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Obama Recovery Continues - 157,000 Jobs Added In January

ProudProgressive 2013/02/01 14:36:32

While the Right Wing continues to pretend that the United States is on the verge of economic collapse, here in the real world the Obama Recovery which began in the fall of 2009 continues, and appears to be gaining a little traction.

Article excerpt follows:

Economy Added 157,000 Jobs In January, Unemployment To 7.9 Percent
By Pat Garofalo
Feb 1, 2013

According to the latest data from the Bureau of Labor Statistics, the economy added 157,000 jobs in January, with the unemployment rate ticking up slightly to 7.9 percent. Economists expected an increase of 170,000 jobs. The private sector added 166,000 jobs, while the public sector lost another 9,000 jobs.

BLS revised the number of jobs created in November up by 86,000 to 247,000, and December was revised up by 41,000 to 196,000. Due to revisions done to the 2012 numbers, 181,000 jobs per month were created last year, higher than previously thought.


Read More: http://thinkprogress.org/economy/2013/02/01/152584...

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  • darcie lamar 2013/02/01 16:29:03
    darcie lamar
    +12
    Courtesy of someone you blocked PP.

    Claims for U.S. unemployment benefits increased more than forecast last week, nearly erasing a slide in the prior two weeks and reflecting the difficulty of adjusting the figures for swings at the start of a year.

    Initial jobless claims rose 38,000 in the week ended Jan. 26, the most since Nov. 10, to 368,000, the Labor Department reported today in Washington. chicken

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  • gary 2013/02/02 13:21:18
  • Radlad 2013/02/02 12:19:32
    Radlad
    Let's see we'll round it off to 160,000 jobs gained last month. My first question would be: If it were a republican president. What would the liberals of the media, politics, and those calling themselves liberal across this land reaction be. A paltry 160,000 jobs gained verses the loss of 8.5 million. It's almost a depression era growth rate.......
  • rk 2013/02/02 05:32:38
    rk
    Oops you forgot that 167,000 have stopped looking for work 12 million unemployed and increasing every month since November, unknown number of underemployed. You liberal lovers are dolts!
  • socokid 2013/02/02 01:42:24
    socokid
    +1
    It is absolutely amazing that we have come even this far in the face of an entire party who spent the last 4 years simply trying to get Obama out of office... the entire country be damned.
  • exhon2009 2013/02/02 01:41:34
    exhon2009
    +3
    157,000 jobs isn't enough to absorb population growth and potential adds to the workforce through college and high school graduation. We need a minimum of 250,000 jobs per month just to stay even. 157,000 represents six tenths of one percent annual growth in the job market in the U.S..

    Your ability to keep statistics in perspective is non-existent PP.
  • The Lib Hater 2013/02/02 01:35:53
    The Lib Hater
    +3
    I mean, really, what President wins an election when unemployment stayed above 7.8% over four years? How about it, libs, have an answer? I mean, really, look at your savings and investments and you can clearly see they are not producing growth. Yet, they are still giving this 0bama high marks. It's amazing how this president is beating up your family, financially wise; I have to ask myself, how in the hell can anyone like somebody like that?
    He is a disaster to this country. Now, if some of you were smart enough to buy gold, silver, and platinum, knowing the day is coming seeing 0bama got his 2nd term, you all know how great that investment was knowing he will finish what he started, and that is destroying the economy. Yep, add my guns to the mix, and I will survive 0bama. You libs that voted for him, that live off a government handout, LOL, your day is coming where you will really know what poverty feels like. By the way, libs, I love this platinum eagle I wear around my neck...LOL
  • cut and... The Lib... 2013/02/02 03:11:39
    cut and paste king
    What many Americans have felt all year is now official: The U.S. economy has been in a recession since December 2007. And things aren’t looking to get better. The labor market recession is worsening at an accelerated pace. Economic growth is unlikely to strengthen significantly any time soon as people are losing their jobs and businesses are pulling back their investments. This recession makes a bad situation worse for America’s families.
    The last business cycle that ended in December 2007 was marked by the weakest employment growth since the Great Depression, flat wages, declining benefit coverage, and deep indebtedness—in short, we are woefully unprepared for the current crisis. As the labor market recession accelerates, more and more families are succumbing to the pressures, declaring bankruptcy, and defaulting on their loans. Policymakers need to step in before the current economic downturn becomes even longer, deeper, and more painful for more Americans.
    1. Job losses accelerate. The U.S. economy lost 1.9 million jobs in the first 11 months of 2008, including 533,000 jobs in November. This was the largest negative job growth rate since May 1980. Almost half of all job losses in 2008—44.6%—came during the last two months.
    2. GDP growth turns negative. In the third quarter of ...








    What many Americans have felt all year is now official: The U.S. economy has been in a recession since December 2007. And things aren’t looking to get better. The labor market recession is worsening at an accelerated pace. Economic growth is unlikely to strengthen significantly any time soon as people are losing their jobs and businesses are pulling back their investments. This recession makes a bad situation worse for America’s families.
    The last business cycle that ended in December 2007 was marked by the weakest employment growth since the Great Depression, flat wages, declining benefit coverage, and deep indebtedness—in short, we are woefully unprepared for the current crisis. As the labor market recession accelerates, more and more families are succumbing to the pressures, declaring bankruptcy, and defaulting on their loans. Policymakers need to step in before the current economic downturn becomes even longer, deeper, and more painful for more Americans.
    1. Job losses accelerate. The U.S. economy lost 1.9 million jobs in the first 11 months of 2008, including 533,000 jobs in November. This was the largest negative job growth rate since May 1980. Almost half of all job losses in 2008—44.6%—came during the last two months.
    2. GDP growth turns negative. In the third quarter of 2008, GDP declined at an annual rate of 0.5 percent, the largest decline since the third quarter of 2001. The drop in growth was caused by a drop in consumer spending by an annualized rate of 3.7%—the largest decrease since the second quarter of 1980.
    3. Unemployment rates reflect broad labor market recession. In November 2008, the unemployment rate was 6.7%—the highest level since September 1993. The African-American unemployment rate stood at 11.2%, the Hispanic unemployment rate at 8.6%, and the unemployment rate for whites at 6.1% in November 2008.
    4. Wages remain flat. Factoring in inflation, hourly wages were only 0.6% higher and weekly wages were the same in October 2008 as in December 2007, when the last business cycle ended.
    5. Americans never recovered benefits lost during the last business cycle. The share of private-sector workers with a pension dropped from 50.3% in 2000 to 45.1% in 2007, and the share of people with employer-provided health insurance dropped from 64.2% in 2000 to 59.3% in 2007.
    6. Family debt contracts from record high levels. Household debt averaged 130.3% of disposable income in the third quarter of 2008, down from a record high of 133.5% at the end of 2007, but higher than any level recorded before September 2006.
    7. The housing crisis deepens. New home sales in October 2008 were 40.1% lower than a year earlier with only 433,000 units sold, which was also the lowest level since January 1991, even though median sales prices dropped by 7.0% since October 2007. Existing home sales were 1.6% lower in October 2008 than a year earlier, but their prices also dropped by 11.3% during the same period.
    8. Homeowners lose wealth. The value of all homes fell by 4.1%, or $656 billion, in the third quarter of 2008 after accounting for inflation. Over the course of one year, families lost $2.4 trillion in home values. Home equity as a share of home value also fell to a record low of 44.7% in the third quarter of 2008.
    9. Mortgage troubles mount. One in 10 mortgages is delinquent or in foreclosure. In the third quarter of 2008, the share of mortgages that were delinquent was 7.0%, and the share of mortgages that were in foreclosure was 3.0%. The share of new mortgages going into foreclosure stayed at its record high of 1.1% in the third quarter.
    10. Families feel the pressure. Credit card defaults rose to 5.6% of all credit card debt by the third quarter of 2008, an increase of 35.4% from the fourth quarter of 2007.
    11. The trade deficit remains high. In the third quarter of 2008, the trade deficit was at 4.9% of gross domestic product. Despite declining slightly, the trade deficit remains at a historically high and ultimately unsustainable level.
    (more)
  • Adakin Valorem~PWCM~JLA 2013/02/02 01:10:38
    Adakin Valorem~PWCM~JLA
    +2
    9.6 million FEWER Americans Working today, than in the month before Obama became POTUS... in January 2009...

    PolitiFact: "Using Bureau of Labor Statistics data for the number of Americans aged 16 and older, then subtract the number who are employed. What’s left refers to the number of Americans who are "not working" at any given time, for any reason.

    Looking at those stats for December 2008 to December 2012 time frame...and found that the number of Americans not working has increased by almost 9.6 million." http://www.politifact.com/tru...

    sign says  Or I will vote for Obama

    sign says  Or I will vote for Obama
  • cut and... Adakin ... 2013/02/02 03:13:39
  • exhon2009 Adakin ... 2013/02/02 04:51:52
    exhon2009
    +1
    Hey I gave that guy some money and it didn't work.
  • cheryl 2013/02/02 00:40:43
    cheryl
    I can guarantee if romney had been elected, it would be "boy things are really looking up" "wow look at the gas prices going down." A bunch of bull.Im so glad president obama was reelected.I can just hear faux news going on and on about all the new jobs created.
  • marcuss... cheryl 2013/02/02 03:39:28
    marcuss LIBERALS ARE TRAITORS
    Gas prices going down? Where in Saudi Arabia?
  • cheryl marcuss... 2013/02/02 04:06:35
    cheryl
    well,there not getting any higher.i know the president really has nothing to do with gas prices.bad example sorry .but everyone knows what i mean.anything that may look as if it were improving would have all been because of romney
  • marcuss... cheryl 2013/02/02 04:16:16
    marcuss LIBERALS ARE TRAITORS
    +1
    Gas prices along with everything else rising is because in the last 4 years the American dollar has drastically lost its value. Until the DEMOCRACK scourge is gone from the government the value of the dollar will continue to drop in value.
  • exhon2009 marcuss... 2013/02/02 04:56:05
    exhon2009
    That's what most people miss. The Chinese wised up and quit buying our bonds. No matter, we just print the money and borrow it from ourselves. We're monetizing the debt and that's why dollar denominated assets are generally going higher in dollar terms. The stock market and oil prices are good examples of that. The only reason we've gotten away with it to some extent is much of the rest of the world is doing the same thing.
  • "Shooter" ™ 2013/02/01 23:10:25
  • SJG 2013/02/01 23:04:35
    SJG
    +1
    Right wing nut jobs aren't smart enough to look at their 401k's and retirement to see just how well they are doing, just dumb enough to keep crying.
  • Studied SJG 2013/02/02 01:47:28
    Studied
    Your 401K has absolutely nothing to do with the jobs. The libs should be screaming about the markets doing so well as that means business is making loads of money for their shareholders, not employing people. Companies have learned how to make more with less people employed.
  • SJG Studied 2013/02/02 12:48:33
    SJG
    LIBS!!!!!!!!!!! More nonsense!!!! Companies are cash rich because THEY choose not to hire. It has nothing to do with LIBS!!! How stupid! You must be one of those crybaby conservatives who still can't understand the economy. We've been here before, many times before. The markets preform well before the 'JOBS" return. Go ahead, blame it on the LIBS!!!!! How pathetic.
  • rewald.roza.9 2013/02/01 22:09:36
    rewald.roza.9
    +3
    you need to cronch your mounth
  • bigfoot 2013/02/01 22:00:16
    bigfoot
    +2
    In spite of deliberate Republican-RWNJ Obstruction.And worse the defiant rejection of the will of the American people.Mitt and his plan lost.
  • Bronar 2013/02/01 21:31:25
    Bronar
    +5
    Talking about picking and choosing numbers. What do you think the unemployment rate would be if it were reported the same way it was calculated during Reagan's presidency?
  • Getting... Bronar 2013/02/01 21:54:14
    GettingBarried
    +3
    I'd guess closing in on 15%. Keep it under your hat though.
  • Eastexn25 2013/02/01 20:48:50
    Eastexn25
    +4
    No matter how you spin it or call it good there were still not enough jobs created for people entering the work force once again and more unemployment claims were filed than expected in the same period. Unemployment is increasing again. Sorry but this is not good news that should be shouted out as if Obama is doing a good job. Job growth is still poor and our economy is once again on the back slide. Look at what wages have done for the last four years compared to inflation then tell me with a straight face that Obama's borrow and spend economic plan is actually working.
  • sbtbill 2013/02/01 20:41:39
    sbtbill
    +1
    I've been saying for well over a year budget cuts cut jobs. For those of you who have trouble putting 2 and 2 together fewer jobs mean a worse economy.

    I haven't been as clear about defense spending, but I have pointed out that both FDR and Reagan used defense spending to hype the economy. Let me make sure I'm clear. Spending money on defense creates jobs. Cutting defense spending cuts jobs. Cutting jobs means a worse economy. This does not mean we need wars. You just have to build the stuff, its expensive to use it.

    The Republicans have shot themselves in the foot by hiding some of the problem. Cutting unemployment benefits means less demand and a poorer economy and it means that people who can't find a job fall of the stated unemployment roles. Thus the real unemployment rate stays the same while the official unemployment rate goes down. It was the Republican and the tea party folks who demanded we do that.

    It's not government but it is state governors who have been pushing down unions and wages. That means less money to spend. That means a poorer economy. Once again we are reaping what the right planted.

    Fox doesn't get it. Paul Pot Ryan and the Republicans are the engine driving budget cuts. It is the Republican austerity program that is damaging the economy.

    Obama's ...

    I've been saying for well over a year budget cuts cut jobs. For those of you who have trouble putting 2 and 2 together fewer jobs mean a worse economy.

    I haven't been as clear about defense spending, but I have pointed out that both FDR and Reagan used defense spending to hype the economy. Let me make sure I'm clear. Spending money on defense creates jobs. Cutting defense spending cuts jobs. Cutting jobs means a worse economy. This does not mean we need wars. You just have to build the stuff, its expensive to use it.

    The Republicans have shot themselves in the foot by hiding some of the problem. Cutting unemployment benefits means less demand and a poorer economy and it means that people who can't find a job fall of the stated unemployment roles. Thus the real unemployment rate stays the same while the official unemployment rate goes down. It was the Republican and the tea party folks who demanded we do that.

    It's not government but it is state governors who have been pushing down unions and wages. That means less money to spend. That means a poorer economy. Once again we are reaping what the right planted.

    Fox doesn't get it. Paul Pot Ryan and the Republicans are the engine driving budget cuts. It is the Republican austerity program that is damaging the economy.

    Obama's complicity is that he seems to like the idea of cutting spending, raising the retirement age and other things that will hurt the economy. The man is a blue dog even if you Republicans don't think so.

    The Road to Serfdom is not overspending it is poverty and a bad economy causes povert
    (more)
  • cut and... sbtbill 2013/02/02 03:18:50
    cut and paste king
    The question is not whether military spending creates jobs – it is whether more jobs could be created by the same amount of money invested in other ways. The evidence on this point is clear.
    • A billion dollars devoted to a tax cut creates 34% more jobs than a billion dollars of military spending;
    • Spending on clean energy production produces one and one-half times more jobs;
    • And, spending on education creates more than two and one-half times more jobs.
    And though average overall compensation is higher for military jobs than the others, these other forms of expenditure create roughly as many decent-paying jobs (those paying $64,000 per year or more) as military spending does. The exception is education, which creates more than twice as many good paying jobs as military spending.1
    Part of the reason that military spending creates fewer jobs than other forms of expenditure is that a large share of that money is either spent overseas or spent on imported goods. By contrast, most of the money generated by spending in areas like education is spent in the United States.
    In addition, more of the military dollar goes to capital, as opposed to labor, than do the expenditures in the other job categories. For example, only 1.5% of the price of each F-35 Joint Strike Fighter pays for the lab...
    The question is not whether military spending creates jobs – it is whether more jobs could be created by the same amount of money invested in other ways. The evidence on this point is clear.
    • A billion dollars devoted to a tax cut creates 34% more jobs than a billion dollars of military spending;
    • Spending on clean energy production produces one and one-half times more jobs;
    • And, spending on education creates more than two and one-half times more jobs.
    And though average overall compensation is higher for military jobs than the others, these other forms of expenditure create roughly as many decent-paying jobs (those paying $64,000 per year or more) as military spending does. The exception is education, which creates more than twice as many good paying jobs as military spending.1
    Part of the reason that military spending creates fewer jobs than other forms of expenditure is that a large share of that money is either spent overseas or spent on imported goods. By contrast, most of the money generated by spending in areas like education is spent in the United States.
    In addition, more of the military dollar goes to capital, as opposed to labor, than do the expenditures in the other job categories. For example, only 1.5% of the price of each F-35 Joint Strike Fighter pays for the labor costs involved in “manufacturing, fabrication, and assembly” work at the plane’s main production facility in Fort Worth, Texas.2 A full 85% of the F-35s costs go for overhead, not for jobs actually fabricating and assembling the aircraft.3
    In a climate in which deficit reduction is the central focus of budget policy in Washington, a dollar spent in one area is likely to come from cuts in other areas. The more money we spend on unneeded weapons programs, the more layoffs there will be of police officers, firefighters, teachers and other workers whose jobs are funded directly or indirectly by federal spending.
    (more)
  • claona 2013/02/01 20:09:43
    claona
    Its getting better all the time... better better better.
    Its getting better all the time!
  • Getting... claona 2013/02/01 20:42:34
    GettingBarried
    That's one for you, nineteen for me...
  • claona Getting... 2013/02/02 08:33:46
    claona
    +1
    Money can't buy you love? (well maybe sex?)
  • Getting... claona 2013/02/02 13:51:52
    GettingBarried
    lol
    the girl with kaleidoscope eyes??
  • zbacku 2013/02/01 19:36:46
    zbacku
    +3
    If we keep that up, we'll be bankrupt in no time at all. How about the 8.5 MILLION that have LEFT the unemployment roles.
  • Tuna 2013/02/01 18:50:34
    Tuna
    +3
    169,000 jobs LOST !!! Another "NET LOSS" in jobs. Another INCREASE in unemployment and THAT'S THE GOOD NEWS folks.
    bad economy
  • "Shoote... Tuna 2013/02/01 23:13:03
    "Shooter" ™
    +1
    Good news for the 0bama supporters and being supported by him since they don't give a crap.
  • Tuna "Shoote... 2013/02/01 23:36:17
    Tuna
    +1
    They are awfully quiet today; they are usually all over me but I don't see any of them, do you?
  • "Shoote... Tuna 2013/02/02 00:09:41
    "Shooter" ™
    +1
    No I don't.. they are probably looking in their wallet now.

    LMAO!!
  • cut and... Tuna 2013/02/02 03:25:40
    cut and paste king
    93 percent of working population has a jab
    working people are paying their credit card bills at record pace
    foreclosures have slowed down trmendously
    only losers like you that are looking for somebody to blame for their pathetic life spend the whole day bitching and moaning instead of doing something positive with their lifes
  • Tuna cut and... 2013/02/02 03:30:30
    Tuna
    That's closer to 85% with a job; millions are no longer counted because their jobs will never come back, they gave up, retired, or moved out. Lower credit is BAD for the economy if you knew what the hell you are talking about. You don't like the facts do you? Obamanomics is a collosal failure.
  • cut and... Tuna 2013/02/02 03:41:24
  • tdterry1999 2013/02/01 18:01:09
    tdterry1999
    +4
    January Jobs Report: U.S. Economy Adds 157,000 Jobs; Unemployment Rate Up To 7.9 Percent From huff puff.
    And ya'll are cheering.I bet if it goes to 8% ya'll will tell Obama to take a month off.
  • Tuna tdterry... 2013/02/01 18:52:19
    Tuna
    +3
    Pretty low standards aren't they? If it gets any lower we will all be jumping out of the basement; gonna have to dig a big hole.

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