Here are two back to back…. I’ll let you connect the dots
#1
http://www.house.gov/pelosi/press/releases/Aug03/prWherearetheJobs080103.html
Pelosi: Where Are the Jobs, Mr. President?
August 1, 2003
Washington, D.C. — House Democratic Leader Nancy Pelosi released the following statement today on the Bureau of Labor Statistics’ announcement that 470,000 people abandoned their job searches in July and that 3.2 million private sector jobs have been lost since President Bush took office:
“The fact is that President Bush’s misguided economic policies have failed to create jobs. Since President Bush took office, the country has lost 3.2 million jobs, the worst record since President Hoover. And today we learned that in July nearly half a million people gave up looking for a job.
“Job losses are taking a real toll on the financial security of American families. While Democrats are fighting for opportunity, jobs, and economic security for working families, Republicans continue to focus on helping those who need help the least.
“According to today’s survey, while the national unemployment rate dropped slightly, it still stands at a near record high. In addition, the unemployment rate for African Americans was still over 11 percent in July, and the unemployment rate for Hispanics was 8.2 percent in July.
“It is time for President Bush and the Republicans to get to work for all Americans, not just the elite few.”
#2
DATA SNAP:US Jan Jobless Rate Falls To 9.7%; Payrolls -20K
WASHINGTON (Dow Jones)–The U.S. unemployment rate unexpectedly declined in January, but the economy continued to shed jobs and revisions painted a bleaker picture for 2009, casting doubt over the labor market’s strength.
The unemployment rate, calculated using a household survey, fell to 9.7% last month from an unrevised 10% in December, the Labor Department said Friday. Economists surveyed by Dow Jones Newswires had forecast the jobless rate would edge higher to 10.1%.
Meantime, nonfarm payrolls fell by 20,000 compared with a revised 150,000 drop decline in December. Economists had expected payrolls to be flat. The December figure was revised down sharply from an originally reported 85,000 drop.
The Labor Department’s annual benchmark revision to the survey that produces the monthly payroll report painted a bleaker 2009 picture. Last year, job losses were almost 600,000 more than previously reported, the revisions showed.
The January report was influenced by several special factors that may not be consistent with the underlying jobs trend. Temporary hiring for the U.S. 2010 census collection helped the employment picture in January, while the unusually cold weather probably hurt it. The interaction of a very bad employment year in 2009 with January seasonal factors clouds the picture further, analysts warned ahead of the release.
“We will be inclined to treat either a very strong or a very weak employment report — particularly the payroll portion — with a greater than usual skepticism,” Goldman Sachs economist Andrew Tilton warned in a note.
The so-called “underemployment” rate–which includes everyone in the official rate plus those who are neither working nor looking for work, but say they want a job and have looked for work recently–fell to 16.5% in January from 17.3%.
So, where is “queen” Nancy now? Holding press conferences and asking “Where Are the Jobs, Mr. President?”
I haven’t heard that, have you?