The U.S. economy created only 74,000 jobs in December, according to the government’s statistics – a shockingly low number in light of a recent private sector report showing the creation of more than 238,000 new jobs last month.
Analysts had projected the government report would show the creation of 197,000 new jobs – which constitutes the biggest misreading of this key monthly indicator since December 2009.
Despite this anemic job growth, the nation’s unemployment rate declined from 7.0 to 6.7 percent – although once again it was for all the wrong reasons. According to the U.S. Bureau of Labor Statistics (BLS), a record 91.8 million working age Americans were not part of the nation’s work force last month. That sent the nation’s labor participation rate slipping to 62.8 percent – matching its 2013 low (which itself matched a 35-year-low).
During U.S. President Barack Obama’s first full month of office in February 2009, the labor participation rate stood at 65.8. Assuming that rate as a constant, the real unemployment rate in December would have remained stuck at 11.5 percent.
Again, all of these numbers presume the integrity of the BLS data – which has come under fire in recent months.
“Another half a million people dropped out of the American labor force in December,” said Nathan Mehrens, president of Americans for Limited Government. “You can ignore every other statistic and spin coming out of this Administration about the job market, this is the only data point that matters.”
Indeed …
Mehrens added that “since Obama became president, the number of people who are considered to be in the civilian job eligible population has increased by just shy of eleven million people, but the number of people who have entered the work force has only increased by about 730 thousand people.”
Wow …
In South Carolina, the unemployment rate in November stood at 7.1 percent – however the state’s workforce has shrunk to a record low 58.1 percent of the working age population. December data for the Palmetto State will be released later this month.
To view the December jobs report for yourself, click on the link below …
31 comments
But the drone-Obama liberals will tell you there are 5 jobs for every able American, w/ rising salaries and work aplenty for all the illegals piling across the border in hopes Obama prevails to give them welfare, healthcare, schools and homes…all on your dwindling paycheck, and mounting pink slips..
Yall better wake up…these liberals hate you for breathing if you are not gay, atheist, black, muslim or anti-American…and they want you broke, busted and disgusted…until they figure out you’ve been paying for all their sloth and decadence…
“Sure, cried the tenant men,but it’s our land…We were born on it, and we got killed on it, died on it. Even if it’s no good, it’s still ours….That’s what makes ownership, not a paper with numbers on it.”
“We’re sorry. It’s not us. It’s the monster. The bank isn’t like a man.”
“Yes, but the bank is only made of men.”
“No, you’re wrong there—quite wrong there. The bank is something else than men. It happens that every man in a bank hates what the bank does, and yet the bank does it. The bank is something more than men, I tell you. It’s the monster. Men made it, but they can’t control it.”
? John Steinbeck, The Grapes of Wrath
John Steinbeck is dead, but if you were to learn anything from his words, you’d see that Obama is a greedy and evil monster, w/ nothing to give, but only bitter hatred and self-serving, feeding his lust to rob moral Americans….
But the koch brothers really love us…
When the Koch Bros. get elected president, you may be pertinent…until then STFU….
The’ve thrown more money at politicians than shit flinging apes. So, yeah, that makes them pertiant, Dicknose…
Imagine that, using your own funds to express your political opinion….I think the constitution guarantees that. Obama uses forced taxpayers’ money to get elected….
The people will rule in the future, and people like you will not matter.
How did you ever become a Nazi ? Are you really that stupid ? Morals is all you got ? They went out the window in Irag and Afganistan, get over it ! There are no more morals, People are just trying to make ends meet as you are. Thank Bush and the rich. I was a republican, found out the top 1% runs everything. Republican and Tea party voters are easy prey. It’s 2014-not -1950. The #1 cause of bankrupt americans is medical bills. Do you not get that ?
3/4 of all Afghanistan deaths have come under Obama, who rose to power bashing a war he eventually claimed “victory” for……so you buttress my point…thanks…
There is proberly no help for you. We are in a war, I agree. The war is with the USA top 1%. They are few and have 95% of the money and power. Can you see that ?
By the way, a black man in the service of your country saved my life. For me, Spew all you want.
Are you the Ft. Hood Shooter, and you’re talking about Obama saved your life?
R U That Stupid ?
I could give u a piece of Haley’s turds, and you u love it, and ask for more. U R A worthless Human.
That’s incorrect. The number 1 reason is the governments tax policies. 2 is peoples habits of spending money that is not theirs to spend. Healthcare is way down the list.
SEIG HEIL !!! SEIG HEIL !!!
I will say, hope you never have to experience thier plight. As a Nazi, as you, who cares ? Liberal’s, you are a brain dead freak of nature. Have fun in your world of 1950 ! Peace !
Seems the economy has come back Biggot. Best to move on to your next Obama complaint.
You mist live in China if your economy is coming back…either that or you are way too stupid and believe what the media is feeding you…
Oh yea, send the jobs to whoever, we will all make money.Republican sluts!
In the release was some continual disturbing data. The ‘Labor Participation Rate’ dropped to 62.8%, the lowest level since April, 1978. In the month of December 347,000 people stopped looking for work.
Another sign of the weak recovery is the failure of the employment-population ratio to rebound. This signals how well the economy is luring Americans in…to the labor market. The bad news is that the ratio remained at 58.6% in December, barely above its post-recession low of 58.2% in July 2011 and well below the 59.4% in June 2009 when the recession ended.
Unemployment rate U3 was reported to drop from 7.0% to 6.7%. When the LPR continues to increase, the UR decreases due to workers not finding jobs, but they quit looking for work.
One of the metrics that the national media does not focus on is the U6 unemployment rate. This is defined as “total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers.” The U-6 rate was unchanged in December at 13.1 percent
In other words, the unemployed, the underemployed and the discouraged — a rate that still remains high.
http://www.shadowstats.com/alternate_data/unemployment-charts
The jobs Rommel sent to China mean nothing to you? Why BS the American people?
My comments reflect the unemployment rate is worse, when you look at the U6 population; and the Labor Participation Rate is the lowest since April, 1978.
Legislators should be concerned with growing our economy to create jobs by lowering or removing totally corporate taxes, reduce regulations, the reduce the size and scope of our government. A job is the best social program.
I am providing data, not making general unsubstantiated comments. I will be more than happy to cite my references. http://cnb.cx/1hEvC93
This is two things. First, we do have consider we have the largest retirement population ever, coming of age to retire. However, that is only a small portion of what was reported last week. There was weak job creation even in a month its supposed to be strong (re: Obama Economy rolls on) and it seems rather convenient this occurred during the debates on extending unemployment insurance. I’ll ask our local expert Mark French Monday at 8:26 am his analysis on WQSC1340 Charleston radio; Listen live or via Tunein App.
The jobs have been sent elsewhere for a long time to make a buck more. Is that so hard to see? Ask the American people? Your % means 0 for America, and + for you guys. I’m not stupid!
Why do these people go out of thier way to complicate shit?
The jobs are in China!
Their tax rates are lower. Thanks Obama….He’d rather punish Americans they allow us to thrive…..
This shitty state sucks, political corruption in Cola, crumbling roads across the state, and a bunch of lazy people that want to sit home and watch Springer. Vote Democrat as they will fix everything……yeah right.