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January 8th, 2010

3 Million Jobs Lost Since Obama’s Stimulus Plan Passed

The Democrats and Obama’s stimulus bill that was suppose to create jobs has been a failure. Since March there were three million jobs lost. (Household data, seasonally adjusted, see below) The job numbers are not improving but getting worse. Other than a small increase in jobs in November, the worst months were in the second half of the year, Aug. Sept., Oct., and Dec. (almost 600 thousand jobs lost in December)

The unemployment rate is at 10% and would be much higher if not for many people that quit looking for a job and have left the labor force. When good jobs are hard to find and pay isn’t as expected for available jobs, people leave the labor force to take care of family, go to school or become homeless. The drop in the labor force was a huge 1.5 million people; the first drop since a smaller decrease in 1961 and one of the few yearly drops ever.

This is bad news for our country, jobs, standard of living and progress. Unless there is a change in policy by the Obama administration and Democrats it will be bad news for them at election time.

Data from Employment status HOUSEHOLD DATA

Posted by admin in Economics, General, politics

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