The United States added ZERO jobs in August 2011, Save Jerseyans.
This is very bad news for the country. It’s even worse news for President Obama. That’s because our nation will inevitably recover (at some point). Whether this President manages to rescue his approval rating by next year is much less certain.
But there is at least a little levity to be found in any crisis, right? You’ll recall our recent coverage of striking Verizon union workers who have behaved like children, refusing to negotiate in good faith with their adversaries and, in a move even more mind blowing, have been encouraged by their leaders to sabotage vital infrastructure!
The funny part? This labor union also made the job picture appear even worse than it actually is for their embattled union-friendly POTUS:
In August, if you factor out the job cuts by local, state, and federal governments, then the private sector – excluding farmers – added a meager 17,000 jobs in August. It is generally agreed that the US economy needs to add around 200,000 jobs per month to just keep pace with population growth, and it would need at least two or three times that rate to make a dent in the pool of 14 million unemployed workers that the government acknowledges exists. And it would need even more than that to find work for those who have fallen out of the statistics altogether because they have stopped looking for work.
After revisions in its employment model, the BLS says that the US economy created 85,000 fewer jobs in June and July, with only 20,000 net new jobs in June (including government workers) and 85,000 in July.
In the information sector, the telecom industry actually cut 3,000 jobs as well as having 45,000 workers on strike at Verizon, to give a total of 814,600 workers getting paychecks last month. Companies that run data processing and hosting businesses cut 600 jobs, to 238,100.
The president needs labor working with him to get re-elected. Another Obama term isn’t possible if they work against him, even if it is unintentional!
I COULD NOT AGREE MORE. IT IS CLEARLY OBAMAS FAULT WE ARE IN THIS MESS. REPULICANS MUST — USE TACTICS LIKE HOLDING THE ECONOMY HOSTAGE, AND ACCEPTING NO COMPROMISE TO TURN THIS SHIP AROUND.KEEP UP THE GREAT WORK. YOU AND JAMES BEATTIE ARE THE FUTURE OF JERSEY REPULICANS
-BEAUFORD COLE