Posted on 10/26/2014 5:03:52 AM PDT by Kaslin
NRMLUNIT wrote: JR, running out of things to complain about. 55 months of jobs added, unemployment below 6%. Just keeps getting worse, day after day, after day, for JR. – Who Needs Work When We Have Obama?
Dear Comrade Unit,
Not really. It’s getting mildly better for some in this economy, but the vast majority has been left behind. Even usually reliable Obama apologists have admitted this.
“In remarks prepared for delivery to a conference on workforce development, [Atlanta Fed President] Dennis Lockhart said there was likely to be some reduction in the use of part-time workers as the economy strengthens further, but probably not to levels seen before the recession,” according to Reuters.
"In other words, preference for part-time workers is likely to persist," he said.
"For Fed policy purposes, the balance of evidence suggests the labor market is still far from normal, even if normal is not what it used to be."
To translate for the liberally-impaired: “Things are not even as good as the lowered expectations we have come share for this administration would allow.”
This “part-time workforce” phenomenon is wholly attributable to Obamacare, and its provision that defines full-time employment as 29 hours per week.
But even getting past the huge number of part-time workers, labor participation rates are at all time lows, meaning the labor force is smaller than it should be.
Anyone can bring the unemployment rate down by getting workers to get out of the workforce, as Obama has done. Under Bush, workforce participation went up and unemployment went to record lows twice.
“For the country as a whole,” writes the MacIver Institute, “2013's labor force participation rate of 62.7 percent was the lowest it has been since 1977, when Jimmy Carter was president. In the late 1990s and early 2000s, the labor force participation rate hovered just over 67 percent.... The recession had a dramatic impact on the participation rate starting in 2009 and the country's workforce has continued to decline since.”
If we look at how many discouraged workers and part time workers who want full time work, unemployment and under employment is around 23 percent. And it hasn’t moved much in four years although the composition has chnaged.
Why is it significant? Because it means that workers aren't producing stuff.
Essentially about 4-5 percent of the workforce is now on the sidelines that shouldn't be.
There are about 250 million people available to work. That means about 12 million workers are sidelined. Multiplied by an average wage of $45,000 that’s $540,000,000,000 missing from the economy just in wages. Since labor accounts for about 45 percent of GDP that means that the full effect of these missing workers is over a trillion dollars in GDP. Actually, $1.2 trillion to be exact.
Every year.
That’s like subtracting a state the size of New York from our economy. Every Year.
And you call that progress?
That is why the American people are so upset with progressives like you and Obama.
According to an average from Real Clear Politics, Obama continues to fall in the polls, with an expanding gap between lowered approval ratings and and higher disapproval ratings. Somewhere around 40 percent approve of the job Obama has done on the economy.
So, dear comrade, perhaps you should be a tad more realistic about the devastating consequences that Obama has had on the economy.
It’s almost impossible to over estimate how much responsibility he has for the poor state of our country. And people are paying attention. I mean people besides you.
Needfulthings wrote: "Who Needs Work When We Have Obama"? Not the right question cause some of us are working. Thee real question is "Who will have a job if the Republicans take over"
answer is ---------------------------- Buy a Hammock !!!! - Who Needs Work When We Have Obama?
Dear Comrade Thing,
That’s why unemployment was so low under George W. Bush, twice.
Bush inherited a recession from the Clinton administration yet weathered that and the 9/11 attacks to bring unemployment down to 4.4 percent, a figure so low that some economists did not believe it was possible previously.
It’s not like Bush had it easy either.
He inherited the dotcom bubble. From 2000 to 2002, according to the LA Times, tech companies lost $5 trillion in market capitalization, or about a third of our current GDP.
Plus Bush had to deal with the wholesale shutdown of not just a few days of government, but of the entire country, including our stock markets after 9/11.
Liberals whined and complained when the government got shutdown-- for more or less a handful of hours-- about how the economy was being hurt, yet forget entirely that when 9/11 happened Bush did the right things to bring the economy back online when much of the economy was shutdown for weeks. Merely 6 months later unemployment stabilized and a year after unemployment started going back down.
Homernods wrote: Stop being cute Ransom and write some facts that are not available, such as how much money is being borrowed, not printed, to cover the cost of socialism. I heard, barely, that it is two trillion per year range. Not too long ago, we were hearing our creditors were going to stop the loans. The point here is that no gravy train has an endless supply of fuel. Sooner or later, this welfare ' system ' must implode on itself. - Who Needs Work When We Have Obama?
Dear Comrade Homer,
Come on: I couldn’t stop being cute even if I wanted to.
Right, ladies?
NRMLUNIT wrote: Energy- We are at the lowest import level EVER
Healthcare- Obama is the only one to EVER do anything about it. 1 year later it's doing better and,getting better all the time.I wonder what will be said next year,nothing?
Banking- The ones who created the mess aren't quite so free to do the same thing again.
Success- Stock market and, everything else has improved, looks like that will continue in the near future. 55 months straight adding jobs and more to come. This is so easy. - You Can't Teach Liberals Anything
Hillary! is sitting at a table labeled UNLV.
Can I presume that is at the University of Low [info] Voters?
That stupid liberal. Uneducable.
Evil has a new name
Hillary + White House = Danger Wil Robinson... Danger! Danger! Danger!
Looks like it to me
Big danger
UNLV United Nations Life Vacuum...get sucked in.
Her statment that ‘Don’t let anyone tell you that businesses create jobs!’ is right up there with “At this point what difference does it make?”
Is Hillary drunk in that picture?
Conservativeyou mean desires to keep things [like corruption] the way they are…
Agreed...
Well, the missing jobs are much more likely to average $28,000 (half the people in the country make less) than $45,000. I have a hard time believing that all of the missing jobs are higher wage jobs, or that those who are out of the workforce are worth that much.
UNLV, is that where they paid her $250,000 for a speech?
UNLV, is that where they paid her $250,000 for a speech?
hillary is always drunk, and huma is never very far.
It’s all relative. She does seem conservative when compared to the Kenyan Katastrophe.
Huma, isn’t that Anthony Weiners wife? Muslim? Surprised her family hasn’t taken his perverted arse out of here, as an honor killing for embarrassing her??
“The national average wage index for 2013 is 44,888.16.”
http://www.ssa.gov/oact/cola/AWI.html
It is quite possible that the wages of those out of work (laid off) average higher than those employed. Companies want to cut costs and getting rid of higher paid employees does that faster than letting the janitor go.
I guess he's right -- "Bill's Wife is an Obama, Not a Clinton" -- in the sense that when President Hillary hits a snag, as both Bill Clinton and Obama did, she'd be more likely to follow Obama and persevere in her folly, rather than to back off and triangulate as her husband did, but within the Democratic Party the Clintons have always been assumed to be more moderate than Obama. It's a tough question to resolve because HRC and BHO would have to appeal to the same contributors, fundraisers, and voting blocs.
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