Archive for bikini graph – Page 2

Bikini Graph time! 169k new jobs, jobless rate dips to 7.3%, Obamacare not "significantly hindering job growth"

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bikini itsy bitsy

It’s time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration. This comes to us from the Maddow Blog, courtesy of the wonderful Steve Benen:

bikini graph September 2013 overall

bikin graph September 2013 private sector

The new report from the Bureau of Labor Statistics shows the U.S. economy added 169,000 jobs in August, which is roughly in line with expectations. After years of public-sector layoffs serving as a drag on the overall economy, we're starting to see a slight turnaround -- the private sector added 152,000 jobs last month, while the public sector added 17,000 jobs. That may seem like a fairly modest number, but it's the most in recent memory.

The overall unemployment rate dropped to 7.3%, which is the lowest it's been in nearly five years, but it's not evidence of good news -- it ticked down largely because of people leaving the workforce [...]

All told, so far in calendar year 2013, the economy has added 1.44 jobs overall, and 1.47 million in the private sector.

For more analysis by Benen, follow the link.

Earlier Paddy posted "Video- Fox's Stuart Varney Previews Jobs Report By Pushing Myth About Obamacare Causing Part-Time Employment." When in doubt, blame Obama, right Stewy?

He should have checked out this Los Angeles Times report. It's an assessment of the Affordable Care Act's effect on the economy from Mark Zandi, chief economist of Moody’s Analytics:

Zandi said the labor market was holding up well despite the drag from the automatic federal spending cuts and implementation of the healthcare reform law. Although there would be more hiring without those two factors, he said there's no indication they are significantly hindering job growth.

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Bikini Graph time! Unemployment rate reaches lowest point in nearly 5 years

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bikini itsy bitsy

It’s time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration. And today we get a bonus graph, courtesy of the wonderful Steve Benen:

graph chart unemployment Obama benen Maddow

Incidentally, the other main Republican talking point on jobs for much of Obama's first term was that the net total of jobs gained on the president's watch is zero. It was always a ridiculous argument -- it was predicated on the assumption that Obama deserved the blame for the jobs lost a couple of weeks after his inauguration -- but it looks even sillier now. To date, the net gain for jobs under Obama is about 2.1 million overall and nearly 2.8 million in the private sector.

And here are the Bikini Graphs. The Maddow Blog has more details. Benen starts by calling the jobs report "underwhelming" because the 162,000 jobs added in July were below expectations. However, there was a glimmer of positive news, too:

bikini graph August 2013 overall

bikini graph August 2013 private sector

In a rare sight, public-sector layoffs were not a drag on the overall totals -- the private sector added 161,000 jobs, while the public sector added 1,000 jobs. (In recent years, the public sector ordinarily sheds several thousand jobs per month). The overall unemployment rate dropped to 7.4%, but largely because of people leaving the workforce. [...]

We're steadily adding jobs every month at rates above population growth, but we're seeing neither a hiring boom nor a deteriorating employment landscape. It's just ... leveled off.

Money quote (no pun):

Republican leaders remain committed to sequestration cuts that are holding back job creation on purpose, and are focused primarily on spending bills that punish those already struggling.

I made similar points here: Boehner wants Pres. Obama to destroy a growing economy.

So far this year, 1.34 million jobs were added overall, 1.37 million in the private sector.

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Bikini Graph time! "Not only good news, but unexpectedly good news": Job growth improves, exceeds expectations

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bikini itsy bitsy

It’s time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration:

bikini graph private sector July 2013 bikini graph overall July 2013

Wait, what? The blue bars still are still pointing UP. Imagine that.

Via Steve Benen at The Maddow Blog, where there’s more:

[T]he new report from the Bureau of Labor Statistics shows not only good news, but unexpectedly good news.

The U.S. economy added a better-than-expected 195,000 jobs in June and employment gains for May and April were revised sharply higher, the U.S. government said Friday. The unemployment rate was unchanged at 7.6%, but the size of the labor force increased by 177,000, according to the Labor Department said.

As is usually the case, there was a gap between the two major sectors -- America's private sector added 202,000 jobs last month, while spending cuts caused the public sector shed 7,000 jobs.

Yes, once again, thanks to Republican union-haters-slash-privatization-lovers, we're losing pubic sector jobs that, had they grown the way the Dems wanted them to via more stimulus, the unemployment rate would have plunged.

But Benen does come up with additional upbeat news anyway-- Hide your ears, GOP!-- that "the most important -- and most heartening -- detail in this new report is the upward revisions for the previous two months; the period from April through June is the best we've seen since early 2012."

He goes on to note that for the first half of 2013, we has added 1.21 jobs overall, and 1.23 million in the private sector.

To quote, Benen, that's "not too shabby."

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Bikini Graph time! Recovery remains broadly on track: 175,000 jobs added in May, best since February

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bikini itsy bitsy

It’s time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration:

bikin graph June 2013 overall bikini graph June 2013 private sector

What th--? The blue bars still are still pointing UP. Imagine that.

Via Steve Benen at The Maddow Blog, where there’s more:

The U.S. economy added 175,000 jobs in May, slightly better than expected, though the overall unemployment rate inched higher to 7.6%. (Update: Remember that these minor increases aren't always bad news, and occasionally, they're sign of an improving jobs landscape.) As is usually the case, there was a gap between the two major sectors -- America's private sector added 178,000 jobs last month, while spending cuts caused the public sector lose 3,000 jobs [...]

Federal hiring declined by 45,000 over the last three months, suggesting that Congress' sequestration budget cuts are doing what they were intended to do -- hurting the economy.) [...]

All told, job creation in May was the best we've seen since February and marks the 39th consecutive month of job growth. For the first five months of the calendar year, the economy has added 946,000 jobs overall, and 972,000 in the private sector.

Again, the GOP has reveled in slashing “government workers” as if they are something less than, as if their jobs aren’t really jobs at all, as if there is something inherently inferior about what they do to get by. Busting unions and privatizing America is the goal of those on the right.

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U.S. budget surplus biggest in 5 years; federal deficit is down 32% so far this fiscal year

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chart budget deficit shrinks 4 year low Steve Benen Maddow Blog Oct 2012

If Fox Biz says it, it must be true. Via an email alert:

The U.S. federal budget surplus came in at $112.9 billion in April, up from $59 billion in the same month in 2012. The government is running a $488 billion deficit for fiscal 2013, down from $720 billion in a comparable period in fiscal 2012.

And via Market Watch:

It was the first monthly surplus since January and the biggest monthly surplus since the $159 billion budget surplus of April 2008.

Tax receipts were $407 billion, up 28% versus April 2012 [...]

Some see the government’s improving finances as affecting a potential debt deal between President Barack Obama and Republicans. “With the deficit plunging, support for entitlement reform — which looked so promising in early April — has clearly faded,” wrote Greg Valliere, chief political strategist at Potomac Research Group in a note on Friday.

Gee, taxes were raised, unemployment is down, and the world didn't end.

bikini graph May 2013 private sector

Everybody say it with me now: Blame Obama.

blame obama Bush's fault

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Bikini Graph time! Jobs added, unemployment rate down to 7.5%, lowest in 4/12 years

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bikini itsy bitsy

It’s time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration:

bikini graph May 2013 overallbikini graph May 2013 private sector

Paddy gave us the quickie version here, but as always, the wonderful Steve Benen at The Maddow Blog has provided the Bikini Graphs and more, including more details you can find at the links here and here. A couple of excerpts from both links:

For most of President Obama's first term, one of the more common Republican talking points focused on the overall unemployment rate: it was stuck above 8%, a fact they blamed on the president who inherited a global economic crisis.

You may have noticed that this GOP talking point has since vanished.

As of today, the unemployment rate is down to 7.5%, which is not only the lowest point of the Obama presidency, but also the lowest since late 2008. It's dropped a full point in the last year and a half, a 2.5 points since its October 2010 high.

It's also one of the fastest improvements in the jobless rate in the last 30 years...

He goes on to say that, since President Obama took office, the net jobs gain is over 1.5 million overall and over 2.2 million in the private sector.

And:

As is usually the case, there was a gap between the two major sectors -- America's private sector added 176,000 jobs last month, while spending cuts caused the public sector lose 11,000 jobs.Of course, these are preliminary totals that will be updated in the coming months, and therein lies the key importance to this new jobs report: the revisions... Also note, the February job totals, the best in eight years, came after January's tax hikes, but before the sequester. [...]

[W]ere it not for Congress and sequestration cuts, the nation's economic recovery would likely be quite strong right now. Were it not for the lawmakers Americans elect to represent our interests, and their ongoing efforts to take capital out the economy and slash public investments, job growth would probably be very robust.

graph benen Maddow blog unemployment under ObamaOh, and there's this via a Fox Biz email alert:

The blue-chip average topped the 15000 mark for the first time ever as traders cheer a round of strong data on the U.S. labor market. The broader S&P 500 also hit a milestone, surpassing the 1600 threshold for the first time. The two market barometers are up more than 1% on the day and 13% for the year.

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Bikini Graph time! Job added, but totals stumble; unemployment rate to 7.6%, lowest since December 2008

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bikini itsy bitsy

It’s time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration:

bikini graph April 2013 overall bikini graph April 2013 private sector

At least the blue bars still are still pointing UP.

Via Steve Benen at The Maddow Blog, where there's more:

The Bureau of Labor Statistics reported this morning that the U.S. economy created just 88,000 jobs in March, the worst in the last 10 months. As is usually the case, there was a gap between the two major sectors -- America's private sector added 95,000 jobs last month, the public sector lost 7,000 jobs, though most of those totals were driven by Post Office layoffs.

The news is awful, but there was a silver lining: totals from January were revised up to 148,000 jobs (from 119,000), while February was revised up to 268,000 (from +236,000). The additional 61,000 jobs helped push the unemployment rate to 7.6%, its lowest point since December 2008.

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