Friday, February 1, 2013

Unemployment 7.9% and Climbing. Blame Obama

(CNBC)The new year started off with an old story: Employment grew again in January but not at a pace able to lower the jobless rate.

Nonfarm payrolls rose 157,000 for the first month of 2013 while the unemployment rate edged higher to 7.9 percent, news unlikely to alter the Federal Reserve's monetary policy or instill confidence that the recovery is gaining steam.

Economists were looking for 160,000 net new jobs created with the unemployment rate holding steady at 7.8 percent.

However, a separate unemployment measure that also takes into account those who have quit looking for jobs as well as those working part-time for economic reasons remained unchanged at 14.4 percent.

Another key data point, the average work week, also was unchanged at 34.4 hours, while wages rose 4 cents an hour to $23,78, representing a 2.1 percent gain over the past year.

This is your reality. True unemployment is 14.4%. To those in denial, unemployment is rising. It is now 7.9%. The economic pundits, who supports Obama, will say wages went up. However, these morons forget to tell you average work week has dropped. It means decrease hours of work and a meager increase in wage is a wash. It means less productivity. It is called fudging the numbers. I am not surprise by the data. Just recently, Obama disband the Jobs Council Committee because of the obvious. You voted for Obama. This is the consequences for your stupidity!