9 Mind-Blowing Facts About Obama’s Unemployment Crisis

Aside from his lies about Obamacare and global warming, Barack Obama’s biggest lies are about the “growing” recovery of employment in America. All of what he says is a lie.

Here are the facts to counter Democrat lies.

There are 102 million Americans of working age who don’t have a job. This number represents 58.3% of working age Americans, the highest percentage since 2000.  This means that for fifty straight months, there has been sub 59% participation in the job market.

Last month alone, America lost 623,000 full-time jobs. How does that stack up with what the Obama administration tells us?

In the same month, 357,000 women lost their job. More lies.

The average duration of unemployment is almost three times as long today as it was in October 2000.

In October of 2013 alone, the number of Americans falling out of the labor force hit 932,000. Think of that: almost a million people’s lives and futures disappeared in a single month.

The 62.8% of people who fell out of the work force in October puts us at the highest level since Jimmy Carter’s numbers in 1978. How can we accept this lie? How can the media keep ignoring this point?

An honest evaluation of the unemployment statistics would put the number of jobless Americans near 11 percent.

Almost 25% of American workers can only find part time work, which keeps them below the poverty level.

In 2000, there were 75 million Americans who could be working but weren’t. Today, there are 102 million. That’s roughly 1/3 of America. We are being lied to by the media and Barack Obama.

Remember these numbers the next time you hear Obama tell you he will not rest until anybody who’s looking for a job can find one.

Via: Western Journalism

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CA’s Job Picture: The Good, the Bad, and the Ugly

California has added 826,500 non-farm jobs since the low of February 2010, but is still short 541,400 non-farm jobs from California’s July 2007 high. However, there are also 692,511 more workers than in July 2007, meaning there is a gap of 1.2 million jobs (8.2%). This also doesn’t include those individuals who have left the workforce because they believed looking for a job was futile.

Construction currently accounts for 616,500 jobs, 35% off the high of 945,100 set in February 2006, up only 13% from the low 544,700 in September 2010.

The bright spot is in business and professional services, which at 2,310,500 jobs in August 2013, is at an all-time high, now accounts for 16% of California’s non-farm jobs, and is the second largest non-government supersector just behind Trade, Transportation, and Utilities. Compare the ten-year table on that sector to that of Manufacturing, which has been on a decline for two decades.

California’s unemployment rate was 8.9% in August, a significant reduction from the 12.4% that haunted most of 2010, although some reduction in the rate (as pointed out above) is due to to disaffected workers leaving the workforce. Even at 8.9%, that is significantly higher than the roughly “full employment” rate of 5% the state saw through most of 2006 into early 2007.

Despite many of these gloomy numbers, there’s a fascinating thing: California’s personal income was at an all-time high of $1.768 trillion in 2012, and will likely set another record this year. That’s 15.1% higher than the recession’s low in 2009 and 10.7% above the pre-recession high of $1.596 trillion in 2008. Even on an inflation-adjusted basis, personal income is higher than the all-time high before the recession.

However, the swelling personal income does not appear to be buoying retail. While the Business and Professional Services sector has seen a jobs increase of 2.5%, Trade, Transportation and Utilities–which includes retail–has only increased 1.3%. One bright spot is new car sales, which at 146,498 in June are double the 2009 lows and at levels not seen since 2007, as financing has eased and consumers return to a more regular car replacement schedule (yes, I am still driving a 2005 Prius).

Via: California Political Review

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RNC Statement on October Jobs Report

WASHINGTON – Republican National Committee (RNC) Chairman Reince Priebus released the following statement on the October jobs report:

“While more Americans found jobs this month, I continue to worry about the millions of Americans who can’t find a job despite looking for one month after month after month,” said Chairman Priebus.

“Right now the biggest roadblock to job creation is ObamaCare. Republicans sounded the alarm on ObamaCare for years, but Democrats ignored those warnings. That’s why American families are now feeling the impact of the law—slashed paychecks, reduced hours, lost jobs, fewer job prospects, struggling small businesses, a weak economy.

“Despite Democrats’ promises, millions of families are losing their insurance, losing access to their doctors, or being forced to pay more for insurance. Their household economies are taking a hit, and ObamaCare has made life more uncertain for them.

“Americans deserve better. In Washington and in state capitals across the country, Republicans will continue to fight for free market solutions that create jobs and give hope, while opposing the big government programs that crush economic opportunity.”

Via: GOP.gov

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'Real' Unemployment: 13.8%

(CNSNews.com) – The “real” unemployment rate rose from 13.6% in September to 13.8% in October, according to figures released today by the Bureau of Labor Statistics (BLS).

Though the national unemployment rate is 7.3%, the “real” unemployment rate is a broader measure of the number of people in the United States, 16 and older, currently looking for jobs.

Known as the U-6 unemployment rate, this “real” unemployment figure, seasonally adjusted, includes the unemployed “plus all persons marginally attached to the labor force, plus total employed part time for economic reasons ….”

The U-6 rate captures the fuller picture of people who are willing and able to work, but cannot find a job.

Since President Barack Obama has been president, the  U-6 unemployment rate rose from 14.25% in January 2009 to a high of 17.1% in October, November and December 2009 and the same rate in February, March, and April 2010.  The U-6 rate did not fall below 14% under Obama until March 2013, when it hit 13.8%, the same rate for October 2013.

Via: CNS News

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Almost ONE MILLION drop out of labor force, unemployment rises to 7.3%

Not a good month at all when you look at the big picture, according to Zero Hedge:

But more importantly, the number of people not in the labor force exploded by nearly 1 million, or 932,000 to be exact, in just the month of October, to a record 91.5 million Americans! This was the third highest monthly increase in people falling out of the labor force in US history.

That’s nearly 1/3rd of the entire American population. Talk about fundamental transformation:

WASHINGTON TIMES – The federal shutdown last month caused a small rise in the unemployment rate to 7.3 percent but it was a surprisingly good month to find jobs in the private sector, the Labor Department reported Friday morning.

Businesses created more than 204,000 jobs in areas from retail and manufacturing to offices, hotels and restaurants. The department also detected 60,000 more jobs that were created in September and August in revisions to its previous employment reports — a sign that the job market has been healthier than previously assumed.

The burst of job creation last month — nearly twice as much as what economists had expected — more than offset an estimated 12,000 in job losses in the federal government, which brought the total number of federal job eliminations due to budget cuts to 94,000 in the last year.

Don’t worry…nothing to see here. Everything is swell. It’s the Winter of Recovery!

Via: The Right Scoop

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Shutdown slowdown? Job creation soars in October

This is a breaking news story. Check back here for updates.

Forget the shutdown: Job creation surged in October despite dimmed expectations from the impasse in Washington.

There were a net 204,000 new jobs created for the month, though the unemployment rate rose to 7.3 percent and households reported a huge drop in employment. A separate measure that includes the underemployed and those who have quit looking also moved higher, from 13.6 percent to 13.8 percent.

The numbers easily topped economist expectations of 120,000 new nonfarm payroll jobs for the month, though it matched estimates for a slightly increase in the headline jobless rate.

"I find this bizarre," Moody's economist Mark Zandi told CNBC. "I wouldn't be surprised if this gets revised to some degree...down."

The data gave markets a jolt: Stock market futures that had indicated a higher opening turned lower, while interest rates spiked.

Leisure and hospitality led the way in job creation with 53,000 new positions, 29,000 of which came from bars and restaurants.

Though the jobs creation number jumped, there was a mixed bag of news. The civilian labor force tumbled by 720,000 and the labor force participation rate fell to its lowest since March 1978.

Via: CNBC

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Jobless claims drop as California's glitch dissipates

The number of Americans filing new claims for unemployment benefits declined largely as expected last week as the impact of a California computer glitch worked its way out of the report.

Initial claims for state unemployment benefits declined by 10,000 

to a seasonally adjusted 340,000, the Labor Department said on Thursday. Claims for the prior week were not revised. Economists polled by Reuters had expected first-timeapplications to fall to 339,000 last week.

A Labor Department analyst said California, which had been dealing with a backlog, reported no carryover in claims last week from previous weeks.

Technical problems as California converted to a new computer system have distorted the claims data since September, which had made it hard to get a clear read of labor market conditions.

A 16-day partial shutdown of the federal government had also pushed up claims in recent weeks as furloughed workers applied for benefits, but this appeared to be diminishing.

Via: CBNC

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Not so fast: The improving unemployment rate masks problems

WASHINGTON — The monthly unemployment rate holds almost mythical importance as a barometer for the health of the U.S. economy. But what if it’s not telling us what we thought?

Economists still view the monthly jobless rate – 7.2 percent in September – as an important guidepost, but many question whether it tells the whole story in today’s impaired labor market..

“I think it is exaggerating improvement,” said Scott Anderson, the chief economist for San Francisco-based Bank of the West. “It’s a muddy picture. No doubt about it.”

He’s not alone.

“Things kind of fell off a cliff in 2008, and then made very little improvement since then . . . except the unemployment numbers are telling this other story,” said Heidi Shierholz, a labor economist at the Economic Policy Institute, a left-leaning policy research organization.

The problem is that the Federal Reserve has held up the unemployment rate as a must-read, calling it the key sign of when the Fed will take its foot off the pedal of unconventional stimulus for the U.S. economy. Specifically, Chairman Ben Bernanke has said a 7 percent unemployment rate is a good marker for ending the support. In the latest report, for September, the jobless rate was just two hairs off that.

Yet while unemployment indicators seem to be improving, the data on employment itself is much more flat. Think of it as two lines, one sloping down on a decline and the other largely flat and straight. It’s why many are wary of the monthly unemployment rate.

Via: McClatchy

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Read more here: http://www.mcclatchydc.com/2013/10/24/206407/not-so-fast-the-improving-unemployment.html#storylink=cpy

Read more here: http://www.mcclatchydc.com/2013/10/24/206407/not-so-fast-the-improving-unemployment.html#storylink=cpy

ECONOMY ADDS A DISAPPOINTING 148,000 JOBS IN SEPTEMBER

The Labor Department reported the economy created 148,000 jobs in September after adding 193,000 the prior month--forecasters had expected a much better showing. Unemployment fell to 7.2 percent, largely because 91,000 more adults chose not to participate in the labor force.

In September, anticipation of the government shutdown may have somewhat influenced hiring, but those effects are difficult to discern. For example, while uncertainty caused firms to delay, it may have encouraged others to rely on multiple part-timers actually boosting the jobs count.

In October, some impact from furloughing government employees will be felt, but experience with past similar events indicates the overall drag on the economy and jobs growth will prove imperceptible by next spring. Simply, much of the lost government and consumer spending will be made up, especially since federal employees will receive back pay.

In 2013, nearly half of the employment growth has been in part-time positions. Since January, 456,000 more adults reported working part-time positions, while 525,000 indicated they had obtained full-time employment.

Obama Care's mandates for employer paid health insurance coverage encourage more part-time hiring. Also, driving this trend are the growing importance of services like retailing and hospitality, rigidity, and visceral anti-business campaigns of unions--such as those targeting McDonalds and Wal-Mart.

Via: Breitbart

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Tale of California’s Two Economies

California is an economy of regions—from the north to the south—from the inland to coastal communities—California’s regional economies are diverse.

When the recession hit in 2008, no region was exempt. Five years later, the state’s economy is improved, but not every region has bounced back in the same way. In fact, getting back to the “good old days” has been uneven.

Unemployment rates for coastal communities have dipped, many below the state’s unemployment rate of 8.9 percent. Jobs are being added and housing prices are soaring.

Yet, in many circumstances, the story is much different when you travel inland where unemployment remains in the double digits.

Fresno, in the San Joaquin Valley, is a prime example.

“The San Joaquin Valley is historically one of the most economically distressed regions in the nation.  On top of that, we experienced the double-whammy of the recession.  We were among the hardest hit by the recession and suffered significantly,” said Ashley Swearengin, Mayor and California Economic Summit Co-Chair.

“It will take us longer to come back than the coastal areas because we must overcome both the effects of the most recent recession, as well as our long-term, over-dependence on the housing industry. The San Joaquin Valley’s opportunity is to diversify its economy by building a skilled, innovative workforce that fuels business growth and generates higher income levels and lasting economic stability.”

Need more proof?  A recent study by The Stanford Center on Poverty and Inequality and the Public Policy Institute of California show, in 2011, 22 percent of Californians were living in poverty. The federal poverty rate, that same year, was 16 percent.

Latinos, the state’s largest ethnic group, is much higher at 32.2 percent. Los Angeles County had a poverty rate of 26.9 percent and Orange County was at 24.3 percent.

Both studies only emphasize California’s reality of two economies. Education levels, and cost of living, especially housing, are big factors in economic well-being.

Via: California Political Review

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