Friday, August 6, 2010

Bad job numbers, bad unemployment numbers, bad all around

Again, November is about JOBS, this ECONOMY. The White House finally figuring this out is a tad too late on this. As long as people are unemployed, foreclosures at record highs, consumer confidence is low, this is going to continue for some time.

And that is why it will be tough for Democrats in November when the public has disdain for BOTH, Democrats and Republicans. The election of us vs. them with the public hating both.

Oh, those census jobs that bloated the REAL NUMBERS? Those jobs are done and the fallout is what we see, a weak job market as many said from the very beginning.

Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year.

Private employers added a net total of only 71,000 jobs last month, according to the Labor Department's July report Friday. That number was far below the roughly 200,000 needed each month to reduce the unemployment rate. The unemployment rate for July was unchanged at 9.5 percent.

The modest job gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census positions. Factoring those in the net gain was only 12,000 jobs.

“The good news here is we are not falling off a cliff; we are getting job growth,” Mark Zandi, chief economist at Moody’s, told CNBC Friday. “But obviously this is not enough. If we don’t see better job growth later this year and next the recovery is in jeopardy.”

The government sharply revised down its jobs figures for June, saying businesses hired fewer workers than previously estimated. June's private-sector job gains were lowered to 31,000 from 83,000. May's were raised slightly to show 51,000 net new jobs, from 33,000.

Overall, the economy lost a net total of 131,000 jobs last month, mostly because 143,000 temporary census jobs ended.


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Thursday, August 5, 2010

President Obama's remarks to the AFL-CIO Executive Council Meeting

President Obama speaks to the AFL-CIO Executive Council Meeting about the need to pursue bold, new options for the economy rather than fall back to failed policies of the past. August 4, 2010.

A couple of thoughts. First, President Obama hardly mentions the health care law which was supposed to be signature for the Democrats this fall, but in quite a few states more of a hindrance than help. Next, it was confirmed by Richard Trumka, President of the AFL-CIO that the negative language coming from the White House after the Blanche Lincoln win and the anger it caused for Union members and progressives the supposedly person(s) apologized.

The AFL-CIO chief already caused a stir in the 2010 election season when he put the union's resources behind a primary challenge to Senator Blanche Lincoln (D-Ark.). Lincoln ultimately won the nomination in a runoff election sparking a heated bit of anonymous sniping from White House officials. Trumka stressed that President Obama never talked him out of backing Lt. Gov. Bill Halter in that race. As for the nameless administration aides, he said: "The anonymous sources have [apologized]."

Lastly, the AFL-CIO from their stance will not protect many Blue Dog Democrats based on their voting records for the mid term elections in November. And that is less money in November and up to the DCCC and DSCC to protect those particular congress critters. Good luck on that one.


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Wednesday, August 4, 2010

President Obama meets with Young African Leaders


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Tuesday, August 3, 2010

Obama's Speech on leaving Iraq in Georgia, August 2, 2010


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