Presidential Leak Lacked Honesty

in Job
When President Obama leaked jobs reports data to his supporters earlier this year,the details of the report were far less optimistic than the picture Obama painted. The stock market fell sharply on the actual data, currently falling more than 250 points and below the emotionally charge 10,000 mark.

The good news was that the unemployment rate fell from 9.9 to 9.7%. The bad news was that this fall was largely due to two factors, temporary federal government hiring and people giving up their hopes of finding employment.

431,000 jobs were created in May. Most of these jobs were the results of the federal government hiring 411,000 temporary census workers. This massive wave of Federal hiring will begin to taper off this month, but will allow the Obama administration to paint a more optimistic than accurate picture of the American economy for some time to come.

Only 41,000 jobs were created in the private sector in the month of May. This is down from 218,000 in April and is the lower number since January.

322,000 Americans left the labor force in May, reflecting the large number of long-term unemployed who have simply giving up on finding employment. Due to the way that unemployment numbers are calculated, this allowed the Obama administration to claims success by lowering the unemployment rate from 9.9% to 9.7%. Approximately fifteen million Americans are currently looking for a job.

Senate Minority Leader Mitch McConnell (R-KY) expressed opinions held by many Americans when he wrote "The two things that are growing fastest in this Democrat economy are the size of the federal government and the crushing burden of the national debt. When America truly begins creating jobs that help our economy grow, it will be despite our government, not because of it. Although Americans appreciate a job of any kind these days, temporary government Census jobs are the not kind of employment that will help kick-start and sustain our economy," he said.

Representative Dave Camp (R-MI) added "This is not good news. Without temporary census hirings, there were virtually no jobs created last month and it appears many Americans have again given up looking for a job. It is clear the so-called jobs agenda of Democrats in Washington has failed to stimulate anything other than more debt."
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Brian Jones has 1 articles online

Brian Jones writes for Applying for Unemployment Benefits and Claim Unemployment.

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Presidential Leak Lacked Honesty

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This article was published on 2010/11/29