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  • Only 169,000 Jobs Added in April, Says ADP

    05/06/2015 8:57:50 AM PDT · by SeekAndFind · 3 replies
    US News and World Report ^ | 05/06/2015 | Andrew Soergel
    Many economists expected a rebound after last month’s soft jobs numbers, but the ADP National Employment Report released Wednesday shows little sign of such a turnaround. The domestic economy added only 169,000 jobs in April, according to the Wednesday report, and March additions were revised down from an original 189,000 to 175,000. This is the second consecutive month of sub-200,000 job additions, which previously hadn’t happened in a single month since January 2014. Service-providing firms added 170,000 positions last month, with the most pronounced month-over-month gains seen in the professional/business services and trade/transportation/utilities sectors. But goods-producing jobs shed 1,000 positions...
  • Beware of the phantom: ‘New jobs’ hoax

    05/06/2015 8:55:40 AM PDT · by SeekAndFind · 2 replies
    New York Post ^ | 05/06/2015 | John Crudele
    Get ready for another ride on the economic roller coaster. Last week, we got bad news about the economy when it was announced that the US gross domestic product barely rose in the first three months of 2015. And it looks as though the 0.2 percent annualized growth reported by the Commerce Department for the winter months will turn into a contraction when revisions are made at the end of May. Worse, GDP in the second quarter hasn’t gotten much better. The Atlanta Federal Reserve’s GDPNow, which tracks the economy in real time, has GDP growing at a wimpy 0.8...
  • Sen. Jeff Sessions: Top Five Concerns With Trade Promotion Authority (Covert Immigration Bill)

    05/06/2015 5:51:07 AM PDT · by xzins · 17 replies
    Conservative HQ ^ | 5/6/2015 | CHQ Staff
    Congress has the responsibility to ensure that any international trade agreement entered into by the United States must serve the national interest, not merely the interests of those crafting the proposal in secret. It must improve the quality of life, the earnings, and the per-capita wealth of everyday working Americans. The sustained long-term loss of middle class jobs and incomes should compel all lawmakers to apply added scrutiny to a “fast-track” procedure wherein Congress would yield its legislative powers and allow the White House to implement one of largest global financial agreements in our history—comprising at least 12 nations and...
  • Baltimore Is Not About Race

    05/05/2015 7:04:45 AM PDT · by KeyLargo · 7 replies
    The Wall Street Journal ^ | May 4, 2015 | William McGurn
    Baltimore Is Not About Race Government-induced dependency is the problem—and it’s one with a long history. By William McGurn May 4, 2015 For those who see the rioting in Baltimore as primarily about race, two broad reactions dominate. One group sees rampaging young men fouling their own neighborhoods and concludes nothing can be done because the social pathologies are so overwhelming. In some cities, this view manifests itself in the unspoken but cynical policing that effectively cedes whole neighborhoods to the thugs. Opinion Journal Video Manhattan Institute Senior Fellow Jason Riley on what prompted the violence and what comes next....
  • Jobs elusive for 40% of area poor: Survey respondents still struggling

    05/03/2015 1:41:59 PM PDT · by 2ndDivisionVet · 47 replies
    The Fort Wayne Journal Gazette's Local ^ | May 3, 2015 | Sherry Slater
    A survey targeting local low-income families has found that 40 percent of respondents felt they have very little or no job security, according to results being released this week. That kind of instability makes it challenging to commit to car loans, apartment leases and tuition payments – steps often necessary to improving a family’s economic standing. Of those participating in the survey, more than 1 in 2 has received free groceries or meals and about 1 in 4 has needed help with housing, utilities or health care. The 502 responses reflect the experiences of those who continue to struggle in...
  • Easy free solution to Baltimore's 8%+ and 37%+ unemployment rates:Increase their minimum wage

    05/01/2015 6:46:57 AM PDT · by sickoflibs · 19 replies
    SOL (reference links in body) | 5/1/2015 | sickoflibs
    Some fun relevant facts: Maryland's unemployment rate is ~ 5.5% Baltimore unemployment rate is ~ 8.2 % Baltimore unemployment rate for young black men is ~ 37% %Source CNN Money Maryland's minimum wage is $8.25 per hour Baltimore's minimum (called ‘living’) wage is much higher : ~ $11.50 per hour.source baltimorebrew .com Yep, almost $12 per hour. Recall how we are lectured that outlawing these low paying entry level jobs will create better paying jobs, because they all get a raise which they spend. Yep, no HS degree, no work experience, probably an arrest record (try looting businesses) . Sure...
  • Bell Helicopter announces 1,100 layoffs

    04/29/2015 2:36:35 PM PDT · by 2ndDivisionVet · 11 replies
    KATC-TV ^ | April 28, 2015
    Bell Helicopter announced today that it will lay off 1,100 employees. The Fort Worth-based helicopter company has a location on Pont Des Mouton Road in Lafayette, according to the company's website. The company did not release specifics on which locations will see layoffs, but the communications director did say in a news release that the reduction in workforce will apply to all areas of the business, both management and non-management, and covered and non-covered workers. In addition to its Pont Des Mouton location, Bell Helicopter broke ground in August last year on an 82,300-square-foot aircraft assembly center near the Lafayette...
  • In 1 in 5 Families in U.S., No One Works

    04/28/2015 7:16:12 PM PDT · by 2ndDivisionVet · 51 replies
    CNS News ^ | April 27, 2015 | Ali Meyer
    In 19.9 percent of American families in 2014, according to data released by the Bureau of Labor Statistics (BLS), no one in the family worked. A family, as defined by the BLS, is a “group of two or more persons residing together who are related by birth, marriage, or adoption. In 2014, there were 80,889,000 families in the United States, and in 16,057,000 of those families, or 19.9 percent, no one had a job. The BLS designates a person as “employed” if “during the survey reference week” they “(a) did any work at all as paid employees; (b) worked in...
  • Congress: Middle class incomes drop as immigration surges

    04/23/2015 2:23:07 PM PDT · by xzins · 46 replies
    Washington Examiner ^ | APRIL 23, 2015 | PAUL BEDARD
    Wages of America's middle class have dropped below 1970s levels as immigration has surged 325 percent, according to a new congressional report that questions claims that native Americans are economically helped by greater immigration. The nonpartisan Congressional Research Service report studied immigration and middle class income from 1945-2013 and found that as immigration slowed between 1945 and 1970, American incomes increased. But when immigration expanded, the incomes of the bottom 90 percent of Americans went flat and then dropped beginning in 2000. In the report to the Senate Judiciary Committee, the CRS reported that the foreign-born population of the United...
  • Immigration and Barack Obama's New Americans

    04/22/2015 2:30:14 PM PDT · by PoliticallyShort · 14 replies
    PoliticallyShort.com ^ | 04/22/2015 | PoliticallyShort
    While the American voters sent a message of repudiation against the overreach of the executive branch in the November 2014 elections, the executive responded by informing the voters that their message would be ignored. As Republicans won in a landslide election that gave them control of Congress by vowing to stop the overreach of the Obama administration, it simply didn’t matter. In an interview with the Huffington Post last month, Barack Obama conveyed this message by stating that he will, “try to reach out to Republicans and see if they can work with us and where they’re not willing to...
  • Employers cut jobs in 31 US states as growth slows

    04/21/2015 5:10:54 PM PDT · by Kartographer · 16 replies
    AP via Yahoo News ^ | 4/21/15 | CHRISTOPHER S. RUGABER
    Employers in 31 U.S. states cut jobs last month as weak economic growth weighed on hiring and a slowdown in oil and gas drilling caused big job losses in some states. The Labor Department said Tuesday that unemployment rates rose or were unchanged in 27 states and fell in 23 states. Eighteen states gained jobs, while employment was unchanged in Idaho.
  • Why Are Many Former Workers Not Even Applying for Job Openings?

    04/20/2015 10:22:45 PM PDT · by Nachum · 21 replies
    The Daily Signal ^ | 4/20/15 | Patrick Tyrrell
    Commentary By Portrait of Patrick Tyrrell Patrick Tyrrell There was good news this month: private-sector job openings rose slightly in February, according to data released by the Bureau of Labor Statistics. Openings rose to 3.8 percent of all private-sector jobs and the job openings—the highest rate since January 2001. Other data for the month showed the unemployment rate for workers age 25-54 (often called prime age workers) ticked downward to 4.6 percent from 4.8 percent.
  • Why Are So Many Workers Refusing To Apply For Jobs?

    04/21/2015 4:07:10 AM PDT · by IBD editorial writer · 55 replies
    Investor's Business Daily ^ | 04/20/2015 | John Merline
    Since the end of the recession in June 2009, the number of job openings in the private sector has steadily climbed — just as one would expect to happen as the economy recovered. But over those same years, the share of 25- to 54-year-olds who are active in the labor market has steadily fallen...
  • Oh My: Some People Support A $50 Minimum Wage

    04/18/2015 9:46:09 PM PDT · by 2ndDivisionVet · 37 replies
    Townhall ^ | April 17, 2015 | Matt Vespa
    Dan Joseph is on a mission. Who supports a $50/hour minimum wage? What better place to put forward such a bold initiative than in the free speech zone on the sanctified grounds of George Mason University in Virginia. (VIDEO-AT-LINK)Now, while Joseph was able to find a few supporters, some students on campus knew that raising the minimum wage will lead to job losses and increased pricing for some goods. One man called the law racist and he’s not the only one. The late economist Milton Freidman described minimum wage laws as the most anti-African-American law on the books, as he...
  • The Looming Minimum Wage Hike: Stuck on Stupid

    04/18/2015 9:53:04 AM PDT · by SeekAndFind · 27 replies
    American Thinker ^ | 04/18/2015 | William Sullivan
    We might be inclined to laugh off the national demonstrations calling for a $15/hr minimum wage for burger-flippers, as the suggestion should be received as utterly ridiculous in any intelligent economic debate. But the left isn’t laughing. They’re undoubtedly ecstatic at the media legs such demonstrations have maintained against all odds, and they can’t wait to roll out these downtrodden fast-food workers as a reason to increase the federal minimum wage, victims as they are of an evil system of economic organization that dares assign a value to labor performed in the context of supply and demand. That evil is,...
  • Coal Producer Xinergy Files for Bankruptcy in Virginia

    04/17/2015 12:09:17 PM PDT · by 2ndDivisionVet · 8 replies
    ROANOKE, VA (AP) -- Coal producer Xinergy Ltd. and more than two dozen subsidiaries have filed for Chapter 11 bankruptcy. Knoxville, Tennessee-based Xinergy filed a Chapter 11 petition last week in U.S. Bankruptcy Court in Roanoke, Virginia. The petition lists zero to $50,000 in assets and about $100 million to $500 million in liabilities....
  • Coach is Right, Friday Short Stories

    04/17/2015 9:11:42 AM PDT · by Oldpuppymax
    Coach is Right ^ | 4/17/15 | John C. Velisek USN (Ret.)
    1.) Who’s Fighting For 15? Workers Or Big Labor. A nationwide minimum wage protest planned for Wednesday is being called out by critics who claim the self-proclaimed grassroots movement is actually just a paid stunt by big labor. “This is an orchestrated effort,” Ryan Williams, media advisor for Worker Center Watch, said during a press call Monday. “The union has invested upwards of $20 million.” Additionally, as sources for The Daily Caller News Foundation point out, the SEIU has spent $637,243 in strike benefits to some groups involved despite them not reporting any members. The concept refers to when a...
  • The US labor market recovery is missing one ingredient: Labor Force Participation

    04/17/2015 9:03:29 AM PDT · by SeekAndFind · 10 replies
    The Blackrock Blog ^ | 04/17/2015 | by Russ Koesterich, CFA BlackRock Global Chief Investment Strategist
    Despite last month’s poor jobs report, the U.S. labor market is improving. Job creation is running at the fastest pace since the late 1990s, and there is some evidence that wage growth is finally starting to accelerate, albeit modestly.However, one key component is missing from the labor market recovery: rising labor force participation.In March, labor force participation declined 0.1% to 62.7%, the lowest rate since the late 1970s.Why are so few Americans participating in the labor market even as jobs become more plentiful? I see three main reasons.1. An aging population. While the Great Recession inflicted significant damage on the...
  • US jobless claims hit six-week high, rises by 12,000 to 294,000

    04/16/2015 9:00:22 AM PDT · by SeekAndFind · 14 replies
    Yahoo News ^ | 04/16/2015
    New claims for US unemployment insurance benefits rose more than expected last week to their highest level in six weeks, the Labor Department reported Thursday. Initial jobless claims, a sign of the pace of layoffs, climbed to 294,000 in the week ending April 11, an increase of 12,000 from the prior week's slightly upwardly revised number. Analysts had expected claims would hold steady from the previous week. The four-week moving average, which helps to smooth week-over-week volatility, inched up by 250 to 282,750. A year ago the average was 316,000.
  • The Really Lost Generation

    04/14/2015 9:31:03 AM PDT · by Academiadotorg · 36 replies
    Accuracy in Academia ^ | April 14, 2015 | Malcolm A. Kline
    If the raccoon coat-wearing youth of the 1920s really were the lost generation, what would you call millennials? Generation Opportunity, “a national, non-partisan youth advocacy organization,” crunched the employment and unemployment data for March in its Millennial Jobs Report for March 2015” and found that: • “The effective (U-6) unemployment rate for 18-29-year-olds, which adjusts for labor force participation by including those who have given up looking for work, is 13.9 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 9.1 percent (NSA). • “The declining labor force participation rate has created an additional 1.842 million young adults...
  • Babs unhinged! Streisand sings Obama's praises over jobs

    04/11/2015 8:08:18 AM PDT · by rktman · 44 replies
    wnd.com ^ | 4/11/2015 | Chelsea Schilling
    Barbra Streisand may not be the brightest star in Hollywood. In fact, sometimes you look into her eyes and get the feeling someone else is driving. The starlet, who once compared President Obama to “kings” and “gods,” penned a March 30 commentary in the Huffington Post singing the praises of the president for “creating” so many jobs in the last five-and-a-half years. The piece, titled, “Have you heard the good news?,” promptly heaps praise on Obama: “In the wake of the financial crisis, President Obama took the helm of a sinking economic ship and help to right it. The unemployment...
  • The robots are not threatening your job

    04/10/2015 4:34:59 AM PDT · by SeekAndFind · 20 replies
    Washington Post ^ | 04/10/2015 | By Catherine Rampell
    The Great Robot Freakout of 2015 has begun, and it looks a lot like the robot freakouts that came before it. In a new survey by CNBC, Americans were asked how concerned they were, if at all, that their jobs could be replaced by technology in the next five years. The level of automation angst was astonishing: About 1 in 8 workers indicated was worried about being displaced. Among those earning less than $30,000, it was a whopping 1 in 4. No doubt these workers have seen travel agents, bank tellers, typists, mid-skilled manufacturing workers and other occupations of yore...
  • Jobless claims at 281,000 week ending April 4, 2015. Better than expected

    04/09/2015 6:32:12 AM PDT · by SeekAndFind · 27 replies
    Washington Examiner ^ | 04/09/2015 | BY JOSEPH LAWLER
    There were 281,000 first-time claims for unemployment for the week ending April 4, the Department of Labor reported Thursday. That was an increase from the previous week's revised 268,000 jobless claims, adjusted for seasonal fluctuations, but better than investors expected. The four-week moving average of claims, meanwhile, fell by 3,000 to 282,250. That average was the lowest since June of 2000, reflecting the ongoing improvement in the U.S. labor market. Low first-time claims for unemployment insurance benefits are viewed as a positive sign for the economy, as fewer layoffs generally indicate greater net hiring. Thursday's good news comes after Friday's...
  • Barbra Streisand Fails to Notice That 6.6 Million Jobs Have Gone Missing

    04/08/2015 10:09:24 AM PDT · by SeekAndFind · 13 replies
    National Review ^ | 04/08/2015 | Stephen Moore
    Poor Barbra Streisand. Just last week the renowned economist (who also describes herself as a “singer,” “actress,” and “activist”) penned an opinion piece titled “Have You Heard the Good News?” about how well the economy is performing under Barack Obama. It was a pep rally of sorts, and all that was missing were the pom-poms. “President Obama’s Administration, with only opposition from the Republicans,” she gushed, “has steadily helped put more than 11 million Americans back to work in the private sector.” Then two days later the dismal jobs report for March was released. Bad timing, for sure. The statistic...
  • 9K Off Of Food Stamps After Maine Begins Work Requirements

    04/08/2015 9:15:37 AM PDT · by george76 · 33 replies
    CNS News ^ | April 8, 2015 | Eric Scheiner
    12,000 non-disabled adults were in Maine’s SNAP program before Jan. 1 - a number that dropped to 2,680 by the end of March. More than 9,000 Maine residents have been removed from the state's food stamp program since Republican Gov. Paul LePage's administration began enforcing work and volunteer requirements. The new rules prevent adults who are not disabled and do not have dependents from receiving food stamps for more than three months - unless they work at least 20 hours a week, participate in a work-training program or meet volunteering requirements. DHHS Commissioner Mary Mayhew said the goal of the...
  • The Numbers That Matter Most from the Jobs Report: We should NOT be using the official numbers

    04/05/2015 12:51:12 PM PDT · by SeekAndFind · 13 replies
    Fiscal Times ^ | 04/05/2015 | BY MIKE CASSIDY
    The March monthly jobs report released on Friday actually shares two striking similarities with Easter (hint: jellybeans are not one of them). One similarity is that, in each case, our attention is often focused on the wrong things. The labor market headlines, as usual, are focused on job growth and the unemployment rate. Employers added just 126,000 jobs in March, which, together with a reduction of 69,000 in the job creation estimates for January and February, suggests that the pace of recovery is slower than previously thought. Nevertheless, with unemployment rate steady at 5.5 percent — just fractions of a...
  • Is the internet killing middle class jobs?

    04/05/2015 5:14:03 AM PDT · by SeekAndFind · 152 replies
    The Week ^ | 04/04/2015 | James Pethokoukis
    The Robopocalypse for workers may be inevitable. In this vision of the future, super-smart machines will best humans in pretty much every task. A few of us will own the machines, a few will work a bit — perhaps providing "Made by Man" artisanal goods — while the rest will live off a government-provided income. Silicon-based superintelligence and robots will dramatically alter labor markets — to name but one example, the most common job in most U.S. states probably will no longer be truck driver. But what about right now? If you're unemployed or working part-time instead of full-time, or...
  • Seattle minimum wage increase takes effect and eating out gets more expensive

    04/04/2015 11:20:16 AM PDT · by lowbridge · 69 replies
    fox news ^ | april 2, 2015 | dan springer
    <p>Eating meals out in Seattle just got more expensive as tens of thousands of low wage workers got a raise this week to $11 an hour. It was the first scheduled pay increase on the way to $15 an hour, the highest minimum wage in the country.</p>
  • 2014’s Jobs Boom Wasn’t Even Much of a Boom. Does This Jobs Report Mean It’s Already Over?

    04/04/2015 5:52:06 AM PDT · by SeekAndFind · 11 replies
    National Review ^ | 04/04/2015 | Patrick Brennan
    It is too early to say whether this morning’s seriously disappointing jobs report — 126,000 jobs added in March, only about half of what was expected — is the end of the run of strong jobs growth we saw for most of 2014. (Some called it the Obama boom; I prefer to think of it as the Mitch-McConnell-is-almost-majority-leader boomlet.) But it’s not a good sign, combined with the fact that January and February’s numbers were revised down noticeably, which is sometimes seen as evidence of deeper trends. Growth in the first three months of the year has now averaged 197,000...
  • Americans Not in Labor Force Exceed 93 Million for First Time; 62.7% Labor Force Participation…

    04/03/2015 11:51:16 AM PDT · by Olog-hai · 51 replies
    Cybercast News Service ^ | April 3, 2015 - 8:58 AM | Ali Meyer
    The number of Americans 16 years and older who did not participate in the labor force—meaning they neither had a job nor actively sought one in the last four weeks—rose from 92,898,000 in February to 93,175,000 in March, according to data released today by the Bureau of Labor Statistics. That is the first time the number of Americans out of the labor force has exceeded 93 million. Also from February to March, the labor force participation rate dropped from 62.8 percent to 62.7 percent, matching a 37-year low. Five times in the last twelve months, the participation rate has been...
  • Unemployment Rate Unchanged At 5.5%, US Employers Added A Lower-Than-Expected 126,000 Jobs in March

    04/03/2015 6:33:48 AM PDT · by SeekAndFind · 27 replies
    International Business Times ^ | 04/03/2015 | Jessica Menton
    U.S. employers added 126,000 jobs in March as the unemployment rate remained unchanged at 5.5 percent, the Labor Department said Friday. Economists polled by Thomson Reuters had expected net job growth of 250,000 last month. February was revised down from 295,000 to 264,000. The drop in March is under the average 269,000 jobs added over the previous 12 months. Job creation jumped in February despite harsh winter weather, and the U.S. has added at least 200,000 jobs per month for 12 consecutive months, a feat not seen in 20 years. However, the sharp gains in job creation in recent months...
  • US jobless claims down while trade deficit narrows, according to Labor Dept.

    04/02/2015 7:26:39 AM PDT · by SeekAndFind · 8 replies
    CSM ^ | 04/02/2015 | Lucia Mutikani
    WASHINGTON — The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market continues to expand at a solid clip even as economic growth has stalled. Sustained labor market strength supports views that the sharp slowdown in activity is probably temporary. A host of factors ranging from bad weather to a strong dollar has sucked momentum from the economy in the first quarter. Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 268,000 for the week ended March 28, the Labor Department said on Thursday. That was the lowest level...
  • ADP: Private-sector job growth of 189,000 in March, 2015

    04/01/2015 3:08:16 PM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 04/01/2015 | Ed Morrissey
    The recent spate of softening economic indicators continues today with the ADP employment report for March. Private-sector job growth came to 189,000, the lowest result in more than a year, and the manufacturing sector dropped for the first time in 14 months:CLICK ABOVE LINK FOR THE VIDEO Private sector employment increased by 189,000 jobs from February to March according to the March ADP National Employment Report®. …Payrolls for businesses with 49 or fewer employees increased by 108,000 jobs in March, up from 103,000 in February. Employment among companies with 50-499 employees increased by 62,000 jobs, up from 57,000 the...
  • The Great Worker Shortage

    04/01/2015 6:59:31 AM PDT · by SeekAndFind · 26 replies
    Forbes ^ | 04/01/2015 | Steve Moore
    The great conundrum of the U.S. economy today is that we have record numbers of working age people out of the labor ‎force at the same time we have businesses desperately trying to find workers. As an example, the American Transportation Research Institute estimates there are 30,000 – 35,000 trucker jobs that could be filled tomorrow if workers would take these jobs–a shortage that could rise to 240,000 by 2022. While the jobs market overall remains weak, demand is high for in certain sectors. For skilled and reliable mechanics, welders, engineers, electricians, plumbers, computer technicians, and nurses, jobs are plentiful;...
  • The Poverty of Identity Politics

    03/31/2015 12:17:31 PM PDT · by Kaslin · 3 replies
    Townhall.com ^ | March 31, 2015 | Armstrong Williams
    Imagine if the current President were a Republican, and if during the second half of his second term, after having been elected both times with record turnout by blacks, the black unemployment rate remained stagnant at 11 percent while the black poverty rate hit a record high of 27 percent. What would black politicians be saying about that Republican President? We don’t really need to answer that question, do we? But for arguments sake, let’s imagine that almost seven years after the great recession the country was basically back to work, with an official unemployment rate haven fallen from almost...
  • European Jobless Rates By Country: Youth Unemployment In Greece, Spain Remains Over 50%

    03/31/2015 7:46:30 AM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 03/31/2015 | Tyler Durden
    Earlier today, the supposedly resurgent Eurozone reported a February unemployment number of 11.3%, which not only missed consensus but was worse than the highest estimate. This miss meant the recent steady trend of improvement would have halted if January's unemployment print of 11.3% hadn't been revised higher by 10 bps.  Still, 11.3% is better than the 11.8% reported a year ago, and as  the chart below shows, the trend is certainly Europe's friend if only for the time being. One does wonder, however, how much of the improvement is due to the borrowing the BLS' favorite tradition of lowering...
  • Obama’s 2010 Economic Estimate For 2014 Off By $1 Trillion

    03/30/2015 1:52:35 PM PDT · by george76 · 4 replies
    Daily Caller ^ | 03/30/2015 | Neil Munro
    It highlights the huge gap between Obama’s promise that his progressive, big-government economic policies would jump-start the economy, and the hard reality of America’s complex society and economy. The failure of Obama-economics was highlighted March 28, when the federal government admitted that the economy grew only 2.2 percent in 2014. ... Since 2009, the U.S. population has grown from 305 million to 321 million, including 11 million illegals. ... Even as he doubles down on his high-regulation, high-immigration policies, Obama insists that his top priority is increasing wages. ... But he’s continuing to rapidly add immigrants to the nation’s flooded...
  • U.S. jobless claims up slightly to 291,000; current account gap widens

    03/19/2015 7:37:22 AM PDT · by SeekAndFind · 5 replies
    Reuters ^ | 03/19/2015 | LUCIA MUTIKANI
    The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth. Output has slowed in the first quarter, undercut by a harsh winter, a strong dollar, weaker overseas growth and a now-settled labor dispute at West Coast ports, mostly transitory factors that should fade by the second quarter. The Federal Reserve on Wednesday acknowledged the moderation in growth, but maintained its upbeat view of the jobs market and signaled it was nearing an interest rate increase by dropping the reference to being "patient" from its...
  • Federal agencies make $125B in improper payments last year

    03/16/2015 6:42:21 PM PDT · by Olog-hai · 17 replies
    Associated Press ^ | Mar 16, 2015 5:47 PM EDT | Stephen Ohlemacher
    Federal agencies made $125 billion in improper payments last year, including tax credits to people who didn’t qualify, Medicare payments for treatments that might not be necessary and unemployment benefits for people who were actually working, said a government report released Monday. The level of improper payments was a new high after several years of declines. In addition to fraud, the errors included overpayments and underpayments, as well payments made without proper documentation. While the errors were spread among 22 federal agencies, three programs stood out: Medicare, Medicaid and the Earned Income Tax Credit. Together, the three programs accounted for...
  • Can We Adapt To the Rise of the Robot?

    03/16/2015 4:39:49 AM PDT · by SeekAndFind · 17 replies
    RCM ^ | 03/16/2015 | Robert Samuelson
    For some time, I've been collecting news stories about robots and jobs. By robots, I mean almost any automated process that substitutes machines for people. Here are some examples: â—Ź The restaurant chain Chili's installed 45,000 computer tablets in its U.S. locations, says The Post. The tablets enable customers to pay their bills, play games and place some orders. â—Ź One hotel is introducing a robot bellhop that delivers items to guests' rooms, reports the New York Times. The same story mentions automated golf caddies. Another Times story reports that the German firm Daimler has demonstrated a self-driving truck. â—Ź...
  • $100 Trillion American Economic Collapse with Jim Rickards

    12/11/2014 8:11:12 AM PST · by Ghost of SVR4 · 11 replies
    Youtube ^ | Oct 21, 2014 | Jim Rickards
    I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.
  • Nearly At ‘Full Employment’? 10 Reasons Why The Unemployment Numbers Are A Massive Lie

    03/13/2015 11:11:14 AM PDT · by SeekAndFind · 14 replies
    TEC ^ | 03/13/2015 | Michael Snyder
    Last Friday, we learned that the official “unemployment rate” has fallen to 5.5 percent. Since an unemployment rate of 5 percent is considered to be “full employment” by many economists, many in the mainstream media took this as a sign that the U.S. economy has almost fully “recovered” since the last recession. In fact, according to the Wall Street Journal, some Federal Reserve officials believe that “the U.S. economy is already at full employment“. But how can this possibly be? It certainly does not square with reality. Personally, I know people that have been struggling with unemployment for years and...
  • Kimberley gas plant protesters ‘left nothing’ for people

    03/12/2015 1:53:44 PM PDT · by naturalman1975 · 4 replies
    The Australian ^ | 13th March 2015 | Andrew Burrell
    THE Aboriginal leader who backed a $40 billion gas plant in the Kimberley as a way of creating indigenous jobs has attacked “extreme nutter” environmentalists who he says derailed the plan but have since done nothing to help the region’s impoverished people. Wayne Bergmann, a businessman and former head of the Kimberley Land Council, told an oil and gas conference in Perth yesterday that suicide rates and unemployment were rising in the Kimberley due to a paucity of jobs, especially for younger people. Telstra director Geoff Cousins and singers Missy Higgins and John Butler were among those who opposed the...
  • Compare current president and past presidents using federal government economic data.

    03/08/2015 9:27:20 PM PDT · by WilliamofCarmichael · 16 replies
    Federal government agencies ^ | Marrch 8, 2015 | WilliamofCarmichael
    The table that I assembled is in response to vague references that we see and hear like "the BLS said", "the WSJ said", "radio/TV/Blog/column said" . . . the table has links directly to the original data. It's too large to post repeatedly on threads though I do hope to keep it current quarterly (with annualized data) until Election 2016. And change/add columns as needed.
  • US jobless claims return below 300,000

    03/12/2015 7:49:00 AM PDT · by SeekAndFind · 8 replies
    Yahoo Finance ^ | 03/12/2015
    New claims for US unemployment insurance fell last week after two weeks of gains amid severe winter weather, Labor Department data showed Thursday. Initial jobless claims fell 11 percent to 289,000 in the week ending March 7. The previous week's level was revised up by 5,000 to 325,000. "Harsher-than-usual winter weather likely boosted the level in the previous two weeks," said Jim O'Sullivan, chief US economist at High Frequency Economics, in a research note. "We doubt the underlying trend in claims has changed significantly. A sub-300K trend in claims implies continued strong employment growth and no let-up in the downtrend...
  • Unemployment Lower, Not Working At Record High

    03/07/2015 7:02:02 AM PST · by TurboZamboni · 15 replies
    WIBW ^ | 3-6-15 | CNNMoney/WIBW
    NEW YORK (CNNMoney/WIBW) -- There is good news, but there are still serious concerns because only 123,000 of those jobs were full time. Analysis will be found at the bottom of the story and in attached government reports. Officials claim that the U.S. economy added 295,000 jobs in February, which crushed expectations. That beat the estimate from CNNMoney's survey of economists, who predicted 235,000 job gains.
  • US job market faces hurdles even with 5.5 pct. unemployment

    03/06/2015 9:09:41 PM PST · by Olog-hai · 16 replies
    Associated Press ^ | Mar 7, 2015 12:02 AM EST | Christopher S. Rugaber
    Unemployment in the U.S. has dropped to a seven-year low of 5.5 percent—a level normally considered the mark of a healthy job market. Yet that number isn’t as encouraging as it might sound. While U.S. employers added a solid 295,000 jobs in February, and the jobless rate fell from 5.7 percent, it went down mostly because many people gave up looking for work and were no longer officially counted as unemployed, the government reported Friday. What’s more, wage gains remained sluggish. Those trends suggest that the job market, while improving rapidly, isn’t quite as healthy as it looks. That complicates...
  • Where are the jobs? America’s new leisure class

    03/06/2015 9:04:11 AM PST · by SeekAndFind · 22 replies
    Townhall ^ | 03/06/2015 | Peter Morici
    To listen to President Obama, the U.S. economy is firing on all cylinders. Yet it is hardly creating jobs at a breakneck pace, and too many able-bodied men have grown lazy and show no interest in working. Friday, economists expect the Labor Department to report 230,000 jobs were added in February—down from 336,000 averaged the prior three months. Economists at Wells Fargo expect the pace for the entire year to be only 224,000. The culprits remain slow growth, and Obama’s attempts to remedy income inequality with government programs that fail to lift millions of Americans to dignified work. Since the...
  • Here’s What The Unemployment Rate Looks Like If You Add Back Labor Force Dropouts

    03/06/2015 8:04:52 AM PST · by E. Pluribus Unum · 12 replies
    The Federalist ^ | 03/06/2015 | Sean Davis
    The Department of Labor announced today that the official unemployment rate fell to 5.5 percent last month, the lowest it’s been since Spring of 2008. Good news, right? Well, kind of. The official unemployment rate masks a problem that’s been plaguing the economy since shortly before the 2009 recession: a continuing decline in the labor force participation rate, which basically measures the percentage of the able-bodied population that’s either working or looking for work. After holding steady at roughly 66 percent from 2004 through late 2008, the labor force participation has been falling, and falling, and falling some more, with...
  • 62.8%: Labor Force Participation Has Hovered Near 37-Year-Low for 11 Months

    03/06/2015 7:39:18 AM PST · by E. Pluribus Unum · 1 replies
    CNSNews.com ^ | 03/06/2015 | Ali Meyer
    (CNSNews.com) - The labor force participation rate hovered between 62.9 percent and 62.7 percent in the eleven months between April 2014 and this February, and has been 62.9 percent or lower in 13 of the 17 months since October 2013. Prior to that, the last time the rate was below 63 percent was 37 years ago, in March 1978 when it was 62.8 percent. The labor force participation rate declined to 62.8 percent in February, while another 92,898,000 Americans were not in the labor force, according to data released from the Bureau of Labor Statistics (BLS) on Friday. The participation...