You will remember that the reported (subject to revision the following week, as usual) number of new unemployment claims on June 10 was 453,000--about the same as the number in late November and December of 2009. The AVERAGE for all of December was 455,000. And the four week average reported on June 10 was HIGHER than that (as it still is). This meant that for more than six months, Obama has FAILED to bring about any improvement in the job market. There is no way to "spin" these numbers any other way. The job market has STALLED for more than six months, despite out-of-control government spending that makes a long-term recovery impossible. The "stimulus" has FAILED. We have mortgaged our future for NO gain in the present--much worse than doing nothing at all.
Well, I am back from vacation. And the usual jobless claims number came out this Thursday morning. Obama lost 457,000 jobs last week (a parody of how the CORRUPT mainstream media reports these numbers). Indeed, Obama now is giving 9.7 million people unemployment checks instead of a job (parody again), and that number of people receiving weekly checks went UP 155,000. The important point is that his number is UP from the number reported just before I went on vacation (when the weekly number was reported as 453,000). Did you notice that last week's number was BAD, without me to point it out to you? Yes, the number fell 9,0000 this week (subject to revision), but that means last week's number was a bad 466,000. I was on vacation and paid no attention. Did you? The stupid people on Wall Street did not (the Stupidest People on Earth), as the Dow remained close to 10,3000 (solidly above the 10,000 level it fell below a few weeks ago, even though the country seems to be falling apart, with no improvement in jobs, the Gulf, or the world situation). The Dow is down early today, but I have already shown you that stock market movements have nothing much to do with economic reality (something I had to explain to Rush Limbaugh and Sean Hannity when they were trying to say the stock market was voting "thumbs down" on Obama and the economy in March of 2009).
Yes, I am back, and the situation has not changed. The FAILURE of the Obama/Democrat/Bush "stimulus"/spending policies remains stark and undeniable. We have NOT IMPROVED in the labor market in more than six months. We have been "bumping along the bottom"--despite the outright LIES of the CORRUPT mainstream media over that entire time trying to point to each weekly improvement and dismiss each bad weekly report. 457,000 in new unemployment claims last week is exactly where we were at the beginning of last December (as shown by the averages in December). How many TRILLIONS of dollars have we WASTED over that time, and before, with the assurance that it would make things better for us to mortgage our future in that way?
Now the total number of people receiving unemployment is an AMBIGUOUS number--as I told you before I left on vacation. People leave the unemployment rolls for various reasons, and not just because they have found a job. The weekly jobless claims number is actually, over time, a better indication of where we are in the labor market. You would expect the total number of people on unemployment to drop as the labor market merely stabilizes, and that is what has happened. You would further expect that drop to not continue, unless the weekly claims number improves substantially. That appears to be what is happening, although one week does not mean much. You certainly can't see a dramatic drop in the people on unemployment without an improvement in the weekly jobless claims number, once the initial stabilization of the labor market has been fully factored in. That stabilization began last summer (before any Obama "stimulus" could have had any real effect), and was really fully accomplished by November.
Since November, we HAVE NOT IMPROVED. We are not improving in the labor market. Thus, the failure of Obama extends across the board. The Gulf of Mexico. Illegal immigration (where Obama looks upon a "secure border" as mere BLACKMAIL material to get amnesty, since he has no intention of stopping illegal immigration). Foreign policy in shambles. No respect for Obama from either our enemies or our own military. Health care "plan" tha almost nobody wants, and will not even go into real effect until 2014. Government spending totally out of control. Taxes scheduled to rise at the absolute worst time. Terrorists popping up regularly in the U.S., while Obama worries mainly abut the RIGHTS of terrorists (and about apologizing to the world for the Arizona law, as if that is more important, even as the situation in Mexico steadily gets WORSE). Afghanistan not working well, as Obama encourages our enemies with a "timetable for withdrawal" and Miranda rights for terrorists fighting us.
I could go on, but you get the idea. Failure, failure everywhere, but nary a drop to drink (drop of success, that is).