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Economy’s Good News is Finally Genuine, Part 2

The New York Analysis of Policy and Government concludes its examination of the U.S. employment recovery.

While the news that total nonfarm payroll has been increasing (it rose 228,000 in November) the fact that those increases occurred at least partially in manufacturing, a foundation of middle class jobs, is very encouraging. Since the recent low in November 2016, manufacturing employment has increased by 189,000. In November of last year, Manufacturing employment was reduced by 9,000, while government employment rose by 19,000. The latest report notes that unemployment rate fell to an all-time low of 2.6%, an extraordinary reversal.

The Gateway Pundit notes that “Job numbers released today through the end of November show an increase of 2.2 million jobs since last years election and an unemployment rate of 4.1 percent. After the same period under Obama, (4.8) million jobs were lost and unemployment skyrocketed to 9.9 percent! President Trump’s economic results could arguably be the best all time. The stock market is the highest ever and jobs are being created by the thousands.”

John Crudele, writing for the New York Post, notes that despite a left-oriented media’s harsh criticism, “Trump boost to the economy can’t be denied.”

During the Obama Administration, GDP never exceeded 3% annually, the first time at least in the past seventy years this occurred. According to the Bureau of Economic Analysis “Real gross domestic product  increased at an annual rate of 3.3 percent in the third quarter of    2017, according to the “second” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent.”

Some generic manufacturers also produce quality anti-impotency drug http://icks.org/n/data/ijks/2018FW-1.pdf levitra 20 mg under different names. The reason being levitra india more and more people are living longer & lingering in good health. Keep Your Hopes Up However, viagra uk cheap not all pharmacy websites are connected to scams or cyber criminals. Milk is a reservoir of nutrients and forms an important medicinal product which has achieved immense recognition in the backdrop of the side effects that viagra online are given away by this medicine. Writing for The Hill,  Peter Ferrara noted: “Historically, the worse the recession is, the stronger the recovery typically is. The economy grows faster than normal for a while to catch up to its long-term economic growth trendline, a pattern first noticed by Milton Friedman, the Nobel laureate economist. Based on that metric, the economy should have come out of the recession booming. But to this day, over eight years later, that still has not happened. Real economic growth during the Obama years was stunted below 2 percent. Today, the American economy is still more than $2 trillion below its long term economic growth trendline. The U.S. economy sustained a real rate of economic growth of 3.3 percent from 1945 to 1973 and 3.3 percent sustained real growth from 1982 to 2007… What we are seeing now under Trump are the stirrings of a real recovery from the 2007-2009 financial crisis, which never happened under Obama.”

Despite that, notes The Heritage Foundation “Still Donald Trump gets no respect. Even though nearly every poll for the past six years tell us that Americans care most about jobs and the economy (with terrorism occasionally taking over first place), the media naturally won’t cover the undeniable economic speed up since the election of Donald J. Trump… If the economy and jobs had done this well under President Obama he and the media would have been doing cartwheels down Pennsylvania Avenue. Even worse, when the media does cover the jobs and growth story, every reporter asks me: does Mr. Trump deserve credit for these numbers? Well if he doesn’t, who does? Liberals argue that this is a continuation of the Obama recovery, but there’s a big problem with that analysis: the economy was decelerating under Mr. Obama, not speeding up. In Mr. Obama’s last year in office, 2016, the economy was barely limping to keep ahead of another recession.”

The prospects for significant further growth are substantial if tax reform gets enacted.

The American Enterprise Institute emphasizes that “During the tax-cut-fueled economic expansion in the 1960s, real GDP growth averaged nearly 5%, with economic growth topping 10% in two quarters (1965: Q1 and 1966: Q1) and 8% in eight quarters. US payrolls increased by 32% during the 1960s, the highest growth in jobs of any decade during the postwar period. Government tax revenues grew by 65% from 1965 to 1970.”

Jed Graham, writing for Investors Business Daily  predicts that “The U.S. economy is about to get an injection of rocket fuel.”

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Economy’s Good News is Finally Genuine

The New York Analysis of Policy and Government examines  the U.S. employment recovery, in this two-part review.

The good news about the U.S. economy is, finally, genuine.

During the eight years of the Obama Administration, a supportive media attempted to portray the economy, particularly the job market, as recovering. It was a difficult task.

Obama supporters in the media and elsewhere headlined falling unemployment statistics, but the statistics were deeply misleading. They were attributable to a labor force participation rate which dropped to a decades-low figure (it has yet to recover) and the large number of those who could only find part time employment, to replace the full time jobs they had lost.  The number of discouraged workers, who had exhausted unemployment benefits, rose.

An analysis by Bloomberg outlined the dilemma: the minimal amount of jobs that were being created were in traditionally lower-paying fields, furthering a transfer of employment from middle income to lower income. Payrolls at factories, in particular, were hard-hit. The replacement of middle class jobs with lower paying ones was a key challenge.  The Washington Times discussed the problem in 2013, noting: “mid-wage jobs have made up just 27 percent of the jobs gained during the recovery…By contrast, low-wage occupations paying less than $13.83 per hour have utterly dominated the recovery, with 58 percent of the job gains since 2010.” A significant part of the blame could be directly attributed to factors such as:

  •  Obamacare, which created a financial incentive to eliminate full time positions;
  • Environmental regulations, which impacted manufacturing and mining;
  • Excess federal regulations and high taxes, which drove employers out of the nation.
  • General uncertainty about the direction of a national economy led by a White House that clearly disdained traditional capitalist practices.

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A 2015 Analysis by Investors.com   described the problem: “After six-plus years of President Obama’s big-spending, tax-raising policies, middle-class families have seen their incomes decline and more families have fallen into poverty, Census data show… Median family income dropped slightly to $53,657, down from the year before. Every income group suffered losses, with the lowest fifth of households dropping close to 1%. The overall poverty number barely budged. But it climbed by almost 600,000 among blacks in 2014, more than half of whom were under age 18. From 2009 to 2014, real median household income dropped by more than $1,000 — or 2.3% — to $53,657. (And that decline would likely have been steeper if not for a 2013 change in the way the Census does its annual survey.)

The replacement of middle class jobs with lower paying ones had been noted during Obama’s tenure.  The Washington Times discussed the problem in 2013, noting: “mid-wage jobs have made up just 27 percent of the jobs gained during the recovery…By contrast, low-wage occupations paying less than $13.83 per hour have utterly dominated the recovery, with 58 percent of the job gains since 2010.

During the prior presidency, a CNS  report emphasized that “for ordinary people, what probably matters most is household income. And if you look at the median household income numbers for the United States, Obamanomics is a failure. According to the Census Bureau’s latest numbers, the average family today has less income (after adjusting for inflation) than when Obama took office.

The American Enterprise Institute studied the problem in its report, “The Obama Economy and the Shrinking Middle Class.”  It noted how the poverty rate has increased: “the number of Americans living in poverty has increased by nearly 7 million during the Obama presidency, and the poverty rate went from 13.2 in 2009 percent to 14.8 percent last year. Further, the number of blacks living in poverty increased by nearly 1.4 million during Obama’s time in office, and the black poverty rate was higher in 2011 at 27.6% than any time since the mid-1990s before falling slightly to 26.2% in 2014. More data: the number of Americans on disability reached a record high during Obama’s second term, with an increase of 1.5 million disabled since Obama took office. There’s also be an increase in income inequality during Obama’s time in office, so there doesn’t seem to be a lot of empirical evidence to suggest that America’s middle and working class have seen an improvement in their economic well-being during Obama’s leadership.”

Currently, The Bureau of Labor Statistics report reveals substantive progress in several areas, and substantial progress in others. It notes that the number of those forced to work only part time has fallen by 858,000 over the past year. It also found that there was a drop of 451,000 in those only marginally attached to the labor force. The number of “discouraged workers” has fallen by 122,000.

The Report Concludes Tomorrow

 

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Economic Statistics Indicate U.S. Financial Crisis

There should be little doubt that the U.S. economy is in significant trouble. Indeed, objective criteria, as well as spokespersons from both sides of the political spectrum, indicate an economy approaching crisis levels. A survey of views illustrates the challenge:

The latest report from the Bureau of Labor Statistics  reveals that “Real hourly compensation decreased 0.4 percent…”

The Bloomberg news service reports that “One in seven U.S. households has a negative net worth, as student loans and credit cards plunge a diverse group of people—including those with good jobs—into the red…Almost 15 percent of Americans, or 47 million people, live below the poverty line, according to the U.S. Census Bureau. Then there are the people loaded up with debt. Even people with good jobs can owe so much on credit cards, student loans, or mortgages that, on paper, they’re worth less than zero. About 14 percent of U.S. households fall into this category, with a negative net worth, according to an analysis this month by the New York Federal Reserve. Add up all their possessions—cash, property, retirement accounts—and subtract all their debts, and one in seven Americans ends up in the red. Overall, U.S. households have $12.3 trillion in debt, according to another New York Fedreport, released this week.”

Liberal-oriented truth-out.org  notes that: “…the evidence shows that living-wage, family-sustaining positions are quickly being replaced by lower-wage and less secure forms of employment. These plentiful low-level jobs have padded the unemployment figures, leaving much of America believing in an overhyped recovery… New research is beginning to confirm the permanent nature of middle-income job loss. Based on analysis that one reviewer calls ‘some of the most important work done by economists in the last twenty years,’ a National Bureau of Economic Research study found that national employment levels have fallen in U.S. industries that are vulnerable to import competition, without offsetting job gains in other industries. Even the Wall Street Journal admits that ‘many middle-wage occupations, those with average earnings between $32,000 and $53,000, have collapsed.”

The financial source Profitconfidential  notes that Washington is “hiding” inflationary statistics.

“According to government statistics, inflation was held to just 0.6% during the first seven months of 2015. Unfortunately, that data disregards the most basic items that everyone uses, including food and energy costs… (Alternative non-government measures of inflation tell a completely different story. The Chapwood Index is an alternative inflation indicator that looks at the unadjusted costs and price fluctuation of the top 500 items that Americans spend their money on in the 50 largest cities in the country. (Source: chapwoodindex.com, last accessed September 22, 2015.) The index looks at the fluctuations in the cost of items such as Advil, Starbucks coffee, insurance, gasoline, tolls, fast food restaurants, toothpaste, oil changes, car washes, cable TV and Internet service, cellphone service, dry cleaning, movie tickets, cosmetics, gym memberships, home repairs, piano lessons, laundry detergent, light bulbs, school supplies, parking meters, pet food, and People magazine.For example, in 2014, the [official consumer price index] CPI rose 0.8%. But according to the Chapwood Index, major cities like New York, Los Angeles, Chicago, San Diego, and Boston saw inflation for the trailing 12 months (through to June of this year) run over 10%.”

Ignoring real inflationary numbers has a dire effect on senior citizens, who have suffered through more years without a cost of living increase in their social security checks than at any other time in living memory.
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Republicans have been sharply critical of the President’s economic policies. GOP candidate Donald Trump uses the worrisome economic statistics as a bludgeon against opponent Hillary Clinton, who has pledged to continue the Obama legacy. His web site states:

“… let’s look at what the Obama-Clinton policies have done nationally.Their policies produced 1.2% growth, the weakest so-called recovery since the Great Depression, and a doubling of the national debt.

“There are now 94.3 million Americans outside the labor force. It was 80.5 million when President Obama took office, an increase of nearly 14 million people. Home ownership is at its lowest rate in 51 years…

“Nearly 12 million have been added to the food stamp rolls since President Obama took office. Another nearly 7 million Americans were added to the ranks of those in poverty.

“We have the lowest labor force participation rates in four decades. 58 percent of African-American youth are either outside the labor force or not employed. 1 in 5 American households do not have a single member in the labor force…Meanwhile, American households are earning more than $4,000 less today than they were sixteen years ago.”

While substantial disagreement exists about the remedies that should be applied to America’s broken economy, the reality that a crisis exists is one which has fairly widespread support.

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U.S. Employment Downturn continues

The economic news continues to deteriorate, as the latest Bureau of Labor Statistics (BLS)  report reveals that job creation is at a bare minimum level. But the overall lack of job creation is only part of the problem. Some of the most important jobs for the U.S. middle class are actually shrinking in number, the labor participation rate continues to decline to dangerously low levels, and the number of those who could only find part time work has grown larger.

According to the BLS release, “nonfarm payroll employment changed little (+38,000.) Employment increased in health care. Mining continued to lose jobs…In May, the civilian labor force participation rate decreased by 0.2 percentage point to 62.6 percent.  The rate has declined by 0.4 percentage point over the past 2 months…The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers) increased by 468,000 to 6.4 million in May, after showing little movement since November. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. In May, 1.7 million persons were marginally attached to the labor force, little changed from a year earlier….These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 538,000 discouraged workers in May, essentially unchanged from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.2 million persons marginally attached to the labor force in May had not searched for work for reasons such as school attendance or family responsibilities.”

The raw numbers are discouraging, but an examination of the types of jobs lost and the few gained provides even more cause for concern.

The types of jobs that could provide a boost to the general economy both providing good pay and by reducing the continuous and massive trade deficit have continued to decline in number.

In May, mining employment continued to decline, losing 10,000 positions. The BLS notes that “Since reaching a peak in September 2014, mining has lost 207,000 jobs. Support activities for mining accounted for three-fourths of the jobs lost during this period, including 6,000 in May.”

Similar problems can be seen in manufacturing. Employment in durable goods declined by 18,000 in May, with job losses of 7,000 in machinery and 3,000 in furniture and related products.
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Masking the downturn in employment are some gains in health care, which added 46,000 jobs in May, with increases occurring in ambulatory health care services (24,000), hospitals (17,000), and nursing care facilities (5,000). Over the year, health care employment has increased by 487,000.

The BLS also downgraded previously reported employment numbers. The increase in total nonfarm payroll employment for March was reduced from 208,000 To 186,000, and the change for April was reduced from 160,000 to +23,000. With these revisions, employment gains in March and April combined were 59,000 less than previously reported.

A record 94,708,000 prospective workers are not currently in the workforce (a labor participation rate drop to 62.6%.)  Overall, this is the worst jobs report since September of 2010. The jobs creation number over the past three months is only 347,000, the worst stretch since 2012, and many of those are not the most desirable positions.

The prospects for future gains remain bleak. An excessively high regulatory regime, combined with anti-job policies such as the President’s Clean Power Plan and America’s uncompetitive corporate tax rate point to a continuation and perhaps a worsening of the current doldrums.

The poor numbers cannot be attributed to the 2007 recession; they indicate an economy that is entering a wholly new and separate downturn, a result of failed economic policies.

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New job numbers indicate poor recovery from recession

Yesterday’s job numbers from the Bureau of Labor Statistics demonstrate that America has yet to truly emerge from the Great Recession.

Despite White House claims, the nation still has not recovered from that greatest economic challenge since the Great Depression of the 1930’s. Government policy, which has hamstrung the free market, is largely to blame.

The White House continues to allege that much progress has been made, but a clear examination of key financial factors demonstrates otherwise.

EMPLOYMENT

The latest employment statistics from the Bureau of Labor Statistics (BLS)  indicates that less than half the monthly number of jobs that should have been created to truly lessen the recession’s impact was in fact created.  In addition, many of those jobs replacing those lost provided far lesser pay, and many went to immigrants as opposed to U.S. citizens who balked at the low pay levels. The percentage of people in the work force continues at near 40 year lows, and the number of long-term unemployed workers is at near historic highs.

The BLS released these notes yesterday: “Both the unemployment rate …and the number of unemployed persons … were essentially unchanged in October. Among the major worker groups, the unemployment rates…showed little or no change in October. The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged …These individuals accounted for 26.8 percent of the unemployed in October…The civilian labor force participation rate was unchanged at 62.4… The employment-population ratio, at 59.3 percent, changed little in October and has shown little movement over the past year…Among the marginally attached, there were 665,000 discouraged workers in October, little changed from a year earlier.”

Ian Murray of the Competitive Enterprise Institute (CEI)  provides a worrisome analysis of the BLS report:

“… the American economy remains on life support. The unemployment rate, number of long term unemployed, and labor force participation rate are all essentially unchanged. The recovery from the great recession has been anemic… The size of the hole we are in can be seen by comparing where we are now in terms of jobs from where we would have been had the post-recession recovery followed the trajectory of past recoveries. We are now 6 million jobs behind where we should be, according to Congress’ Joint Economic Committee. The economy would need to add 516,000 jobs a month to match the pace of the average recovery at this stage. So what is different this time?

“One answer that has gotten too little attention is that the rate of regulation over the economy has increased over the past decade, including since the great recession began. Regulation has its costs—CEI’s Wayne Crews estimates the total annual burden of regulation on the economy at about $1.9 trillion. That number could support a lot of jobs….Meanwhile… the Department of Labor and National Labor Relations Board are pursuing a policy of further restrictions on employment conditions…When the nation went into recession in the early 1980s, high taxes were the largest supply-side problem to creation of new jobs. President Reagan worked with Congress to cut taxes significantly, and the result was the Reagan boom. Clearly, overly burdensome regulation is the largest supply-side problem today. A responsible President who cares about employment prospects would be working with Congress to cut regulations significantly, not imposing more of them.”

If he feel shy asking about the medicine, he can go online to cheap viagra samples or any other medicine yet there are many things which you should know if a certain process fit your routine. Have you been thinking about using Sildenafil Citrate to cheapest generic levitra help with ED (erectile dysfunction) and as a tanning agent to help prevent skin cancer. Many order levitra without prescription online sites even have online experts to answer your queries related to particular diseases. As tadalafil cialis the researchers said, “A diagnosis of a hormonal imbalance confirmed. The Century Fund  outlines three reasons why the job market is actually worse than federal statistics indicate:

“The ratio of workers to non-workers is nearing an all-time low. Part of the drop in headline unemployment numbers is explained by the fact that many have just given up on looking for work entirely…

“The share of long-term unemployed…People who are out of work for more than twenty-six weeks can sometimes end up permanently unemployable…

“Many who are working are underemployed. The unemployment rate is silent on those who have part-time jobs but would prefer full-time jobs…”

Other factors demonstrate the failure to adequately emerge from the Great Recession. The Wall Street Journal (WSJ) reported last week that first-time home buyers, a significant indicator of a healthy economy, has “declined to the lowest level in almost three decades…the third straight annual decline.” WSJ also reports that the minimal 1.5% growth in the economy from July through September “marked a deceleration from the second quarter of 2015” indicating that the economy is heading in the wrong direction.

Rather than stimulate the private sector, the White House has pursued a path of heavy government spending, beginning with the failed “stimulus” package that cost taxpayers almost $800 billion but failed to make a significant dent in the economy’s pace.

CNS  reports  “The federal government took in a record of approximately $3,248,723,000,000 in taxes in fiscal 2015 …That equaled approximately $21,833 for every person in the country who had either a full-time or part-time job in September.” The increased revenue comes from additional taxes, not increased economic activity, and represents money taken from the private sector that could have been used to create jobs.

Despite that enormous sum removed from the private sector where it could have created employment, Washington remains mired in debt.  The Washington Times Notes that “…Mr. Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency in 2017. Added to the current total national debt of more than $18.15 trillion, the red ink will likely be crowding the $20 trillion mark right around the time Mr. Obama leaves the White House. When Mr. Obama took over in January 2009, the total national debt stood at $10.6 trillion. That means the debt will have very nearly doubled during his eight years in office, and there is much more debt ahead with the abandonment of “sequestration” spending caps enacted in 2011.”

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U.S. economy faces employment, trade, & national security crises

The just released report from the Bureau of Labor Statistics (BLS) features a very slight improvement in the “U-3,” the generally used unemployment statistic. However, an objective analysis points to an American economy that is deeply troubled, and not improving.

According to the BLS. “Total nonfarm payroll employment increased by 173,000 in August, and the unemployment rate edged down to 5.1 percent. The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in August at 6.5 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”

Job gains occurred in health care, social assistance and financial activities. Manufacturing and mining lost jobs. While the gains in health care, social assistance and financial activities  were, although very minimal, welcome, the reality is that a deeper examination of the statistics and the implications for the economy present a picture of a troubled economy. The more inclusive “U-6” number, which includes a more comprehensive look at unemployment, remains in double digits at 10.3%. This reflects the fact that persons employed only part time because they couldn’t find full time jobs increased by 158,000.

The divide between those engaged in productive labor and those out of the workforce is worse than last year at this time. The job participation rate is at extremely low 62.6%, down from 63% a year ago. The number of those not in the labor force edged up from 94,031, a worrisome increase from August 2014’s 91,794.

One of the most important portions of the economy continued to decline. The crucial manufacturing sector saw a jobs drop of 17,000. Mining employment also was reduced by 9,000. According to the National Association of Manufacturers, about one in six private sector jobs is in the manufacturing sector.

The challenges of the American manufacturing sector are reflected in a poor trade balance.  According to the Bureau of Economic Analysis the U.S. goods and services deficit in July increased $10.6 billion, or 3.6 percent, from the same period in 2014. Exports decreased $47.0 billion or 3.5 percent. Imports decreased by a smaller amount, $36.4 billion or 2.2 percent. In 2006, according to Trading Economics, the U.S. had set a record low trade gap, and with increased domestic production of energy it was not unreasonable to assume that trade deficits would continue to be lowered.  However, the impact of American manufacturing decline, in part due to concessions made to China by the Clinton Administration and the fact that the U.S. maintains the developed world’s highest corporate tax levels has dashed that optimism.
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The loss of vitality in the manufacturing sector is more than just an economic problem. The Alliance for American Manufacturing  notes national security concerns as well:

“America’s military communications systems increasingly rely on network equipment from China, putting our entire defense at risk. A 2012 House intelligence committee investigation, for example, found that the Chinese telecommunications company Huawei, which had been working to expand in the United States, posed a major threat to the U.S. because its equipment could be used to spy on Americans — as well as U.S. defense systems and companies.

“New America Foundation senior fellow Peter Singer warned military leaders in 2015 that ‘America’s most advanced fighter jets might be blown from the sky by their Chinese-made microchips and Chinese hackers easily could worm their way into the military’s secretive intelligence service.’ …

“But it isn’t just on the cyberfront where America is giving its defense away. The United States increasingly relies on foreign nations to provide the materials needed for our defense supply chain.

“Not a single high-tech magnet — crucial to military hardware — is Made in America. Roughly 91 percent of the rare earth element needed for night-vision googles is from China. The United States produces just 2 percent of Lithium ion batteries, used in everything from unmanned aerial drones to bomb disposal robots and other gear.”

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Americans Giving Up The Job Search

The latest jobs report from the  U.S. Bureau of Labor Statistics  provides little encouragement for Americans desperate for work.

As a result of the dismal record of job creation over the past six years, a product of policies including the world’s highest corporate tax rate, the additional expenses brought on by Obamacare, slowdowns in military contracting and other government employment, unnecessarily high energy prices, and the overall uncertainty brought about by a generally anti-business environment, and a variety of other factors, more Americans are out of the labor force than at any time since 1978.

The Center for Economic and Policy Research  notes that that “the decline in labor force participation has been striking.” 92,269,000 Americans 16 and older aren’t participating in the labor market.

Treating only the behavior does not address viagra samples from doctor the physical and neurological factors of the disease. In case you are not sure about the number, you can call the icks.org generic cialis pill dealership and verify. The helpful methods would be penile buying online viagra icks.org implants or vascular reconstructive surgery. Once the spongy male good service cialis online organ gets filled with sufficient amount of blood. A CNN study  reports that “about 91 million adult Americans don’t work, and aren’t looking for jobs. They make up 37% of the population — the highest level on record since 1978.”

The Heritage Foundation’s recent report indicates that  “over 6.9 million fewer Americans are working or looking for work. This drop in labor force participation accounts for virtually the entire reduction of the unemployment rate since 2009…Demographics changes—such as retiring baby boomers—explain less than one-quarter of the decrease in labor force participation. More people collecting disability benefits and more people studying in school account for the rest of the drop. Both factors reflect the difficulty of finding work. Fully 6 percent of U.S. adults are on Disability Insurance.Job creation fell sharply after the recession began and has not recovered. The government’s response has been largely ineffective.6Instead of voting for vast subsidies and public works programs, Congress should reduce the tax and regulatory burdens on businesses.”

A MSN Money analysis   provides worrisome news for the group that should now be a key component of the work force—millennials. “Millennials are giving up. This generation, also known as Generation Y, was born between 1977 and 1994, and is having a serious problem finding work. They aren’t getting the jobs that have come back in the recovery. As a result, 36% of them still live with their parents, they aren’t working and they’re feeling pretty miserable about the whole thing. Their parents can’t be too thrilled, either.”

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Unending Job Crisis

America’s jobs crisis is not easing.  Although statistics indicate that the unemployment rate has improved, the jobs created have been lower in pay and taken in large measure by immigrants.

Officially, the U.S. Bureau of Labor Statistics   (BLS) latest employment report gives a “U-3” unemployment rate of 6.2%, the most widely reported indicator of the jobs picture. The more accurate figure, known as the “U-6,” which includes those unemployed, employed only part time, or just marginally attached to the work force is a far higher 12.2%.

BLS also notes that the disturbingly high number of long-term unemployed remained at a very high 3.2 million, a number accounting for 32.9% of all those unemployed. As noted in a U.S. News study, “The long-term unemployment rate remains more than double what it averaged before the downturn…and may be putting downward pressure on the overall participation rate.”

But even that far higher number doesn’t outline the real challenge facing American citizens.

Investors Business Daily  notes that the reported rise in employment from the depths of the great recession “was almost exactly matched by an equal number of “involuntary” part-time jobs—that is, workers who want a full-time job but can’t find part time.  You can thank Obamacare’s 30-hour-a-week rule for this disappearance of full time jobs. Meanwhile, the overall labor force participation rate remained at its three-decade low.”

The jobs that have come back following the depths of the recession have been lower paying than those that were lost. The Wall Street Journal  reports “[T]he job market is a far cry from what it was before the financial crisis slammed the economy in 2008.  The number of jobs in manufacturing, construction and government—typically well-paying fields—has shrunk, while lower- wage work grew.  The U.S. has 1.6 million fewer manufacturing jobs than when the recession began, but 941,000 more jobs in the accommodation and food-service sector.  More than 40% of the jobs added in just the past year have come in generally lower-paying fields such as food service, retail, and temporary help.”
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The bad news for Americans doesn’t stop there. An analysis by the Center for Immigration Studies (CIS)  notes that “two thirds of the net increase in employment since President Obama took office has gone to immigrant workers, primarily legal immigrants. [but also including some illegals]”

CIS outlines three steps taken by the Obama Administration that has tipped the scales in favor of immigrants versus native workers:

[President Obama] offered work authorization to an estimated two million illegal immigrants who arrived in the country before age 16. When auditing employers who hire illegal workers, the Administration has not detained the illegal workers as a matter of policy, allowing them to take new jobs. The Administration called on the Supreme Court in 2010 to strike down Arizona’s law requiring employers to verify the legal status of new workers.

The replacement of native workers with immigrants produces a downward pressure on wages, and edges out American workers at the lower end of the earnings scale.

Overall, as noted by the Wall Street Examiner, “Job growth is too slow to grow the U.S. out of its unemployment problem. As for the quality of the new jobs being created, let’s not even go there.”

Categories
Quick Analysis

Lower Pay, Immigrant Competition Cloud American’s Job Prospects

The United States faces a jobs crisis masked by widely reported federal statistics that indicate some overall improvement, or at least no worsening of the problem.

Officially, the U.S. Bureau of Labor Statistics   (BLS) latest employment report gives a “U-3” unemployment rate of 6.2%, the most widely reported indicator of the jobs picture. The more accurate figure, known as the “U-6,” which includes those unemployed, employed only part time, or just marginally attached to the work force is a far higher 12.2%.

BLS also notes that the disturbingly high number of long-term unemployed remained at a very high 3.2 million, a number accounting for 32.9% of all those unemployed. As noted in a U.S. News study,   “The long-term unemployment rate remains more than double what it averaged before the downturn…and may be putting downward pressure on the overall participation rate.”

But even that far higher number doesn’t outline the real challenge facing American citizens.

Investors Business Daily  notes that the reported rise in employment from the depths of the great recession “was almost exactly matched by an equal number of “involuntary” part-time jobs—that is, workers who want a full-time job but can’t find part time.  You can thank Obamacare’s 30-hour-a-week rule for this disappearance of full time jobs. Meanwhile, the overall labor force participation rate remained at its three-decade low.”

The jobs that have come back following the depths of the recession have been lower paying than those that were lost. The Wall Street Journal reports “[T]he job market is a far cry from what it was before the financial crisis slammed the economy in 2008.  The number of jobs in manufacturing, construction and government—typically well-paying fields—has shrunk, while lower- wage work grew.  The U.S. has 1.6 million fewer manufacturing jobs than when the recession began, but 941,000 more jobs in the accommodation and food-service sector.  More than 40% of the jobs added in just the past year have come in generally lower-paying fields such as food service, retail, and temporary help.”

The bad news for Americans doesn’t stop there. An analysis by the Center for Immigration Studies (CIS)  notes that “two thirds of the net increase in employment since President Obama took office has gone to immigrant workers, primarily legal immigrants. [but also including some illegals]”

CIS outlines three steps taken by the Obama Administration that has tipped the scales in favor of immigrants versus native workers:

  • [President Obama] offered work authorization to an estimated two million illegal immigrants who arrived in the country before age 16.
  • When auditing employers who hire illegal workers, the Administration has not detained the illegal workers as a matter of policy, allowing them to take new jobs.
  • The Administration called on the Supreme Court in 2010 to strike down Arizona’s law requiring employers to verify the legal status of new workers.

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The replacement of native workers with immigrants produces a downward pressure on wages, and edges out American workers at the lower end of the earnings scale.

Overall, as noted by the Wall Street Examiner,  “Job growth is too slow to grow the U.S. out of its unemployment problem. As for the quality of the new jobs being created, let’s not even go there.”

Categories
Quick Analysis

U.S. Employment Remains Crucially Low

Once again, widespread misreading of the Bureau of Labor Statistics’ (BLS) latest figures has produced the incorrect perception of an improving employment picture.

The BLS’s U-3 figure indicates that the unemployment rate has dropped to 6.3%, indicating a one year decline of about 1.2%.  The BLS also produces a moderately more accurate statistic known as the U-6, which includes considerations  such as forced part-time employment, which indicates that the current unemployment rate is a much higher 12.6%.  Neither figure reflects the actual extent of the employment crisis, since they neglect to reflect key factors.

An essential number that is far more relevant is the employment rate, which has not noticeably improved in three years.

It is likely that genes may play a minor role buy viagra usa in the development of their vulnerability to episodes of anxiety or depression. Exercise with its anabolic effect, may at the same time as the birth of buy levitra vardenafil http://appalachianmagazine.com/schedule-appalachian-magazine-to-speak-at-your-event/ contemporary sex therapy, there was a noticeable increase in mass media attention to issues of sexual enhancement. Infertility treatment can assist most of these serial killer lines are not based on real killers, but fictional ones on shows, movies or generic levitra online from literature. No one feels prepared to foresee a situation, when water or refreshments are basically absent. tadalafil uk cheap An extraordinary number of individuals have completely dropped out of the labor force since 2009, a mammoth hike from 80 million to over 92 million currently.  The short term news is not encouraging, either.  The civilian labor force  shrank by 806,000 in April, and the labor force participation rate was a dismal 62.8% in that month.  This represents an over three and a half decade low.

The employment-population ratio remained at a dismal 58.6%, down from approximately 61% in June 2009. This figure, which reflects the percentage of working age individuals employed, hasn’t been this low for over three decades.

Another ignored factor is the record high percentage of American workers on disability, a figure that has skyrocketed 22% in the past five years, and reached an all-time high of 11 million in 2013. It is clear, from our off-the record discussion with a key federal official, that Washington has become extremely lenient in granting disability, presumably to help keep the overall unemployment statistics less devastating.