barackobamasmiling

Obama’s Final Jobs Report: 75th Month Of Growth

The Washington Post reports:

The U.S. economy added 156,000 new jobs in December, according to government data issued Friday. The final issued by the Labor Department during President Obama’s administration showed the unemployment rate at 4.7 percent, slightly up from 4.6 percent the previous month. Economists surveyed by Bloomberg had expected American companies to add 180,000 jobs in the month.

December marks the 75th straight month of job growth – the most extended streak the country has seen since 1939. The number of new jobs added each month has gradually slowed as the economy recovers from the depths of the recession, from average monthly gains of 251,000 in 2014 to 229,000 in 2015 and 180,000 in the first 11 months of 2016. However, that’s still far above the level of new jobs needed to keep up with population growth, economists say.

From the New York Times:

For all his criticism of Mr. Obama’s economic stewardship during the campaign, Mr. Trump inherits an economy that is fundamentally solid. Consumer sentiment, corporate profits and the stock market are all at or near multiyear highs.

To be sure, the economic worries that enabled Mr. Trump to capture the Rust Belt and in turn the White House persist: The future for Americans without a college degree or specialized skills is dim; millions of former workers are still on the sideline; and factory jobs are disappearing.

Although it is not reflected in the December figures, many low-wage workers are receiving a raise this year, as 19 states increased the local minimum wage. Some of the increases were substantial, with Arizona, Maine and Washington each raising the floor by $1.50 or more per hour.

Even in California, where the wage gain is not as steep, rising 50 cents an hour, one in 10 workers has received a raise. And minimum-wage gains can have a spillover effect, pushing up pay for workers just above the bottom salary tier.

As on many issues, Mr. Trump has sent conflicting signals on this subject, suggesting at times during the campaign that state increases were justified, but warning in primary debates that wages were “too high.”

  • BudClark

    Dear President and Mrs. Obama,

    We will miss you TERRIBLY. We know you deserve a rest after eight years of unrelenting hatred and abuse from racist Republicans, but PLEASE do what you can as private citizens to help rebuild the Democratic Party, and save us from the detestible enormities of The Orange Strumpet Monster and his orcs.

    With ENORMOUS respect, admiration, and affection, I remain

    Sincerely yours,

    Raymond H. Clark
    Cathedral City CA U.S.A.

    • DaddyRay

      co-sign

      • The Return of Traxley

        Add me too, please.

    • TampaZeke

      Hear, Hear!

      I sign my name to this declaration JOHN HANCOCK style!

  • Frostbite

    Thanks Obama!

  • DaddyRay

    Don-the-Con will take credit for wage increases which were actually due to the minimum wage increase next month

    • Oh’behr

      You forgot Commie after Con. Just teasing you.

    • Todd20036

      Minimum wage increase??
      GOP will “fix” that.

  • Skokieguy [Larry]

    Remember that our economy is largely driven by consumer spending. All the people who have had their wages boosted will have the ability to buy more goods and services.

    This will be a significant boost to the economy that will only be occurring this year (after higher wage laws take effect). Of course Trump will claim credit for the improved consumer spending.

    • DaddyRay

      Exactly – low income wage earners spend every extra dollar they get, part of the reason tax cuts for the rich do nothing because they just move the money offshore

  • AtticusP

    Thank you, Mr. President.

    And, once again: fuck the 22nd amendment!

    • Earl

      Ronald’s third term would have been awesome… Or not.

      • AtticusP

        Either way, he probably wouldn’t have remembered a moment of it.

        Until noon on January 20, 2017, Reagan was probably our most mentally impaired chief executive.

  • crewman

    Anticipating Trump: Pitiful job report. If I had been President it would have been twice that. It’s only improving now because businesses know a real leader is coming.

    • DaddyRay

      Don-the-Con tried to take credit for Novembers better than expected jobs report because he was elected. Now that December is not as good as expected he will say something exactly like your comment.

    • Jerry

      I’m anticipating about 4-6 months from now, when the jobs and economic data are not so great, because Goldman, Sachs, & Trump, Inc. have removed Obama’s economic policies/team…it will then be Obama’s fault.

  • Oh’behr

    Okay, since the GOP has always done it, I blame OBAMA.
    (In a most nice way, though).

    • Oh’behr

      PS … You were a classy President. Thank you President Obama. I will miss you and Michele. What follows is a classless act. Sigh. I hope our country will survive it. I don’t think we will thrive much in the Trump years. Sadly. As they will be class based, yet not have class as they did during the Obama years.

  • Oikos

    It’ll all be yours soon, dump and then you will own it from the 20th on.

  • Jeffg166

    Now back to the GOP fantasy world.

  • TJay229

    Lawd…. I ❤️ That. Man!

  • Bill_Perdue

    The Democrats claim of a recovery is a sick joke. A joke that few bought into. Estimates vary but roughly 45% boycotted the elections and the last 8 years have been disastrous for Democrats.

    “His legacy regrettably includes the more than 1,000 Democrats who lost their elections during his two terms. Republicans now have total control in half of America’s states. Why such political carnage?”

    “Faced with the economy’s potential collapse as he took office, Mr. Obama devoted his presidency to the economic recovery, starting with restoring the financial sector. But he never made wage stagnation and growing inequality central to his economic mission, even though most Americans struggled financially for the whole of his term.”

    “At the same time, Mr. Obama declined to really spend time and capital explaining his initiatives in an effective way. He believed that positive changes on the ground, especially from economic policies and the Affordable Care Act, would succeed, vindicating his judgment and marginalizing his opponents.” http://www.zerohedge.com/news/2016-12-23/mutiny-or-acceptance-democrats-ask-was-barack-obama-bad-democrats
    https://uploads.disquscdn.com/images/1f50fd355fcd9e02f51966fb0c52f56826380edda2faf02127c126544b9cf0f3.png

    The BLS monthly jobs report –always chock full of useful information about the state of the working class—was released last Friday as the election campaign enters the final month. It was kind of lost in the shuffle between Hurricane Matthew and new outrage about the misogynist Republican nominee. That was just fine with his Democrat opponent.

    BLS says, “The unemployment rate, at 5.0 percent, and the number of unemployed persons, at 7.9 million, changed little in September. Both measures have shown little movement, on net, since August of last year.”

    That’s the “official” unemployment stat. But also reported, there are an additional 1.8 million long-term jobless now designated as only “marginally attached to the workforce” and another 5.9 million are listed as “involuntary part-time”—both numbers essentially unchanged. Combined as the “real” unemployment, these three measures show a job creation that has become stalled—hardly keeping up with new first-time job seekers–while leaving behind 15.6 million who want full-time jobs but can’t find one. … A lot more could be expected—especially after a record year of auto sales and a rebound in housing. The old vaunted “Middle Class” still exists on a much smaller scale but the dream of younger generations to join it—or middle aged workers to rejoin after being pushed out–is still elusive after seven + years of “recovery.” … The average work hours per week for private sector “nonsupervisory and production employees”—that includes the majority of the working class—was only 33.5. The average hourly wage for the same category rose 5 cents to 21.68. That works out to an average annual wage of 37,766.http://kclabor.org/wordpress/?p=943

    From KC Labor http://kclabor.org/wordpress/

  • IamM
    • Acronym Jim

      Awesome! The Glee guys are moving to Pittsburgh to get jiggy with the QAF sluts!

      BEST. MASHUP. EVAH!

  • billbear1961
    • billbear1961

      With NO help from goddamned Republicans; indeed, while they did everything in their goddamned power to HARM the recovery as much as possible, the fucking TRAITORS.

      And FUCK the corporate media who consistently REFUSED to make this crystal CLEAR to the American people.

      God DAMN them ALL, the sellout WHORES!!

    • The_Wretched

      Obama 1st term had to recover from a 8% GDP loss under shrub-yah.

    • Duh-David

      But everyone here in Buggywhip, West Virginia still don’t have no jobs.

    • The Return of Traxley

      Cue Kellybeast and Spicer to deny this and counter it with “facts” from Daily Caller, Breitbart, and Twitchy.

      • Acronym Jim

        No, they will cherry pick it. “SEE? Gun buyer checks up 58%! Don’t say we didn’t warn you!”

  • The Return of Traxley

    …Then the President concluded his remarks with a final parting comment: https://uploads.disquscdn.com/images/3e6bd0930fe7098c606f034ac5e3ba0ddcef41584ccfda6f07ce27dfd472f97d.gif

  • The_Wretched

    Jobs are something we can wave good-by too as well. Like Henry Ford said, if you pay your workers well, they can buy what you’re selling. Republican looting policies will mean noone has income to spend on things and that sets up an economic death spiral. The only question is when.

    • billbear1961

      There may be a gangster capitalist shark feeding frenzy and a “bubble” for a while–they may pump things up with infrastructure spending now that THEY control everything–but–assuming there’s no terrorist/military crisis beforehand–the looting, gross fiscal irresponsibility and destruction of the social safety net (such as it is) that they have planned will, sooner or later, lead to . . .

      https://www.youtube.com/watch?v=156OxRM_ZQE

  • Dreaming Vertebrate

    Thanks Obama.
    This little dino still remembers Bush’s Great Recession. What a nightmare.
    Now look out for Trump’s global economic meltdown. Will make the Bush years look rosy by comparison.

    • billbear1961

      Economic meltdown, Constitution-gutting, terrorist attacks on U.S. soil and abroad, nuclear proliferation and diplomatic catastrophes.

      But, by all means, let’s PRETEND this COUP and what’s coming are NORMAL.

      They–especially the useless SCUM in the “news” media–expect us to march merrily over a CLIFF with these goddamned fascist TRAITORS, THIEVES and BIGOTS at the helm, Dino, sweetie.

      I am beyond DISGUSTED.

      I do not and will not CONSENT!!

      • Dreaming Vertebrate

        #NotMyFrigginPresident

        • Dreaming Vertebrate

          #NotMyPuppet

  • Earl

    Trump’ll fix that, right quick.

    uh oh…

  • Talisman

    Of course, this just gives the dumpster more jobs to destroy.

  • Hue-Man

    Paul Krugman of NYT is firing on all cylinders in his column “The Age of Fake Policy”. He’ll be struggling for 4 years as the media continue to be manipulated by Trump.

    In other words, it may have sounded as if Mr. Trump was doing something
    substantive by intervening with Carrier, but he wasn’t. This was fake
    policy — a show intended to impress the rubes, not to achieve real
    results.

    Sorry, folks, but headlines that repeat Trump claims about jobs saved,
    without conveying the essential fakeness of those claims, are a betrayal
    of journalism. This is true even if, as often happens, the articles
    eventually, quite a few paragraphs in, get around to debunking the hype:
    many if not most readers will take the headline as validation of the
    claim.

    http://www.nytimes.com/2017/01/06/opinion/the-age-of-fake-policy.html?emc=edit_th_20170106&nl=todaysheadlines&nlid=4646989&_r=0

  • According to a republican neighbor none of this matters because President Obama doubled the national debt. https://uploads.disquscdn.com/images/a472aaba740cc919575b4de6d8b1939bef5b3e587f515915d212be5b69ac0b2d.jpg

  • TampaZeke

    After years of peace and unprecedented (AKA “unpresidented”) prosperity, the stupid American people decided we needed to go in a different direction and voted for, and the Supreme Court appointed, George W. Bush who, along with a Republican Senate and House, ran our country, LITERALLY, to the brink of depression. After eight years of Obama fixing the economy and restoring our international reputation the American people have once again decided that they are unhappy with the direction of the country and want to turn things back over to the Republicans.

    FUCKED UP!

  • JCF
  • Platos_Redhaired_Stepchild

    Thanks, Obama! <3 <3 <3