BREAKING: Only 80,000 Jobs in June

This is third month in a row of lower than expected job growth–bad news for encumbents.

UPDATE—It’s now Recovery Summer 3.0.

UPDATE 2—Well, here’s one organization that’s hiring. But I’m not sure this is good news.

UPDATE 3—Here’s a chart from the Minneapolis Federal Reserve Bank that plots employment recovery for the U. S. recessions since WWII. Given the current trend line, one would expect that employment will return to 2007 levels in late 2014. That’s a 7-year delay.

Is it November yet?


UPDATE 5—More people went on SSDI than got jobs last month.


Well sure, Mr. President! Where can I get a job?!

[I]f I don’t have this done in three years, then there’s going to be a one-term proposition.

—Barack Obama

Is it November yet?

UPDATE—WaPo reports:

If the same percentage of adults were in the workforce today as when Barack Obama took office, the unemployment rate would be 11.1 percent. If the percentage was where it was when George W. Bush took office, the unemployment rate would be 13.1 percent.

UPDATE 2—Mitt Romney asks the President, “I have a simple question for you: Where are the jobs?”


Reuters reports that the 90 gigabucks spent on stimulating green companies has not come close to producing millions of high-tech jobs. (H/T, Hot Air) Fewer than 300,000 have been created at a cost of almost 110 kilobucks per job per year.

That kind of money could have financed the training of a generation of engineers and scientists who could have participated in developing new technologies that actually work in much the same way as their grandparents who trained via the GI bill produced the Apollo program, microprocessors, etc.

Joe Hill Was Wrong

It was the Wobbly organizer Joe Hill who coined the term pie in the sky in his 1911 song The Preacher and the Slave (“You’ll get pie in the sky when you die.”) When I say that Hill was wrong, I don’t mean that there won’t be a reward for some of us in the world to come. I mean that the bogus promise of pie in the sky (and now with ice cream bye and bye) has not come from religion but from the political left.

Consider green energy.

It was going to produce good jobs for the workers. Joe Hill would be pleased. It hasn’t. The green energy scam has often been just an opportunity to loot the Treasury. Subsidized companies are going bust. Wind farms are being idled. And so on.

Meanwhile, in the North Dakota, Pennsylvania, and upstate New York, new technology is ready to bring old fashioned oil and gas to market—if the greenies and their NIMBY allies will get out of the way.

Jazz Shaw has an interesting post on the subject. Oh, and I double dare you to click on the link he dares you to try.