Unemployment rate 11.4 percent based on 2008 labor force participation, Slowing in hiring and economy, Large number of workers struggle for full time work, U-6 number 13.8 percent

Unemployment rate 11.4 percent based on 2008 labor force participation, Slowing in hiring and economy, Large number of workers struggle for full time work, U-6 number 13.8 percent

“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

“Private sector employment increased by 119,000 jobs from March to April, according to the April ADP National Employment Report….The March report, which reported job gains of 158,000, was revised downward to 131,000 jobs.”...ADP May 1, 2013

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

I watched the financial markets yesterday salivate over the perceived employment picture. Once again, mostly ignoring the data.

From Market Watch June 7, 2013.

“• “The May uptick notwithstanding, the gradual downward trend in the headline jobless rate belies the magnitude of the issue. A much larger number of workers are still struggling to find full-time employment, settling on part-time work to make ends meet. That broader measure of joblessness (the so-called U-6 number) ticked fractionally lower, but remains elevated at 13.8%.” — Jim Baird, Plante Moran Financial Advisors.

• “The report is inconclusive in its implications for monetary policy. We think the slowing in hiring and in the economy will concern everyone on the FOMC and the pace of jobs gains falls short of the 200k mark mentioned by some of the core members of the Committee. However, there will still be those for whom this is enough progress to step down the pace of purchases, and they are likely to continue to voice disparate views, adding volatility to markets and keeping uncertainty about policy high.” — Julia Coronado, BNP Paribas.

• “Immediate reaction: OK, but not overwhelming report. Going in the right direction, but not strongly. Report not strong enough to end QE3, Fed stays the course.” — Douglas Holtz-Eakin, American Action Forum, over Twitter.

• “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, over Twitter”

Read more:

http://www.marketwatch.com/story/ok-but-not-overwhelming-jobs-reactions-2013-06-07
“Why battle lines are drawn over the labor force participation rate”

“In discussions about this morning’s May unemployment report, the labor force participation rate will continue to get a lot of attention.

“The labor force participation rate is a way to measure when workers leave the workforce. The rate has been declining since 2000. It inched higher to 63.4% in May from 63.3% in April.

Experts say it has become a central issue simply because the drop defies easy explanation.

Some of the decline is demographics. As the Baby Boomers age, they participate less in the workforce. But other factors are at play. Workers under the age 25 are working less. And then there is a decline in participation among men of prime working age, particularly among minorities.

Economists have been fiercely debating the trend. Will it continue, and what are the reasons behind the drop?”

Read more:

http://blogs.marketwatch.com/election/2013/06/07/why-battle-lines-are-drawn-over-the-labor-force-participation-rate/

“what are the reasons behind the drop?”

Please!

Obama, et al.

May unemployment rate 7.6 percent, June 7, 2013, US Labor Dept, 175000 jobs added, Labor force participation rate 63.4 percent

May unemployment rate 7.6 percent, June 7, 2013, US Labor Dept, 175000 jobs added, Labor force participation rate 63.4 percent

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“Private sector employment increased by 119,000 jobs from March to April, according to the April ADP National Employment Report….The March report, which reported job gains of 158,000, was revised downward to 131,000 jobs.”...ADP May 1, 2013

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

From ADP June 5, 2013.
“ADP National Employment Report: Private Sector Employment Increased by 135,000 Jobs in May”
“Private sector employment increased by 135,000 jobs from April to May, according to the May ADP National Employment Report®, which is produced by ADP®, a leading provider of human capital management solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. April’s job gains were revised downward to 113,000 from 119,000.”

http://www.adp.com/media/press-releases/2013-press-releases/adp-national-employment-report-for-may-2013.aspx

From the US Labor Department June 7, 2013.

"THE EMPLOYMENT SITUATION -- MAY 2013

Total nonfarm payroll employment increased by 175,000 in May, and the unemployment rate was essentially unchanged at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, food services
and drinking places, and retail trade.

Household Survey Data

Both the number of unemployed persons, at 11.8 million, and the unemployment rate, at 7.6 percent, were essentially unchanged in May. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (7.2 percent), adult women (6.5 percent), teenagers (24.5 percent), whites (6.7 percent), blacks (13.5 percent), and Hispanics (9.1 percent) showed little or no change in May. The
jobless rate for Asians was 4.3 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

In May, the number of long-term unemployed (those jobless for 27 weeks or more) was unchanged at 4.4 million. These individuals accounted for 37.3 percent of the unemployed.
Over the past 12 months, the number of long-term unemployed has declined by 1.0 million."
(See table A-12.)

The civilian labor force rose by 420,000 to 155.7 million in May; however, the labor force participation rate was little changed at 63.4 percent. Over the year, the labor force participation rate has declined by 0.4 percentage point. The employment-population
ratio was unchanged in May at 58.6 percent and has shown little movement, on net, over the past year. (See table A-1.)"

http://www.bls.gov/news.release/empsit.nr0.htm

Private sector added 135000 Jobs in May, ADP National Employment Report, June 5, 2013, April revised downward, Economists expected 170K, Job growth slowed

Private sector added 135000 Jobs in May, ADP National Employment Report, June 5, 2013, April revised downward, Economists expected 170K, Job growth slowed

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“Private sector employment increased by 119,000 jobs from March to April, according to the April ADP National Employment Report….The March report, which reported job gains of 158,000, was revised downward to 131,000 jobs.”...ADP May 1, 2013

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

 

 

From ADP June 5, 2013.
“ADP National Employment Report: Private Sector Employment Increased by 135,000 Jobs in May”
“Private sector employment increased by 135,000 jobs from April to May, according to the May ADP National Employment Report®, which is produced by ADP®, a leading provider of human capital management solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. April’s job gains were revised downward to 113,000 from 119,000.”

“Service-providing industries added 138,000 jobs in May, an improvement over the April gain of 113,000. However, the gains in May are below the average monthly gain of 156,000 during the first quarter. Among the service industries reported by the ADP National Employment Report, professional/business services added 42,000 jobs added over the month, more than twice as many as in April. Trade/transportation/utilities recorded a gain of 31,000 jobs, while financial activities added 7,000 jobs.

“U.S. private sector employment increased by 135,000 jobs during the month of May 2013, a slight increase over the previous month of April,” said Carlos A. Rodriguez, president and chief executive officer of ADP. “The majority of new jobs in May came from the service-providing sector, which added a total of 138,000 jobs, while the goods-producing sector recorded a loss of 3,000 jobs. Notably, a gain of 5,000 jobs in the construction industry during May was offset by a decline of 6,000 lost jobs in the manufacturing industry.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to expand, but growth has slowed since the beginning of the year. The slowdown is evident across all industries and all but the largest companies. Manufacturers are reducing payrolls. The softer job market this spring is largely due to significant fiscal drag from tax increases and government spending cuts.”"

Read more:

http://www.adp.com/media/press-releases/2013-press-releases/adp-national-employment-report-for-may-2013.aspx

NC unemployment rate 8.9 percent ?, Greensboro News Record AP article quotes Duke University Economics Professor, Labor force participation rate dropped .3 percent, Good news?

NC unemployment rate 8.9 percent ?, Greensboro News Record AP article quotes Duke University Economics Professor, Labor force participation rate dropped .3 percent, Good news?

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“Although the numbers are not directly comparable, local labor markets
across much of North Carolina began 2013 no differently than they
began 2012,” said Quinterno. “Simply put, unemployment rates remain
elevated across the state, and twice as many North Carolinians are
jobless and seeking work than was the case five years ago.”…SBN Strategies March 22, 2013

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

 

The Associated Press has always been a problem. A member “news” organization creates a report and it is regurgitated across the nation & world, in most cases without fact checking.

We have another example recently from the Greensboro News Record.

Is this because the Rhino Times just shut down?

Or because John Coleman, an economics professor at the Duke University Fuqua School of Business was quoted?

From the Greensboro News Record May 17, 2013.

“North Carolina unemployment rate drops 8.9 percent”

“North Carolina’s unemployment rate fell to 8.9 percent in April _ the lowest in the state in four years.

The state’s unemployment rate was 9.2 percent in March.

“This is very encouraging for North Carolina,” said John Coleman, economics professor at Duke University’s Fuqua School of Business.

The state Commerce Department said Friday the number of people unemployed fell by 15,259 between March and April. On the downside, nearly 4,200 fewer people held jobs than in March.

The industry with the largest monthly increase: Leisure and hospitality services, which added 6,100 jobs. It was followed by financial activities with 2,000; government with 1,300, and professional and business services with 1,300.

January 2009 was the last time the state’s unemployment rate was at 8.9 percent.”

“ Coleman said the report contained good news about North Carolina’s economy.”

“”What’s encouraging about the report is the large drop in the number of unemployed,” he said. That number seems to have more to do with new jobs than people who are deciding to give up rather than keep competing for work.

He also said the new figures bode well for North Carolina in the future.”

http://www.news-record.com/news/north_carolina_ap/article_f2cad77b-33b3-5f27-914b-fb285076ebd9.html

Huh???

From the Employment Security Commission of NC.

Labor Force Participation Rate

March 2013    62.8 %

April    2013    62.5 %

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

The Labor Force Participation Rate fell .3 percent in April.

That fully accounts for the drop in the unemployment rate and is certainly not good for the NC public.

Perhaps it is good for lying politicians and newspapers.

Mr. Coleman, did you actually make those statements that were reported???

Unemployment claims increase 32000, May 16, 2013, initial claims was 360k, 4 week moving average increased to 339k

Unemployment claims increase 32000, May 16, 2013, initial claims was 360k, 4 week moving average increased to 339k

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“Since the Democrats took control of both houses of congress in January 2007, the number of people who could only find part time work has gone up 215 percent”…Citizen Wells

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

 

From the US Labor Dept may 16, 2013.

n the week ending May 11, the advance figure for seasonally adjusted initial claims was 360,000, an increase of 32,000 from the previous week’s revised figure of 328,000. The 4-week moving average was 339,250, an increase of 1,250 from the previous week’s revised average of 338,000.

http://www.dol.gov/opa/media/press/eta/ui/eta20130939.htm

From Citizen Wells May 10, 2013.

“The US Labor Department BLS, Bureau of Labor Statistics, came out with 2 reports in May with their jobs and unemployment data. BLS reports on jobs and unemployment have long been suspect. A recent ADP report on private sector jobs added did not mesh well with the government reports.

The two BLS reports do not mesh well either.

From the BLS May 3, 2013.

“THE EMPLOYMENT SITUATION — APRIL 2013″

“The change in total nonfarm payroll employment for February was
revised from +268,000 to +332,000, and the change for March was
revised from +88,000 to +138,000. With these revisions, employment
gains in February and March combined were 114,000 higher than
previously reported.”

http://www.bls.gov/news.release/empsit.nr0.htm

From the BLS May 7, 2013.

“Job Openings and Labor Turnover Summary”

“JOB OPENINGS AND LABOR TURNOVER – MARCH 2013″
Table A. Job openings, hires, and total separations by industry, seasonally adjusted
———————————————————————————————-
| Job openings              | Hires                            | Total separations
|————————————————————–
| Mar. | Feb. | Mar.     | Mar. | Feb.   | Mar. |    Mar. | Feb.   | Mar.
| 2012 | 2013 | 2013p| 2012 | 2013 | 2013p| 2012 | 2013 | 2013p
——————————-|————————————————————–
| Levels (in thousands)
|————————————————————–
|3,848 |3,899 |3,844 |4,435 |4,451 |4,259 |4,180 |4,180 |4,213
“Net Change in Employment

Large numbers of hires and separations occur every month throughout the business cycle. Net employment change results from the relationship between hires and separations. When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining.
Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising. Over the 12 months ending in March 2013, hires totaled 51.8 million and separations totaled 50.1 million, yielding a net employment gain of 1.7 million. These figures include workers who may have been hired and separated more than once during the year.”

http://www.bls.gov/news.release/jolts.nr0.htm

The “p” stands for preliminary (decoder ring setting smoke & mirrors).

Using the BLS rules outlined above, the following calculations should yield the employment gains by month.

Feb 2013 hires                4,451,000

Minus

Feb 2013 separations   4,180,000

Feb job gains              271,000

Mar 2013 hires                4,259,000

Minus

Mar 2013 separations   4,213,000

Feb job gains                46,000

From the BLS above:

“The change in total nonfarm payroll employment for February was
revised from +268,000 to +332,000, and the change for March was
revised from +88,000 to +138,000.”

Huh?

Isn’t this what Orwell warned us about?”

http://citizenwells.wordpress.com/2013/05/10/us-labor-department-bls-jobs-data-may-2013-cooking-the-books-unemployment-report-revised-numbers-job-openings-and-labor-turnover-summary-orwell-2-2-5/

US labor department BLS jobs data, May 2013, Cooking the books?, Unemployment report revised numbers, Job Openings and Labor Turnover Summary, Orwell 2 + 2 = 5

US labor department BLS jobs data, May 2013, Cooking the books?, Unemployment report revised numbers, Job Openings and Labor Turnover Summary, Orwell 2 + 2 = 5

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“Since the Democrats took control of both houses of congress in January 2007, the number of people who could only find part time work has gone up 215 percent”…Citizen Wells

“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 Department BLS, Bureau of Labor Statistics, came out with 2 reports in May with their jobs and unemployment data. BLS reports on jobs and unemployment have long been suspect. A recent ADP report on private sector jobs added did not mesh well with the government reports.

The two BLS reports do not mesh well either.

From the BLS May 3, 2013.

“THE EMPLOYMENT SITUATION — APRIL 2013″

“The change in total nonfarm payroll employment for February was
revised from +268,000 to +332,000, and the change for March was
revised from +88,000 to +138,000. With these revisions, employment
gains in February and March combined were 114,000 higher than
previously reported.”

http://www.bls.gov/news.release/empsit.nr0.htm

From the BLS May 7, 2013.

“Job Openings and Labor Turnover Summary”

“JOB OPENINGS AND LABOR TURNOVER – MARCH 2013″
Table A. Job openings, hires, and total separations by industry, seasonally adjusted
———————————————————————————————-
| Job openings              | Hires                            | Total separations
|————————————————————–
| Mar. | Feb. | Mar.     | Mar. | Feb.   | Mar. |    Mar. | Feb.   | Mar.
| 2012 | 2013 | 2013p| 2012 | 2013 | 2013p| 2012 | 2013 | 2013p
——————————-|————————————————————–
| Levels (in thousands)
|————————————————————–
|3,848 |3,899 |3,844 |4,435 |4,451 |4,259 |4,180 |4,180 |4,213
“Net Change in Employment

Large numbers of hires and separations occur every month throughout the business cycle. Net employment change results from the relationship between hires and separations. When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining.
Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising. Over the 12 months ending in March 2013, hires totaled 51.8 million and separations totaled 50.1 million, yielding a net employment gain of 1.7 million. These figures include workers who may have been hired and separated more than once during the year.”

http://www.bls.gov/news.release/jolts.nr0.htm

The “p” stands for preliminary (decoder ring setting smoke & mirrors).

Using the BLS rules outlined above, the following calculations should yield the employment gains by month.

Feb 2013 hires                4,451,000

Minus

Feb 2013 separations   4,180,000

Feb job gains              271,000

Mar 2013 hires                4,259,000

Minus

Mar 2013 separations   4,213,000

Feb job gains                46,000

From the BLS above:

“The change in total nonfarm payroll employment for February was
revised from +268,000 to +332,000, and the change for March was
revised from +88,000 to +138,000.”

Huh?

Isn’t this what Orwell warned us about?

Unemployment initial claims, May 9, 2013, Labor force dropouts mean fewer layoffs?, .3 percent drop since Jan, ADP drop in private sector jobs, Media reports April job growth

Unemployment initial claims, May 9, 2013, Labor force dropouts mean fewer layoffs?, .3 percent drop since Jan, ADP drop in private sector jobs, Media reports  April job growth

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“Since the Democrats took control of both houses of congress in January 2007, the number of people who could only find part time work has gone up 215 percent”…Citizen Wells

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

 

*** Update 9:20 AM ***

The jobs situation is even worse than presented below. New data will be presented shortly which substantiates reports from Citizen Wells on the true jobs picture.

Last week ADP reported a drop in private sector jobs for April and a revised downward number for March.

“Private sector employment increased by 119,000 jobs from March to April, according to the April ADP National Employment Report®, which is produced by ADP®, a leading provider of human capital management solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. The March report, which reported job gains of 158,000, was revised downward to 131,000 jobs.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth appears to be slowing in response to very significant fiscal headwinds. Tax increases and government spending cuts are beginning to hit the job market. Job growth has slowed across all industries and most significantly among companies that employ between 20 and 499 workers.”

Read more:

http://www.adp.com/media/press-releases/2013-press-releases/adp-national-employment-report-for-april-2013.aspx

On Friday, May 3, 2013, the BLS, US Labor Dept. reported the following.

“Total nonfarm payroll employment rose by 165,000 in April, and the unemployment rate was little changed at 7.5 percent, the U.S. Bureau of Labor Statistics reported today.”

“The unemployment rate, at 7.5 percent, changed little in April but has 
declined by 0.4 percentage point since January. The number of unemployed
persons, at 11.7 million, was also little changed over the month; however,
unemployment has decreased by 673,000 since January.”
“The civilian labor force participation rate was 63.3 percent in April,
unchanged over the month but down from 63.6 percent in January.”

http://www.bls.gov/news.release/empsit.nr0.htm

The Labor Force dropped by .3 percent since January.

On Friday, Market Watch, owned by the WSJ, reported.

“The U.S. created a net 165,000 jobs in April, the Labor Department said Friday. The increase surpassed the 135,000 forecast of economists polled by MarketWatch.

What’s more, the economy created an additional 114,000 jobs in March and February than previously reported. The number of new jobs created in March was revised up to 138,000 from 88,000, the Labor Department said, while February’s figure was revised up to 332,000 from 268,000.

The number of jobs created in February was the highest since November 2005 for any month that did not include temporary Census bureau hiring.

The acceleration in hiring nudged the unemployment rate down to 7.5% from 7.6% in March. That’s the lowest level since December 2008, the month before President Obama took office.”

https://mail.google.com/mail/ca/?shva=1#advanced-search/from=citizenwells%40gmail.com%2C&subset=all&within=1d/13e6a8a009b18403

On May 6, 2013 the WSJ reported.

“The unemployment rate dropped for all the right reasons in April, but a broader rate that includes underemployed and discouraged workers rose, underlining concerns about the types of jobs being created.”

“But there was an area of concern in the report as a broader rate, known as the “U-6″ for its data classification by the Labor Department, increased to 13.9% from 13.8% a month earlier. That includes everyone in the official rate plus “marginally attached workers” — those who are neither working nor looking for work, but say they want a job and have looked for work recently; and people who are employed part-time for economic reasons, meaning they want full-time work but took a part-time schedule instead because that’s all they could find.

In April, the rate ticked up as the number of workers who are part-time but want full-time work increased. That came even as the numbers of hours worked also dropped this month for all workers. This raises the question about the kinds of jobs being created, and whether they can support a faster recovery.”

From the BLS May 9, 2013.

In the week ending May 4, the advance figure for seasonally adjusted initial claims was 323,000, a decrease of 4,000 from the previous week’s revised figure of 327,000. The 4-week moving average was 336,750, a decrease of 6,250 from the previous week’s revised average of 343,000.

http://www.dol.gov/opa/media/press/eta/ui/current.htm

Factory orders were down last week and 1 in 5 Americans are on food stamps.

Markets rise on flawed data, ADP BLS Market Watch reports, Stated unemployment rate, Labor force participation rate, Part time work, Food stamps tell all

Markets rise on flawed data, ADP BLS Market Watch reports, Stated unemployment rate, Labor force participation rate, Part time work, Food stamps tell all

“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012

“Since the Democrats took control of both houses of congress in January 2007, the number of people who could only find part time work has gone up 215 percent”…Citizen Wells

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

 

 

I have been reviewing employment data from ADP, BLS and a Market Watch report this morning. The stated unemployment rate, as most of you know, does not factor in the people who have dropped out of the work force and 2.8 percent have dropped out since Obama took office.

It also does not factor in the large increases in people who could only find part time work due to the economy and impact of Obamacare.

The ADP report of private sector jobs added does not match the BLS report. The Market Watch report echoes the BLS report and misrepresents the true unemployment rate:

“The acceleration in hiring nudged the unemployment rate down to 7.5% from 7.6% in March. That’s the lowest level since December 2008, the month before President Obama took office.”

The stock market has responded positively to this unrealistic data, much as it has this year.

I do not know how long the markets can be buoyed on false data, but numbers don’t lie.

20 percent, 1 in 5 Americans are on food stamps.

More details to come.

Euro unemployment rises to 12.1 percent, 27 country European Union, Greece at 27.2 percent, Spain 26.7%, Need more Margaret Thatchers

Euro unemployment rises to 12.1 percent, 27 country European Union, Greece at 27.2 percent, Spain 26.7%, Need more Margaret Thatchers

“A tax increase to a company results in some combination of the following:

Product and service price increases.
Employee and hours cutbacks.
Reduced hiring.”…Citizen Wells

“Nearly every empirical study of taxes and economic growth published in a peer reviewed journal finds that tax increases harm economic growth,”…William McBride, Tax Foundation

“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”…Margaret Thatcher

 

From Market Watch April 30, 2013.

“Unemployment in the euro area inched up to 12.1% in March from 12% in February, but a big jump from the year-ago level of 11%, according to data from Eurostat released on Tuesday. In the 27-country European Union, the unemployment rate was unchanged at 10.9% in March versus the prior month, but against a year ago, that level was a 10.3%. Germany and Austria had the lowest rates, of 7.6%, while the highest levels of joblessness were in Greece, at 27.2% for January, Spain, 26.7% and Portugal 17.5%. Meanwhile, a flash estimate showed eurozone inflation dropping to 1.2% in April from 1.7% in March.”

http://www.marketwatch.com/story/unemployment-rises-in-euro-area-inflation-falls-2013-04-30

Democratic Senators Tell White House of Concerns About Health Care Law Rollout, Obamacare impact on jobs Public Health and Prevention Fund and their reelection

Democratic Senators Tell White House of Concerns About Health Care Law Rollout, Obamacare impact on jobs Public Health and Prevention Fund and their reelection

“The Patient Protection and Affordable Care Act (PPACA)[1] imposes numerous tax hikes that transfer more than $500 billion over 10 years—and more in the future—from hardworking American families and businesses to Congress for spending on new entitlements and subsidies. In addition, higher tax rates on working and investing will discourage economic growth both now and in the future, further lowering the standard of living.”…Heritage Foundation

“However … health insurance rates and benefit coverage plan costs have continued to increase. As a result of those increases, county employees have experienced a pay decrease that has grown larger each year.”…Guilford County Interim Manager Sharisse Fuller

“Can we stop calling ObamaCare the Affordable Care Act now?”…Guilford College student

 

From the NY Times April 25, 2013.

“Democratic Senators Tell White House of Concerns About Health Care Law Rollout”

“Democratic senators, at a caucus meeting with White House officials, expressed concerns on Thursday about how the Obama administration was carrying out the health care law they adopted three years ago.

Democrats in both houses of Congress said some members of their party were getting nervous that they could pay a political price if the rollout of the law was messy or if premiums went up significantly.

President Obama’s new chief of staff, Denis R. McDonough, fielded questions on the issue for more than an hour at a lunch with Democratic senators.

Senator Jeanne Shaheen, Democrat of New Hampshire, who is up for re-election next year, said, “We are hearing from a lot of small businesses in New Hampshire that do not know how to comply with the law.”

In addition, Mrs. Shaheen said, “restaurants that employ people for about 30 hours a week are trying to figure out whether it would be in their interest to reduce the hours” of those workers, so the restaurants could avoid the law’s requirement to offer health coverage to full-time employees.

The White House officials “acknowledged that these are real concerns, and that we’ve got to do more to address them,” Mrs. Shaheen said.

Senator Tom Harkin, Democrat of Iowa and chairman of the appropriations subcommittee on health care, said he was extremely upset with Mr. Obama’s decision to take money from public health prevention programs and use it to publicize the new law, which creates insurance marketplaces in every state.

“I am greatly disappointed — beyond upset — that the administration chose to help pay for the Affordable Care Act in fiscal year 2013 by raiding the Public Health and Prevention Fund,” Mr. Harkin said.

The administration said it had transferred $332 million from the prevention fund to pay for “education and outreach” activities publicizing the new insurance markets, or exchanges.

To express his displeasure, Mr. Harkin has blocked Senate action on Mr. Obama’s nominee to be administrator of the Centers for Medicare and Medicaid Services, Marilyn B. Tavenner. By putting a “hold” on the nomination, aides said, Mr. Harkin hopes to draw the White House into negotiations on the future of the prevention fund, which he has championed.”

“Senator Benjamin L. Cardin, Democrat of Maryland, said he told White House officials on Thursday that he was concerned about big rate increases being sought by the largest health insurer in his state. The company, CareFirst BlueCross BlueShield, has sought increases averaging 25 percent for individual insurance policies that will be sold in the state insurance exchange, and it is seeking increases of about 15 percent for small businesses. The company said the higher premiums reflected costs of complying with the new law.”

Read more:

http://www.nytimes.com/2013/04/26/us/politics/democratic-senators-tell-white-house-of-concerns-about-health-care-law-rollout.html?_r=1&