Flashback: Unemployment to spike as President still pivots

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Flashback October – 7.8% and focused like a laser beam

We’re Focused Like a Laser Beam on Jobs

The unemployment rate is reported as 7.8% with 114,000 new jobs reported through September, 2012.

The job participation rate, now called the disappearing workforce, is at 63.6% meaning that millions of people have dropped out of the workforce and have quit looking for work.

As more people drop out of the workforce, the lower the unemployment rate will go since the number of jobs created is no where near enough to keep up with the population growth which needs 175,000 minimum new jobs each month.

Labor prospects have not changed since 23 million people are still unemployed or under employed and most forecasts assumed that unemployment would be slightly below 8.0% just before election day.

Growth in the country is still anemic 1.3% and the labor statistics hardly bear out what is actually having in the jobs market.

The jobless recovery remains flat despite the decreasing unemployment rate because there is little confidence in the current administrations’ ability to govern on the heels of an empty policies that are not encouraging to business investment and growth.

Unintended consequences of the previous reporting continue to guide poor financial market investment choices leading to an increase/decrease in consumer confidence and a move closer to reality economics.

In 2008, than Senator Obama’s ‘HOPE and CHANGE’ campaign promised 5.6% unemployment not an average unemployment recorded by the BLS (US Bureau of Labor Statistics) of 9.1%.

17 U.S.C. §512 compliant – released October 05,2012 editor@pronlinenews.com

Read Obama’s Reply – Do You Think Americans are Stupid ?

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