The gruesome numbers:
Contrary to the assertions of President Obama, the private sector has not produced 2 million jobs since January of 2009 when he was inaugurated. He lied one more time.
In January 2009 the Bureau of Labor Statistics, in its Employment Situation News Release, showed that total employment in the United States was at 142.1 million. Of that number, 22.4 million were employed by governments at all levels. Thus, 119.7 million were in the private sector, and the overall unemployment rate was 7.6 percent.
Fast forward to June of 2011; the Employment Situation News Release for that month revealed that total employment was at 139.3 million (a drop of 2.8 million from January 2009). Within the total employment number were 22.1 million government workers at the federal, state and local levels. In summary, there were 117.2 million employed in the private sector, a decline of 2.5 million. The overall unemployment rate was 9.2 percent.
The reality is 2.5 million jobs in the private sector have been eliminated since President Obama assumed office.
When this is combined with the fact that 2 million new applicants for jobs enter the work force each year, Obama is really behind in the creation of 7.5 million jobs just to maintain the same unemployment percentage he inherited.
Another 3 million will enter the work force by the end of 2012, so he needs to create 10.5 million jobs by the end of 2012 just to get back to the 7.6 percent unemployment that was in effect when he took office.
Obama needs to create 617,000 new jobs each month just to break even with what he inherited. To date, the average has been more like 50,000 per month – and that is with all of Obama’s spending … a $1.75 trillion federal deficit, $700 billion per year increase to the government budget, QE1, QE2, bank bailouts, auto-union bailouts and the $800 billion stimulus bill.