In response to October’s abysmal employment numbers, the Alliance for Worker Freedom sent out the follow press release:
Click here to view AWF’s press release as a PDF Document
While Obama officials tout the success of the stimulus the American economy continues to shed jobs. The Obama administration boasts that “stimulus” spending has “saved or created 650,000 jobs,” a claim that doesn’t stand up to even minimal scrutiny.
The Center for Fiscal Accountability (CFA) highlights a few instances where, at best, the Obama administration was plain wrong, and, at worst, is guilty of cooking the books. CFA links to an AP article that reports:
President Barack Obama’s economic recovery program saved 935 jobs at the Southwest Georgia Community Action Council, an impressive success story for the stimulus plan. Trouble is, only 508 people work there.
About two-thirds of the 14,506 jobs claimed to be saved under one federal office, the Administration for Children and Families at Health and Human Services, actually weren’t saved at all, according to a review of the latest data by The Associated Press. Instead, that figure includes more than 9,300 existing employees in hundreds of local agencies who received pay raises and benefits and whose jobs weren’t saved.
While the Obama administration is busy trying to come up with 650,000 jobs it saved or created, the Alliance for Worker Freedom highlights some painfully real numbers.
- The unemployment rate is the highest since 1983 at 10.2 percent
- Male and teenage unemployment is the highest since The Great Depression
-Unemployment rate for males is 10.7 percent
-Teenage unemployment is 27.6 percent
- Over 30,000 potential workers left the U.S. labor force in October
- Labor force participation is the lowest since 1986 at only 65.1 percent
- Construction industry lost 62,000 jobs
-Heavy construction fell 13,700 as well in October
- Manufacturing jobs lost 61,000
-Auto-manufacturing gained 4,600 marking two months of growth
- October saw the worst economic climate for business loans in 50 years
-In September, loans contacted at an 11 percent annual rate
- In the past year, business investment as fallen 19 percent
- New hires have fallen 17 percent in the past year
- The U.S. has lost at least 2.8 million jobs since President Barack Obama signed the “stimulus” package into law on Feb. 17