The numbers were just released for new unemployment claims filed last week, and for the first time since March, fewer than 1 million new claims were filed.
Unemployment
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Trump Takes Executive Action On Unemployment and Other Relief, Dares Dems to Sue
Donald Trump announced several stimulus items taken by executive action after Democrats — as they did in the spring — held financial stimulus hostage to their grab bag of goodies unrelated to the virus.
As predicted, extra $600 per week unemployment enhancement skewing labor hiring market
One of the ways that the right explains their ideological differences from the left is that the right is realistic about human nature while the left is, on the one hand, too idealistic in its push for perfect citizens in their utopian fantasy and, on the other, ruthless in its “reeducation”...
June Jobs Report Blows Past Expectations With 224,000 New Jobs
The June jobs report blew apart expectations of economists as it showed the economy added 224,000 new jobs. Economists predicted only 160,000 jobs.
Unemployment crept up to 3.7% from 3.6%. However, the revisions are the noisy part of the report. The Labor Department trimmed 8,000 jobs...
Pants on Fire: Politifact confirms Alexandria Ocasio-Cortez doesn’t know how unemployment rate works
Democratic Socialist Alexandria Ocasio-Cortez is the new face of the progressive base that generates all the excitement in the Democratic Party. Her primary defeat of establishment Democrat Joe Crowley has catapulted Ocasio-Cortez into non-stop adulation from the mainstream media.
Ocasio-Cortez is moving Democrats even further left. Her call to Abolish ICE quickly...
U.S. Economy Adds 235,000 Jobs in February
The Labor Department has reported that the U.S. economy added 235,000 jobs in February. This stat has lowered the unemployment rate to 4.7% while wages went up “2.8 percent from February 2016.” From Bloomberg:
“We’re getting closer and closer to full employment,” said Ryan Sweet, an economist at Moody’s Analytics Inc. in...
Historic High: 95 Million Americans Not in Labor Force
In today’s Obama legacy news, the number of Americans not in the labor force reaches an all-time high of 95 million.
The Washington Free Beacon reports:
The number of Americans not participating in the labor force hit a new record in November, exceeding 95 million for the first time, according to the latest...
Everything you need to know about the July jobs report in one chart
There were no surprises in the July 2015 jobs report:
Here is how to think about the July jobs numbers that the government released Friday morning: Whatever...
Declining workforce participation is Obama’s greatest achievement
How many times have we written about this? Too many to capture them all.
The Obama economy has created a perverse distortion of the “Unemployment Rate” because that widely-reported rate represents the percentage of the total workforce actively seeking employment but not able to find employment.
The more people who give up hope,...
Hillary Clinton: Businesses Don’t Create Jobs, Gubmint does
Wow.
While campaigning for Martha Coakley in Massachusetts, Hillary Clinton took a jab at trickle down economics and in the process of doing so, claimed that corporations and businesses don’t create jobs.
The Washington Free Beacon has the story:
Hillary Clinton: Corporations and Businesses Don’t Create Jobs
At a Democratic rally in Massachusetts, Hillary Clinton’s...
Why I’m against drug testing for unemployment benefits and food stamps
It’s long been a rallying cry of the right: if you want to be on the public dole, you should be able to pass a drug test. You’ve seen the memes and the bumper stickers. Sounds good, right?
Governor Walker of Wisconsin has proposed his plan that would require drug testing for those...
Obama’s Legacy: Part-time America
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.
Breaking: The economy added 288,000 jobs in June while the
unemployment rate...
Five years into our 20-year lost decade
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...
CBO warning for years that Obamacare creates disincentive 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...
Jobs report — the new definition of “good”
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...
Obama jobs “recovery” nears completion as people leave workforce in droves
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.
