> Obama Regime Report < Obama Regime Report: Employers slash jobs in Dec, Putting More Heat on Obama - (Where's The Beef, Since We Know Where The Bull Is?!)

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Friday, January 8, 2010

Employers slash jobs in Dec, Putting More Heat on Obama - (Where's The Beef, Since We Know Where The Bull Is?!)

"If we pass this stimulus bill, unemployment will never reach over 8%"   Obama Fall 2009

Employers slash jobs in Dec, pressuring Obama

Yahoo! Finance: "WASHINGTON (Reuters) - U.S. employers cut 85,000 jobs in December, confounding expectations the labor market was finally stabilizing and piling pressure on President Barack Obama to spur job growth.

The jobless rate held steady at 10 percent, the Labor Department said on Friday, but it would have marched higher if a surprisingly large number of discouraged jobseekers had not left the labor force.

November payrolls were revised to show the economy actually added 4,000 jobs rather than losing 11,000, as initially reported, breaking a streak of 22 consecutive monthly losses. With revisions to October, however, the economy lost 1,000 more jobs than previously estimated over those two months.

Unemployment remains the Achilles heel of the economy's recovery from its worst recession in 70 years, with job creation critical to sustaining the recovery when government stimulus fades.

'The jobs numbers ... are a reminder that the road to recovery is never straight. What this underscores, though, is that we have to continue to explore every avenue to accelerate the return to hiring,' Obama said, announcing new investments in clean energy.

Economists had expected a flat reading for payrolls, with the unemployment rate ticking up to 10.1 percent."
Remember this?

 Worse than both "with or without" the so called "stimulus" which in light of it's ineffectiveness should simply be canceled out,  since it was all backloaded so the benefits if any hit during the 2010-12 election cycle for the dems.

However, because they so severely misjudged the state of the economy to begin with and even admitted as much, everything was thrown "off kilter" per se,  making the "porkulus ineffectiveness" even more noticeable than it would have been were they correct in their initial assessment.


The urge to save humanity is always a false front for the urge to rule it. H. L. Mencken

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