Hiring Stepped Up A Bit In July, But Unemployment Rate “Unexpectedly” Goes Up

Hey, remember these fun Obama quotes?

  • The private sector is doing fine
  • You didn’t build that
  • We tried our plan and it worked!

Really?

(CNN) Businesses stepped up their hiring in July, but the unemployment rate ticked higher anyway.

Employers said they added 163,000 jobs in the month, according to a Labor Department report released Friday, much better than the 95,000 jobs economists had forecast.

But at the same time, the unemployment rate unexpectedly rose to 8.3% as households claimed they lost 195,000 jobs. (snip)

Revisions from previous months also showed the economy gained 6,000 fewer jobs in May and June than originally thought. (snip)

Three years after the recession officially ended, roughly 12.8 million Americans remain unemployed, and 40.7% of them have been so for six months or more.

Meanwhile, 852,000 so-called “discouraged workers” were not counted in the labor force, because they did not look for a job in the last four weeks.

Some like to compare Obama’s depression to Reagan’s recession, both of whom “inherited” the condition. In July 1984, the economy added 379,000 jobs after adding 308,000 in May and 363,000 in April. There weren’t reports about people simply giving up en masse from the jobs market. Under Reagan, the economy continuously showed signs of improvement. Under Obama, it just keeps slugging on, going nowhere. And RNC Chairman Reince Priebus was quick to pounce

“Last week President Obama said, ‘We tried our plan, and it worked.’ With the unemployment rate going up again, it’s obvious that plan didn’t work at all,” said RNC Chairman Reince Priebus.

“Instead of supporting American innovation and job creation, he has squandered taxpayer money on failed companies like Solyndra, which led to job losses. It’s no wonder we can’t end this economic nightmare. The president continues to take us in the wrong direction.

“In a time of widespread economic hardship, the president’s schedule has not included a ‘Daily Economic Briefing’ since April of 2011. He has not convened his Jobs Council in over six months, yet he has found time for over 120 political fundraisers and 11 rounds of golf since their last meeting.

“President Obama’s only plans for a second term are higher taxes and more spending–exactly the opposite of what we need. On Day One of his presidency, Mitt Romney will get to work implementing his comprehensive jobs plan to turn around the economy.”

Ed Morrissey

However, there is more bad news than good.  July saw a slight move up in U-6, which had been coming down earlier in the year to the mid-14 range.  That measure of un/underemployment has now risen to 15.2%, increasing in both adjusted and unadjusted measures.  It’s the highest rating in this measure since February, and it’s now up more than a full point since April.

More: Via Ace from Political Math comes this handy dandy graphic

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10 Responses to “Hiring Stepped Up A Bit In July, But Unemployment Rate “Unexpectedly” Goes Up”

  1. john says:

    Corporate profits are at all time highs and the Dow has gone up over 50% under Obama. Teach it is only SOCIALISTS that believe that BIG GOVERNMENT is responsible for creating jobs, not the FREE MARKET

  2. Yet, the economy under Obama sucks beyond belief. Explain that, John.

  3. gitarcarver says:

    john,

    You really do have a warped simplistic view of the world.

    Corporate profits are at all time highs and the Dow has gone up over 50% under Obama.

    Yes, the Dow is up, but that is not an indication of the economy doing well. In fact, many economists see the Dow going up without the supporting increase in the GDP, increase in debt, percentage of dept to GDP and spending as creating an artificial bubble exactly like the “dot com” bubble. The Dow has nothing supporting it and soon people will realize that.

    Secondly, profits for companies in some cases are up, but yet small businesses are going belly up in record numbers. The increase you are talking about is an increase in dollars, but not an increase in profit percentages. In effect, companies are making less as a percentage then there were.

    Teach it is only SOCIALISTS that believe that BIG GOVERNMENT is responsible for creating jobs, not the FREE MARKET

    Oh, so you agree Obama is a socialist as he has said it is the government’s responsibility to create jobs and get people back to work?

    Anyway, it is the free market that creates jobs. That is assuming the free market is actually “free.” Under Obama, the free market has been chained and regulated more than in any time in history. Regulations on businesses from unelected officials have increased 3 – 4 times what they were prior to Obama taking office. The Justice Department and the EEOC have taken on ridiculous, expensive court cases that have limited businesses from expanding. Obamacare has businesses wondering about the costs to them and so they are not hiring.

    This means the person you say is a Socialist has prevented the market from thriving, competing and helping the economy.

    Thanks for playing.

  4. Nice takedown, GC. I love how John exposed himself.

  5. gitarcarver says:

    I love how John exposed himself.

    Oh god. The mental image of john exposing himself just flashed through my brain.

    MAKE IT GO AWAY!!!

    😀

  6. john says:

    private sector jobs increased, public sector jobs decreased

  7. You apparently missed my tweet yesterday about Harry Reid wearing Hello Kitty panties, GT.

    Do you have a twitter feed? Never saw one.

  8. gitarcarver says:

    private sector jobs increased, public sector jobs decreased

    Uh. No.

  9. gitarcarver says:

    Do you have a twitter feed? Never saw one.

    No. I tried to get it working one day and it crashed the site.

    I need to try it again and get it up and running.

  10. Gumball_Brains says:

    holy crap silly john… one of your best yet. You keep topping yourself.

    so, the public sector adding over 100,000 new jobs, private sector having lost millions of jobs, tens of millions of people just stop looking for work, employment in double digit figures for very long time, fake unemployment over 8% for all of Obama’s reign.

    Yeah, that completely supports your dream doesn’t it silly john?

    Oh.. sorry… its not 8.3% unemployment.. its 8.254934451342155211412 percent. so, not 8.3% after all.

    whatever jobs are gained, are only from those that Obama’s policies and anti-business administration forced to end.

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