Pres. Obama's Reality Land Happens On Thursdays - Page 2
Weaker hiring also pushed up the unemployment rate in May to 8.2 percent, its first rise in nearly a year.
The total benefit rolls fell to 5.8 million in the week ending May 26, the latest data available. That's a drop of 146,000 from the previous week.
For now, the economy appears to be sputtering. It expanded 1.9 percent in the first quarter, down from 3 percent in the October-December quarter. Growth isn't expected to improve much in the current April-June quarter.
Consumers remain cautious. Retail sales fell 0.2 percent in May, the Commerce Department said Wednesday, matching April's decline. It was the first back-to-back drop in two years.
The economy is still struggling three years after the recession officially ended in June 2009. Wages haven't kept up with inflation. State and local governments have continued to shed jobs.
The United States has regained less than 3.8 million [not the 4.4 million claimed by Pres. Obama in a press conference last week], or 43 percent, of the 8.8 million jobs lost during and immediately after the recession.
When the information has to do with monthly reporting figures, the true reporting of the figures happens about one-month later ... the same thing happens with quarterly economic indicators. Why can not the Federal Government report more truthful information at the original time the report is due? An adjustment within say, 5% or so can be understood and dismissed but a consistent miss-statement of information that is off by 15% or more is not understandable or should never be dismissed.
In a President Obama world, any report that has the possibility of a regressive or negative trend should never be taken as first reported. In fact, the trust in this 44th Presidency to be honest with the American people has eroded to the point that everything this executive branch and its bureaucracies reports can never be relied upon as based in reality ... this only happens in revision.