Tag Archives: jobs

Some Labor Day Questions

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The Wall Street Journal asked some questions on Labor Day 2012, and supplied some answers.  Here are some of those questions and answers, which remain as valid this Labor Day.

  • Q: How are America’s workers doing? Not good. Over the past decade, over the ups and downs of the economy, taking inflation into account, the compensation of the typical worker — wages and benefits—basically haven’t risen at all. … The Labor Department recently said that 6.1 million workers in 2009-2011 have lost jobs that they’d had for at least three years. Of those, 45% hadn’t found work as of January 2012. … Federal Reserve Chairman Ben Bernanke said Friday that unemployment is still two percentage points higher than normal….
  • Q: Things ARE getting better, though. The U.S. economy is creating jobs, right?  Back in December 2007 when the recession began, there were about two jobless workers for every job opening.  When the economy touched bottom in mid-2009, there were more than six unemployed for every job.  At last count, the BLS says there were 3.4 jobless for every opening.
  • Q: How much of this elevated unemployment is because the unemployed just don’t have the skills that employers are looking for right now?  Some.  …the bulk of the evidence is a lot of the unemployment really is the old-fashioned kind: the kind that would go away if the economy was growing at a stronger pace. Mr. Bernanke said as much at the [2012] Jackson Hole conference….

The Democratic President has taken a bad situation and done little to improve it.  He has, though, actively attacked businesses—the hirers—demonizing them, (over)regulating them, demanding to raise taxes on them.

Happy Labor Day.

Economic Disinformation

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President Barack Obama actually said this out loud to The New York Times:

T]hat [Keystone XL pipeline] oil is going to be piped down to the Gulf to be sold on the world oil markets, so it does not bring down gas prices here in the United States.

Because increased supplies don’t actually decrease prices.  Sure.

Actually, that distorting claim is of a piece with Obama’s steady drumbeat of distortions concerning the effects of his economic policy.

Here are the latest employment statistics, which Obama insists demonstrate that effectiveness and why he should be able to spend and tax even more.

Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4%….

That’s against ADP’s mid-week claim of 200,000 new jobs.  And what’s behind that apparent improvement to “only” 7.4% unemployment?

…long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.2 million.  These individuals accounted for 37.0% of the unemployed.
…
The number of persons employed part time…was essentially unchanged at 8.2 million in July.

Additionally, the labor force participation rate (the per cent of our adult population actually trying to find work) dropped last month to 63.4%, approaching a 30-year low, as some 240,000 Americans gave up trying to find work in this stagnated-at-lousy economy.  That drop underlies the seeming drop in the headline unemployment rate.

That’s not all.  We see from The Wall Street Journal that actual economic expansion—the GDP growth rate—while still positive, is falling and has done so for some time.

Because Obama’s Keynesian politics have been so effective, and his claims about the wisdom of them have been so accurate.  Never mind that downward trend over the last 7 quarters.

The Dallas branch of the Fed has some interesting charts, also.  This one compares current unemployment duration with the length of unemployment in past recessions.  Careful readers will recognize the recession of ’74-’75 at the end of Jimmy Carter’s term, and the ’81-’82 recession at the start of Ronald Reagan’s terms.

This next graph shows…graphically…the effectiveness of Obama’s economic policy.  No matter who’s estimating, we just don’t catch up.

Last one.  This graph shows how the Obama Recovery compares with our history of economic recoveries.

But Obama says everything is Jake, and those Evil Republicans should get out of his way, so he can do even more of this.

Car Pooling

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…but only the union way.

In the past month, San Francisco International Airport officials have been citing and arresting drivers from mobile-app enabled rideshare companies that pick up and drop off passengers, an airport spokesman said.  Airport spokesman Doug Yakel said there have been seven citizen arrests issued to “various offenders” since July 10.  The airport had issued cease and desist letters to several rideshare companies, including Lyft, Sidecarv and Uber, in April.

Notice that these are not “professional” drivers—not union cabbies—that are being harassed.  CBS San Francisco points out that the harasses are “drivers participating in a mobile app arrangement typified by Sidecar.”

Naturally, a union—a taxi union in this case—objects to rideshare at “their” airport.  The competition might save the customers money (good for them, bad for the protected class), and it might save gas (good for the environment, bad for—well, not much of anyone).

But there’s a solution afoot:

The state Public Utilities Commission, which regulates and licenses passenger carriers, has been looking into how to regulate these new types of companies.

Of course.  Because we Americans are just too stupid to be trusted to do anything on our own, without a Know Better Government’s regulation to tell us what to do, how to do it, and when we should do it.

Spinning

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From the National Republican Congressional Committee, and on the heels of President Barack Obama’s latest Presidential Bull on the economy, comes this compilation of the…pivots…that  Obama has made during his administration.

  • “Obama Aims to Shift Focus To Boosting Jobs, Economy” (Wall Street Journal, 7/18/13)
  • “Obama Pivots to Jobs Tour at End of Scandal Filled Week” (ABC News, 5/18/13)
  • “Obama’s Texas Trip An Attempt To Refocus On Jobs, Economy” (Washington Times, 5/8/13)
  • “Obama: State Of The Union To Focus On Jobs” (USA Today, 2/8/13)
  • “Obama Turns To Congress For Jobs Help” (The New York Times, 6/1/12)
  • “Obama Turns Attention To Economy After Fundraising Pitch” (Associated Press, 5/11/12)
  • “Fresh Off Debt-Ceiling Brawl, Dems Pivot To Talk About Jobs” (The Hill, 8/3/11)
  • “Obama To Focus On Jobs” (San Jose Mercury News, 1/23/11)
  • “Obama To Focus On Jobs, Spending In State Of The Union Speech” (The Tennessean, 1/27/10)
  • “Hill Democrats Set To Pivot To Job Creation” (Washington Times, 1/25/10)
  • “Obama Pivots To Jobs As Key Theme” (Politico, 1/8/10)
  • “Obama Turns Focus To Job Creation” (Associated Press, 12/5/09)

Sort of gives new meaning to the phrase “political spin.”

More on our “Recovery”

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A study done by the National Employment Law Project has some troubling results on wages.

  • Americans’ after-inflation wages have dropped by almost 3% since President Barack Obama’s inauguration
  • people who earn between $10.61 and $14.21—in the minimum wage range—have seen their incomes drop by more than 4%
  • restaurant cooks, food preparation workers, home health aides, personal care aides, and maids and housekeepers lost 5%

Hmm….