“This is not what a real recovery looks like. We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office. If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11%. The results of President Obama's failed policies are staggering – 23 million Americans struggling for work, nearly one in six living in poverty and 47 million people dependent on food stamps to feed themselves and their families. The choice in this election is clear. Under President Obama, we’ll get another four years like the last four years. If I’m elected, we will have a real recovery with pro-growth policies that will create 12 million new jobs and rising incomes for everyone.” – Mitt Romney
After Another Month Of Sluggish Jobs Growth, Millions Of Americans Are Still Struggling For Work:
More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, 10/5/12)
U.S. Manufacturing Has Lost 38,000 Jobs In The Last Two Months Alone.
“Manufacturing, one of the bright spots that President Obama has showcased throughout the re-election campaign, fell 16,000 jobs after losing a revised 22,000 in August, and construction jobs grew by 5,000. The number of temporary jobs, a harbinger of future growth, fell 2,000.” (Shaila Dewan, “Jobless Rate Falls To 7.8%, Lowest Since January 2009,” The New York Times, 10/5/12)
Since President Obama Took Office, The Nation Has Lost 610,000 Manufacturing Jobs. (Bureau Of Labor Statistics, 10/5/12)
American Enterprise Institute’s James Pethokoukis: “10.7%: Unemployment Rate If Labor Force Participation Rate Was The Same As When Obama Took Office” (Twitter.com, 10/5/12)
And Sluggish Jobs Growth Is Just The Latest Disappointing News After Another Bad Week In The Obama Economy:
In August, Factory Orders Fell By 5.2 Percent – The Biggest Decline Since January 2009. “Orders placed with U.S. factories fell in August by the most in more than three years, signaling that slowdowns in business investment and exports restrained the economic expansion. The 5.2 percent decrease in bookings was the biggest since January 2009 and followed a revised 2.6 percent increase in July, the Commerce Department said today in Washington.” (Lorraine Woellert, “Orders To U.S. Factories Plunge On Airplanes, Computers,” Bloomberg, 10/4/12)
“U.S. Manufacturing Ended Its Worst Quarter In Three Years In September…”
“U.S. manufacturing ended its worst quarter in three years in September as foreign demand for U.S. goods fell sharply, an industry survey showed on Monday. The final Markit U.S. Manufacturing Purchasing Managers Index fell to 51.1 in September from 51.5 in August, and averaged 51.4 in the third quarter. Both the monthly and quarterly readings were the lowest in three years. A reading above 50 indicates expansion.
Manufacturing Output Hit A Three-Year Low, While Employment Activity Slipped To Its Lowest Reading Since December 2010.
“The index's reading for the manufacturing sector's output fell to 50.6 from 51.9, also a three year low, while employment slipped to 51.9, the lowest reading since 51.1 in December of 2010.” (“Factory Activity Caps Worst Quarter In Three Years: Markit,” Reuters, 10/1/12)
“First-Time Jobless Claims Increased Slightly Last Week, Reflecting The Inability Of The Job Market To Get On A Faster Track Toward Recovery.” “First-time jobless claims increased slightly last week, reflecting the inability of the job market to get on a faster track toward recovery. The number of new filers for unemployment benefits rose by 4,000 to a seasonally adjusted 367,000, from an upwardly revised 363,000, the Labor Department reported Thursday.” (Vicki Needham, “Initial Jobless Claims Tick Up Slightly,” The Hill, 10/4/12)
“Prolonged Uncertainty About The Trajectory Economy And The Looming Combination Of Tax Increases And Spending Cuts Are Hampering Small Businesses From Hiring.”
“Prolonged uncertainty about the trajectory economy and the looming combination of tax increases and spending cuts are hampering small businesses from hiring. Only 16 percent of small business owners reported that they plan to add employees this year and the majority expects to hold off hiring into 2013, according to a U.S. Chamber of Commerce third quarter survey of small businesses released Wednesday.” (Vicki Needham, “Survey: Economic Uncertainty Weighing On Job Growth, The Hill, 10/3/12)
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