Employment Data May Be the Key to the President’s Job

Gerald · 06-02-11, 12:31 PM

WASHINGTON — No American president since Franklin Delano Roosevelt has won a second term in office when the unemployment rate on Election Day topped 7.2 percent.

Seventeen months before the next election, it is increasingly clear that President Obama must defy that trend to keep his job.

Roughly 9 percent of Americans who want to go to work cannot find an employer. Companies are firing fewer people, but hiring remains anemic. And the vast majority of economic forecasters, including the president’s own advisers, predict only modest progress by November 2012.

The latest job numbers, due Friday, are expected to provide new cause for concern. Other indicators suggest the pace of growth is flagging. Weak manufacturing data, a gloomy reading on jobs in advance of Friday’s report and a drop in auto sales led the markets to their worst close since August, and those declines carried over into Asia Thursday.

But the grim reality of widespread unemployment is drawing little response from Washington. The Federal Reserve says it is all but tapped out. There is even less reason to expect Congressional action. Both Democrats and Republicans see clear steps to create jobs, but they are trying to walk in opposite directions and are making little progress.

http://www.nytimes.com/2011/06/02/bu...s.html?_r=1&hp

Note: Published: June 1, 2011

Onkel Neal · 06-02-11, 12:33 PM

Romney's in, where's my pom-poms.

Gerald · 06-02-11, 04:48 PM

Quote:

Originally Posted by Neal Stevens

Romney's in, where's my pom-poms.

Thanks for the contribution Onkel Neal,

Onkel Neal · 06-02-11, 08:15 PM

You're welcome, now we wait for the loony lefties to savage him, like they did their previous darling, McCain.

Takeda Shingen · 06-02-11, 08:37 PM

I am not sure that Mitt Romney has the legs to win in the general election.

mookiemookie · 06-02-11, 09:06 PM

Quote:

Originally Posted by Takeda Shingen

I am not sure that Mitt Romney has the legs to win in the general election.

He's the best candidate the GOP has at this point.

nikimcbee · 06-03-11, 09:40 PM

Quote:

Originally Posted by Takeda Shingen

I am not sure that Mitt Romney has the legs to win in the general election.

Don't you mean Palin? oh wait, that's not what you're talking about.

Lord Justice · 06-02-11, 12:47 PM

Quote:

Originally Posted by Vendor

Roughly 9 percent of Americans who want to go to work cannot find an employer.

Then Let me advise them to become loyal subjects of the crown, and be shot at! for six pence a day, during any upcoming revolt.

06-02-11, 12:31 PM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Employment Data May Be the Key to the President’s Job WASHINGTON — No American president since Franklin Delano Roosevelt has won a second term in office when the unemployment rate on Election Day topped 7.2 percent. Seventeen months before the next election, it is increasingly clear that President Obama must defy that trend to keep his job. Roughly 9 percent of Americans who want to go to work cannot find an employer. Companies are firing fewer people, but hiring remains anemic. And the vast majority of economic forecasters, including the president’s own advisers, predict only modest progress by November 2012. The latest job numbers, due Friday, are expected to provide new cause for concern. Other indicators suggest the pace of growth is flagging. Weak manufacturing data, a gloomy reading on jobs in advance of Friday’s report and a drop in auto sales led the markets to their worst close since August, and those declines carried over into Asia Thursday. But the grim reality of widespread unemployment is drawing little response from Washington. The Federal Reserve says it is all but tapped out. There is even less reason to expect Congressional action. Both Democrats and Republicans see clear steps to create jobs, but they are trying to walk in opposite directions and are making little progress. http://www.nytimes.com/2011/06/02/bu...s.html?_r=1&hp Note: Published: June 1, 2011 __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

06-02-11, 12:33 PM	#2
Onkel Neal Born to Run Silent Join Date: Jan 1997 Location: Cougar Trap, Texas Posts: 21,383 Downloads: 541 Uploads: 224	Romney's in, where's my pom-poms. __________________ SUBSIM - 26 Years on the Web

06-02-11, 08:15 PM	#4
Onkel Neal Born to Run Silent Join Date: Jan 1997 Location: Cougar Trap, Texas Posts: 21,383 Downloads: 541 Uploads: 224	You're welcome, now we wait for the loony lefties to savage him, like they did their previous darling, McCain. __________________ SUBSIM - 26 Years on the Web

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06-02-11, 08:37 PM	#5
Takeda Shingen Navy Seal Join Date: Mar 2000 Posts: 8,643 Downloads: 19 Uploads: 0	I am not sure that Mitt Romney has the legs to win in the general election.