US unemployment rate falls to 9.4% because people gave up looking for work, jobs growth "far below m

Well, the kind of good news is that just over 100,000 jobs were added in December '09. The bad news? It takes a monthly jobs growth of about 100,000 just to keep up with population growth as kids mature into working-age. So the December number for jobs growth is realistically ZERO, but don't look for the establishment MSM to point that out. From the AP via The Detroit News:

The nation's unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months. That was because more people found jobs, but also because some people gave up on their job searches.

The Labor Department said today employers added 103,000 jobs in December, an improvement from November's revised total of 71,000 but far below most analysts' expectations.

Once unemployed workers stop looking for work, the government no longer counts them as unemployed.

Through all of 2010, the nation added 1.1 million jobs, or an average of 94,000 jobs a month.

Or, stated another way, the jobs growth fell short of the 100,000 needed each month just to keep up with population increase and is therefore negative. Can we now officially call the stimulus a failure? It has made the problem worse, not better. Keep in mind that in October of 2006 — just before the Democrats took Congress — unemployment was 4.4%. We have now been above 9.5% for 16 straight months until the December number. Obama promised that 3.5 million NEW private-sector jobs will be created by the $1.2 trillion stimulus bill ($800 billion + interest over 10 years since the US is bankrupt) by 2010. Instead, more than 3 million jobs have been lost. Here is what has been happening with Biden's 3-letter word since last year:

January US jobs lost: 598,000 jobs
February US jobs lost: 706,000 jobs
March US jobs lost: 742,000 jobs
April US jobs lost: 545,000 jobs
May US jobs lost: 345,000 jobs
June US jobs lost: 467,000 jobs
July US jobs lost: 247,000 jobs
August US jobs lost: 216,000 jobs
September US jobs lost: 263,000 jobs
October US jobs lost: 190,000 jobs
November US jobs lost: 11,000 jobs
December US jobs lost: 85,000 jobs
January US jobs lost: 20,000
February US jobs lost: 30,000
March US jobs lost: -162,000
April US jobs lost: -290,000
May US jobs lost: -431,000
June US jobs lost: 125,000
July US jobs lost: 131,000
August US jobs lost: 54,000
September US jobs lost: 95,000
October US jobs lost: -151,000
November US jobs lost: -39,000
December US jobs lost: -103,000

Total US jobs lost under Obama: 3,694,000 jobs

3.7 million fewer jobs to lose, and that's neglecting the corrections that were made to the jobs numbers from last year that showed even bigger losses. Recall that the stimulus package was supposed to stop the unemployment rate at 8%! A crisis could become a calamity? Remember that? Here's how that looks (via Michael's Comments):

Note that the blue lines are the numbers that Obama's team came up with. So the actual unemployment rate is not only worse that what would happen with porkulus, but even worse than was predicted without it. The stimulus bill was and is a fraud perpetrated by Obama on the American people to pay back his union hacks that got him elected. Nothing more, nothing less.

http://theblogprof.blogspot.com/2011/01/us-unemployment-rate-falls-to-94.html

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