Unemployment rate edges up, job growth slows

[Pale Blue Dot]

Source: MSNBC

Hiring cooled off in July, pushing the nation’s unemployment up to 4.6 percent, a six-month high.

The fresh snapshot of employment conditions around the country, released by the Labor Department Friday, also showed that new job creation slowed. Employers increased payrolls by 92,000 last month, the fewest add-ons in a single month since February.

Job losses in construction, manufacturing, retailing and by the government blunted gains in education and health care, professional and business services, and leisure and hospitality.

Read more: http://www.msnbc.msn.com/id/20106569/

[OhioChick]

1. But...

The economy is on the move... :sarcasm:

[MaineDem]

2. You beat me to it.

We're told the economy is solid.

You don't think someone would manipulate the truth do you? Also :sarcasm:.

[Doctor_J]

3. And consumer confidence is soaring!

at least it was in yesterday's propaganda release.

[Tempest]

4. They want you to believe it's soaring

112 doesn't seem all that great when compared to the 130 confidence rating during Clinton's administration.

100 is where confidence is considered positive. 112 is not that far removed from the baseline.

[Lasher]

5. But but, the tax cuts is a-workin'!!!

And the stock market is a-boomin'!!!

Awhile back I whipped out my spreadsheet to see just how the stock market has done so far during Junior's tenure. Average annualized performance during years 2001 through 2006 was 2.59%. Average for Clinton's 8 years was 15.86%.

Poppy: 12.63%.
Saint Ronnie: 9.87%.
Carter: 7.07%.

Average annualized gains for all years, 1977 through 2000 (Carter through Clinton): 11.86%.

And the market is taking a huge dump right now. Guess it's time to change from "The tax cuts are working!" back to "Presidents have very little control over the economy."

[Tempest]

6. Did you calculate inflation into your results?

Georgie's numbers look a lot worse when you include inflation.

[Lasher]

7. No, I didn't adjust for inflation, although I might do that next time I feel ambitious.

I used the closing price on the last trading day of each year to produce my results. PM me if you want to know more.

Edit: You have no doubt concluded already that S&P performance under Junior has not even kept up with inflation.

I have been thinking that I would extrapolate midyear gains to include 2007, under the assumption that the 2nd half will be exactly like the first. Shouldn't be much of a challenge now that I've got my spreadsheet formulas set up.

But there is no way in the world Junior can do anything now to improve enough to come anywhere near equaling Carter, who has been vilified so much in this and other respects by the GOP. No amount of propaganda can change the numbers that prove this is indeed the worst president ever.

[GoddessOfGuinness]

8. Quick! Build another WalMart!