05
Sep
14

President Obama And U.S. Economy: 1; Republicans: 0

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Jason Furman: The Employment Situation In August

1. The private sector has added 10 million jobs over 54 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm payroll employment rose by 142,000 in August, mainly reflecting a 134,000 increase in private employment. Private-sector job growth was revised up for July and down for June for little total revisions. Over the past twelve months, private employment has risen by a total of 2.4 million.

3. The last time the economy added 10 million private-sector jobs over four-and-a-half years was November 1996 to April 2001. There are some notable differences between the current stretch of job gains and the one that began in 1996. In particular, the manufacturing sector has added more than 700,000 jobs over the last four-and-a-half years, while it lost more than 400,000 jobs during the 1996-2001 period. 4. On a not-seasonally-adjusted basis, local government educational services employment rose by more than 200,000 in August, continuing a recent trend that has seen an increasing number of these employees return to work before September.

More here

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MarketWatch: U.S. Manufacturers Surge Again In August, ISM Finds

U.S. manufacturing companies grew in August at the fastest pace since March 2011, a survey of executives found. The Institute for Supply Management said its manufacturing index climbed to 59% last month from 57.1% in July. That easily beat the 56.1% forecast of economists surveyed by MarketWatch. Readings over 50% indicate more companies are expanding instead of shrinking.

More here

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Bloomberg: Chrysler Luring Toyota Owners Helps Lift U.S. Share

Chrysler is on an unprecedented winning streak. As Jeep benefits from consumers’ renewed attraction to SUVs, the company also has been aided by strong demand for Ram pickups and Town & Country minivans. That helped propel its U.S. sales up 12 percent last month, the largest increase of any major automaker, according to the average of eight analyst estimates compiled by Bloomberg. That would be Chrysler’s 53rd straight month of rising sales — about 4 1/2 years — after almost being given up for dead before its government-sponsored bankruptcy in 2009.

More here

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PrivateSector_sm

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Bloomberg: Saudi Arabia Oil Sales To U.S. Imperiled By Shale Boom

After years of keeping the price of crude sold to the U.S. low enough to maintain market share, Saudi Arabia is losing ground as the shale boom leaves U.S. refiners with ample supplies of inexpensive domestic oil. Arab Light crude for sale in the U.S. averaged 48 cents a barrel less than Light Louisiana Sweet, a Gulf Coast benchmark, in August, the narrowest discount in data compiled by Bloomberg back to 1991.

The U.S. imported 878,000 barrels of Saudi crude a day in the first four weeks of August, the least since 2009. Shale drilling has boosted U.S. oil output to the highest level since 1986. As refineries turn to lower-priced domestic oil to make fuel at a record pace, the Saudis and other foreign suppliers are left with dwindling slices of the market. In June, imports from Saudi Arabia accounted for the smallest share of crude processed at U.S. refineries since February 2010.

More here

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Jeffry Bartash: U.S. Factory Orders Jump 10.5% In July On Aircraft Contracts

Orders for goods produced in U.S. factories leaped 10.5% higher in July, as expected, owing to a big surge in contracts for commercial aircraft, the Commerce Department said Wednesday. Economists surveyed by MarketWatch had expected orders to climb nearly 11%. Factory orders also rose by a revised 1.5% in June instead of 1.1% as initially reported.

More here

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111 Responses to “President Obama And U.S. Economy: 1; Republicans: 0”


  1. September 5, 2014 at 6:14 pm

    You’re a gem Nerdy, thank you so much for all your hard work today – legend.

  2. September 5, 2014 at 6:15 pm

    ODS is going beyond parody.

  3. 8 donna dem 4 obama
    September 5, 2014 at 6:19 pm

  4. 9 SUE DUVALL SMITH
    September 5, 2014 at 6:23 pm

    WHEN IS HE DUE BACK IN ‘DYSFUNCTIONAL COUNTY’…AKA…DC???…I’M SO GLAD HE ENJOYED SOME FREE SPACE TIME…A CASTLE AND STONEHENGE…PERFECT!

  5. September 5, 2014 at 6:24 pm

    Excellent update, NW!!!

  6. 15 Nena20409
    September 5, 2014 at 6:30 pm

    Fantastic Thread with great economic news. 🍸
    Brilliant NW.
    Au ⭐ for V-24 😉

  7. September 5, 2014 at 6:33 pm

  8. 19 No Child Left Behind
    September 5, 2014 at 6:36 pm

    Congrats to Vetivera for her gold! ⭐

    Good Evening Everyone!

    Lovely Friday evening to all, whatever you do, whomever company you share.

  9. September 5, 2014 at 6:40 pm

    NATO trolls Vlad ….

  10. September 5, 2014 at 6:43 pm

    Not news to anyone here ….

  11. September 5, 2014 at 6:44 pm

    Welp.

  12. September 5, 2014 at 6:56 pm

    President Barack Obama’s visit to Stonehenge was a treat for the commander-in-chief, who called it a special place. It was also quite something for Janice Raffle, a self-described busy mummy and happy wife who runs 10-K races dressed as a bee to help raise money for cancer research and to boost awareness about the declining bee population. She tweets under the handle @BeesRun as a tribute to her two passions.

    Ms. Raffle, her husband and three sons live near the historic monument and decided to hike to it after hearing the president might be making a quick stop. As chronicled in Ms. Raffle’s Twitter account, the president waved, walked over, shook hands and chatted. “I squealed like a teenager. You’d think I would know better,” Ms. Raffle later told ITV. She added that Mr. Obama “asked our names too as he’s a polite man.”

    Ms. Raffle live tweeted her family’s adventure on Twitter. Here’s how the tale unfolded:

    And even the President himself seemed excited by the whole experience – proclaiming Stonehenge somewhere he had always wanted to visit. “How cool is this?! It’s spectacular!” he exclaimed as he roamed the ancient landmark, followed by press. “Knocked it off the bucket list,” he added.

  13. 31 hopefruit2
    September 5, 2014 at 7:00 pm

    Stonehenge has been trending on Twitter since afternoon. 🙂

    • 32 99ts
      September 5, 2014 at 8:35 pm

      Stonehenge is just trendy hf – if you haven’t been there – put it on the bucket list! Follow on from there to Bath – an amazing historic town – Roman Baths and all.

      • 33 hopefruit2
        September 5, 2014 at 9:32 pm

        Stonehenge is trendy true, BUT it began trending on Twitter this afternoon when PBO was reported to have made a stopover there! 🙂

        • 34 99ts
          September 5, 2014 at 9:37 pm

          Every place trends on twitter when PBO stops there 🙂 – but Stonehenge is special – it really deserves to trend anytime.

          I’m glad PBO can introduce such things to the people of the US – they have learned little, other than who to go to war with, from GOP Presidents.

  14. September 5, 2014 at 7:01 pm

    Worth Reading:

    “In his 1963 Letter from a Birmingham Jail, the Rev. Dr. Martin Luther King Jr. explained that the target of civil disobedience actions intended to combat racism wasn’t so much the racists themselves, but the “white moderates” who allowed such racism to fester.

    “Shallow understanding from people of good will is more frustrating than absolute misunderstanding from people of ill will. Lukewarm acceptance is much more bewildering than outright rejection,” Dr. King wrote. “Nonviolent direct action seeks to create such a crisis and foster such a tension that a community which has constantly refused to negotiate is forced to confront the issue.”

    https://twitter.com/stltoday/status/508014523807055872

    • September 5, 2014 at 7:18 pm

      Yes hope fruit this is the latest conspiracy theory – that the Obamas had JR murdered because she said that FLOTUS was a transgender and that POTUS was gay. And she also referred to mrs O as ‘blackie O’ on the howard stern show and complained about PBO wanting to tax rich people. They are crazed and sick.

  15. September 5, 2014 at 7:13 pm

    Sorry about the duplication

  16. September 5, 2014 at 7:16 pm

    “Our shared histories, be it in this country or around the globe, have given us many excuses to be angry. But hanging on to that anger poisons us. To be able to move forward means letting go of the divisions that anger creates. Here’s how President Obama talked about that in Cairo back in 2009.

    So long as our relationship is defined by our differences, we will empower those who sow hatred rather than peace, those who promote conflict rather than the cooperation that can help all of our people achieve justice and prosperity. And this cycle of suspicion and discord must end.”

  17. September 5, 2014 at 7:19 pm

    Sounds totalitarian to me.

  18. 52 dotster3
    September 5, 2014 at 7:20 pm

    I agree with Tweety about one thing——-I really don’t like the word “homeland” and cringe every time I hear it. I had only ever heard it in reference to Nazi Germany. It rings too much like a Frank Luntz/Karl Rove political ploy, designed to elicit a patriotic response. It’s only 1 of 2 things I’ve ever heard President Obama say with which I have disagreement. I would rather our country is referred to as “our country” or the “United States” or “America”, not the fairly recent arrival here of the term “homeland”. Sorry but ugh.

    • September 5, 2014 at 7:25 pm

      Absolutely hate the ‘Homeland’ word too Dotster, for all the reasons you say. Gives me the creeps.

      • 54 Vicki
        September 5, 2014 at 8:00 pm

        Hear! hear! Dotster and Chips.
        “Homeland” is some serious neo-con s–t.
        I cringe when our beloved President uses this word.
        I can’t understand it, honestly. PBO is generally sensitive and tuned in to nuance.

        I hope someone POTUS listens to picks up on the President’s use of this upsetting terminology and suggests, as Chips has, a switch to our country, America, USA.

    • 55 99ts
      September 5, 2014 at 7:29 pm

      I find immigrants (my family included) use the term to describe from whence they came – unfortunately Hitler took the word and turned it into something it is not – I would like that it can be used again.

      • September 5, 2014 at 7:32 pm

        I love the word in that context 99ts, like the emigrated Irish talking about the ‘homeland’, but when it’s used in terms of fending off an enemy, it’s waaaaay too Adolf-ish!

        • 57 99ts
          September 5, 2014 at 7:38 pm

          Big family party today – folks coming from all over (many different homes 🙂 ) – grandbabe is almost TWO!! Older statesman is almost 90 and the rest of us are 21 or thereabouts.

          Stonehenge was a wonderful start to a wonderful Saturday. Knoller should try seeing something other than golf and food to discuss with his followers – pffft

    • 58 a4alice
      September 5, 2014 at 7:39 pm

      thank you for noticing this Dotster. I turned to the hubby the other night and observed that this term “homeland” is what is being used by the news all over the place. It’s weird and completely propaganda-ish sounding.

    • 59 jackiegrumbacher
      September 5, 2014 at 9:42 pm

      Totally agree with you on this, dotster. The idea of “Homeland Security” evoked Nazi echoes the minute it was announced. I wonder who thought of it in the first place?

    • 60 jacquelineoboomer
      September 5, 2014 at 9:58 pm

      With you all the way on that, dotster. “Homeland” is a word used by Bush and his Cheney puppeteer and their minions, to add another dose of post-9/11 fear to their followers’ daily diets. Wish we’d change the name of the H. Security Department to something else. We aren’t Nazi Germany … YET.

  19. September 5, 2014 at 7:22 pm

    Just to clarify – Joan Rivers did say all those things about the Obamas – I suppose it was appalling humour on her part – especially the ‘blackie O’ but it is true that breitbart, alex jones etc have been in an absolute frenzy of conspiracy since JR was admitted to hospital.

  20. September 5, 2014 at 7:28 pm

    Oh boy……

  21. September 5, 2014 at 7:32 pm

    • 68 SUE DUVALL SMITH
      September 5, 2014 at 7:51 pm

      I WILL ALWAYS BELIEVE IT TO BE A CALENDAR MONITORING THE SUN’S MOVEMENTS…IT IS FASCINATING INDEED AND BEAUTIFUL…I LOVE ALL OF THE MYSTERY ATTACHED TO IT!

    • 69 jackiegrumbacher
      September 5, 2014 at 9:47 pm

      PF, I read the Smithsonian article and it was a fascinating description of what scientists are discovering about what’s underneath the surface of the stones. It has been and will continue to be studied for generations.

  22. 70 donna dem 4 obama
    September 5, 2014 at 7:32 pm

  23. September 5, 2014 at 7:33 pm

    I’m really getting ready to vote a good chunk of our fellow “citizens” off the island.

  24. September 5, 2014 at 7:45 pm

  25. September 5, 2014 at 7:46 pm

  26. 79 donna dem 4 obama
    September 5, 2014 at 7:56 pm

  27. 80 japa21
    September 5, 2014 at 8:03 pm

    • 81 a4alice
      September 5, 2014 at 8:10 pm

      RT’d and faved. 🙂

      • 82 japa21
        September 5, 2014 at 8:16 pm

        TY. Honestly, when you consider all the pressure being thrown his way, from all sides (including many of his so-called allies, like DiFi), I marvel at his poise and ability on focusing to get things done the right way. As my wife and I always say to each other, all too many Americans don’t realize just how lucky we are to have him as President at this point in time. The rest of the world realizes it, though, and considers many of us to be totally nuts.

        • September 5, 2014 at 8:21 pm

          Could not agree with you more, John. We are very fortunate.

          #TrustBarack

        • 84 FoxfireTX
          September 5, 2014 at 8:25 pm

          Isn’t it a mystery? I simply cannot fathom how so many can come up with so much hatred for him. I don’t think in my worst moments I felt the hatred for Bush the way these idiots do for PBO. But I just try to savor each day, and pray he can help to get the world under some semblance of control in the remainder of his term because I shudder to think of what his successor might do.

          • 85 anniebella
            September 5, 2014 at 8:43 pm

            FoxfireTX, their hatred is not just for PBO, it is for his wife Michelle too. Believe me I’ve seen the comments said about her. I never disrespected Laura Bush the way they do Michelle Obama, never.

            • 86 anniebella
              September 5, 2014 at 8:48 pm

              If Laura Bush supported healthy school lunches do you think the House Republicans would be against it and trying to do away with it?

  28. September 5, 2014 at 8:13 pm

    I’m disappointed in all of you that I’m the first to post this.

  29. 88 Ladyhawke
    September 5, 2014 at 8:22 pm

    MARIE HARF RESPONDS TO CRITICISM ABOUT COALITION TO FIGHT ISIS.

    This is why I am crazy about State Department Deputy Spokesperson Marie Harf. Today she was advised of very quick criticism of the coalition to fight ISIS. Her response was just terrific. She takes no guff from anybody.

    ——————————————

    QUESTION: Marie, this is some rapid – some very quick criticism of this coalition and its – the core and its size —

    MS. HARF: A coalition we have not even talked about publicly or outlined countries that are a part of.

    QUESTION: Right.

    MS. HARF: I love criticism that comes before we even talk about things publicly.

    QUESTION: I mean, some of those countries, though, are already saying that they’re going to be involved. I mean, UAE, France, Britain, Canada – they’ve already publicly said that they’re involved.

    MS. HARF: And – exactly. And they can certainly speak for themselves. What is the criticism, Matt?

    QUESTION: Well, the criticism is that it’s very – that it’s small, that the 2003 coalition for the Iraq war was much larger —

    MS. HARF: I’m going to say – wait, before you go on. I am going to venture to say that when we talk about what we are doing today, in no way do we want it to resemble anything that was done in 2003 and the invasion of Iraq.

    QUESTION: Okay, well —

    MS. HARF: Let’s be clear about that. I don’t want the comparison there at all.

    QUESTION: No, no – well, no. I’m – but that’s something – I’m just —

    MS. HARF: And we’re certainly not using that playbook.

    ———————————————

    http://www.state.gov/r/pa/prs/dpb/2014/09/231306.htm

  30. September 5, 2014 at 8:24 pm

  31. 97 JER
    September 5, 2014 at 8:30 pm

  32. 98 forus50
    September 5, 2014 at 8:38 pm

  33. September 5, 2014 at 8:44 pm

  34. 103 amk for obama
    September 5, 2014 at 8:48 pm

    • September 5, 2014 at 9:05 pm

      I’m almost afraid to ask, but has her nibs Greta Van Susteren complained that President Obama is not wearing a tie during the Stonehenge tour yet. Apparently, there have been complaints about the very fact that it was an “impromptu” visit and also fact that he was (wait for it) walking “alone” among the rocks. We are currently stuck in a steady ODS state.

  35. September 5, 2014 at 8:54 pm

  36. September 5, 2014 at 9:05 pm

    Some comedianne passed away…..don’t remember the name. Shame I’m sure. Howdy my TOD FRIENDS!!!!

  37. 109 amk for obama
    September 5, 2014 at 9:10 pm

    Does Nato have the political will to face up to Russia?

    http://www.bbc.com/news/world-europe-29066072

    worth a read.

  38. 110 globalcitizenlinda
    September 5, 2014 at 9:13 pm

  39. September 5, 2014 at 10:12 pm

    Guess I am last as usual…talking all to myself!


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