Another month and another jobs report that's so bad it’s good. At least that’s how Wall Street will look at it, because free money from the Fed will now continue.
The economy added 162,000 jobs overall, well below the previous few months. Additionally wages and hours fell, meaning workers are bringing home fewer bucks.
You'll likely hear that unemployment fell but that was largely due to people giving up looking for work.
Obama’s best tactic so far for combating unemployment has been to convince people that there is no work for them, and where possible, use legislation to discourage full-time job creation, as we see is the case with Obamacare. Why create one job, when you can create two with half the benefit to the economy?
Only 222,000 Full Tiime Jobs Created in '13-Image Source:ZeroHedge
Known as the labor participation rate, the number of people who are participating in the workforce fell by .1%. The number of unemployed, not coincidentally, fell by 263,000 while the number of people not in the workforce increased by 240,000.
Nice how that works so well with all the other Obama math.
This is known to Obama as a “balanced approach.”
"The [jobs] report is disappointing, with weaker job growth in July compared to the first half of 2013," PNC senior economist Gus Faucher, speaking for the stock market, told ABCNews. "Despite the drop in the unemployment rate, the softer job growth in July, combined with the downward revisions to May and June, makes the Federal Reserve slightly less likely to reduce its purchases of long-term assets when it next meets in mid-September."
That means the stock market will likely continue to rise.
Overall the numbers add up to Obama being the worst jobs president in the history of the world, even if he is a “peacemaker” (HA! That’s just the kind of thing you get when you allow a Norwegians to award peace prizes on behalf of Sweden. The joke’s on you Sweden).
And the jokes on us too, but it’s no laughing matter.
That’s because Obama treats jobs like he did brain cells when he was a teenager. It kind of makes you wonder what he’s smoking now, besides the cigarettes he likely puffs in the Oval Office.
“They keep on talking about this — an oil pipeline coming down from Canada that’s estimated to create about 50 permanent jobs,” Obama said of the Keystone Pipeline, like he's unfamiliar with the details. “That’s not a jobs plan.”
Well if anyone would know what “not a jobs plan” looks like it would be the Amateur.
The emphatic “they” of course are Republicans.
But contrast the GOP plan with Obama’s plan, say, on Solyndra, which was Obama’s “keystone” jobs plan for “alternative energy.”
Of course Solyndra suffered from the same delusion that all of Obama's plans suffer from: that is, it lacked the requisite ingredients. It’s hard to create alternative energy jobs when your technology can’t produce any, um, energy.
Getting past the fact that Obama’s wrong about the number of jobs created by the Keystone pipeline, 50 permanent jobs created by Keystone looks a lot better than the 500 permanently unemployed people created by Solyndra.
But even that is beside the point.
Ask Obama where jobs are really being created in this country. Seriously. Ask him, I’m not sure he knows.
Because, it’s not in the president’s unnamed fantasy states Number 56 and 57 where jobs are coming from. It’s in the Republic of Texas and the Republic of North Dakota where oil and gas energy’s a’boomin’.
“With a growth rate five times the national average, it’s time to recognize the enormous potential emerging up North,” said Business Facilities magazine’s editor-in-chief Jack Rogers. “North Dakota is generating so many jobs, newcomers are sleeping in their cars while new housing is built.”
Please note the difference here in plans: People sleeping in their car FOR a job. With Obama's plan, people sleep in cars, but not on purpose.
Business Facilities covers corporate expansion and relocation and is targeted for C-level executives who are the decision-makers on where a company locates or expands its business.
“The results from our most recent rankings had us tempted to restructure our annual evaluation of the states into a new configuration: Texas and everybody else,” Rogers said. “The Lone Star State repeated its success in our 2012 rankings with a tour de force just as impressive in our 2013 package.”
Fortunately for the White House, they can say the same thing: Their performance on jobs and the economy in 2013 has been a repeat of 2012, 2011, 2010 and 2009.It's a true tour de farce, proving that where jobs are concerned, Obama's in his own category.
There is President Obama and President Everyone Else.