Category Archives: Economy

Obama economy devastates black employment, Black unemployment rate 11.6 percent, 1.7 million more not in labor force, Employment to population ratio plummets 5.6 percent since Democrats took congress

Obama economy devastates black employment, Black unemployment rate 11.6 percent, 1.7 million more not in labor force, Employment to population ratio plummets 5.6 percent since Democrats took congress

“The share of families with an employed member was unchanged at 80.0 percent in 2013. The likelihood of having an employed family member rose in 2013 for Asian families (to 88.8 percent) and for Hispanic families (to 85.1 percent). The likelihood for white and black families showed little or no change (80.1 percent and 75.7 percent, respectively).”…BLS report, April 25, 2014

“This commentary does not oppose CHD funding of genuine, grassroots community organizations, run and supported by individual members of a parish or diocese. There is potential value and virtue in the collective voice. However, when the CHD funds Alinsky-style, church-based community organizations as in the best interest of the poor and supports organizations which advance other agendas, it divests the poor of their right to an authentic voice. This process tends to treat the poor as exploited units of human capital, rather than as human beings created in the dignity of God’s image.”…Catholic Bishops Report

“And you shall know the truth, and the truth shall set you free.”…Jesus, John 8:32

 

 

Obama hope and change decimates blacks.

Two of the demographic groups who were the biggest supporters of Obama have taken the hardest hits in employment. Blacks and the young.

Democrats and the left continue to use blacks and the poor as “exploited units of human capital, rather than as human beings .

When will the black community in the US wake up, boot the demogogues out and embrace candidates of all ethnic and political backgrounds?

Soon I hope.

“The truth shall set you free.”

Here are some numbers, straight from the US Labor Dept. BLS.

They are from January 2007 when the Democrats took control of both houses of congress, January 2009 when Obama took the White House and April 2014.

 

______________________Jan 2007______Jan 2009______April 2014
Participation Rate____________64.6__________63.2__________60.9
Employment to Population______59.4__________55.2__________53.8
Unemployment Rate____________7.9__________12.7__________11.6
Not in labor force___________9,666,000___10,312,000____12,035,000

 

39.8 percent of food stamp recipients are black.

Blacks are 13 percent of the US population.

Is it working for you?

April unemployment rate, US Labor Dept., May 2, 2014, Labor force participation plummets and jobless rates still high, Part time jobs, Financial markets react to false data

April unemployment rate, US Labor Dept., May 2, 2014, Labor force participation plummets and jobless rates still high, Part time jobs, Financial markets react to false data

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working. So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh. One-fifth of the families in the entire country do not have a single member with a job. That is absolutely astonishing. How can a family survive if nobody is making any money? Well, the answer to that question is actually quite easy. There is a reason why government dependence has reached epidemic levels in the United States. Without enough jobs, tens of millions of additional Americans have been forced to reach out to the government for help. At this point, if you can believe it, the number of Americans getting money or benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.”…Zero Hedge April 29, 2014

 

 

***  Update 9:00 AM  ***

Here we go again folks. SOS, just another day.

The unemployment rate dropped .4 percent to 6.3 as did the labor force participation rate drop .4 percent to 62.8 percent.

The labor force dropped by 806,000.

***  Update 9:15AM  ***

The BLS is showing a seasonally adjusted drop in labor force of 988,000.

***

The US Labor Dept. will report on the April unemployment rate this morning.

Those of us paying attention, with at least minimal math skills, understand that the stated unemployment rate has become a joke.

Yet, for years, the financial markets and market reporters have taken the drop in the unemployment rate as good news.

Nothing could be further from the truth.

To sum up the reality of the situation, record numbers have dropped out of the labor force, not because they intended to retire, but because jobs were not available, and many who did get or retain jobs found themselves working one or more part time jobs.

More part time instead of full time jobs is a direct consequence of Obamacare and the Obama economy.

When you read the US Labor Dept report and see the latest unemployment rate, consider the following facts.

Remember, the Democrats took control of both houses of Congress in January 2007. This is rarely reported.
………………………..January 2007……January 2009…….March 2014
Not in labor force………..77,506,000……..80,529,000………91,030,000
Could only find part time….. 1,186,000……..1,671,000……….2,697,000
Participation Rate………………66.4………….65.7……………63.2
Unemployment Rate………………..4.6…………..7.8…………….6.7

 

See any problems there?

Remember also that part time jobs are counted the same as full time.

There are 10,501,000 more people not in the labor force now than when Obama took office in January 2009.

The stated unemployment rate has dropped 1.1 percent.

The labor force participation rate has dropped 2.5 percent.

There are 1,026,000 more people who could only find part time work now than when Obama took office.

We just discovered that 20 percent of American families have no one employed.

No wonder that we have record food stamp usage.

April job cuts rise 17 percent to 40298, Challenger Gray & Christmas report, Unemployment claims rose 14000, Labor force participation rate record lows, Record food stamp usage

April job cuts rise 17 percent to 40298, Challenger Gray & Christmas report, Unemployment claims rose 14000, Labor force participation rate record lows, Record food stamp usage

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working. So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh. One-fifth of the families in the entire country do not have a single member with a job. That is absolutely astonishing. How can a family survive if nobody is making any money? Well, the answer to that question is actually quite easy. There is a reason why government dependence has reached epidemic levels in the United States. Without enough jobs, tens of millions of additional Americans have been forced to reach out to the government for help. At this point, if you can believe it, the number of Americans getting money or benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.”…Zero Hedge April 29, 2014

 
You just read that 20 percent of American Families have no one employed.

We have record food stamp usage.

We have record lows of labor force participation.

You will read below that the planned job cuts compare favorably to 1997 levels.

But that is comparing apples and oranges.

Why?

The Labor force participation rate in 1997 was 67 percent.

It is 63.2 percent now.

More people have dropped out of the labor making the current jobs cuts more significant.

The labor force participation rate has plummeted since the Democrats took control of congress in January 2007 and Obama took the White House in January 2009.

From Challenger Gray & Christmas April 30, 2014.

“Job cut announcements by U.S.-based firms were up 17 percent in April, as employers in retail and financial services continued to shed workers in a challenging business environment.

Employers announced plans to shed 40,298 workers from their payrolls in April, according to the monthly report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc. That was up from 34,399 in March and 6.0 percent higher than the 38,121 job cuts recorded in the same month a year ago.

So far in 2014, Challenger has tracked 161,639 announced job cuts, 12 percent fewer than the 183,162 planned layoffs in the first four months of 2013.

“Despite the April increase, the pace of downsizing remains relatively low. We just saw the lowest first-quarter total in 19 years and the year-to-date monthly average of 40,410 is the lowest since 1997,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.”

Read more:

https://www.challengergray.com/press/press-releases/2014-april-job-cut-report-job-cuts-rise-17-40298

From the US Labor Dept. April 30, 2014.

“In the week ending April 26, the advance figure for seasonally adjusted initial claims was 344,000, an increase of 14,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 329,000 to 330,000. The 4-week moving average was 320,000, an increase of 3,000 from the previous week’s revised average. The previous week’s average was revised up by 250 from 316,750 to 317,000.”

Read more:

http://www.dol.gov/opa/media/press/eta/eta20140709.pdf

 

 

20 percent of American families everyone unemployed, Record food stamp usage, Record labor force participation rate, Zero Hedge interprets BLS orwellian wording, 49 million dealing with food insecurity

20 percent of American families everyone unemployed, Record food stamp usage, Record labor force participation rate, Zero Hedge interprets BLS orwellian wording, 49 million dealing with food insecurity

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

Citizen Wells has extensively covered the true employment and labor force situation in this country.

Zero Hedge has interptreted the latest BLS report on family employment.

Hats off to them.

From Zero Hedge  April 29, 2014.

“The Real Unemployment Rate: In 20% Of American Families, Everyone Is Unemployed”

“According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working. So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh. One-fifth of the families in the entire country do not have a single member with a job. That is absolutely astonishing. How can a family survive if nobody is making any money? Well, the answer to that question is actually quite easy. There is a reason why government dependence has reached epidemic levels in the United States. Without enough jobs, tens of millions of additional Americans have been forced to reach out to the government for help. At this point, if you can believe it, the number of Americans getting money or benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.

When I was growing up, it seemed like anyone that was willing to work hard could find a good paying job. But now that has all changed. At this point, 20 percent of all the families in the entire country do not have a single member that has a job. That includes fathers, mothers and children. The following is how CNSNews.com broke down the numbers…

A family, as defined by the BLS, is a group of two or more people who live together and who are related by birth, adoption or marriage. In 2013, there were 80,445,000 families in the United States and in 16,127,000—or 20 percent–no one had a job.
To be honest, these really are Great Depression-type numbers. But over the years “unemployment” has been redefined so many times that it doesn’t mean the same thing that it once did. The government tells us that the official unemployment rate is about 7 percent, but that number is almost meaningless at this point.

A number that I find much more useful is the employment-population ratio. According to the employment-population ratio, the percentage of working age Americans that actually have a job has been below 59 percent for more than four years in a row…”

“And what is even more frightening is that more families are falling out of the middle class every single day.  As a recent CNN article explained, approximately one-third of all U.S. households are living “hand-to-mouth”.  In other words, they are constantly living on the edge of financial disaster…

About one-third of American households live “hand-to-mouth,” meaning that they spend all their paychecks. But what surprised the study authors is that 66% of these families are middle class, with a median income of $41,000. While they don’t have liquid assets, such as savings accounts or mutual fund holdings, they do have homes and retirement accounts, with a median net worth of $41,000.

“We don’t expect them to be living paycheck to paycheck,” said Greg Kaplan, study co-author and assistant professor of economics at Princeton University.

The American Dream is rapidly becoming an American nightmare.”

Read more:

http://www.zerohedge.com/news/2014-04-29/real-unemployment-rate-20-american-families-everyone-unemployed

From the BLS report.

“The share of families with an employed member was unchanged at 80.0 percent in 2013. The likelihood of having an employed family member rose in 2013 for Asian families (to 88.8 percent) and for Hispanic families (to 85.1 percent). The likelihood for white and black families showed little or no change (80.1 percent and 75.7 percent, respectively).”

Read more.

http://www.bls.gov/news.release/pdf/famee.pdf

 

Obamacare impact on Americans and economy, Higher premiums and deductibles, Medicare payments redirected, Employer costs passed on, Part time jobs instead of full time

Obamacare impact on Americans and economy, Higher premiums and deductibles, Medicare payments redirected, Employer costs passed on, Part time jobs instead of full time

“About two-thirds of the hospitals serving Medicare patients, or some 2,200 facilities, will be hit with penalties averaging around $125,000 per facility this coming year, according to government estimates.”…NE News Now

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

The media has done a stellar job of focusing on signups for Obamacare and how this has improved. What they have, obviously intentionally, not done is focus on the worsening impact of Obamacare on all Americans and the economy.

Citizen Wells has revealed the impact of premium and deductible increases and the job losses and part time jobs trends.

We have also explained the impact of cost increases and taxes on companies. These costs are often passed on to consumers.

The impact of Obamacare is much more far reaching.

From The Foundry April 11, 2014.

“Talking about Obamacare’s effects is one thing; seeing hard data is another.

Heritage’s newly updated Obamacare in Pictures has 15 charts that show the law’s effects on Americans—from canceled insurance policies to new taxes, Medicare cuts, reduced choice for plans, and more.

Here’s a quick look at just three of these charts and how Obamacare is hitting three groups.

YOUNG PEOPLE

Obamacare in Pictures 2014: Premiums Age 27

Obamacare says you can stay on your parents’ health insurance until you turn 26. This chart looks at what happens after that—if you don’t have employer-sponsored insurance and you have to get insured through Obamacare. If you’re trying to save for a car or house—or just paying rent to have your own place—seeing your premiums double is quite a blow.

SENIORS

Obamacare in Pictures 2014: Medicare cuts

You may recall Heritage experts’ warning that Obamacare would cut $716 billion from Medicare. That’s still happening.

Despite the Obama administration’s recent walking back of Medicare Advantage cuts for this year, Obamacare’s planned cuts to Medicare are moving forward. This chart shows which parts of Medicare are affected.”

Read more:

http://blog.heritage.org/2014/04/11/obamacare-charts-obama-doesnt-want-see/?utm_source=facebook&utm_medium=social

Obamacare will require employers to make changes to their health care plans

Created on April 9, 2014

Obamacare will require employers to make changes to their health care plans

 

Thanks to commenter bob strauss.

Obama legacy middle class and jobs decline, Canada and North Dakota prosper, Embracing oil economy creates jobs and wealth, Canadian middle class better off than American

Obama legacy middle class and jobs decline, Canada and North Dakota prosper, Embracing oil economy creates jobs and wealth, Canadian middle class better off than American

“For the well-off in this country, high gas prices are mostly an annoyance, but to most Americans they’re a huge problem, bordering on a crisis.”…Barack Obama May 2008

“We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times … and then just expect that other countries are going to say OK,”…Barack Obama May 2008

“Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.”…Barack Obama 

 

From Citizen Wells August 6, 2012.

“Obama’s “energy policy”, aka Chicago style pay to play politics, is destroying this country’s economy and jobs. Citizen Wells has kept you informed about the impact of high gas prices.

“Gas prices are going back up and currently average $ 3.49 in the US. One of the biggest reasons gasoline prices have not risen further is the downturn in the US and world economies.”

“In 2009 when Obama took office, gasoline averaged around $ 1.85 a gallon. Here is a chart of gasoline prices for the last 3 years.””

“TransCanada’s Keystone XL pipeline could mean 118,000 American jobs, if the U.S. government ever issues the permit.

A glimpse of what all this has cost the U.S. economy can be seen by looking north to Canada, where animal spirits have been unleashed in the energy sector. Canada’s close economic ties to the U.S. have traditionally meant that when the U.S. gets the sniffles, Canada gets swine flu. This time it’s been different. Part of the reason is that Canada’s housing market was not poisoned by a federal government push to put unqualified borrowers into homes they could not afford. After the 2008 collapse of the housing bubble in the U.S., the Canadian financial sector remained strong.

That alone was not enough to protect Canada from the effects of the U.S. recession. The manufacturing sector was hit hard, and in the first quarter of 2009 the economy contracted by an annualized 7.9%.

Yet Canada has outperformed the U.S. since then. In 2010, according to the International Monetary Fund, Canada grew at 3.2% versus 2.9% in the U.S. In 2011, the IMF estimates Canada will grow at 2.9%; unemployment is now 7.3%. The IMF’s U.S. growth forecast is 2.5% this year, and U.S. unemployment is 9.1%.

One explanation for Canada’s more robust growth is its strong commitment to energy, which has become more valuable in U.S. dollar terms under Federal Reserve Chairman Ben Bernanke’s inflationary policies. Alberta is now producing two million barrels per day but expects that number will grow to four to five million within a decade.”

http://citizenwells.wordpress.com/2012/08/06/obama-gas-price-facts-august-6-2012-canadians-embrace-oil-jobs-canada-unemployment-rate-falls-to-7-2-percent-canadians-richer-than-americans-for-first-time/

From Zero Hedge April 23, 2014.

“The Middle Class In Canada Is Now Doing Better Than The Middle Class In America”

“For most of Canada’s existence, it has been regarded as the weak neighbor to the north by most Americans.  Well, that has changed dramatically over the past decade or so.  Back in the year 2000, middle class Canadians were earning much less than middle class Americans, but since then there has been a dramatic shift.  At this point, middle class Canadians are actually earning more than middle class Americans are.  The Canadian economy has been booming thanks to a rapidly growing oil industry, and meanwhile the U.S. middle class has beensteadily shrinking.  If current trends continue, a whole bunch of other countries are going to start passing us too.  The era of the “great U.S. middle class” is rapidly coming to a bitter end.

In recent years, I have been up to Canada frequently, and I am always amazed at how much nicer things are up there.  The stores and streets are cleaner, the people are more polite and it seems like almost everyone that wants to work has a job.

But despite knowing all this, I was still surprised when the New York Times reported this week that middle class incomes in Canada have now surpassed middle class incomes in the United States…

After-tax middle-class incomes in Canada — substantially behind in 2000 — nowappear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.

And things are particularly dire for those in the U.S. on the low end of the scale…

The struggles of the poor in the United States are even starker than those of the middle class. A family at the 20th percentile of the income distribution in this country makes significantly less money than a similar family in Canada, Sweden, Norway, Finland or the Netherlands. Thirty-five years ago, the reverse was true.

Even while our politicians and the media continue to proclaim that everything is “just fine”, the U.S. middle class continues to slide toward oblivion.”

Read more:

http://www.zerohedge.com/news/2014-04-23/middle-class-canada-now-doing-better-middle-class-america

From CNN Money March 19, 2014.

“North Dakota wants you: Seeks to fill 20,000 jobs”

“In a new recruiting campaign to be rolled out in May, the North Dakota Economic Development Foundation is aiming to fill more than 20,000 jobs — ranging from truck drivers and oilfield workers to receptionists and food servers.

North Dakota’s huge oil boom has spurred thousands of job seekers to flock to the state for years now. In some cities, the population has quadrupled.”

“”It is being developed to target people in states with chronic unemployment, and people in industries that are high-demand in North Dakota, including: engineering, healthcare, energy, skilled trades, transportation and information technology,” the foundation said in a statement.”

Read more:

http://money.cnn.com/2014/03/18/pf/north-dakota-jobs/

 

 

Obama Yellen Perez Big Brother, Distortions and lies aboout economy and jobs, Orwellian employment spin, Jobs added jobs lost, Labor force plummets, Obamacare and Obama economy cause part time jobs

Obama Yellen Perez Big Brother, Distortions and lies aboout economy and jobs, Orwellian employment spin, Jobs added jobs lost, Labor force plummets, Obamacare and Obama economy cause part time jobs

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“The Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones. As for the third message, it referred to a very simple error which could be set right in a couple of minutes. As short a time ago as February, the Ministry of Plenty had issued a promise (a ‘categorical pledge’ were the official words) that there would be no reduction of the chocolate ration during 1984. Actually, as Winston was aware, the chocolate ration was to be reduced from thirty grammes to twenty at the end of the present week. All that was needed was to substitute for the original promise a warning that it would probably be necessary to reduce the ration at some time in April.”…George Orwell, “1984”

 

 
Of course jobs have been added over the past 5 years. Jobs have also been lost. The big story is the record drop in the labor force participation rate and the increase in part time jobs due to Obamacare and the Obama economy.

Obama, Janet Yellen and Labor Secretary Perez have used the best Orwellian linguistics to portray a dismal jobs situation as rosy.

Janet Yellen gave a speech yesterday.

Yellen talks out of both sides of her mouth.

From the transcript.

“Nearly five years into the expansion that began after the financial crisis and the Great Recession, the recovery has come a long way. More than 8 million jobs have been added to nonfarm payrolls since 2009, almost the same number lost as a result of the recession.”

“It is a sign of how far the economy has come that a return to full employment is, for the first time since the crisis, in the medium-term outlooks of many forecasters. It is a reminder of how far we have to go, however, that this long-awaited outcome is projected to be more than two years away.”

“The continued improvement in labor market conditions has been important in this judgment. The unemployment rate, at 6.7 percent, has fallen three-tenths of 1 percentage point since late last year. Broader measures of unemployment that include workers marginally attached to the labor force and those working part time for economic reasons have fallen a bit more than the headline unemployment rate, and labor force participation, which had been falling, has ticked up this year.”

“In sum, the central tendency of FOMC participant projections for the unemployment rate at the end of 2016 is 5.2 to 5.6 percent, and for inflation the central tendency is 1.7 to 2 percent. If this forecast was to become reality, the economy would be approaching what my colleagues and I view as maximum employment and price stability for the first time in nearly a decade. I find this baseline outlook quite plausible.”

“Other data suggest that there may be more slack in labor markets than indicated by the unemployment rate. For example, the share of the workforce that is working part time but would prefer to work full time remains quite high by historical standards. Similarly, while the share of workers in the labor force who are unemployed and have been looking for work for more than six months has fallen from its peak in 2010, it remains as high as any time prior to the Great Recession. There is ongoing debate about why long-term unemployment remains so high and the degree to which it might decline in a more robust economy. As I argued more fully in a recent speech, I believe that long-term unemployment might fall appreciably if economic conditions were stronger.

The low level of labor force participation may also signal additional slack that is not reflected in the headline unemployment rate. Participation would be expected to fall because of the aging of the population, but the decline steepened in the recovery. Although economists differ over what share of those currently outside the labor market might join or rejoin the labor force in a stronger economy, my own view is that some portion of the decline in participation likely represents labor market slack.”

http://www.marketwatch.com/story/text-of-janet-yellens-speech-2014-04-16?link=MW_latest_news

How about this gem.

“I believe that long-term unemployment might fall appreciably if economic conditions were stronger.”

Ya think?
Classic Obama lies from a speech yesterday in Oakdale, Pennsylvania.

“Now, we’ve spent the past five and a half years fighting back from the worst economic crisis in our lifetimes. The good news is our economy is growing again, our businesses are creating jobs. We’ve created nearly 9 million jobs over the past four years. We’ve cut our deficits by more than half. Our manufacturing sector that used to be losing jobs, just hemorrhaging jobs, is now adding jobs for the first time since the 1990s. (Applause.) The first time since the 1990s. High school dropout rates are going down. College attendance rates and graduation rates are going up. Our troops are coming home. (Applause.) We’re seeing an energy boom all across the country. And more than 7.5 million people have been able to sign up for health care, many for the very first time, through the Affordable Care Act. (Applause.) And 7.5 million people, by the way, is about the number that it would take to fill up Heinz Field 115 times.”

http://www.whitehouse.gov/the-press-office/2014/04/16/remarks-president-and-vice-president-skills-training

From Citizen Wells April 7, 2014.

 

“The US Labor Dept. reported the March employment data on Friday April 4, 2014.

US Secretary of Labor Thomas E. Perez issued the following statement:

“Today’s report tells the story of a solid and steady economic recovery delivering more opportunity for more people. We saw 192,000 new jobs in the month of March, and the private sector has now created 8.9 million jobs over the last 49 consecutive months of employment growth. The unemployment rate held steady at 6.7 percent and is down from 7.5 percent a year ago.
“There is encouraging news across sectors. Health-care employment increased by 19,000 jobs. The average work week in manufacturing rebounded to 42.0 hours, tied for the highest mark since July 1945. Motor vehicle sales had their strongest month in seven years. At the height of the recession, there were six job seekers for every job available. Today, it’s two-and-a-half people competing for every open job.
“Without question, there is more still to do. On issues from infrastructure to immigration reform, from manufacturing to the minimum wage, there are steps Congress can take that will help more people punch their ticket to the middle class.
“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks. So, priority number one must be for the House and Senate to extend emergency unemployment benefits that they irresponsibly allowed to expire more than three months ago, creating profound hardship for 2.3 million people. These benefits are a critical lifeline for job seekers struggling to get back on their feet; but they also act as a broader economic stimulus, putting money in people’s pockets and spurring consumer demand.
“The success of the Affordable Care Act is helping working families enjoy greater economic security, the peace of mind of knowing they won’t be wiped out by an injury or illness. The open enrollment period ended with 7.1 million people signing up for health coverage they didn’t have before. The ACA will help provide a shot in the arm to the economy, as people are free to start their own businesses and pursue entrepreneurial ventures now that their health insurance is no longer tied to their job.”

http://www.dol.gov/opa/media/press/opa/opa20140572.htm

The “1984″ analogy is obvious.

As most of you know, Obamacare is costing millions of Americans far more in healthcare premiums.

Despite the best linguistic efforts of Secretary Perez to put a positive spin on the impact of Obamacare, it is also impacting jobs.

From the Duke University Fuqua School of Business, December 11, 2013.

“——————————————-
DUKE UNIVERSITY NEWS
Duke University Office of News & Communications

http://www.dukenews.duke.edu

——————————————-

FOR IMMEDIATE RELEASE: Wednesday, Dec. 11, 2013
CONTACTS: Kevin Anselmo (Duke’s Fuqua School of Business)
(919) 660-7722
kevin.anselmo@duke.edu
or
David W. Owens (CFO Magazine)
(617) 790-3000
davidowens@cfo.com

CFO SURVEY: AFFORDABLE CARE ACT COULD CURTAIL HIRING

Note to editors: For additional comment, see contact information at the end of this release.
Watch professor John Graham discuss the results (or use this link
http://youtu.be/F4oj8d5F9Jo). You may also post this video on your website. Names of CFOs who took part in the survey and agreed to speak with media are available by request.

DURHAM, N.C. — A significant percentage of U.S. chief financial officers indicate that because of the Affordable Care Act (ACA), they may reduce employment growth at their firms and shift toward part-time workers.

A majority of finance chiefs also believe the full Social Security retirement age should be raised to help close the budget shortfall.

Despite these issues, underlying economic conditions are expected to improve in 2014 and, except in Europe, corporate charitable giving remains strong

These are some of the findings from the latest Duke University/CFO Magazine Global Business Outlook Survey, which concluded Dec. 5. The survey has been conducted for 71 consecutive quarters and spans the globe, making it the world’s longest running and most comprehensive research on senior finance executives. Presented results are for U.S. firms unless otherwise noted.

EMPLOYMENT EFFECTS OF THE AFFORDABLE CARE ACT

Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA.
One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”

Read more:

http://www.cfosurvey.org/14q1/PressRelease.pdf

From data provided by the US Labor Dept. we learn:

The Labor Force Participation Rate has dropped 2.5 percent since Obama took office in January 2009 and actually has dropped .1 percent the past year.

The number of people who could only find part time work has risen 1,055,000 since Obama took office and has risen 146,000 in the past year.

The only statement from Secretary Perez that reflects reality is:

“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks.””

http://citizenwells.wordpress.com/2014/04/07/labor-secretary-perez-on-march-employment-numbers-fact-vs-fiction-solid-and-steady-economic-recovery-obamacare-helping-working-families-enjoy-greater-economic-security/

 

Greensboro Guilford County NC jobless rates drop, April 10, 2014, Fewer people working and jobs lost, Greensboro News Record accurate report, Labor force has plummeted in NC

Greensboro Guilford County NC jobless rates drop, April 10, 2014, Fewer people working and jobs lost, Greensboro News Record accurate report, Labor force has plummeted in NC

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

I applaud the Greensboro News Record for this accurate jobs report April 10, 2014.
“Jobless rate falls again in Guilford, but what does it mean?”

“Greensboro’s unemployment rate keeps dropping, but that may not mean that more people are working.

Since February 2013, this region’s unemployment rate has dropped from 9.9 percent to 6.9 percent this February, according to statistics released Wednesday by the N.C. Department of Commerce. The numbers are not adjusted for seasonal variations in hiring patterns.

But the employment pie is shrinking, so the number doesn’t necessarily mean more people have landed jobs.

And because the state surveys employment in a variety of ways, one measurement is up, and one is down, sending mixed messages.

A simple count shows that 1,970 more people say they’re working, compared with February a year ago, but the Greensboro-High Point labor force, defined as people who are employed or unemployed and actively seeking work, has dropped from 370,500 in February 2013 to 360,500 this past February.

That suggests that many people simply have stopped looking for work, local economists have said in recent months.

Perhaps the best measure of jobs, UNCG economist Andrew Brod said, is the survey of establishments that asks how many workers they employ.

Wednesday’s establishment survey shows that the Greensboro-High Point metro area lost 800 jobs between February 2013 and February 2014.”

Read more:

http://m.news-record.com/business/article_3f1582e4-bff4-11e3-8341-0017a43b2370.html?mode=jqm

From Citizen Wells March 29, 2014.

“We have the Obama administration touting job creation.

Governor Pat McCrory of NC is pleased with the improvement in the jobs situation.

The truth has stayed mostly hidden or under reported.

To fix a problem it is important to:
A) Acknowledgement the problem.
B) Understand the problem.

It appears that neither A or B is the case.

The Labor Force Participation Rate in NC has dropped 4 percent since Obama took office in January 2009 and 1.7 percent since Pat McCrory took office in January 2013.

The real unemployent rate in the US and NC?

Well over 10 percent.”

http://citizenwells.wordpress.com/2014/03/29/nc-unemployment-rate-drops-while-labor-force-plummets-participation-rate-drops-4-since-obama-took-office-1-7-since-mccrory-took-office-nc-losing-jobs-and-workers/

God only knows the impact of part time jobs on NC employment and the economy.

 

 

Labor Secretary Perez on March employment numbers, Fact vs fiction, Solid and steady economic recovery?, Obamacare helping working families enjoy greater economic security?

Labor Secretary Perez on March employment numbers, Fact vs fiction, Solid and steady economic recovery?, Obamacare helping working families enjoy greater economic security?

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

The US Labor Dept. reported the March employment data on Friday April 4, 2014.

US Secretary of Labor Thomas E. Perez issued the following statement:

“Today’s report tells the story of a solid and steady economic recovery delivering more opportunity for more people. We saw 192,000 new jobs in the month of March, and the private sector has now created 8.9 million jobs over the last 49 consecutive months of employment growth. The unemployment rate held steady at 6.7 percent and is down from 7.5 percent a year ago.
“There is encouraging news across sectors. Health-care employment increased by 19,000 jobs. The average work week in manufacturing rebounded to 42.0 hours, tied for the highest mark since July 1945. Motor vehicle sales had their strongest month in seven years. At the height of the recession, there were six job seekers for every job available. Today, it’s two-and-a-half people competing for every open job.
“Without question, there is more still to do. On issues from infrastructure to immigration reform, from manufacturing to the minimum wage, there are steps Congress can take that will help more people punch their ticket to the middle class.
“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks. So, priority number one must be for the House and Senate to extend emergency unemployment benefits that they irresponsibly allowed to expire more than three months ago, creating profound hardship for 2.3 million people. These benefits are a critical lifeline for job seekers struggling to get back on their feet; but they also act as a broader economic stimulus, putting money in people’s pockets and spurring consumer demand.
“The success of the Affordable Care Act is helping working families enjoy greater economic security, the peace of mind of knowing they won’t be wiped out by an injury or illness. The open enrollment period ended with 7.1 million people signing up for health coverage they didn’t have before. The ACA will help provide a shot in the arm to the economy, as people are free to start their own businesses and pursue entrepreneurial ventures now that their health insurance is no longer tied to their job.”

http://www.dol.gov/opa/media/press/opa/opa20140572.htm

The “1984” analogy is obvious.

As most of you know, Obamacare is costing millions of Americans far more in healthcare premiums.

Despite the best linguistic efforts of Secretary Perez to put a positive spin on the impact of Obamacare, it is also impacting jobs.

From the Duke University Fuqua School of Business, December 11, 2013.

“——————————————-
DUKE UNIVERSITY NEWS
Duke University Office of News & Communications

http://www.dukenews.duke.edu

——————————————-

FOR IMMEDIATE RELEASE: Wednesday, Dec. 11, 2013
CONTACTS: Kevin Anselmo (Duke’s Fuqua School of Business)
(919) 660-7722
kevin.anselmo@duke.edu
or
David W. Owens (CFO Magazine)
(617) 790-3000
davidowens@cfo.com

CFO SURVEY: AFFORDABLE CARE ACT COULD CURTAIL HIRING

Note to editors: For additional comment, see contact information at the end of this release.
Watch professor John Graham discuss the results (or use this link
http://youtu.be/F4oj8d5F9Jo). You may also post this video on your website. Names of CFOs who took part in the survey and agreed to speak with media are available by request.

DURHAM, N.C. — A significant percentage of U.S. chief financial officers indicate that because of the Affordable Care Act (ACA), they may reduce employment growth at their firms and shift toward part-time workers.

A majority of finance chiefs also believe the full Social Security retirement age should be raised to help close the budget shortfall.

Despite these issues, underlying economic conditions are expected to improve in 2014 and, except in Europe, corporate charitable giving remains strong

These are some of the findings from the latest Duke University/CFO Magazine Global Business Outlook Survey, which concluded Dec. 5. The survey has been conducted for 71 consecutive quarters and spans the globe, making it the world’s longest running and most comprehensive research on senior finance executives. Presented results are for U.S. firms unless otherwise noted.

EMPLOYMENT EFFECTS OF THE AFFORDABLE CARE ACT

Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA.
One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”

Read more:

http://www.cfosurvey.org/14q1/PressRelease.pdf

From data provided by the US Labor Dept. we learn:

The Labor Force Participation Rate has dropped 2.5 percent since Obama took office in January 2009 and actually has dropped .1 percent the past year.

The number of people who could only find part time work has risen 1,055,000 since Obama took office and has risen 146,000 in the past year.

The only statement from Secretary Perez that reflects reality is:

“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks.”

 

NC unemployment rate drops while labor force plummets, Participation rate drops 4 % since Obama took office, 1.7 % since McCrory took office, NC losing jobs and workers

NC unemployment rate drops while labor force plummets, Participation rate drops 4 % since Obama took office, 1.7 % since McCrory took office, NC losing jobs and workers

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

We have the Obama administration touting job creation.

Governor Pat McCrory of NC is pleased with the improvement in the jobs situation.

The truth has stayed mostly hidden or under reported.

To fix a problem it is important to:
A) Acknowledgement the problem.
B) Understand the problem.

It appears that neither A or B is the case.

The Labor Force Participation Rate in NC has dropped 4 percent since Obama took office in January 2009 and 1.7 percent since Pat McCrory took office in January 2013.

The real unemployent rate in the US and NC?

Well over 10 percent.

The following article at least attempts to present the truth.

From WRAL March 28, 2014.

“NC employers shed thousands of jobs in February; unemployment rate dips”
“North Carolina’s unemployment rate fell again in February, but employers in the state continued to shed jobs, according to data released Friday by the state Department of Commerce.

A survey calculating nonfarm payrolls recorded 11,300 fewer jobs in the month after a decline of more than 7,000 jobs in January.

Despite the drop in jobs, the state’s unemployment rate dipped to 6.4 percent, marking the eighth straight month of steady decline. North Carolina’s unemployment rate is down 2.2 percentage points from February 2013 and is now better than the national unemployment rate, which was 6.7 percent last month.

The state’s labor force in February was 4,659,236, down 7,349 since January. The labor force is down more than 60,000 since February 2013, evidence of many people, some of them the long-term unemployed, are dropping out of the job market and are no longer counted in the unemployment rate calculation.

“If North Carolina is going to see a healthy long-term recovery in employment growth, we need to see all jobless workers moving into jobs, rather than out of the labor force. And we’re not seeing that because job creation remains anemic,” said Allan Freyer, an analyst with the NC Justice Center.

The number of people unemployed – those who are looking for jobs – fell sharply, from 310,974 in January to 296,226 in February.

Employers continue to shed jobs

Employers in North Carolina shed more than 11,000 jobs in February, and only three nonfarm sectors saw growth during the month.
NC Department of Commerce.”

“Gov. Pat McCrory said Friday that he’s pleased to see more people getting back to work.”

Read more:

http://www.wral.com/nc-employers-shed-thousands-of-jobs-in-february-unemployment-rate-dips/13520294/

By the way, the labor force in NC was 4,728,203  when McCrory took office. It was 4,659,236 in February 2014.

http://esesc23.esc.state.nc.us/d4/LausSelection.aspx