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Obama’s Legacy: Part-time America

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Posted by  ▪  Thursday, July 3, 2014 at 4:00pm
june jobs report

Every monthly jobs report announcement since 2009 seems to be a perfect symbol for Barack Obama’s entire presidency.

When the jobs numbers are first released at 8:30AM each month — the expressions of ‘hope’ and hype dominate the morning news cycle.

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Five years into our 20-year lost decade

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Posted by  ▪  Friday, June 6, 2014 at 9:29pm
Barack Obama reacts to the passing of Healthcare bill March 2013 (Wikimedia Commons)

A good observation from Steve Kates at the Catallacy Files in Australia, on the dismal U.S. labor force participation rate, and how Australia risks following the U.S.:

US – five years into its 20 year lost decade

The Japanese have had a twenty year lost decade following their own Keynesian stimulus….

And we could...

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CBO warning for years that Obamacare creates disincentive to work

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Posted by  ▪  Wednesday, February 5, 2014 at 1:37pm
Douglas Elmendorf CBO Obamacare Disincentives to Work

Yesterday we covered the CBO Report on loss of labor provided by workers as a result of Obamacare subsidies,  CBO confirms Obamacare subsidies create disincentive to work harder.

It’s all about how the implicit marginal tax rate — taxes plus loss of benefits — creates a disincentive to work hard because for...

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Jobs Report in Videos, Vine and Music

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Posted by  ▪  Saturday, January 11, 2014 at 7:30am
Obama Supporter Faints at Speech

We’re leaning forward, but not going anywhere.


(video h/t Hot Air)

(more…)

 
 
 

Jobs report — the new definition of “good”

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Posted by  ▪  Friday, May 3, 2013 at 8:43am

The jobs report released today is “good” news compared to what has been.

165,000 net new jobs were added. That’s good. Approximately 230,000 net new jobs would need to be added just to keep pace with population growth, so we’re still not actually growing the job market relative to population.

The...

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Obama jobs “recovery” nears completion as people leave workforce in droves

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Posted by  ▪  Friday, April 5, 2013 at 9:15am

The “unemployment rate” is a number which increasingly is just political, as we have the Obama-phenomenon of large numbers of people leaving the workforce thereby dropping the “unemployment rate” since people who leave the workforce don’t count as unemployed.

Long ago a

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This is what fear of the State looks like

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Posted by  ▪  Friday, November 9, 2012 at 8:21am

When companies self-censor to wait until the days after the election to announce major layoffs.

Via commenter conservativegram in the Tip Line:

As Drudge would say-”Own it!”

“Nextel to cut 20% of jobs at Virginia headquarters”

In Past 48 hrs, following companies announded layoffs:
Caterpillar, CVPH Medical Center, Lightyear Haqwker Beechcraft, Westinghouse, Research in Motion, US Cellular,...

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Unemployment rate at 7.9%, rate for Blacks increases to 14.3%

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Posted by  ▪  Friday, November 2, 2012 at 8:33am

Per October report by BLS:

Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade.

Both the unemployment rate (7.9 percent) and the number...

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“Unemployment Rate” at 8.1%, labor participation rate drops again, fewer than 100k new jobs created

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Posted by  ▪  Friday, September 7, 2012 at 9:15am

Another one of those anomolies which makes the unemployment rate look better than it is.  The rate as calculated drops when people drop out of the work force because they no longer are counted as unemployed.

So while the media and Obama campaign probably will try to spin the drop as a...

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Another bad unemployment report

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Posted by  ▪  Friday, August 3, 2012 at 9:16am

Via The Wall Street Journal:

The U.S. unemployment rate was rose to 8.3% in July and a broader measure ticked up to 15%, even as the economy added 163,000 jobs. Why the increase?

The key reason is because the two numbers come from separate reports. The number of jobs added — the 163,000...

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Why doesn’t Obama own some of the job losses between election and inauguration?

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Posted by  ▪  Sunday, July 8, 2012 at 4:58pm

Obama endlessly cites the loss of 750,000 “per month” just before he took office, as if that bottom was destined to be continued forever but for Obama.

It’s the extrapolation fallacy.

This video pretty much sums up the theme:

Yet why shouldn’t Obama own at least some of those job losses between his election...

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“Unemployment rate” holds at 8.2%, job growth stalls

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Posted by  ▪  Friday, July 6, 2012 at 8:37am

Just released June numbers:

Nonfarm payroll employment continued to edge up in June (+80,000), and the unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Professional and business services added jobs,
and employment in other major industries changed little over the month.

Household Survey Data

The number of unemployed persons (12.7...

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Bad unemployment

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Posted by  ▪  Friday, June 1, 2012 at 9:29am

The rate rose to 8.2%, but the real story via IBD, Core 25-54 Employment Rates Still Near Historic Lows:

The unemployment rate rose slightly to 8.2% in May, holding above 8% for the 40th straight month, the Labor Department reported Friday. But actual employment rates of core working age Americans suggests the...

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We better find the vision thing, fast

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Posted by  ▪  Friday, February 3, 2012 at 5:36pm

We are at the mercy of misleading statistics which nonetheless form the media narrative.

I posted earlier today about workers leaving the workforce in droves, which drives down the nominal unemployment rate and renders it a misleading statistic.  Yet the details are the details, and the headlines are the headlines.

Here are...

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Drop out nation

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Posted by  ▪  Friday, February 3, 2012 at 9:49am

More news about the drop in the labor participation rate, via Zero Hedge (emphasis in original):

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%....

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The election is not just about jobs, it’s about the vision thing

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Posted by  ▪  Friday, January 6, 2012 at 9:17am

There is a new jobs report out, with the usual caveats that the work force is shrinking, but the nominal unemployment rate is down to 8.5%.  That’s the number which counts politically.

The rate would be 10.9% if the same number of people were in the workforce as when Obama took office

The...

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Another Obama Counter-Indicator

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Posted by  ▪  Saturday, December 17, 2011 at 4:00pm

The more Obama pushes class warfare, the more people reject class warfare.  That’s certainly not what I expected.

It’s the counter-indicator effect.  If he’s for it, the opposite will happen.  Perhaps he should announce an Unemployment Plan instead of a Jobs Plan.

It’s another one of those Obama paradoxes, like the Catch-2012.

From Gallup:

Americans...

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