Unemployment Rate Unwavered By Uptick In Jobs Numbers

The United States exceeded economists’ expectations by adding 103,000 jobs to the nation’s workforce in September, but the uptick did little to shake an idle unemployment rate as it sits unchanged at 9.1 percent, according to the Labor Department.

The Bureau of Labor Statistics credits the expansion in employment to the 45,000 disgruntled Verizon employees previously on strike who have returned to work, accounting for nearly half of all job creation last month.

RNC Chair Reince Priebus took the opportunity to blast the president’s jobs bill, calling it “Stimulus 2.0” and denouncing its touted potential impact on the country’s economy.

“Today’s disappointing jobs report underscores why President Obama’s Stimulus 2.0 is not the answer to put Americans back to work. After putting $825 billion on the nation’s credit card only to have 32 straight months of unemployment at 8 percent or above, it is remarkable that the President would double down on the same policies at the tune of nearly half a trillion dollars in more ‘stimulus’ spending,” said Priebus.

House Speaker John Boehner (R-Ohio) was even less than enthusiastic about September’s “sad numbers” saying Democrats “need to stop campaigning, start listening and start working,” a likely rollover from Thursday’s Obama’s-thrown-in-the-towel jab.

“Our unemployment rate has been higher than eight percent for more than two-and-a-half years, far above what [Obama] promised with the ‘stimulus,’” Boehner said in a statement.

Katherine Abraham, a member of Obama’s Council of Economic Advisers, also acknowledged that the stagnant 9.1 percent unemployment rate was “unacceptably high” and promoted the American Jobs Act as a means to expedite the economic recovery process.

“Clearly, we need faster economic growth to put Americans back to work,” Abraham said, but she reminded that September’s jobs numbers be taken with a grain of salt.

“The monthly employment and unemployment numbers are volatile and employment estimates are subject to substantial revision,” she said. “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”

Lawmakers Split On Meaning Of New Job Numbers

By Rob Sanna - Talk Radio News Service

Two House members disagreed Friday over what the July job numbers really mean.

Rep. Carolyn Maloney (D-N.Y.), Chair of the Joint Economic Committee, and Rep. Kevin Brady (R-Texas), the committee’s ranking Republican, each offered their own take on the report during a hearing this morning that featured testimony from a senior Labor Department official.

“Along with the failure of the massive, failed Democrat stimulus to put people back to work, except in federal government jobs, families and business fear the…job killing, anti-growth policies coming out of Washington,” said Brady.

“The signal of this Democratic Congress is clear: we”ll spend whatever taxpayer money it takes to save a government job, the rest of you American workers can take a hike,” he added.

Maloney, on the other hand, called the new figures encouraging, citing job increases in the private sector since President Obama took office. Maloney said the nation is experiencing economic recovery, even if the amount of growth was not as pronounced last month as it was earlier this year.

“The policies of this Democratic Congress quickly put into place this last year are working,” Maloney said.

“Without the actions taken by the administration, Congress, and the Federal Reserve, this recession would have been another great depression,” she added.

Unemployment Reaches 10.2 Percent

By Leah Valencia, University of New Mexico- Talk Radio News Service

Unemployment increased to 10.2 percent in October, the highest rate since 1983, leaving Americans with 190,000 less jobs, Bureau of Labor and Statistics Commission Keith Hall told Congress in a Joint Economic Committee hearing Friday.

“The declines are much smaller and less widespread than they were last Fall and Winter,” Hall said. “Nevertheless, some industries are still experiencing notable employment decline.”

Hall told the committee that in October the heavy construction, manufacturing and retail industries have had a particularly significant decline in employment losing a combined total of 163,000 jobs.

However, he added that some industries have seen an increase in employment. Health care and help services are among the few that have added jobs, with a much smaller figure of 63,000 combined jobs.

Hall said since the recession began the number of unemployed has more than doubled to 15.7 million.

“The number of long-term unemployed remained high in October,” Hall said. “5.6 million workers have been jobless for 27 weeks or more.”

He said the increasing number of people who have become discouraged in looking for work and therefore remained unemployed have added to the problem. In October there was a reported 808,000 discouraged workers, a figure up from 484,000 last year.

“These are individuals are not currently looking for work because they believe no jobs are available for them,” Hall said.

Committee members on both side of the aisle agreed that in terms of job creation, the economy is not where it needs to be. Chairwoman Carolyn Maloney (D-N.Y.) said she believes the nation is on track to recovery, while Republicans argued that the Obama administration has not done enough to facilitate employment growth.