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Keyword: unemployment

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  • Fact check: Anti-Obamacare chorus is off key

    02/06/2014 2:15:32 AM PST · by Olog-hai · 39 replies
    Associated Press ^ | Feb 6, 2014 3:12 AM EST | Calvin Woodward
    New estimates that President Barack Obama’s health care law will encourage millions of Americans to leave the workforce or reduce their work hours have touched off an I-told-you-so chorus from Republicans, who’ve claimed all along that the law will kill jobs. But some aren’t telling it straight. […] In a key point overlooked in the GOP response, the report says, “The estimated reduction stems almost entirely from a net decline in the amount of labor that workers choose to supply, rather than from a net drop in businesses’ demand for labor.” In other words, workers aren’t being laid off. They...
  • U.S. Jobless Claims Fall, Point To Firming Labor Market

    02/06/2014 6:40:10 AM PST · by mykroar · 16 replies
    The number of Americans filing new claims for unemployment benefits fell more than expected last week, in a boost to the labor market outlook and the broader economy. Initial claims for state unemployment benefits declined 20,000 to a seasonally adjusted 331,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported. Economists polled by Reuters had forecast first-time applications for jobless benefits falling to 335,000 in the week ended Feb. 1. The four-week moving average for new claims, considered a better measure of underlying labor market conditions as...
  • Specter of welfare state jolts Democrats; CBO hits election pitches for jobs

    02/06/2014 5:18:11 AM PST · by Cincinatus' Wife · 7 replies
    Washington Times ^ | February 5, 2014 | By Dave Boyer
    The White House and congressional Democrats tried to limit the fallout Wednesday from the politically damaging conclusion in a Congressional Budget Office report that the Obamacare entitlement creates a major incentive for some people not to work. While some critics focused on a finding by the CBO that Obamacare will result in 2.5 million fewer workers over a decade, conservatives said the bigger fundamental issue highlighted in the report is one familiar to the welfare state — that taxpayer-funded government subsidies provide disincentives for full-time work. “People used to be stuck in jobs because they needed the health insurance,” said...
  • Kellogg closing Charlotte snack plant, cutting 195 jobs

    02/05/2014 5:48:47 PM PST · by 2ndDivisionVet · 16 replies
    The Charlotte Observer ^ | February 4, 2014 | Ely Portillo
    Michigan-based Kellogg Co. said Tuesday that it plans to shutter a Charlotte snack factory as part of a plan to cut costs. The Kellogg plant will close by the end of 2014, a company official said in a statement, and about 195 jobs will be cut. Kellogg’s Charlotte plant is on Louise Avenue, just east of uptown. Workers there produce cookies including Famous Amos, Austin Sandwich Creme and Iced Animals. “As with any project that impacts people, these are difficult decisions,” CEO John Bryant said in a statement. “We are very mindful of the impact these changes will have –...
  • MORE GOOD NEWS!… CBO Director Says O-Care Will Reduce Workers’ Wages (Video)

    02/05/2014 3:04:04 PM PST · by 2ndDivisionVet · 13 replies
    Gateway Pundit ^ | February 5, 2014 | Jim Hoft
    What a wonderful law. Thank you, Democrats. Thank you, Barack Obama. Not only will Obamacare kill off over 2.3 million jobs but it will reduce wages, too! Congressional Budget Office (CBO) Director Douglas Elmendorf told a Congressional committee today that Obamacare will reduce workers wages. “We expect as other analysts believe that over time costs that employers bare for their employees end up being borne by the employee in the form of lower wages.” Terrific. (VIDEO-AT-LINK) It’s not as if Americans weren’t already suffering. Since Obama entered the White House US households have lost $4,019 in real income, a little...
  • White House: It's A Good Thing That Obamacare Will Drive 2.5 Million Americans Out Of The Workforce

    02/05/2014 12:20:08 PM PST · by Responsibility2nd · 48 replies
    Yahoo/Forbes ^ | 05/05/2014 | Avik Roy,
    Yesterday, Washington’s official non-partisan bean-counter, the Congressional Budget Office, dropped a bomb. By 2024, says the CBO, Obamacare will reduce the size of the U.S. labor force by 2.5 million full-time-equivalent workers. That’s roughly triple what the CBO had estimated three years ago. Such a sizeable decline in the labor force will have substantial detrimental effects on the U.S. economic and fiscal picture. But the CBO wasn’t responsible for the most amazing thing that happened yesterday. That title belongs to the Obama White House, where Press Secretary Jay Carney claimed that 2.5 million Americans leaving the workforce was a good...
  • Democrats new argument on Obamacare jobs decline: It reduces ‘job lock’

    02/05/2014 12:16:41 PM PST · by SeekAndFind · 33 replies
    Washington Post ^ | 02/05/2014 | Aaron Blake
    Democrats are increasingly employing a new tack in the battle over a projected reduction of two million jobs due to Obamacare, saying the decline is actually the result of people not being required to work anymore when they don't want to -- a concept labeled "job lock.""Yesterday, the CBO projected that by 2021 the Affordable Care Act will enable more than 2 million workers to escape 'job-lock' – the situation where workers remain tied to employers for access to health insurance benefits," House Minority Leader Nancy Pelosi's (D-Calif.) office said in a news release.The release continued: "In addition to being...
  • Why the new CBO report on Obamacare is good news

    02/05/2014 6:04:56 AM PST · by Sir Napsalot · 44 replies
    LA Times ^ | 2-4-2014 | Michael Hiltzik
    The Congressional Budget Office is out with its latest report on the Affordable Care Act, and here are a few bottom lines: — The ACA is cheaper than it expected. — It will "markedly increase" the number of Americans with health insurance. — The risk-adjustment provisions, which Congressional Republicans want to overturn as a "bailout" of the insurance industry, will actually turn a profit to the U.S. Treasury. Given all this, why are the first news headlines on the CBO report depicting it as calling Obamacare a job killer? (snip) ..... it's important to examine what the CBO actually says...
  • 'Mad Man' Sam Stein's Hilarious Response To Calamitous CBO/Obamacare Report

    02/05/2014 5:24:17 AM PST · by governsleastgovernsbest · 9 replies
    NewsBusters ^ | Mark Finkelstein
    Give Sam Stein credit for being an honest liberal. Confronted with the CBO's findings about the disastrous job-killing effects of Obamacare, Stein didn't try to spin the unspinnable. On today's Morning Joe, Donnie Deutsch invited Stein to play a game of Mad Men. Deutsch first sketched out a 30-second ad making the case against Obamacare--that contrary to what President Obama had said, you can't choose your provider and the program costs the country two million jobs. Deutsch then invited Stein to give the 30-second ad in response. Said Stein, much to the amusement of the panel: "The 30-second response is...
  • Thanks Obama! Care- Now with 25% Fewer Jobs!

    02/05/2014 5:23:35 AM PST · by Kaslin · 10 replies ^ | February 5, 2014 | John Ransom
    The Congressional Budget Office just confessed that the healthcare law passed by Democrats and only Democrats in 2010—you know the one that was supposed to save us so much money?-- is really a dud, a job killer, as we have said all along. And the consequences aren’t just that some guy you don’t know won’t have a job, the consequences are that guys you DO know won’t have jobs, and --in the best case—your tax bill will go up accordingly. The reform package, derisively known as Obamacare, is going to cost the country an additional 2 million jobs by 2017...
  • Wall Street to fall after jobs data; services eyed (jobs worse than expected)

    02/05/2014 6:04:57 AM PST · by Red in Blue PA · 15 replies
    * The U.S. private sector created 175,000 jobs in January, slightly below the expectation of 180,000, while the data for December was revised lower to 227,000 from 238,000. December's data widely overshot a broader report from the Labor Department which showed just 74,000 jobs were created in December. The market-moving government report is due Friday.
  • Freeing Workers From the Insurance Trap [NY Times: 2.5M Fewer Full Time Workers is a Good Thing]

    02/05/2014 5:39:11 AM PST · by SeekAndFind · 47 replies
    New York Slimes ^ | 02/05/2014 | The Editorial Board
    The Congressional Budget Office estimated on Tuesday that the Affordable Care Act will reduce the number of full-time workers by 2.5 million over the next decade. That is mostly a good thing, a liberating result of the law. Of course, Republicans immediately tried to brand the findings as “devastating” and stark evidence of President Obama’s health care reform as a failure and a job killer. It is no such thing. The report estimated that — thanks to an increase in insurance coverage under the act and the availability of subsidies to help pay the premiums — many workers who felt...
  • Congressional Budget Office sends death blow to ObamaCare

    02/05/2014 5:23:24 AM PST · by 2ndDivisionVet · 25 replies
    The New York Post ^ | February 5, 2014 | John Podhoretz
    The Affordable Care Act, a k a ObamaCare, became law almost four years ago. It became operational last Oct. 1. Yesterday, Feb. 4, 2014, the ACA may well have been dealt its death blow. The Congressional Budget Office released a major study of the government’s budget and its effect on the overall economy over the next 10 years. In dull bureaucratic language, it delivers a devastating analysis of the inefficiencies, ineffectualities and problematic social costs of ObamaCare. The one-two punch: Virtually as many Americans will lack health coverage in 10 years as before the law was passed — but 2 million fewer...
  • WH: When you think about it, 2.5 million fewer people working because of ObamaCare is good news

    02/04/2014 9:27:55 PM PST · by 2ndDivisionVet · 28 replies
    Hot Air ^ | February 4, 2014 | Allahpundit
    I’m done, guys. If we’ve reached the stage of welfare-state decadence where it’s a selling point for a new entitlement that it discourages able-bodied people from working, there’s no reason to keep going. We’ve lost, decisively. As a great man once said, remember me as I am — filled with murderous rage. In a statement and conference call featuring top administration officials, the White House tried to beat back an emerging narrative that the CBO report supported claims made by health care reform critics. The CBO report says the Affordable Care Act could lead to a reduction of 2 million...
  • Obamacare remakes the economy -- and it's not all that bad

    02/04/2014 6:51:03 PM PST · by Innovative · 24 replies
    Yahoo Finance ^ | FEb 4, 2014 | Rick Newman
    ...CBO says Obamacare, as the law is known, could cut the size of the U.S. workforce by 2 million people within 3 years... That’s roughly double the CBO’s prior estimate... Those 2 million jobs don’t represent people who will be fired or denied work because of Obamacare. They represent people who hold a job primarily for the healthcare benefits provided by their employer, and might choose not to work it they could get coverage some other way. “The ACA will reduce the total number of hours worked,” the CBO explained in its report, “almost entirely because workers will choose to...
  • Reid: Obamacare Doesn’t Cost Jobs, It Turns Workers Into ‘Free Agents’

    02/04/2014 2:20:15 PM PST · by Sir Napsalot · 40 replies
    PJ Tatler ^ | 2-4-2014 | Bridget Johnson
    Senate Majority Leader Harry Reid (D-Nev.) said the Congressional Budget Office report that shows Obamacare will make the labor force lose 2.3 million full-time workers by 2021 is positive because it lets Americans be “free agents.” “We have the CBO report, which rightfully says, that people shouldn’t have job lock. If they — we live in a country where there should be free agency. People can do what they want,” Reid told reporters outside of a close policy luncheon. “And what they’re saying here is — and the fact checkers have already done this — the Republicans talk about losing...
  • Health-Care Law Expected to Take Greater Toll on Workforce

    02/04/2014 2:20:43 PM PST · by gooblah · 10 replies
    Yahoo/WSJ ^ | Damian Palleta
    WASHINGTON—The Affordable Care Act is projected to reduce the number of full-time workers by roughly 2.3 million people through 2021 and insure 2 million fewer people this year than previously estimated, the Congressional Budget Office said Tuesday.
  • White House: When you think about it, 2.5M fewer people working because of ObamaCare is good news

    02/04/2014 1:37:39 PM PST · by SeekAndFind · 39 replies
    Hotair ^ | 02/04/2014 | AllahPundit
    I’m done, guys. If we’ve reached the stage of welfare-state decadence where it’s a selling point for a new entitlement that it discourages able-bodied people from working, there’s no reason to keep going. We’ve lost, decisively.As a great man once said, remember me as I am — filled with murderous rage. In a statement and conference call featuring top administration officials, the White House tried to beat back an emerging narrative that the CBO report supported claims made by health care reform critics. The CBO report says the Affordable Care Act could lead to a reduction of 2 million full-time...
  • Pope: 'unjust' unemployment can mean sin, suicide

    02/04/2014 1:29:58 PM PST · by Responsibility2nd · 83 replies
    Assoc. Press ^ | 02/04/2014 | NICOLE WINFIELD
    VATICAN CITY (AP) -- Pope Francis extolled the benefits of sharing wealth with the poor on Tuesday, warning that "unjust" social conditions like unemployment can lead to sin, financial ruin and even suicide. The Jesuit pope has frequently railed about the excesses of capitalism and income disparity in a globalized world, and his message for Lent issued Tuesday echoed those same concerns ~snip~ "When power, luxury and money become idols, they take priority over the need for a fair distribution of wealth," he said in the short message. "Our consciences thus need to be converted to justice, equality, simplicity and...
  • The White House (And Its Faithful) Scramble To Refute CBO Report On Obamacare Job Losses

    02/04/2014 12:18:15 PM PST · by Rusty0604 · 8 replies
    Zerohedge ^ | 02/04/2014 | Tyler Durden
    Earlier we reported how, in the CBO's own words, Obamacare would result in (at least) 2.5 million (soon to be revised much higher) workers departing the labor force over the next decade, that would stay there were it not for the skewed incentives provided by this latest welfare Ponzi scheme. Sure enough, it took the White House mere moments to share its canned retort seeking to control the major fallout this report generated as it goes, once again, against all of Obama's promises. From Reuters: "The White House on Tuesday refuted arguments that Obamacare reforms will hurt jobs, and said...