Will Obama see unemployment below 8% before he gets landslided out of office?

Obama can't get people back to work, 
but he sure knows how to waste 
$1-trillion dollars. 

*************************************************************

 Statement of

        

       John M. Galvin

      Acting Commissioner

     Bureau of Labor Statistics

        

      Friday, August 3, 2012





  Nonfarm payroll employment rose by 163,000 in July, and the

unemployment rate, at 8.3 percent, was essentially unchanged. ....

  Turning now to data from the survey of households, the

unemployment rate, at 8.3 percent, and the number of unemployed

persons, at 12.8 million, were essentially unchanged in July.

The labor force participation rate, at 63.7 percent, and the

employment-population ratio, at 58.4 percent, changed little over

the month. These indicators have shown little movement thus far

in 2012.

  

  Among persons who were neither working nor looking for work

in July, 2.5 million were classified as marginally attached to

the labor force, down 256,000 from a year earlier. These

individuals had not looked for work in the 4 weeks prior to the

survey but wanted a job, were available for work, and had looked

for a job within the last 12 months. The number of discouraged

workers, a subset of the marginally attached, was 852,000 in

July, also down from a year earlier.

  

  In summary, payroll employment rose in July (+163,000). The

unemployment rate, at 8.3 percent, was essentially unchanged"