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According to US Government-No New Jobs In August-Really?

unemployed workers at job seminar
(getty images-newstalk 870 file photo)

Before you start thinking that during the month of August, nobody got a new job, or nobody came off the unemployment rolls…

Consider this:  when the jobs figures were posted, new jobs are balanced against jobs lost.  If the government says 25,000 new jobs came into existance, that means MORE  jobs were created than lost.   So if 20k were lost, and 45k created, that’s a net gain of 25k.  According to Federal Job figures, -0- jobs created…a wash.  The unemployment rate stayed at 9.1 percent..but is actually higher, because people who are not on unemployment or have stopped looking are not included. Actual unemployment is in the teens.  According to economists, the US needs to be adding about 250,000 jobs a month to rapidly bring down the rate.  The unemployment rate has been above 9 percent all but two months since May 2009–despite Obama’s efforts to spend the way out, and the now largely failed stimulus program–considered so by most experts.  For example, companies at Hanford that took stimulus money, are largely the ones who are now fueling up to 3,000 layoffs-nearly a quarter of the Hanford workforce.  Now, some jobs are being cut due to cleanup completion..various projects.  But many jobs are now done because the stimulus money ran out.

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