|
Redstate...
For
the
Thirtieth Time, the Obama Administration Admonishes Voters Not to Read
Too Much
into One Month’s Jobs Numbers
Posted by
Jeff Emanuel
Friday,
July 6th
In case you
missed it, the June jobs report is out, and the numbers are not good
(though
the Obama administration had a ready-made – and well-worn – excuse
ready to go
at a moment’s notice; more on that below).
As Daniel
Horowitz wrote here this morning:
The
headline number of the establishment survey is that only 80,000 net
jobs were
created last month, about 100k under the requisite amount to
accommodate the
population increase. The
working-age
population grew by 189k in June, according to the household survey. As such, there are now 29
thousand more
unemployed than there were last month.
The U6 rate also ticked up to 14.9%.
Also, the
labor participation rate and population-employment ration remain near
all-time
lows. There are now
1.82 million more
people not in the labor force now than just 12 months ago. If you go back to January
2009, the month
Obama took office, that number is a whopping 5.48 million! This comes after several
months of dismal
jobs reports. We’ve
been averaging just
75,000 new jobs over the past three months.
What about minorities?
According
to the household survey, unemployment among blacks ticked up almost a
full
point to 14.4%.
There’s no
question that these numbers are, to put it plainly, abysmal. Further,
coming as
they do three and a half years into the Barack Obama’s presidency, it
would be
pretty safe to take this jobs report (along with those that have
preceded it)
as a reflection of this administration’s economic policies, which
clearly
haven’t put people back to work in any meaningful numbers since it
began.
US
Unemployment Rate data by YCharts... click link below
Of course,
the Obama administration immediately responded to the anemic report by
warning
against taking one month’s numbers too seriously, saying, “Therefore,
it is
important not to read too much into any one monthly report and it is
informative to consider each report in the context of other data that
are
becoming available.”
If that
admonition sounds familiar, it’s because you’ve heard it before, almost
word
for word – on thirty separate occasions. That’s right: of the forty-one
economic turmoil-filled months Barack Obama has been president, thirty
have
been followed by almost identical cautions not to take any individual
month’s
numbers too seriously.
The
following are courtesy of the good folks at the Romney campaign:
May 2012:
“Therefore, it is important not to read too much into any one monthly
report
and it is helpful to consider each report in the context of other data
that are
becoming available.”
April 2012:
“Therefore, it is important not to read too much into any one monthly
report
and it is helpful to consider each report in the context of other data
that are
becoming available.”
March 2012:
“Therefore, it is important not to read too much into any one monthly
report,
and it is helpful to consider each report in the context of other data
that are
becoming available.”
February
2012: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report; nevertheless, the trend in
job
market indicators over recent months is an encouraging sign.”
January
2012: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report; nevertheless, the trend in
job
market indicators over recent months is an encouraging sign.”
December
2011: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
November
2011: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
October
2011: “The monthly employment and unemployment numbers are volatile and
employment estimates are subject to substantial revision. There is no
better
example than August’s jobs figure, which was initially reported at zero
and in
the latest revision increased to 104,000. This illustrates why the
Administration always stresses it is important not to read too much
into any
one monthly report.”
September
2011: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
August
2011: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
July 2011:
“Therefore, as the Administration always stresses, it is important not
to read
too much into any one monthly report.”
June 2011:
“Therefore, as the Administration always stresses, it is important not
to read
too much into any one monthly report.
May 2011:
“Therefore, as the Administration always stresses, it is important not
to read
too much into any one monthly report.”
April 2011:
“Therefore, as the Administration always stresses, it is important not
to read
too much into any one monthly report.”
March 2011:
“Therefore, as the Administration always stresses, it is important not
to read
too much into any one monthly report.”
February
2011: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
January
2011: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
December
2010: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
November
2010: “Therefore, as the Administration always stresses, it is
important not to
read too much into any one monthly report.”
October
2010: “Given the volatility in monthly employment and unemployment
data, it is
important not to read too much into any one monthly report.”
September
2010: “Given the volatility in the monthly employment and unemployment
data, it
is important not to read too much into any one monthly report.”
July 2010:
“Therefore, it is important not to read too much into any one monthly
report,
positive or negative. It
is essential that
we continue our efforts to move in the right direction and replace job
losses
with robust job gains.”
August
2010: “Therefore, it is important not to read too much into any one
monthly
report, positive or negative.”
June 2010:
“As always, it is important not to read too much into any one monthly
report,
positive or negative.”
May 2010:
“As always, it is important not to read too much into any one monthly
report,
positive or negative.”
April 2010:
“Therefore, it is important not to read too much into any one monthly
report,
positive or negative.”
March 2010:
“Therefore, it is important not to read too much into any one monthly
report,
positive or negative.”
January
2010: “Therefore, it is important not to read too much into any one
monthly
report, positive or negative.”
November
2009: “Therefore, it is important not to read too much into any one
monthly
report, positive or negative.”
Once again,
out of 41 months, that’s 30 warnings not to take monthly jobs reports
too
seriously. With unemployment sitting at 8.2 percent, and the election
only four
months away, the verdict is already in, and it’s not based on “any one
monthly
report, positive or negative.” It’s based on a record nearly four years
long –
a record that clearly shows this president can’t be trusted with this
economy
any longer.
Read this
and other articles at Redstate
|
