Obama hails 'clear' jobs growth

Jobs growth disappoints, but jobless rate falls
WASHINGTON (Reuters) - Employers hired fewer workers than expected in December and a surprisingly large number of people gave up searching for work, tempering the positive news of a big drop in the Unemployment Rate. The disappointing jobs growth figure reported by the Labor Department on Friday suggested the Federal Reserve would likely stay the course with its effort to support the world's biggest economy with the purchase of $600 billion in Government Bonds. The department's survey of nonfar...

Obama's Sets Mission For New Team: Accelerate Growth
WASHINGTON — President Barack Obama sees a clear and encouraging trend on The Economy, citing fresh reports showing private-sector job growth and lower Unemployment. He used his weekly radio and Internet address Saturday to discuss the latest economic news and press for Bipartisan action in the newly divided Congress on measures to spur growth. Obama presented the December jobs report in a positive light even though it fell short of what Economists had been looking for and even though the dr...

US adds 1.3 million private sector jobs in 2010, holds lessons for 2011 policy
The December jobs report showed the Unemployment Rate down to, 9.4 percent, the Lowest Level in 19 months. It showed that 103,000 jobs were added to The Economy, the 12th consecutive month of growth in Private Sector jobs that added 1.3 million Private Sector jobs, the strongest Private Sector job growth since 2006. Indeed, jobs have been added to the economy for just about every month since Obama got the stimulus program passed, reversing the decline in jobs that had occurred every month for Bu...

Obama created more jobs in one year than Bush created in eight
Looks like Cheney’s pro-pollution, pro-rich policies aren’t as effective as even Obama’s modest Clean Energy, middle-class-oriented ones.  ThinkProgress has the story in this cross-post: This morning, the Labor Department released its employment data for December, showing that the U.S. economy ended the year by adding 113,000 Private Sector jobs, knocking the Unemployment Rate down sharply from 9.8 percent to 9.4 percent — its lowest rate since July 2009….  October

U.S. economy steadily adding jobs, but not enough to keep pace with workforce growth
The U.S. economy is steadily adding jobs, the Labor Department confirmed Friaday, but still just barely enough to keep up with the growth of the Workforce. The weakness underscores the nation's struggle to get back to something resembling normal employment. Employers added 103,000 jobs in December - pushing the Unemployment Rate down to 9.4%, its Lowest Level in 19 months. But the growth fell short of expectations. And the drop in Unemployment was partly because people stopped looking for work...

Jobs growth disappoints, but jobless rate falls
By Lucia Mutikani WASHINGTON | Fri Jan 7, 2011 8:00pm EST WASHINGTON (Reuters) - Employers hired fewer workers than expected in December and a surprisingly large number of people gave up searching for work, tempering the positive news of a big drop in the Unemployment Rate. The disappointing jobs growth figure reported by the Labor Department on Friday suggested the Federal Reserve would likely stay the course with its effort to support the world's biggest economy with the purchase of $600 bi...

Take This Jobs Report and Shove It
in the back). The macro news included the B(L)S reporting their non-farm pay roll numbers in a release more anticipated than the release of Edmund Morris' Colonel Roosevelt (and no fucking joke here, Money McBags waited nine fucking years for that as the first two in the Trilogy were jizztastic) or the release of Alice Eve's Bra in Crossing Over (slightly more jizztastic). But it wasn't just the jobs report, as The Bernank spoke in front of the Senate Budget Committee and let everyone know that...

Bernanke Cites Economic Improvements
Reuters reports: (Reuters) - The U.S. economy may finally be hitting its stride even if growth remains too weak to put a real dent in the nation’s jobless rate, Federal Reserve Chairman Ben Bernanke said on Friday. Offering no real clues on the future direction of Monetary Policy, Bernanke sounded cautiously more upbeat than he had in his most recent public remarks. He cited improvements in Consumer Spending and a drop in jobless benefit claims as hopeful signs a languid recovery w...

Fed Watch: More of the Same
Tim Duy: More of the Same, by Tim Duy: The jobs report was a clear disappointment relative to both expectations at the beginning of the week and certainly after the blowout ADP report.  After adjusting expectations to the upside, ADP once again scores a major miss (how we came to care about this data series still remains a mystery to me).  That said, the overall tenor of Fourth Quarter employment reports suggest an economy growing around trend growth.  Better, but not good en...

Obama: Economy Moving in Right Direction
(WASHINGTON) — President Barack Obama sees a clear and encouraging trend on The Economy, citing fresh reports showing private-sector job growth and lower Unemployment. He used his weekly radio and Internet address Saturday to discuss the latest economic news and press for Bipartisan action in the newly divided Congress on measures to spur growth. Obama presented the December jobs report in a positive light even though it fell short of what Economists had been looking for and even though t...

Obama Touts Jobs Progress
Last month, our economy added more than 100,000 Private Sector jobs and the Unemployment Rate fell sharply. This follows encouraging economic news from increased auto sales to continued expansion of our Manufacturing sector. Now, we know that these numbers can bounce around from month to month. But the trend is clear. We saw 12 straight months of Private Sector job growth - the first time that’s been true since 2006. The Economy added 1.3 million jobs last year. And each quarter was ...

Obama: Positive 'Trend is Clear' For Economy On the Upswing
In upbeat remarks, President Obama said Saturday that the drop in joblessness and a batch of tax benefits extending into the new year show that "the trend is clear" for an economy on the upswing. He urged Congress not to "re-fight the battles of the past two years" that took time away from the struggle to get The Economy back on track. The president used his weekly address to talk up the tax relief enacted by Congress in a Bipartisan Compromise last month and to put a positive light on the Dece...

Weekly addresses focus on deficit, jobs
(CNN) - Democrats and Republicans often spout plans to address the Budget and long-term Deficit, but in their weekly web and radio speeches charted different courses to achieve the goals. New House Majority Leader Rep. Eric Cantor targeted Health Care as the first order of business for the new Congress, saying in Saturday's address that repealing the Legislation would not only tackle care, but also decrease Government Spending and help businesses. "At a time when we need to do everything in our ...

The Economy and 2012
Tea Partiers, William Daley and David Plouffe, birthers, John Boehner, Sarah Palin, "the professional left" -- all will play marginal roles in deciding who wins the next Presidential Election. But almost nothing is likely to be as decisive as a single number: the Unemployment Rate. And so today's signs of continued Economic Growth, while superficially encouraging, don't offer much consolation for Barack Obama: “It could take four to five more years for the Job Market to normalize fully,...

Slouching Toward An Economist And Beltway Employment Nirvana
The only thing holding up official recognition that employment worries in this country are a thing of the past is a residual optimism among some sectors of the American public. This may sound like a contradiction at first, even an absurdity. But consider these numbers. We need about 125,000 new jobs a month in this country to keep up with Population Growth. The Economy during all of 2010 created on average of just 94,000 new jobs a month. Things were a bit better in December 2010 when 103,000 n...

In weekly address Obama focuses on jobs, urges Congress not to look back (Video)
In his weekly address released today President Obama renewed his administration's commitment to job growth, while also taking a veiled jab at Republicans for re-litigating old battles with their Health Care reform vote. In the video to the left, the President first notes the positive news from the December jobs report.  The report showed 103,000 Private Sector jobs created in 2010, which helped to lower the Unemployment Rate from 9.8% to 9.4%.  Still, the President stressed that the ho...

When one year beats eight
WHEN ONE YEAR BEATS EIGHT.... Back in April, Ron Brownstein made an observation that seemed hard to believe: "If The Economy produces jobs over the next eight months at the same pace as it did over the past four months, the nation will have created more jobs in 2010 alone than it did over the entire eight years of George W. Bush's presidency." Of course, that was before crises in Europe caused an international slowdown. It was easier to make that kind of prediction in April, when job growth lo...

Bernanke grows more confident in recovery
By Pedro Nicolaci da Costa WASHINGTON | Fri Jan 7, 2011 7:48pm EST WASHINGTON (Reuters) - The U.S. economy may finally be hitting its stride even if growth remains too weak to put a real dent in the nation's jobless rate, Federal Reserve Chairman Ben Bernanke said on Friday. Offering no real clues on the future direction of Monetary Policy, Bernanke sounded cautiously more upbeat than he had in his most recent public remarks. He cited improvements in Consumer Spending and a drop in jobless be...

Slow growth in jobs underscores challenge ahead
WASHINGTON (AP) — The U.S. economy is steadily adding jobs, but still just barely enough to keep up with the growth of the work force. The weakness underscores the nation’s struggle to get back to something resembling normal employment. The Economy added 103,000 jobs in December, a figure that fell short of what most Economists were hoping for. The Unemployment Rate did come down, to 9.4 percent from 9.8, but that was partly because people gave up looking for work. “The labor m...

Obama trumpets economic growth
President Barack Obama talks about the latest reports showing a decline in the Unemployment Rate as he highlights his economic policies in a Speech on the factory floor of the Thompson Creek Window Company in Landover, Md., Friday, Jan. 7, 2011. Obama also announced Gene Sperling as the new head of the National Economic Council. President Barack Obama is trumpeting private-sector job growth and lower Unemployment, telling the public that "the trend is clear" on The Economy — and it's enco...

Obama trumpets economic growth
The Private Sector added 103,000 new jobs in December and the Unemployment Rate fell from 9.8 percent to 9.4 percent. "Now, we know that these numbers can bounce around from month to month. But the trend is clear," said the president, whose 2012 re-election prospects may well hinge on the condition of The Economy. "We saw 12 straight months of Private Sector job growth—the first time that's been true since 2006," he said. The economy added 1.3 million jobs last year. And each quarter was ...

President Obamas Weekly Address
In his Weekly Address, the President listed some of the benefits he argues are now being realised as a result of the agreement that was struck on taxes in December. President Obama has been forthright in claiming early success from the Compromise, pointing to welcomed improvements on the economic front. Though he acknowledges that there is a long way to go, President Obama argues that the nation has shown signs of a positive economic trend. “Last month, our economy added more than 100,000 ...

President Obama discusses economic growth and tax cut stimulus package
Washington , D.C. - In his weekly address on Saturday, President Barack Obama praised the slow but tangible Economic Growth by the country in 2010 and briefly discussed the predicted impact that December’s stimulus package of Tax Cuts and business incentives will have on 2011 economic growth.  To view the video of President Obama’s weekly address, please click on the video link at the left of the page. WASHINGTON- In his weekly address, President Obama looked forwar...

Unemployment Rate Dropped Because So Many People Gave Up
This post originally appeared at Campaign for America's Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Unemployment Rate Dropped BecausThe new monthly job numbers are out. They are a little bit better than they have been, but they are not very good. We added very few jobs but the Unemployment rate went down. This is a function of a really bad economy in which people are so discouraged they aren't even bothering to look. So many people have given up that the Labor Force is actu...

What Congressional Republicans are dead set against
A successful Repeal of Health Care reform would revert us back to the old system for financing and delivering Health Care and lead to substantial increases in total medical spending. The consequences of this spending increase would be far reaching. It would hurt family incomes, jobs, and Economic Growth. Repealing health reform would: · Increase medical spending by $125 billion by the end of this decade and add nearly $2,000 annually to family Insurance Premiums · Destroy 250,000...