Saturday, April 6, 2013

Op-ed:                                                                                         Numbers NOT to make anyone happy
By: Diane Sori

 
Yesterday the newest jobs numbers were released and these less than stellar numbers are NOT good...NOT good at all NO matter how Obama and his minions try to twist the numbers...numbers which showed only a disappointing 88,000 jobs being created in March, fewer than half of what economists had forecast and the lowest since last June. With February showing 268,000 jobs created these March numbers show one hell of a drop and signal what many of us have know all along...there is NO true economic recovery going on under this president's misguided economic policies.

Being this is the third spring in a row in which employers slowed down on hiring, even if you take into consideration seasonal factors, this is an in your face hiring slowdown that possibly could continue for months, lasting right up to the usual job slowdown of the summer months. And while the unemployment rate technically did drop to 7.6% from 7.7% that's NO reason to celebrate, because 496,000 Americans simply dropped out of the labor force completely by simply stopping working, stopping looking for work, or NOT receiving any more unemployment benefits. And these factors drove the percentage of Americans in the workforce down from 65.5% to 65.3%...the lowest since 1979...the Jimmy Carter years.

Economists had hoped that 190,000 jobs would be created in March but they weren't. Bottom line...the newest numbers are bad, very bad. And before the msm starts trying to tie yesterday’s dismal report to the sequester spending cuts that went into effect on March 1st, it’s important to remember that the federal government added 9,000 new jobs, post-sequestration....meaning government bureaucracy grew while the private sector again limped along contrary to Obama's bloviations to the contrary.

The reality is that even while the unemployment rate declined those NOT in the labor force grew by over 660,000, with the total civilian non-institutional population growing by just 167,000 to 244,995, meaning the actual labor force declined by 496,000. In fact, a 4% difference between the reported unemployment rate of 7.6%, and what the real unemployment rate is, assuming normal growth of the labor force, which in March was 11.6%, this shows that the economy has NOT improved even by one iota since 2009.
 
And here's even more NOT happy news...the number of people on long-term unemployment (those out of work for at least 27 weeks) in March was about 4.6 million or roughly 39.6% of total unemployment numbers, while part time employment (those working part time because their hours had been cut back or because they were unable to find a full-time job) fell by 350,000 in March to 7.6 million because NO new full-time jobs were available...still too high to signal any kind of economic recovery.

And while a temporary lull in the job market had been expected because of both the sequester and the January 1st payroll tax increase, yesterday's disappointing jobs report does red flag new concerns about the strength of Obama's so-called economic recovery, especially since over the past 12 months hiring had averaged 169,000 new jobs per month NOT like March's miserly 88,000 jobs created.

Now also called into question given how strongly stocks have recently rallied is whether all this has been smoke and mirrors to hide an emerging total economic collapse.

So while Obama and those in his orbit blame the sequester for the newest disappointing jobs numbers, some economists on Obama' team warn that 750,000 fewer jobs will be created because of it. But it's Obama's economic policies themselves that continue to make it harder for Americans to find work, proven by the fact that last month the number of Americans filing jobless claims rose by 28,000 to a four-month high of 385,000.

And the root cause of all these unhappy numbers could very well be none other than ObamaCare itself as both small and large businesses cannot afford to hire more workers because they cannot afford the Obama mandated employee coverage. So a vicious circle has been created of NO jobs, NO prospects, and NO money for the American worker...but the 'sponges' of our society remain happy as NO matter how bad the numbers look for the American labor force the free phones, food stamps, and free medical care at our taxpayer expense will always be had.

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