June 3, 2011

Oblivious
The Obama Administration Is Blind To The Disaster Their
Policies Have Created And Its Toll On The Economy
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Click To Watch The Disconnect Between The White House And The Economy

DEBBIE WASSERMAN SCHULTZ: “You've Got An Economy That Is -- Is Really Beginning

To Pick Up The Pace.” (CNN’s “The Situation Room,” 6/2/11)
PRESIDENT OBAMA: “And As Debbie Mentioned, Because Of The Actions We Took, The
Economy Is Now Recovered; It’s Growing Again.” (President Obama, “Remarks By The President At A DNC Event,”
Washington D.C., 5/19/11)

OBAMA’S ROSY ECONOMIC RHETORIC IS “RINGING HOLLOW” AFTER THIS MORNING’S

“DISASTER” OF A JOBS REPORT
Politico’s “Playbook”: “0-100K - Disaster.” (Mike Allen, Politico’s “Playbook,” 6/3/11)
MSNBC’s Kelly Welker: “Make No Mistake About It, These Numbers Are Dismal.” (MSNBC’s “Daily Rundown,”
6/3/11)

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CNBC’s Carl Quintanilla: “Unclear How Obama Is Going To Spin These #Jobs Numbers In Toledo.
(Woulda Been Worse W/O Stimulus" Ringing Hollow.)” (Carl Quintanilla, Twitter Feed, 6/3/11)
Job Growth Has Been “Anemic” And Has “Slowed Dramatically” To An Eight-Month Low
ABC News: “Anemic Jobs Growth, Higher Unemployment Bodes Ill for Economy.” (Susanna Kim And Bill McGuire,
“Anemic Jobs Growth, Higher Unemployment Bodes Ill for Economy,” ABC News, 6/3/11)

The Wall Street Journal: “U.S. Hiring Slowed Dramatically In May And The Unemployment Rate Kept
Rising, Adding To Concerns The Jobs Market Will Take Years To Heal As The Economy Remains
Weak.” (Luca Di Leo and Jeff Bater, “Unemployment Rises As Hiring Slows,” The Wall Street Journal, 6/3/11)
The Associated Press: “Employers Added 54,000 Jobs In May, Fewest In 8 Months; Unemployment
Rate Rose To 9.1 Pct.” (“Employers Added 54,000 Jobs In May, Fewest In 8 Months; Unemployment Rate Rose To 9.1 Pct.” The Associated Press,
6/3/11)

MarketWatch: “Job Growth Decelerated Sharply In May, The Labor Department Said Friday.” (“Job Growth
Slows To 54,000 In May, Rate Up To 9.1%,” MarketWatch, 6/3/11)

National Journal: “The Number Was Shockingly Low … It's Been A Bad Week For The Economy.” (Katy
O’Donnell, “Economy Picks Up Just 54,000 Jobs; Unemployment Rises Slightly,” National Journal, 6/3/11)

“BEYOND THE HEADLINES, THINGS LOOK IF ANYTHING EVEN WORSE” IT TAKES A

RECORD 39.7 WEEKS TO FIND A JOB, ONE-THIRD UNEMPLOYED FOR OVER A YEAR
Reuters’s Felix Salmon: “There’s No Need To Look Beyond The Headlines This Month: Both The Jobs
Report And The Unemployment Numbers For May Are Telling The Same Grim Story.” (Felix Salmon, “Jobs Fail,”
Reuters, 6/3/11)

Salmon: “Beyond The Headlines, Things Look If Anything Even Worse … The Average
Duration Of Unemployment, For Instance, Just Hit Another New Record At 39.7 Weeks.” “If you
do want to go beyond the headlines, things look if anything even worse: the average duration of
unemployment, for instance, just hit another new record at 39.7 weeks; a full 44% of all unemployed
people have now been jobless for more than six months.” (Felix Salmon, “Jobs Fail,” Reuters, 6/3/11)
Salmon: “On Top Of That” Job Numbers Were Revised Down 39,000 Jobs For March And April.
“And on top of that, it turns out that the government’s statisticians were overly optimistic for the past
couple of months: the payrolls numbers for March and April were revised downwards by 39,000
jobs.” (Felix Salmon, “Jobs Fail,” Reuters, 6/3/11)
The Wall Street Journal: Almost One-Third Of The Unemployed Have Been Out Of Work For Over A
Year. “With nearly a third of the unemployed out of work for over a year, it makes their reintegration back
into the labor market more and more difficult. People out of a job that long tend to lose skills and experience
long-term effects on their lifetime earning power.” (Phil Izzo, “Nearly 1 In 3 Unemployed Out Of Work More Than A Year,” The Wall Street
Journal’s “Real Time Economics”, 6/3/11)

“Weakness In Hiring” Is Widespread In This “Unusually Frail” Recovery

The New York Times:” “The Problem, Of Course, Is That This Recovery Has Been Unusually Frail.” “The
problem, of course, is that this recovery has been unusually frail; usually a sharp recession like the one that
began in 2007 is followed by an equally sharp recovery, whereas this time growth has been very slow.” (Catherine
Rampell, “Hiring in U.S. Slowed in May With 54,000 Jobs Added,” The New York Times, 6/3/11)

ABC News: “Weakness In Hiring” Was Widespread” Manufacturers Cut Jobs For The First Time In
Seven Months, Including 3,400 Jobs In The Auto Sector. “The weakness in hiring was widespread.
Manufacturers cut 5,000 jobs, the first job loss in that sector in seven months. That included a drop of 3,400
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jobs in the auto sector. Car makers are cutting back on production because they are having a difficult time
purchasing parts.” (Susanna Kim And Bill McGuire, “Anemic Jobs Growth, Higher Unemployment Bodes Ill for Economy,” ABC News, 6/3/11)
ABC News: In Addition, Retailers, Restaurants And Hotels Slashed Jobs. “Retailers cut 8,500
positions, after adding 64,000 in April. Leisure and hospitality which includes restaurants and hotels,
cut 6,000 jobs. That came after they added an average of 43,000 in the previous three months.” (Susanna
Kim And Bill McGuire, “Anemic Jobs Growth, Higher Unemployment Bodes Ill for Economy,” ABC News, 6/3/11)

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