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US LOST 2 MILLION WORKERS IN 2013
Breitbart ^ | Jan 10, 2014 | By Mike Flynn

Posted on 01/10/2014 12:54:38 PM PST by Jim Robinson

Friday's December jobs report was a major disappointment, showing the economy gained just 74k jobs last month. Economists had expected the economy to gain around 200k jobs. The unemployment rate, however, dropped to 6.7% as 347k frustrated job-seekers gave up and left the labor force. We are in an upside-down world where a drop in the unemployment rate is a bad sign for the economy.

The overall labor force shrunk dramatically last year. In December 2012, 155.4 million workers had a job or were actively looking for one. Last month, though, 154.9 million were in the labor force, a drop of over 500k Americans.

It is important to remember that the population grew last year. The US adult population grew by around 2.5 million people. If the labor force were the same percentage of the adult population as last year, 2 million more adults would have jobs or be actively looking for employment. Their disappearance is a drag on the economy.

(Excerpt) Read more at breitbart.com ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: 0homocare; bhoeconomy; corruption; fraud; homoelectus; jobs; laborforce; layoffs; maybealittlebloooooo; obama; obamacare; obamalies; obamanomics; socialism; teacher; unemployment
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To: Dr. Ursus

Membership has its rewards.


21 posted on 01/10/2014 1:26:56 PM PST by cornfedcowboy
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To: Jim Robinson
During the last recession (which was short) the media flogged "jobless recovery" even into the time when the economy was growing vigorously.

This time, we really do have a jobless recovery, if you can call this miserable economy a recovery, and I don't recall seeing the phrase once in the media.

22 posted on 01/10/2014 1:27:28 PM PST by colorado tanker
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To: Jim Robinson

Bush’s Fault! [/sarc]


23 posted on 01/10/2014 1:29:36 PM PST by Repeal 16-17 (Let me know when the Shooting starts.)
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To: colorado tanker

There is no recovery. Just the fed propping up the markets with counterfeit money trying to prevent total collapse on Obama’s Marxist watch. The bill will come due in full when the phony money bubble inevitably bursts.


24 posted on 01/10/2014 1:33:37 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: cripplecreek

Good one...


25 posted on 01/10/2014 1:33:57 PM PST by DoughtyOne (ZERO is still zero, and John Kerry is a mock-puppet!)
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Comment #26 Removed by Moderator

To: RayChuang88; DannyTN
"Not a good idea. Read up on the Smoot-Hawley Tariff and how that made the depths of the Great Depression worse."

But don't read from the last ten years of rhetoric vomited by opinion columnists sponsored by the most influential constituents (those who also sponsor the media). Start here for some facts.

President Hoover signed the Smoot-Hawley Bill in June of 1930. Investments and GDP were declining steeply before Smoot-Hawley passed. GDP increased in 1934, while Smoot-Hawley was still in effect.

Not only was Hoover a Republican, but Smoot and Hawley were also Republicans. The onset of WWII wasn't the cause of the upturn, as the economy was reviving long before that.

Gross Domestic Product (ref. 1929 dollars in millions)

Year    GDP

1929   101,444
1930    91,513
1931    84,300
1932    70,682
1933    68,337
1934    74,609
1935    85,806
1936    95,798
1937   103,917
1938    96,670
1939   103,736
1940   112,961
1941   126,237

Source: National Bureau of Economic Research, NBER Series 08166.



Compensation from before World War I through the Great Depression

by Robert VanGiezen and Albert E. Schwenk
Bureau of Labor Statistics

John T. Dunlop and Walter Galenson, eds., Labor in the Twentieth Century (New York, Academic Press, 1978), p. 30.

Dunlop and Galenson, p. 27.

Year Unemployment rate

1923-29

3.3

1930

8.9

1931

15.9

1932

23.6

1933

24.9

1934

21.7

1935

20.1

1936

17.0

1937

14.3

1938

19.0

1939

17.2

1940

14.6

1941

9.9

1942

4.7


"I'd rather have streamlined business regulations and a much simpler, more business-friendly tax code to really stimulate real business growth in the USA. In effect, make American businesses way more competitive in the export market."

I would, too, but big, government-linked import interests aren't going to reverse their decades of work in local governments at outlawing new, small production shops (outlawing potential competition). Only one of their many efforts against new, potential, domestic competition.


27 posted on 01/10/2014 1:40:37 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: DannyTN

How did U.S. exports do during this same period?


28 posted on 01/10/2014 1:58:09 PM PST by 1rudeboy
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To: Jim Robinson

Rush Limbaugh: I want him to fail.

Looks like Limbaugh is NOT getting his wish.


29 posted on 01/10/2014 2:12:48 PM PST by demshateGod (The fool hath said in his heart, There is no God.)
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To: 1rudeboy
"How did U.S. exports do during this same period?"

Our exports are dwarfed by our imports. So it doesn't really matter if exports get hurt some.

At the start of the Great Depression, exports were equal to 4% of GNP. Volume dropped by less half. However because world wide prices had crashed for all products, the dollar value of the decrease was greater. Also note that throughout the roaring 20's, a period of great economic progress, our tariffs were about 22%. The Smoot Hawley tariff was on top of that.

During the Jeffersonian trade embargo, in which almost all international trade was stopped. The price of goods normally imported rose by 30%. But the price of goods normally exported fell by 30%. So there were offsetting price effects in the economy.

30 posted on 01/10/2014 2:20:41 PM PST by DannyTN (A>)
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Comment #31 Removed by Moderator

To: Jim Robinson; Liz

US LOST 2 MILLION WORKERS IN 2013
__________________________________

How careless...

isn’t it a good thing the US gained 1.3 Million under 30 illegal alien DREAMers ???

do I really need to /s ???


32 posted on 01/10/2014 2:34:47 PM PST by Tennessee Nana
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To: DannyTN

Right, so export powerhouse that we were, when the dollar value (note, not %of GDP) fell by two thirds, it was insignificant.


33 posted on 01/10/2014 2:37:25 PM PST by 1rudeboy
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To: 1rudeboy
"Right, so export powerhouse that we were, when the dollar value (note, not %of GDP) fell by two thirds, it was insignificant.

During the Great Depression prices fell, which means the dollar value increased. The dollar bought more, just nobody had dollars.

34 posted on 01/10/2014 2:46:12 PM PST by DannyTN (A>)
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To: 1rudeboy
"Right, so export powerhouse that we were, when the dollar value (note, not %of GDP) fell by two thirds, it was insignificant.

During the Great Depression prices fell, which means the dollar value increased. The dollar bought more, just nobody had dollars.

35 posted on 01/10/2014 2:46:12 PM PST by DannyTN (A>)
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To: Jim Robinson

I’m one of them.


36 posted on 01/10/2014 2:47:03 PM PST by SueRae (It isn't over. In God We Trust.)
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To: DannyTN
I'm really not interested in playing "let's move the goalposts, today."

I simply was wondering if you thought that the crash in U.S. exports was insignificant also.

37 posted on 01/10/2014 2:48:01 PM PST by 1rudeboy
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To: 1rudeboy
"I simply was wondering if you thought that the crash in U.S. exports was insignificant also."

Yes, again volume only decreased by less than 50% so we are talking about GNP being down 2% due to exports. But GNP was off 46% in industrial production. So exports were not significant.

The drop in exports did get blamed a little for being the straw that broke the camels back with the banking failure. Banks had been weak and growing weaker ever since the stock market crash in '29. Some blamed the failure of loans to exporters for being the final straw. But we didn't have any lender of last resort like the Federal Reserve or any thing to prop up the banks during a liquidity run. A liquidity run started in Europe and quickly spread to the U.S. and the banking system collapsed, taking many businesses down with it. The fact that a small proportion of loans went bad due to the drop in exports was more coincidental than a serious impact.

38 posted on 01/10/2014 3:00:24 PM PST by DannyTN (A>)
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To: DannyTN

If you decrease the “volume” of your weekly paycheck by “less than 50%” (whatever that means), will you notice?


39 posted on 01/10/2014 3:02:22 PM PST by 1rudeboy
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To: Jim Robinson

One bad economic report and the Fed called off the talk about “tapering” the money machine.


40 posted on 01/10/2014 3:16:57 PM PST by colorado tanker
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