S. Bernanke is among policy makers still concerned the pickup in growth is failing to revive the labor market quickly, one reason why the Fed said it will continue a plan to add another $600 billion into the economy.

Stock-index futures maintained gains and Treasuries fell after the report. The contract on the Standard & Poor’s 500 Index expiring in March rose 0.1 percent to 1,304.5 at 8:42 a.m. in New York. The yield on the 10-year Treasury note, which moves inversely to price, climbed to 3.6 percent from 3.55 percent late yesterday.

Companies like Ford Motor Co. and Emerson Electric Co. are hiring as consumer spending, business investment and exports climb, signaling the expansion is gaining momentum.

‘Right Direction’

“We’re moving in the right direction, though payrolls are still at extremely low levels,” Omair Sharif, an economist at RBS Securities Inc. in Stamford, Connecticut, said before the report. “We’re just digging ourselves out of a real big hole and it’s going to take time.”

Payroll estimates in the Bloomberg survey of 85 economists ranged from a decline of 5,000 to a gain of 230,000. December employment was revised up from a previously reported gain of 103,000, while November payrolls increased 93,000 after an initially reported 71,000 rise.

The unemployment rate was projected to rise to 9.5 percent, according to the survey median. Estimates ranged from 9.2 percent to 9.6 percent. The jobless rate declined as the number of unemployed fell by 590,000. A 162,000 drop in the size of the labor force also helped push down the rate.

Manufacturing Jobs

Private hiring, which excludes government agencies, rose 50,000 in January. Factory payrolls increased by 49,000 in January, exceeding the survey forecast of a 10,000 gain.

Employment at service-providers rose 18,000. Construction payrolls dropped 32,000 and transportation and warehousing jobs fell by 38,000. Retail trade employment rose 27,500.

A storm that spread from the Midwest and the South to New England during the week covered by the Labor Department’s employer survey likely depressed January numbers as businesses temporarily closed.

Bad weather prevented 886,000 Americans from going to work in the January survey week, the Labor Department’s survey of households showed today. That compares with an average of 282,000 over the previous five Januarys. Economists at Morgan Stanley said before the report a figure around 475,000 would be consistent with about a 50,000 reduction in overall payrolls.

Government payrolls decreased by 14,000. State and local governments reduced employment by 12,000, while the federal government trimmed 2,000 workers.

Earnings, Hours

Average hourly earnings rose to $22.86 from $22.78 in the prior month, today’s report showed.

The average work week for all workers fell to 34.2 hours, from 34.3 hours the prior month.

The so-called underemployment rate -- which includes part- time workers who’d prefer a full-time position and people who want work but have given up looking -- decreased to 16.1 percent from 16.7 percent.

The report also showed an decrease in long-term unemployed Americans. The number of people unemployed for 27 weeks or more decreased as a percentage of all jobless, to 43.8 percent from 44.3 percent.

With today’s report, the government issued revisions to payroll figures going back to 2006. It also announced the annual benchmark update, which aligns the data with corporate tax records and covers the period from April 2009 to March 2010. The Labor Department had estimated in October that payrolls for the 12 months would be cut by 366,000.

Last Year

The revisions showed the economy lost 8.75 million jobs as a result of the recession. For all of 2010, the U.S. added about 909,000 jobs. Economists surveyed by Bloomberg in January projected unemployment will average more than 9 percent this year.

“Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established,” Fed Chairman Ben S. Bernanke said yesterday in a speech at the National Press Club in Washington. “It will be several years before the unemployment rate has returned to a more normal level.”

Economic growth accelerated to a 3.2 percent annual rate in the fourth quarter of 2010 as consumer spending climbed by the most in more than four years. Emerson, the maker of data-center equipment and thermostats, plans to boost global employment this year by about 7,000 workers to meet rising sales.

“We are planning a very strong 2011,” Chief Executive Officer David Farr said on a Feb. 1 conference call with investors. “There’s definitely a point in time that we’re going to have to start bringing people in.”

Lowe’s and Ford

Lowe’s Cos., the second-biggest U.S. home-improvement retailer, plans to add 8,000 to 10,000 weekend sales positions to improve staffing at the busiest time of the week. The Mooresville, North Carolina-based chain also will cut 1,700 middle-management jobs as profit growth trails that of larger rival Home Depot Inc.

The two largest U.S. automakers are expanding. Dearborn, Michigan-based Ford plans to hire more than 7,000 workers in the next two years. Larger rival General Motors Co., based in Detroit, will add a third shift and about 750 jobs to its assembly plant in Flint, Michigan. To contact the reporter on this story: Shobhana Chandra in Washington at [e-mail]

To contact the editor responsible for this story: Christopher Wellisz at [e-mail]
.

[Savoir Faire-Demogague in NJ]

I am certain I heard on the PBS News Hour the other night they expected the unemployment rate to inch up .1%, to something like 9.4%.

[privateinvestor]

Not to worry these numbers will be changed again in @ 30 days, and most on Wall and Broad St do NOT believe this unemployment data which is being manipulated to look better than it is for political reasons

[deziloooooo]

Feb 4, 2011 9:20:54 GMT -5 @privateinvestor said:

Not to worry these numbers will be changed again in @ 30 days, and most on Wall and Broad St do NOT believe this unemployment data which is being manipulated to look better than it is for political reasons

Possible a conspiracy...or just as probable, not...why not accept the figures as a plus...about time, and when you consider that the temp workers hired for Christmas employment are now gone, AND the absolute miserable weather which has o be affecting hiring, jobs in construction...it's not a plus Obama negative Obama thing..except for those who need to seek help for their paranoia..it's a great thing for America..Americans are getting jobs...forget Obama , the pubs, the Dem's, the Tea Party..Communist, Socialist, some of your neighbors who have been out of work and in trouble are finding work..be thankful and happy for them.
If some of you here are among them, good for you, I am so glad to hear that and good luck.

[Deleted]

Some recessions we come out of fast & some we come out of slow. This is a slow one. Not President Obama's fault. Housing mess, tight money - for a while, bad weather, it all adds to the problem.

[Deleted]

Good one, Snerdley.

[fairlycrazy23]

Feb 4, 2011 10:39:06 GMT -5 Lady Gaga Gaga Snerd said:

They are right in front of you. But, they are invisible and you simply are not smart enough to see them.

They were supposed to be green not invisible.

[ed1066]

AND the absolute miserable weather which has o be affecting hiring

You're right P.I., the liberals are blaming the weather. Anything to avoid facing the fact that The One is a complete and dismal failure, I guess...next they'll blame the economy on global warming...oh, wait, they've already done that, too...LOL!

[billisonboard]

Feb 4, 2011 10:39:06 GMT -5 Lady Gaga Gaga Snerd said:

They are right in front of you. But, they are invisible and you simply are not smart enough to see them.

Please clarify. I am unclear on who "They" and "you" are in this reply. The use of pronouns without nouns preceding them is problematical at best.

[Savoir Faire-Demogague in NJ]

Can we really lay blame to the prez? Hasn't it been more a radical House and Senate since Jan 2007?

[billisonboard]

Feb 4, 2011 11:55:18 GMT -5 Savoir Faire-Demogague in NJ said:

Can we really lay blame to the prez? ...

Heck, it is practically Un'merican to not blame the president.

[deziloooooo]

Actually a spokesman for labor department or some such agency , kind of missed exactly which one it was, was just on the tube and mentioned a lot more aggressive actions will be needed to get our unemployment down to what is considered acceptable rates , since a .2 % drop every month..it would take till 2016 to get those rates to the acceptable rates..that is scary.

[fairlycrazy23]

Myth of green jobs (myth being that green jobs can both save the economy and the environment)

[Savoir Faire-Demogague in NJ]

So, when something good or bad happens it really has nothing to do with the Prez? But, people want to run and enter the highest and most responsible position but nothing to do with anything?

Well Sen. Reid, and Rep Pelosi were essentially running the show for the last four years.
In Bush's term, we had 54 consecutive quarters of job growth, a strong economy, and a rising equities markets. But the pubs controlled the show.
Very little the dems in Congress have done was positive for anything.

[verrip1]

Well, Obama is following the lead of FDR in using government spending to try to get out of recession. It didn't work from 1932 to 1941, and it's not working now. Obama's spending policies, apparently all speed ahead per his SOTU speech, are a direct cause of this extended high unemployment. Obama has found a way to screw both himself and us at the same time. Novel, yet hardly advantageous.

No, it's not Obama's fault because he is occupying the big chair. It's his fault because of his lousy fiscal policies.

[Savoir Faire-Demogague in NJ]

Oh, yeah, Sweetnepenthe... the biggest flirt on the forums. I do not know. I should email her. MinnesotaGovGuy is not here either. The guy was very knowledgeable and a good contributor. I emailed him yesterday Investor-Bob is another one.

[deziloooooo]

Feb 4, 2011 12:05:52 GMT -5 Savoir Faire-Demogague in NJ said:

So, when something good or bad happens it really has nothing to do with the Prez? But, people want to run and enter the highest and most responsible position but nothing to do with anything?

Well Sen. Reid, and Rep Pelosi were essentially running the show for the last four years.
In Bush's term, we had 54 consecutive quarters of job growth, a strong economy, and a rising equities markets. But the pubs controlled the show.
Very little the dems in Congress have done was positive for anything.

Two years , Bush had a veto..he used it the last two years of his Presidency..not the previouse six...when Obama took office the collapse was under way...thus the stimulus, GM bail out, Tarp{started under Bush, continued by Obama and Democrats}

[Savoir Faire-Demogague in NJ]

Two years , Bush had a veto..he used it the last two years of his Presidency..not the previouse six...when Obama took office the collapse was under way...thus the stimulus, GM bail out, Tarp{started under Bush, continued by Obama and Democrats}

Thank God Bush used the veto. We'd be in much worse shape.
Many of his vetos were over ridden.
The credit card legislation passed two years ago virtually wiped out all consumer credit. Something, the observant of us pointed out.

[fairlycrazy23]

I try to not say this administration or that administration, because both parties are pretty much the same it is just a matter of degree. But Bush in particular was certainly a big government Republican, big government = job killer

[Savoir Faire-Demogague in NJ]

But Bush in particular was certainly a big government Republican, big government = job killer

Yet, we had 54 consecutive quarters of job growth.

[safeharbor37]

Had Bush II used his veto pin early and appropriately, the current crisis which began during the last two years of his Administration might have been avoided or at least ameliorated. There were those of us who complained all during his fist Administration [to no avail]. The developing housing crisis was obvious to many and it was pointed out, but the apparent [false] prosperity based on debt and deficit spending acted as a narcotic to prevent any effective protest. Obama's responsibility started when he took office and, unfortunately, he simply continued the most egregious practices of the neo-cons who preceded him. Just don't blame this on "conservatism" which hasn't been practiced to any degree since 1988 [except for a short time to a limited degree following 1994].
Given the "liberal" emphasis on "green" and "green jobs," etc. I thought I'd mention that the fourth horse of the Apocalypse while usually referred to as "gray" or "pale," is actually "green."

"7And when he had opened the fourth seal, I heard the voice of the fourth beast say, Come and see. 8And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth." (Revelation 6:7-8)



The word "pale" in verse 8 above was translated from the Greek word chloros, which literally means "green" and is the word from which "chlorophyll" is derived. This word only appears 4 times in the New Testament: in Mark 6:39 and in Revelation 6:8, 8:7, and 9:4. In its three other appearances, chloros is translated as "green".

shamah-elim.info/preparu5.htm

[floridayankee]

Feb 4, 2011 11:55:18 GMT -5 Savoir Faire-Demogague in NJ said:

Can we really lay blame to the prez? Hasn't it been more a radical House and Senate since Jan 2007?

Turnabout is fair play, is it not? I mean...every time a cow in Iowa farted, Bush got blamed.

The credit card legislation passed two years ago virtually wiped out all consumer credit. Something, the observant of us pointed out.

Bullshizit. It wiped out consumer credit for the irresponsible....as it should be. At last check, DW and I still have credit scores in the high 700's and still have plenty of credit, despite about a half dozen cc accounts closed due to inactivity and a couple closed by us due to the institution of an annual fee. Surprisingly, we also still have our HELOC open and available despite being about $40k upside-down.

[billisonboard]

Feb 4, 2011 12:01:10 GMT -5 Lady Gaga Gaga Snerd said:

Feb 4, 2011 11:55:16 GMT -5 billisonboard said:

Please clarify. I am unclear on who "They" and "you" are in this reply. The use of pronouns without nouns preceding them is problematical at best.

They are the you and they that you and they think they are.

Thanks.

[Shirina]

Why is it the conservatives whine incessantly about "too much government," yet expects the government to fix the unemployment issue? There really isn't much the government can do to create jobs aside from creating them itself, and we all know how much conservatives love government jobs.

Instead of looking at Obama, why not start asking the private sector why they aren't hiring? In fact, why are businesses laying off workers while reporting record profits? Perhaps you should be looking at the shareholders for the answer.

I find it mildly ironic that the conservatives want government to stay out of the health care business (i.e. don't even try to fix the abysmal system we have now), but they damn well better fix unemployment.

How does this strange dichotomy work, anyway?

[fairlycrazy23]

I don't think very many conservatives think the government is going to fix unemployment, just the opposite, get government out of the way and the economy will fix itself.

Why isn't the private sector hiring, because of a lot of uncertainty brought on my Government.

[burnsattornincan]

why not start asking the private sector why they aren't hiring?

I think they have been asked and the answer was high payroll taxes (fica ect.), affirmative action, excessive pay and benefits due to unions, onerous paperwork to name a few.

There really isn't much the government can do to create jobs aside from creating them itself

Are you serious? How about eliminating the job killing government imposed laws listed above. They are the problem and they can do everything to fix it. That would be to simply disappear.

[ugonow]

I agree,Mr.Burns.It all came to a halt when Obama instituted all the above.

[ugonow]

On the bright side,hiring showed a huge uptic in response to the taxcuts being extended,just as promised.

[fairlycrazy23]

How can government increase jobs, first they must accept that they can not create jobs, second they need to make the country a more business friendly environment, then business can expand and jobs would follow.
Tax credits, subsidies, tax penalties, bailouts, stimulus these all distort the market and force resource to places that are not really in demand, look at the housing market, government intervention caused an artificial demand in housing, one that could not be sustained.

[handyman2]

The only jobs that the government can create are federal positions. Would be nice if all politicians were required to take a business 101 course before taking an office.
Obama's plan for creating more jobs is to throw money out there and hope it takes root. Does not work that way.