unemployment

New Normal: 14.4% Unemployed, Poor Job Growth, 540,000 Leave Work Force

by Sara Noble

We’re back! The economy is taking off. Private enterprise is doing fine. Real good signs in major areas of the economy. The economy is resilient and we can go over the cliff. Okay, I’m just joshin’ with you, but that is what the lamestream, Tim Geithner and President Obama re reporting. Politico said today that they prove Barack’s prescriptions have been healing the economy. It’s like living in Russia.

Just so you know, jobs have been created but 73% of the jobs created are government jobs that we can’t afford. In the last five months, government jobs have gone up by 540,000 people, and 540,000 left the work force in November; we are down to 1.7 private workers supporting every government worker.

You should also know that a high number of seasonal workers, including Santa Clauses and seasonal sales people, are included in the new jobs number even though they should be considered seasonally-adjusted workers. The BLS (Bureau of Labor Statistics) said Hurricane Sandy had NOTHING to do with the numbers even though, for the last week. the news media has been saying Hurricane Sandy was going to hurt the numbers. They were setting us up with lies – what else is new?

The unemployment fell to 7.7% but 540,000 left the workforce, offsetting an equal gain in October’s numbers. We are back where we were in September in terms of workforce participation. People are leaving the work force and October’s gains were the anomaly.

Yesterday, CBS said that the private sector created 80,000 jobs and unemployment would inch up to 8.0%.  That was from the editor of MoneyWatch who was probably not inaccurate so much as the Bureau of Labor Stats are – we will see as things progress.

Today, we discover from the Bureau of Truth that :

  • We created about 146,000 jobs, mostly in the private sector . It is barely enough to increase economic growth. The problem is that in a couple weeks those numbers will be scaled back in all likelihood. The government is well-known for its overly optimistic predictions. For example, according to the BLS, “The change in total nonfarm payroll employment for September was revised from +148,000 to +132,000, and the change for October was revised from +171,000 to +138,000.”
  • The seasonally-adjusted labor force dropped by 350,000, and the civilian labor force participation rate also dropped two-tenths of a point to 63.6%, almost at the 31-year low hit in August. The employment-population ratio dropped by one-tenth of a percent to 58.7%. [That’s roughly 540,000 people]
  • Discouraged workers are no longer looking for work and that is why 540,000 are out of the work force.
  • The unemployment rate went down to 7.7%. Real unemployment went down to 14.4%. Many of those increased numbers come from low paying jobs in retail.
  • The manufacturing sector lost 7,000 jobs. I’m sure if we looked in China we could find them.
  • Food manufacturing jobs down 12,000, chemicals down 9,000, motor vehicles and parts up by 10,000 and wood products up 3,000.
  • Mining lost 9,000 jobs (no surprises there)
  • Entertainment and hospitality increased 123,000 (low paying jobs)
  • Construction employment fell by 20,000 jobs.
  • Temporary employment rose by 18,000 and health care added 20,000 jobs, slightly less than its average of 26,000 over the last year.

The U.S. Payroll to Population employment rate (P2P), as measured by Gallup, was 43.7% for the month of November, down from 45.7% in October. This is the largest month-over-month decline in P2P since Gallup began tracking it in 2010. [gallup] People can expect to make less.

People dropping out of the work force are probably going crazy from not getting a job and that makes them eligible for social security disability, food stamps, and welfare. Yea! We’re back!!!

Read more here:

http://www.independentsentinel.com/2012/12/new-normal-14-4-unemployed-poor-job-growth-540000-leave-work-force/

 

Fiscal Cliff Highlights Washington’s Failures to Voters

by Chris Stirewalt

My priority [on taxes] is making sure that manufacturing and companies  that are making goods and services that they take advantage of the best workers  in the world and the outstanding business environment here and not have a  situation where they are creating jobs someplace else.”

President Obama talking to Toledo, Ohio CBS affiliate WTOL, part  of an attack on Republican Mitt Romney for foreign financial activities.

If you want to know how badly Washington is failing, consider that amid a  weak and worsening economy and persistently high unemployment, elected officials  intentionally created a circumstance that risks a $250 billion income-tax  increase for next year and the layoffs of millions of defense workers.

We got here because lawmakers were unable to act on taxes or spending when  they could, so these same folks opted to raise the stakes figuring that the  consequences of inaction just weren’t high enough before. Once the health of the  American economy and the fiscal future of the nation were hanging in the  balance, surely they would have to come to some sort of arrangement.

Unable to address their own differences, President Obama and members of a  divided Congress, decided to tie the American citizenry to the railroad tracks  assuming neither side would really let the tragedy happen. It’s a game of  chicken that only politicians could devise. They have nothing at stake but their  political careers, while the people they purportedly serve are put in peril.

Today, Federal Reserve Chairman Ben Bernanke will again tell lawmakers that  the disaster awaiting the nation on Dec. 31 – an across-the-board tax hike and  deep, automatic spending cuts, including to the military and entitlements – is  dragging down the already anemic economy. The chairman will beg senators to take  action to head off the “fiscal cliff” and reassure jittery markets that Uncle  Sam isn’t going to let the guillotine fall.

Read more: http://www.foxnews.com/politics/2012/07/17/fiscal-cliff-highlights-washingtons-failures-to-voters/#ixzz20vZfTGnE

 

Unemployment Is Going Down Because People Are Leaving the Work Force

by Sara Noble

“I think it was Churchill [whose bust was returned to the British by Obama] who said that the Americans always end up doing the right thing after they’ve tried every other alternative, And that’s true.  We muddle our way through because of messy democracy [there he goes again] and it’s in our nature to be contentious and have these big arguments, but ultimately we choose the right path.  And that’s what the world is counting on right now as well. … we’re going to get there, but I’m going to need all of your help to get there as well.”

~ Barack Obama at a recent fundraiser

 

Update: 4/6: The Department of Labor Statistics claims that the unemployment has gone down to 8.2%. Only 120,000 jobs were created, which is under the 200,000 needed to make a dent in unemployment. The number of unemployed has gone down despite the poor job growth, giving us the reduced unemployment percentage.

It’s mind boggling how, when we created 227,000 jobs last month,the unemployment rate stayed the same but this month we created only 120,000 jobs and the unemployment numbers dropped.

We have a certain number of people in the work force or who want to be and a certain number of jobs created. The numbers should not be this illogical. These numbers are seasonally adjusted unlike Gallup and Gallup uses a smaller sampling group. Still….Why did the unemployment drop when seasonal adjustments and other factors differentiating Gallup from BLS do not account for the difference (and they don’t)?

The reason is that the number of people not in the labor force is at an all time high of 87,897,000. [BLS Work Force Participation Data]

Welfare nation, here we come!

US Department of Labor Statistics

HOUSEHOLD DATA

Table A-15. Alternative measures of labor underutilization

Read more here:

http://www.independentsentinel.com/2012/04/we-are-on-the-right-path-unemployment-has-only-increased-to-9-1/

 

Sneak Preview – February Unemployment

by Sara Noble

The media has been reporting a rosy jobs picture for the month of February, but Gallup has not. The Bureau of Labor Statistics will report tomorrow but I am guessing they will be more creative and report lower unemployment.

Gallup (Figures are from Jan. 15 – Feb. 15) –

The U.S. unemployment rate without seasonal adjustment is 9.0% in mid-February, up from 8.6% for January. [The Bureau of Labor Statistics reports seasonally adjusted figures]

U.S. employees in mid-February who are working part time but want full-time work is the same as in January and is close to January 2010 figures.

Underemployment, a measure that combines the percentage of workers who are unemployed with the percentage working part time but wanting full-time work, is 19.0% in mid-February up from 18.7% recorded for January, and is up from January’s mid-month reading of 18.1%.

Read more here:

http://www.independentsentinel.com/2012/03/sneak-preview-february-unemployment/

 

Let’s Talk About Jobs

By Phyliss Schlafly

We  watched a couple more TV presidential candidate debates and, funny  thing, again there was little or no mention of what is widely conceded  to be the number-one issue: jobs.  The unemployment figures remain  unacceptably high, and the figures for young people are truly shocking.

The  general unemployment rate has been 9 percent or higher for the past  2-1/2 years.  But in the second quarter of 2011, the unemployment rate  for U.S.-born young adults (18 to 29) who have completed high school was  double that: 18.2 percent.

It’s  a real example of media bias that the Mainstream Media news reports on  young adults’ unemployment fail to mention the fact that an estimated  seven to eight million illegal aliens are holding jobs in the United  States.  And Obama recently announced a decision to add many more to  this total, which will put them in direct competition with unemployed or  underemployed young Americans.

The  Obama Administration is reviewing the cases of 300,000 illegal aliens  currently in deportation proceedings.  “Reviewing” means that they will  not be deported, but instead will be invited to apply for work  authorization, an Obama euphemism for amnesty.

I’m  waiting to hear from our presidential candidates their analysis of why  we are suffering these unemployment rates and what are their plans to  remedy the problem.  I’m waiting to hear any discussion of the  relationship between the unemployment of young non-college-educated  Americans, especially minorities, and our wide-open immigration which is  admitting young foreigners of limited schooling to fill those very jobs  that Americans desperately need.

Read more here: http://www.eagleforum.org/column/2011/nov11/11-11-16.html

BLS BS

Hugh de Payns

The economy added 244,000 new jobs in April, but the unemployment rate climbed to 9.0% all because “more people are looking for work”.  I am also hearing the spin that “the numbers aren’t great, but the direction is good.”  That is the mantra being spun on the networks this morning.

Hogwash!

The civilian employment ratio has not improved, and in fact it is now starting to tail downward again. 

The U6 rate which is the broadest indicator of unemployment which includes unemployed, those working part time wanting full time work, and “discouraged workers” (those who have given up looking), is climbing upwards again.


The number of people who have given up or are discouraged is actually climbing, not falling. 


Back to top

Submit your Feedback

      Sending...
x