Obama's Jobs Numbers: Unemployment Dip or Double Dip?

At the viddy, President Obanomics says the new jobs numbers show we've had "six straight months of job growth" and that "our economy has added nearly 600,000 private sector jobs this year." And he adds, in his trademark line, that "make no mistake, we are headed in the right direction."

Well, maybe not.

At LAT, "Unemployment rate dips as more workers leave labor force":

Although the jobless rate in June fell from 9.7% in May, that reflected a big drop of 652,000 people in the labor force over the month. The labor force is made up of workers and those actively looking for jobs. With the economic recovery weakening and many employers reluctant to hire, many more unemployed people may have quit looking for work, which would push down the jobless rate.

So much for heading in the right direction...

But see David Leonhart, "The Recovery Is Losing Steam" (via Memeorandum):

I want to reiterate this point: the unemployment rate fell last month even though actual unemployment did not fall. Only official unemployment — the share of people actively looking for work — fell.

And that's key ... all the rest, from Obama or the pundits, is bull. Well, perhaps I'd agree in part with Paul Krugman: The economic stimulus didn't work. Although the I part with Krugman on the response to the administration's failure. WE DON'T need another economic stimulus package, which was in fact a pork-barrel boondoggle that in 18-months has failed to invigorate the economy and expand the job market. Where we do see that happening is in the marketplace among firms able to promote growth through innovation. Apple comes to mind, but no doubt we'd have more concerns like that if the economic wizards in Washington focused economic initiatives toward expanding business startups and freeing entrepreneurial talent. It's amazing how far the Democrats are dragging down the economy with onerous regulations and the heathcare albatross that's leaving more and more Americans increasingly risk averse as they see the costs of doing business skyrocket. The fact is, we're doing as well as we are simply due to the massive scope of the American marketplace. Despite high unemployment and tepid growth, there's considerable bustle among people looking to seize openings and opportunities amid economic crisis and technological transformation. And interestingly, a lot of manufacturers aren't finding a work force with enough skills for them to expand:

As unlikely as it would seem against this backdrop, manufacturers who want to expand find that hiring is not always easy. During the recession, domestic manufacturers appear to have accelerated the long-term move toward greater automation, laying off more of their lowest-skilled workers and replacing them with cheaper labor abroad.

Now they are looking to hire people who can operate sophisticated computerized machinery, follow complex blueprints and demonstrate higher math proficiency than was previously required of the typical assembly line worker.

Makers of innovative products like advanced medical devices and wind turbines are among those growing quickly and looking to hire, and they too need higher skills.

“That’s where you’re seeing the pain point,” said Baiju R. Shah, chief executive of BioEnterprise, a nonprofit group in Cleveland trying to turn the region into a center for medical innovation. “The people that are out of work just don’t match the types of jobs that are here, open and growing.”

Seems the administration's failing on the "skilled workforce for the 21st century," as Obama claims at the clip.

The Economist discounts the chances for a "double dip," however.

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