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Daily Archives: July 6, 2012


Economic Statistics for 6 Jul 12

Here are today’s statistics on the state of the economy:

The Monster Employment Index rose 6 points to 153, as online recruiting picked up in June.

The Employment Situation for June is dismal for the 3rd month in a row. Total non-farm payrolls increased by 80,000. The unemployment rate is unchanged at 8.2%. Hourly earnings increased by 0.3%, while Weekly hours increased by 0.1 hours to 34.5 hours. Private payrolls increased by 84,000. The U-6 unemployment rate, the broadest measure of unemployment/underemployment, rose 0.1% to 14.9%.  The labor force participation rate and the employment/population ratio are both unchanged at 63.8% and 58.6%, respectively. Both are the lowest since 1983.

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Dale Franks
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Jobs for June? Not many

But the “official” unemployment rate stayed at 8.2%.  The broader measure of unemployment – includes job seekers as well as those in part-time jobs – inched up from 14.8% to 14.9%.

GDP?  Predictions have been revised down:

Federal Reserve officials last month lowered their economic-growth projections to between 1.9% and 2.4% this year, and forecast the jobless rate would hold between 8.0% and 8.2%.

That’s not a recovery rate by any means (and given how accurate former predictions have been, I wouldn’t count on the unemployment rate staying as low as 8.2%).  But it is the reality of the situation and one that will definitely have an effect on the election.  That is if people are reminded of some promises made by the administration.  You remember these:

 

juneunemployment

 

Can you say “utter failure”?  Of course you can.  As with ObamaCare, the people were sold a bill of goods about the recovery plan.  In fact it ended up being a huge political payoff plan while our leaders told us they were focused like lasers on recovery.  4 years later, here we are.

We were supposed to be at 5.6% now, with the stimulus plan enacted. 

That was the promise.

Of course, this administration has promised all sorts of things it hasn’t delivered, so I’m sure that their failure here doesn’t necessarily come as a surprise to anyone but the media.

Forward.

~McQ

Twitter: @McQandO


Pan-Islamist Muslim Brotherhood takes over in Libya

Yes sir, that Arab Spring is really what we all wanted, isn’t it?  So much so that the US and NATO helped this particular one along.  In Libya:

While the elections for a 200-member National Congress is unlikely to grant a majority to any one faction, the Muslim Brotherhood and its Islamist allies are confident they can join their counterparts in Tunisia and Egypt at the helm of leadership.

Negotiations between the Muslim Brotherhood and a secular-based political movement led by former interim prime minister Mahmoud Jibril have focused on forming a post-election government as soon as the result is known.

An adviser to Mr Jibril said the former prime minister was likely to take the post of figurehead president with Mustafa Abu Shagour, currently interim deputy prime minister of the Muslim Brotherhood, taking the prime minister’s slot as head of government.

The Muslim Brotherhood would dominate the ministries.

And what pan-Islamist faction is positioned in Syria along with its militant al Qaeda brothers to take the reigns there when the current government eventually falls?

Why the same Muslim Brotherhood now ascendant in Egypt, Tunisia and Libya.

All good, right?

Exactly what we expected and wanted, right?

Foreign policy success, right?

Caliphate?  What Caliphate?

Forward.

~McQ

Twitter: @McQandO

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