What will be the new norm for unemployment?


Another 362,000 new claims for unemployment last week. Add the number of people who will lose their jobs as a result of Obamacare and those who will lose their jobs with Obama’s mandatory spending cuts what do you think the new norm for unemployment will be I’m guessing 10%.

Real unemployment is likely to remain at least in the 15-20% range, as long as Obama is President. It’s what lunatic leftists want and support through votes for policies and politicians who are anything but progressive, in spite of the name they’ve chosen for themselves.

At the beginning of January 2009, the workforce George Bush turned over to the junior Senator from Illinois was 133,886,830, according to employer’s payroll records compiled with the Employment & Training Agency. That sister agency to the BLS within the Department of Labor posts real counts of jobs losses registered with our nation’s unemployment offices administered at the state level across the country. On the Saturday before last November’s election, our once thriving workforce topped 90 million jobs slashed from the economy under Obama, according to newly registered, first-time claimants for unemployment after job losses.

On February 2nd, 2013, Obama’s ugly economy surpassed 95 million Americans slashed from the workforce with a total of 95,051,000 first-time claimants having registered for assistance after job losses under this Administration. For those who like seeing real, verified counts, rather than survey-based predictive figures manipulated and increasingly lacking credibility from BLS statisticians, the DOL’s ETA counts show more reliable nationwide counts. Today’s figures vaulted the total number of job losses since Obama took Office to 95,755,000. Since the Thursday advance release data posts counts through the prior Saturday, as of this weekend struggling Americans will have endured more than 96 million job losses according to registrant counts for unemployment under this President. Sometime around the final ten days of April, the pattern indicates Obama’s economy will have topped the century mark with 100 million once gainfully employed Americans purged from their place in the economy.

Among the worthy things to look at is how such numbers compare to other Presidents, since the left remains so firmly in Obama’s corner. At the end of last year, using cumulative figures through December 29th, 2012, Obama’s jobs purge counted more than 22 million more workers displaced from employment than experienced the same fate under George Bush. That translated into 108,000 more jobs lost on average for each week of Obama’s 205 weeks in Office at years end than were displaced at the same point in Bush’s second term. For months with 31 days in them, the extra jobs lost under Obama averaged 497,000 more than his predecessor. As a result, that rounds easily enough to a half million more jobs lost each and every month of the Obama depression than were lost during comparable periods for either of his two predecessors. That’s why Bush and Clinton numbers at 5.26 and 5.21% overall unemployment according to U3 rates across 8 years, and Bush’s slightly better U6 real unemployment average of 9.16 compared to Clinton’s 9.18 appear so dramatically better, at this point. Obama’s U3 rate remained at an average above 9 percent through the election last November, while his ugly real unemployment rate remained above 16 percent through the same period 46 months into his Presidency. Amazingly, Americans sent the worst performing President since the Great Depression back into Office, while claiming in exit polls that the economy and jobs was the issue of greatest concern to the nation’s electorate. To many, that strikes at the heart of the left’s new earned and deserved low information voter moniker.

There’s certainly more where those statistics came from, but the point should be apparent. This President’s economy and especially the shrunken workforce is something Americans will have to endure for at least another four years. Since the ETA offers quarterly cumulative employer payroll record counts, again for comparison, the January workforce figure of 128,613,913 remains 5.25 million fewer Americans recognizable in the workforce than the day Obama took Office. With nearly 30 million new come-of-age workers from amongst the nation’s higher education, secondary and trade school graduates, LPR’s awarded greencards, H1B’s and asylees, along with ICE estimates of illegal migrants available as hopeful new workers, the loss of more than 5 million jobs under this President strikes like a baseball bat upside the head.

cons were just running around saying no one will lose their jobs on here?

odd?

but the gov. will kick the sequester can down the road again, just like it did in Jan….

jobless claims has been around 350k (up or down 20k around that) for the past few years and we’ve seen the rate overall slowly dropping, it was 9 percent a few years ago… 7.8 or so now…

If Obama started destroying employers with over 50 employees, I would not agree with it but on the other hand I would not cry a river either. Those are the ones always getting corporate welfare anyways. It’s time for America to stop treating corporations like living entities and to start allowing the small business person to thrive. Franchises are showing to do more harm than good because of their extreme influence in the political processes against the individual.

Wow, the economy is coming along nicely, just as 0webama said it was…

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