Obama report: 95,000 jobs to come each month

[Omaha Steve]

Source: AP

By PHILIP ELLIOTT

WASHINGTON (AP) - The United States is likely to average 95,000 more jobs each month this year, while personal savings will remain high as credit remains tight, according to a White House report released Thursday.

The Council of Economic Advisers also trumpeted the $787 billion economic stimulus package, which it said has saved or created about 2 million jobs.

In a message to Congress, President Barack Obama pointed out that the economy he inherited was losing 700,000 jobs each month.

"I can report that over the past year, this work has begun. In the coming year, this work continues," Obama said in a letter he sent to the Capitol attached to his economic update to lawmakers. "But to understand where we must go in the next year and beyond, it is important to remember where we began one year ago."


Read more: http://apnews.excite.com/article/20100211/D9DPUFI00.html

[MannyGoldstein]

1. Which is 50,000 Less Than We Need To Break Even

After accounting for growth in the work force due to population growth.

[rfranklin]

2. I think that number is outmoded...300,000 per month would be progress...

That number has been floating around for years but the available workers have been increasing steadily with population increase. Combine that with massive unemployment and you have to come up with many more jobs than has been the norm.

[Donnachaidh]

10. does this report factor in the still huge numbers losing their jobs every month?

Please explain to me how 145K jobs per month is a break even figure when the numbers of job losses seem to float around 400K a month? I'm not being snarky, I really would like to know how this works out?

[rucky]

3. So we're looking at about a 10-year recovery?

[Robb]

8. Good guess. nt

[Demeter]

4. Is That Before or After the Layoffs and Business Failures?

What a load of manure

[OhioChick]

19. +1 n/t

[deacon]

5. And with bush or mccain we would be losing a million a month. It's a huge turnaround. n/t

[Better Believe It]

12. The projected "turnaround" will mean 10%+ unemployment rate this November.

Such a "huge turnaround" should guarantee the election of a bigger Democratic majority in the House and Senate this November.

All you have to do is convince the millions of unemployed that would be even more unemployed if McCain had been elected President.

A piece of cake.

[Odin2005]

6. What he forgets to say is that about 150,000 enter the work force every month.

[Shining Jack]

7. Nothing to boast about. Just another number magic trick.

"Facts are stubborn things,but statistics are more pliable."
- Mark Twain

[hayu_lol]

9. For all of us who remain without jobs, who have no savings left...

who have been waiting for the 'recovery,' (now something like waiting for the 2nd coming), 95,000 ain't shit. Pretty much over the past two years, we have been losing half a million jobs or more each month. Benefits for many have run out. Many more are only working 20-30 hours per week.

Savings become depleted very quickly.

What has the president been smoking? Which of his wealthy friends are telling him that jobs are on the way. Which advisors?

95,000 is not help, it is a disaster compounding previous disasters.

[Dappleganger]

17. You're right...

those of us who are caught empty-handed aren't very encouraged at all. We have to live with the reality of not just very few jobs being created, but very few jobs which pay a living wage.

[Mari333]

11. factor in the baby boomers applying for social security?

there is a wave of them coming, including me.

[ixion]

13. only marginally better than BushCo, and still far short -- by several orders of magnitude -- of the

number of jobs that need to be created each month, not only to break even, but to dig us out of the 10 million job hole that continues to grow.

[Xenotime]

15. I think if we give Obama a chance, we will see that number go up.

[ixion]

16. We're in Year Number 2 of his term

I'm willing to give him a chance, but he needs to stop sucking up to the MIC and the F.I.R.E vertical and start helping out Main St.

[cufford]

14. Not to mention...

Not to mention that if these jobs, like most other new jobs these days, are at or near minimum wage (they most surely will be), it not only will make zero positive difference in our nation's economic condition as a whole, but will only make matters worse since low wages (UNDERemployment) is the real problem, not UNemployment.

Theoretic 100% employment today, if at or near minimum wage for the masses, would have virtually no impact in even slowing our continued and ever accelerating plunge to third-world economic status.

Of course, all of this notwithstanding, when is that last time anything that comes from a "White House Report" and their "Council of Economic Advisors" meant anything but an alternate reality, in a reverse-parallel universe!

This is, of course, just more nonsensical happy talk - dare I call it, propaganda - from the powers that be.

[L0oniX]

18. OK ...I'm ready to hold my breath now.