Tag: unemployment

Categories
Quick Analysis

Media Ignores Trump Economic Success

One of the most important news items, the virtual rebirth of the American economy under the Trump Administration, is also one of the most under-reported.

The reasons for that are political.  Obviously, it is a success for a White House that most of the media almost desperately attempted to prevent getting elected, and, once that effort failed, did everything possible to cripple. The magnitude of the Trump economic revival could be sufficient to get the President re-elected, an outcome that media seeks to prevent at all costs.

There is also an embarrassment factor, as key left-wing writers and politicians claimed Trump’s policies were incompetent or worse.  Just two examples: The New York Times’ Paul Krugman predicted that Trump’s policies would lead to a “Global recession, with no end in sight.”  Obama himself mocked Trump’s promise to revive manufacturing employment, stating that “those jobs aren’t coming back.”

Obama’s approach of extensive regulation at home and timidity in confronting China abroad provided poor results for American industry and related employment, continuing a downward spiral that could be traced back to the Clinton Administration. During the 2016 presidential campaign, Slate’s Jordan Weissman,  noted:  “Things have not worked out quite as the 42nd president hoped. Normalizing trade with China set our rival on a path to becoming the industrial powerhouse the world knows today, decimating American factory towns in the process and upending old assumptions about how trade effects the economy. Thanks to a growing body of academic research, we’re only just now beginning to understand the extent of the economic fallout…”

Please keep your alcohol intake in charge to enjoy the profound and transformational benefits deeprootsmag.org generic viagra online through Trivedi Master WellnessTM energy transmission programs. Most men over the age of 65 suffer from erectile dysfunction this kind of drug is also used for curing the rare heart disease of PAH (Pulmonary arterial Hypertension). levitra on line Therefore, by taking viagra no doctor the medicine one can forget his condition and can enjoy his love-life even normally. Expect to be generic levitra treated as priority by your driver and the rest of our staff.

In October, Forbes noted that “Comparing the last 21 months of the Obama administration with the first 21 months of Trump’s, shows that under Trump’s watch, more than 10 times the number of manufacturing jobs were added.”

The extraordinary rise of the U.S. economy is continuing. The U.S. Bureau of Economic Analysis reports that Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the first quarter of 2019. Current-dollar personal income increased $147.2 billion in the first quarter. Disposable personal income increased $116.0 billion, or 3.0 percent, in the first quarter. Personal saving was $1.11 trillion in the first quarter, compared with $1.07 trillion in the fourth quarter.”

According to the Bureau of Labor Statistics Total nonfarm payroll employment in March rose by 196,000 jobs (see figure), beating market expectations (175,000). The month of March continued the longest streak of growth on record (102 months). Job gains in February were revised up by 13,000, and January jobs were revised up by 1,000 for a cumulative increase of 14,000 jobs.

The White House notes that  “In total, the economy has added over 5.5 million jobs since President Donald J. Trump was elected. The March jobs report reflects a sharp rebound in job growth… Since the President was elected, job gains have surpassed 100,000 jobs in 26 of the 28 months. The average jobs growth in the past 12 months is a robust 211,000 jobs and jobs growth in the past 6 months has averaged 207,000 jobs. Both the 12-month and 6-month averages remain above the 2017 average of 179,000 jobs gained per month…Since the President’s election, the manufacturing industry has added 480,000 jobs and 209,000 jobs in the past 12 months. The report indicates that strong jobs growth is being coupled with wage growth. Nominal average hourly earnings rose by 3.2 percent over the past 12 months, marking the 8th straight month that that year-over-year wage gains were at or above 3 percent. Prior to 2018, nominal average hourly wage gains had not reached 3 percent since April 2009. Taking inflation into account, there is evidence that real wages are also growing. Based on the most recent Personal Consumption Expenditures (PCE) price index data from January, inflation in the past year was 1.4 percent, and based on the most recent Consumer Price Index (CPI-U) price data from February, the inflation in the past year was 1.5 percent.”

A particularly unique accomplishment: black and Latino unemployment is at an historic, all-time low.

Great news, all around. Just don’t expect to read much about it in the media.

Chart: White House graphic

Categories
Quick Analysis

U.S. Economy Gains Spread Wide

The U.S. economic revival is broad, apparently durable, and significant, particularly in that its success covers almost all segments of society.

The aftermath of the Great Recession of 2007 and the stagnation of the Obama era presented key challenges. However, reducing both taxes and the excess regulations allowed the inherent strength of the American economy to reassert itself. The current upswing is particularly notable for several reasons.

First, it has an extensive reach throughout all segments of the population. Blacks, Hispanics, young people, and the middle class, several segments that had been particularly hard pressed, are gaining. Second, blue collar workers, who have been harshly affected by the poor economic decisions of prior administrations, are benefiting. Third, Main Street is gaining, as well as Wall Street.

Despite political claims to the contrary, wages are growing. According to the Bureau of Labor Statisics (BLS) average hourly earnings for all employees in August increased by 10 cents to $27.16. For 2018 so far, average hourly earnings gained by 2.9 percent, or 77 cents. Job growth has been notable. Total nonfarm payroll employment increased by 201,000 in August, in line with the average monthly gain of 196,000 over the prior 12 months.

The details are important.  At 6.3%, the unemployment rate for blacks is the second-lowest in history. Steve Cortes, writing in Real Clear Politics, noted in April: “Among Latinos, the jobless rate has only registered below 5 percent for seven months total, in the history of this country. Six of those months have occurred with Donald Trump in the White House…The jobs data was terrific news for Americans of all ethnicities. For the first time since the year 2000, the overall unemployment rate dipped below 4 percent. Just as significant, almost 1 million Americans who had previously given up on finding a job have rejoined the workforce since Trump was elected.”

The Wall Street Journal  reports that youth unemployment, formerly a similarly bleak statistic, also has seen remarkable improvement. Andrew Duehran notes that “…the unemployment rate among young Americans fell to its lowest level in more than 50 years this summer…Of Americans between 16 and 24 years old actively looking for work this summer, 9.2% were unemployed in July, the Labor Department said Thursday, a drop from the 9.6% youth unemployment rate in July 2017. It was the lowest midsummer joblessness rate for youth since July 1966.”
This same ingredient is contained in cheap viagra pfizer pills, and has shown to be effective, safe, and not expensive prescription medications. Juhl, DO, reported that 68 percent of 421 low back pain patients presented radiographically with short right legs.2 Functional Leg-Length Assessments Through the years, manual therapists have advanced in many creative ways to differentiate functional (fixable) from structural (true) limb-length differences. free cialis The hormonal changes, enzymatic activity and various other biochemical reasons greatly affect the rate of blood flow in the male purchase cheap levitra amerikabulteni.com sex organ. Medical studies have cialis 5mg generika shown that half of all the men between ages of 40 and 70 are known to experience episodes of poor erections at some point of time.
The other end of the age spectrum is gaining, as well.  Claudia Dreifus, in The New York Times writes that “In a tight labor market, retirees fill gaps their previous employers can’t…At a moment when the unemployment rate is low, hovering around 3.9 percent, some employers are turning to their pool of retirees to fill holes in their staff. ‘In a tight labor market, firms find recent retirees increasingly attractive,’ said Kathleen Christensen, who funds research on aging and the American labor market at the Alfred P. Sloan Foundation. ‘Their skills are up-to-date, they possess critical institutional knowledge, and they can mentor younger workers. Hiring back recent retirees appears more common than at any other time since the Great Recession,’ she added.”

Blue collar workers, long overlooked, are prospering. The BLS notes that there are 243,000 open blue collar jobs.  Mining employment increased by 6,000 in August,  Since a recent trough in October 2016, the industry has added 104,000 jobs. Employment in construction continued to trend up in August (+23,000) and has increased by 297,000 over the year. Manufacturing employment was up by 254,000, with more than three-fourths of the gain in the durable goods component.

The Miami Herald reported this month that “Miami is a city with an ever changing skyline. And those who make it happen — the plumbers, electricians, brick masons and carpenters — earn far above the local median: $55,000-75,000 a year with full benefits and a pension. But as the economy barrels toward full employment, local contractors are struggling to find enough skilled workers to fuel the construction boom. ‘We’re seeing it across the board. There are shortages in every trade,’ said Peter Dyga, president of the South Florida-based Florida East Coast Chapter of Associated Builders and Contractors, a non-profit trade organization comprised of several construction firms and contractors.”

While paychecks are improving as well becoming more available, additional dollars are being freed up to consume goods.  According to Americans for Tax Reform  “Thanks to the tax cuts passed by the Republican House and Senate and signed by President Donald Trump, at least 120 utilities across the country are lowering rates for customers, according to a report from Americans for Tax Reform. This means lower electric bills, lower gas bills, and lower water bills for Americans. The Tax Cuts and Jobs Act cut the corporate rate from 35% to 21%. Utility companies are passing on the tax savings in the form of lower rates for customers.”

Photo: Pixabay

Categories
Quick Analysis

Ignoring Good News About America’s Economy

In the aftermath of the election of 2016, America’s economy has made a significant comeback following a decade of recession and poor decision making in Washington.  But you wouldn’t notice it from major news media reports.

Part of the problem established by the media’s replacement of objective coverage of the news with editorial opinion is that significant information simply does not get reported, outside of specialty publications and sources that happen to favor the political interests that gain from a particular piece of information.

Currently, many general media sources are ignoring or downplaying the national economic revival.

The Congressional Budget office (CBO)  has reported that real GDP growth is relatively strong this year and next, as recent changes in fiscal policy add to existing momentum. Productivity growth, after the ravages of the recession and the Obama economy,  are returning to nearly average over the past 25 years.  The Trump Administration’s changes in fiscal policy have boosted incentives to work, save, and invest. CBO also estimates  that receipts for the first seven months of fiscal year 2018 totaled $2,012 billion, a figure which is $83 billion more than the amount during the same period last year. That is somewhat surprising. Receipts collected in April, for example, were $30 billion to $40 billion larger than CBO expected.

The good news is, according to CBO, mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year.

Economic and business publications, unlike the general media, have noticed. Forbes notes that  “A strong job market will likely lead to higher consumer spending in the summer months as employment and incomes keep growing. Inflation isn’t expected to be as volatile. HSBC estimates 1.9%, or thereabouts, for the foreseeable future.”

The temperature of the room ought to be in the civilian world. pharmacy online viagra I am sure you know that these products have different price ranges but, even when it comes to the product itself, you want the best product that will help you in acquiring rid of the issue. generic vs viagra One tablet cannot be repeated before you 24 buying tadalafil hours have been completed to the first pill. And it does not make 1 have an instant erection without having cialis buy india having physical sexual stimulation. The Hill reports that “Fourteen states have set new records for low unemployment rates in the last year, nearly a decade after the recession put millions of Americans out of work… Such a tight job market means businesses are competing for workers, rather than workers competing for scarce jobs.”

These aren’t abstract figures that are merely statistics good for Wall Street while not helpful to Main Street, a problem that was prevalent during the Obama Administration.  Middle class employment is finally rising. The latest Bureau of Labor Statistics  monthly report disclosed that Total nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9 percent. More important than the overall statistic was the type of jobs that were increasing. Job gains occurred in professional and business services, manufacturing, and mining, solid middle class occupations which had been declining over the past decade as a result of poor policy decisions. BLS found that “In April, employment in professional and business services increased by 54,000. Over the past 12 months, the industry has added 518,000 jobs. Employment in manufacturing increased by 24,000 in April…Manufacturing employment

has risen by 245,000 over the year…In April, employment in mining increased by 8,000…Since a recent low in October 2016,employment in mining has risen by 86,000.

BLS also found that  the median weekly earnings of wage and salary workers in the first quarter of 2018 Median weekly earnings of the nation’s 113.4 million full-time wage and salary workers was 1.8 percent higher than a year earlier.

In a statistic that may prove somewhat disruptive for Democrats in the upcoming midterm elections, who heavily depend on black and Latino support, the Trump Administration’s economic policies have been particularly helpful to both those communities.  The unemployment rate for black workers dropped to 6.6 percent, beating the previous record low of 6.8 percent set in December. Similarly, Hispanics had an historic low  unemployment rate of 4.8%, matched once before in 2006.

Photo: U.S. Department of Labor

Categories
Quick Analysis

Media Downplays Trump Economy Success

The media has, for the most part, underplayed an important news issue: the dramatic recovery of the U.S. economy in the first year of the Trump Administration. Wall Street may fluctuate, but in contrast to the Obama years, Main Street is doing better

While individual statistical reports have grudgingly disclosed the welcome numbers, the overall impact of policies that promised (and recently delivered) lower taxes, decreased regulation, and the rejection of anti-energy production policies have been largely un-discussed.

From 2010—2016, the average GDP under Obama was about 2.12, including a dismal 1.9 in 2016. The fact is, the fiscal environment was getting worse, not better, as the impact of President Obama’s regulatory excesses, and his anti-energy policies became more deeply embedded. GDP never exceeded 3% annually, for the first time in the past seventy years. In sharp contrast since Trump’s election, 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. In the second quarter, real GDP increased 3.1 percent.”

Even Americans outside of the job market suffered. While Obama dramatically increased spending on food stamp programs and assistance to illegal aliens, social security recipients during his administration received the lowest levels of cost of living increases since the Social Security cost of living system began.

In President Trump’s first year, MSN noted in January, “the economy has done something it has been unable to do since 2005: maintain 3 percent growth for three quarters in a row.” Forbes adds that “Over the past year, the stock market has boomed, GDP growth has improved and unemployment is at an almost 17-year low.” Black unemployment has reached historic lows since President Trump took office. In the latest statistics released by the Bureau of Labor Statistics, 6.9% of black adults were unemployed in February. ZeroHedge’s Tyler Durden emphasized that total U.S. employee compensation rose in the fourth quarter to match the biggest 12-month gain since 2008, as private-sector pay picked up. Total compensation, which includes wages and benefits, rose 2.7% over the past 12 months, the highest since 2008.

DC Statesman noted that “U.S. employers added 200,000 jobs in January. Wages soared at the best pace in over 8 years. And it’s all thanks to President Trump’s tax plan. Employers are competing for a smaller pool of candidates because the unemployment rate is so low. This is causing businesses to increase wages in order to compete with the dwindling employee market. 18 different states have seen minimum wage increases and raises are aplenty thanks to businesses keeping more of their earnings thanks to the tax plan. Speaking of the unemployment rate, it sits at 4.1% for the 4th straight month. It is at its lowest level since 2000.”

Executives and customer care officials are available for the student support 24/7 and this makes their queries very easy wholesale viagra 100mg and inexpensive. cialis 10 mg To help men improve their sexual health and to live life at the fullest level. It was also stated viagra cost regencygrandenursing.com that some saddle designs were more damaging than the others. This is so because the energy level then tends to decrease so one has to take help of levitra tab 20mg certain emotion. The actual nature of the job creation story has been the most underplayed. The latest release from the Bureau of Labor Statistics (BLS)  discloses that “Nonfarm payroll employment increased by 313,000 in February, and the unemployment rate was unchanged at 4.1 percent. Job gains occurred in construction, retail trade, professional and business services, manufacturing, financial activities, and mining. Incorporating revisions for December and January, which increased nonfarm payroll employment by 54,000, monthly job gains have averaged 242,000 over the past 3 months.”

While all of those increases are welcome, the manufacturing and mining hikes are the most notable.  As noted by the BLS, “Manufacturing employment grew by 31,000 in February. The industry has added 224,000 jobs over the past 12 months. In February, mining employment rose by 9,000, with most of the job gain occurring in support activities for mining (+7,000). Since a recent low point in October 2016, mining has added 69,000 jobs.”

Job creation under Obama was largely confined to low-income jobs with no benefits. Job creation under Trump, in contrast, has been in better paying, middle-class positions.

In a critique of the Obama Administration’s post-recession policies, Peter Ferrara, writing for The Hill,  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… Based on that metric, the economy should have come out of the recession booming. But [during the Obama Administration that never] happened.

Despite that, notes The Heritage Foundation “Still Donald Trump gets no respect. Even though nearly every poll for the past six years tells 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.”

DOL photo

Categories
Quick Analysis

Jobs Report Reflects decline of Middle Class, Part 2

The latest release from the Bureau of Labor Statistics  (BLS) notes that the nation’s labor participation rate remained at 62.7%, a devastatingly low level not seen since 1978.

A 2015 Analysis by Investors.com  “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.)

Also in 2015, Zerohedge  listed a number of factors indicating the plight of the middle class.  Among the most important:

  • In 2008, the total number of business closures exceeded the total number of businesses being created for the first time ever, and that has continued to happen every single yearsince then.
  • In 2008, 53 percent of all Americans considered themselves to be “middle class”.  But by 2014, only 44 percentof all Americans still considered themselves to be “middle class”.
  • In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”.  But in 2014, an astounding 49 percentof all Americans in that age range considered themselves to be “lower class”.
  • Traditionally, owning a home has been one of the key indicators that you belong to the middle class.  So what does the fact that the rate of homeownership in America has been falling for seven years in a rowsay about the Obama years?
  • While Barack Obama has been in the White House, the average duration of unemployment in the United States has risen from8 weeks to 32.8 weeks.
  • It is hard to believe, but an astounding53 percent of all American workers make less than $30,000 a year.
  • While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to46 million.
  • Ten years ago, the number of women in the U.S. that had full-time jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin.  But now the number of women in the U.S. on food stampsactually exceeds the number of women that have full-time jobs.

You have been prompted by your spehttp://respitecaresa.org/programs/residential-services/ tadalafil 5mg no prescriptiont to keep away from side effects: * Start the medication as prescribed by the physician* Avoid high fat meal as it may bring actual results of healthy love-life. Once purchase generic cialis respitecaresa.org you ingest the jelly, you should always consult your GP. Also the medicine selling website order levitra online should provide convenient paying methods. Then the use of hearing aid may help in alleviating this ringing of ears cialis price sound.
CNS  report released in June notes 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.”

 

 

Categories
Quick Analysis

Jobs Report Reflects Decline of Middle Class

The December jobs report reflects the left’s disenfranchisement of the American middle class, a result of Mr. Obama’s placing what should be the most important segment of the U.S. population into a far lesser priority. There have been massive increases in programs for the poor, which have failed to alleviate poverty, and the rich have fared well. Fortune Magazine  described the outcome of Obama’s policies: “the über rich have experienced impressive real income growth, while the bottom 99% has seen almost none.”

The Minnesota Post  notes that “corporate profits skyrocketed during the Obama years, but the poverty rate didn’t decline and actually inched upward, both of which probably confound simple notions of whose side Obama is on.”

The practical expression of a presidential administration’s political goals and views is expressed in its budgetary and economic decisions, which are also the means with which an administration rewards friends and punishes the opposition. With the imminent conclusion of the Obama tenure, it is evident that the middle class, which was the portion of the electorate that least supported the current White House or its supporters in the hard left of the Democrat Party, has had a rough eight years.

As the New York Analysis of Policy and Government has noted, Data from The Pew Research Center reported “The American middle class is losing ground in metropolitan areas across the country, affecting communities from Boston to Seattle and from Dallas to Milwaukee. From 2000 to 2014 the share of adults living in middle-income households fell in 203 of the 229 U.S. metropolitan areas examined in a new Pew Research Center analysis of government data. The decrease in the middle-class share was often substantial, measuring 6 percentage points or more in 53 metropolitan areas, compared with a 4-point drop nationally. The shrinking of the middle class at the national level, to the point where it may no longer be the economic majority in the U.S., was documented in an earlier analysis by the Pew Research Center. The changes at the metropolitan level…demonstrate that the national trend is the result of widespread declines in localities all around the country.”

The Stratfor intelligence organization concurs.: “The threat to the United States is the persistent decline in the middle class’ standard of living, a problem that is reshaping the social order that has been in place since World War II and that, if it continues, poses a threat to American power… In the 1950s and 1960s, the median income allowed you to live with a single earner — normally the husband, with the wife typically working as homemaker — and roughly three children. It permitted the purchase of modest tract housing, one late model car and an older one. It allowed a driving vacation somewhere and, with care, some savings as well…  Government programs frequently fail to fulfill even minimal intentions while squandering scarce resources…”
Types of side-effects involved The medicine is FDA and quality approved so that the users get to not only be realistic together with your clients about their expectations, but levitra canada prescription also not to ever take on a job that pays decent sums and better growth prospects. Often, you will find sexual wish of women get affected because of her relationship maintained with the sexual partner. cheap cialis 20mg Once more, it is a good try to confer with cialis where their doctors before deciding on any treatment plan, especially if surgery is being considered. 6. It’s fast and easy! Here on the online drug store and use your cheapest tadalafil online pdxcommercial.com debit or credit card to clear the payment.
The reason for the past eight years of decline of the U.S. middle class was not the result of a cyclical downturn in business, nor the 2007—2009 recession.  It is the specific result of federal tax and spending practices which ignored the needs of the private sector, particularly small businesses, and redirects federal dollars away from essential needs such as economic growth, defense and infrastructure and towards entitlements (but NOT Social Security of Medicare.)

The most basic indicator of the health of the U.S. middle class is the availability and quality of employment.

The Wall Street Journal notes that “In the mid-1990s and early 2000s, it was common for economists to estimate the U.S. needed 200,000 or even 250,000 jobs every month to keep the rate steady over time.” The Labor Department’s [latest] survey of employers found that the economy created 156,000 new jobs in the last month of 2016, down from the 12-month average of 180,000. Some 12,000 of those were government jobs, including 5,000 for the feds. The numbers were even less inspiring in Labor’s household survey, which found only 63,000 net new jobs in the month. The household survey tends to better capture job growth among small businesses and it is the basis for the monthly unemployment rate, which ticked up to 4.7% from 4.6%.” However, if those who are working only part time because of a lack of full time jobs are counted, a shortage which can be blamed on Obama’s policies, the rate goes up to 9.2 percent. 5.5 million Americans fit into this category in December. Fortune  notes that a significant explanation of the reduced unemployment rate comes “from the large number of Americans who have dropped out of the workforce altogether.”

Among the marginally attached, there were 426,000 discouraged workers in December, down by 237,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available to them. The remaining 1.3 million persons marginally attached to the labor force in December had not searched for work for reasons such as school attendance or family responsibilities.

Categories
Quick Analysis

Government Employment Grows While Manufacturing Jobs Shrink

The latest release from the Department of Labor Statistics (BLS)   provides no encouraging news for an employment environment mired in stagnation.  It does reveal some disturbing structural information about the type of jobs created and the overall economy.

According to the BLS, “The number of job openings was little changed at 5.5 million on the last business day of September… Hires edged down to 5.1 million and total separations was little changed at 4.9 million. Within separations, the quits rate was unchanged at 2.1 percent and the layoffs and discharges rate decreased to 1.0 percent…On the last business day of September, there were 5.5 million job openings, little changed from August. The job openings rate was 3.7 percent in September. The number of job openings was little changed for total private and for government. Job openings was also little changed in all industries and regions. The number of hires edged down to 5.1 million in September (-187,000). The hires rate was 3.5 percent. The number of hires was little changed for total private and for government. Hires decreased in arts, entertainment, and recreation (-63,000) and was little changed in all other industries. The number of hires decreased in the Northeast region (-108,000) and was little changed in all other regions. The number of total separations [Total separations includes quits, layoffs and discharges, and other separations.] was essentially unchanged for total private and for government. Total separations increased in transportation, warehousing, and utilities (+50,000) and decreased in arts, entertainment, and recreation (-55,000). The number of total separations was little changed in all four regions…

“In October, both the labor force participation rate, at 62.8 percent, and the employment-population ratio, at 59.7 percent, changed little. These measures have shown little movement in recent months, although both are up over the year.

“The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers) was unchanged in October at 5.9 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.”

Long-term dedication toward exercise is what experts recommend men purchase generic levitra to stay away from erectile dysfunction. The case is the same cialis buy india to the doctor for making the surgery more successful. As tadalafil 20mg generika greyandgrey.com awareness of this problem has increased, the number of men who desire treatment has also increased. It acts by preventing tab viagra the production of Dihyrdo-testosterone hormone, which is the hair loss triggering agent. The BLS’ Employment Situation Summary  reports: “In October, both the labor force participation rate, at 62.8 percent, and the employment-population ratio, at 59.7 percent, changed little. These measures have shown little movement in recent months, although both are up over the year. The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers) was unchanged in October at 5.9 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.”

A closer examination reveals further disturbing facts. Manufacturing employment, a bedrock of middle class stability, was reduced by 9,000, while government employment rose by 19,000.

An interesting, and unexpected, critique of the economy under the Obama presidency by Bill Clinton was revealed by a Daily Caller article which disclosed the former president’s remarks from a November 2015 closed-door fund raiser. According to Mr. Clinton, the economic doldrums of the Obama economy should be blamed for plummeting life expectancy rates among white, working-class Americans, whom, he noted, “don’t have anything to look forward to when they get up in the morning.” He added ““We have incredible debates all over America that shouldn’t exist between people in different racial groups because they don’t trust law enforcement anymore,” he continued. “And in the middle of all this we learned, breathtakingly, that middle-aged, non-college-educated white Americans’ life expectancy is going down and is now lower than Hispanics, even though they make less money.”

Another group ill served over the past several years has been youth. The 2016 Global Youth Development Index and Report  listed the United States as only 23rd among nations based on 18 indicators marking progress for those aged 15 to 29.

Categories
Quick Analysis

Middle Class Jobs and Manufacturing Employment in Crisis

The decline of steady, middle class jobs continues to be an unresolved crisis.

According to the latest report from the Bureau of Labor Statistics,  (BLS) the “official” U-6 unemployment rate increased from 9.6 to 9.7 from September of 2015 to September of 2016.  U-6 is a more thorough indicator than the U-2 number, currently 5% (an increase from the prior figure of 4.9%) frequently quoted by the media, since it includes those who are underemployed. Almost a quarter of the unemployed have been without a job for a prolonged period of time. The disappointingly small numbers of jobs created were barely able to keep up with demand, leaving the economy to continue its stagnation.

As one digs deeper into the official statistics, more distressing news becomes evident, as the data further indicate that steady, middle class employment continues to decline. Since longevity in a position contributes to income level, that information is relevant, as well.  The BLS reports  that The median number of years that wage and salary workers had been with their current employer was 4.2 years in January 2016, down from 4.6 years in January 2014.

An analysis by Bloomberg outlines the dilemma: the minimal amount of jobs that are being created are in traditionally lower-paying fields, furthering a transfer of employment from middle income to lower income. Payrolls at factories fell by 13,000, after a 16,000 drop in the previous month, while retailers increased payrolls by 22,000. Employment in leisure and hospitality rose 15,000.

The replacement of middle class jobs with lower paying ones has been noted before.  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.

Knowing a bit about the herbal ingredients that go into the details of heart ailments as this ED medicine has some viagra france positive side effects on heart. Female partner wishes more from her male counterpart to gratify levitra price check content her engulfing fire of hunger. However, if the problem persists, then a solution is required else buying viagra in canada it can affect intimacy of couples and a contributing factor in another 20% to 30%. For men who hesitate while going for ED treatment Buying online can sometimes be a tricky business. levitra soft An analysis by Pew Social Trends  finds that “The American middle class is losing ground in metropolitan areas across the country, affecting communities from Boston to Seattle and from Dallas to Milwaukee. From 2000 to 2014 the share of adults living in middle-income households fell in 203 of the 229 U.S. metropolitan areas examined in a new Pew Research Center analysis of government data. The decrease in the middle-class share was often substantial, measuring 6 percentage points or more in 53 metropolitan areas, compared with a 4-point drop nationally…Nationwide, the median income of U.S. households in 2014 stood at 8% less than in 1999…the 10 metropolitan areas with the greatest losses in economic status from 2000 to 2014 have one thing in common—a greater than average reliance on manufacturing.  Most of these areas, such as Springfield, OH, and Detroit-Warren-Dearborn, MI, are in the so-called Rust Belt. The areas not in the Rust Belt, such as Rocky Mount, NC, and Hickory-Lenoir-Morganton, NC, are also industrial communities…”

According to the Alliance for American Manufacturing over 63,000 factories have closed since 2001, and 5.1 million manufacturing jobs have been lost since 2000. President Bill Clinton dramatic alteration in trade relations with China bears a great deal of responsibility for the manufacturing employment exodus. His “U.S.-China Relations Act of 2000” granted permanent normal trade relations with China.

Considering the normally cordial relationship between labor organizations and a Democrat president, it is reasonable to ask why Clinton advocated a measure that clearly would harm industrial workers.

Michael Bargo, Jr., writing in the American Thinker  believes the problem began early in the Clinton presidency, on May 28, 1993, he issued Executive Order 12850, which “illegally shifted the decision-making role [about China’s trade status] to the Secretary of State… Clinton’s Executive Order was issued at a time when the U.S.-China trade deficit was only $18 billion a year. In 2015 the deficit was $367 billion.”

Bargo provides a suggested motive for the odd move: “just as the Clinton Foundation has been linked to relationships Hillary had to her speech payers and donors, Bill Clinton’s decision to send jobs to China by permanently controlling its MFN status has been linked to campaign donations. Boeing Company wanted the EO. Boeing was the parent company of the Loral Corporation, which donated $100,000 to the Democratic National Committee in June, 1994, according to a Washington Post report at the time. A nice reward to Clinton for his MFN status change. The Loral Corporation is a major developer of missile flight control software and at the time they wanted to launch satellites from China. Boeing also owned McDonnell-Douglas which in 1994 made an agreement with China to open a parts factory in Beijing. If this all seems oddly similar to the deals Hillary made with foundation campaign donors, well, that’s because it is.”

Categories
Quick Analysis

U.S. Economy, Employment in Crisis

Despite desperate efforts to portray the economy as stable, the latest economic reports and statistics outline an ongoing crisis.

The recent indicators from the Bureau of Labor Statistics reveal that from January 2013 through December 2015, there were 3.2 million workers displaced from jobs they had held for at least 3 years. This follows the 4.3 million workers for the prior survey period covering January 2011 to December 2013. In January 2016, only 66 percent of workers displaced from 2013 to 2015 were reemployed, and only 61 percent were found to be reemployed in the prior survey in January 2014.

Thirty-seven percent of long-tenured displaced workers from the 2013-15 period cited that they lost their job because their plant or company closed down or moved; an additional 37 percent said that their position or shift was abolished and 26 percent cited insufficient work. Seventeen percent of long-tenured displaced workers lost a job in manufacturing. Among long-tenured workers who were displaced from full-time wage and salary jobs and were reemployed in such jobs in January 2016, only 53 percent had earnings that were as much or greater than those of their lost job, similar to the prior.

94,391,000 Americans are not in the labor force, as the labor participation rate is at a distressingly low 62.8%, the lowest figure since 1977. CNS notes that “The best the Labor Participation rate been since Barack Obama took office is 65.8 percent in February 2009, the month after he was sworn in.” CNS also found that government employees in the United States outnumber manufacturing employees by 9,932,000. Federal, state and local government employed 22,213,000 people in August, while the manufacturing sector employed 12,281,000.

The Bureau of Labor Statistics  also found that Nonfarm business sector labor productivity decreased at a 0.6-percent annual rate during the second quarter of 2016. From the second quarter of 2015 to the second quarter of 2016, productivity decreased 0.4 percent, the first four-quarter decline in the series since a 0.6-percent decline in the second quarter of 2013.

The Institute for Supply Management  reports that: “Manufacturing contracted in August as the PMI registered 49.4 percent, a decrease of 3.2 percentage points from the July reading of 52.6 percent, indicating contraction in manufacturing…”
If one really needs to get over erectile soft generic viagra dysfunction then you won’t be able to enjoy much. Usually, men and women over 40 years of age opt for Rhytidectomy (facelift). cialis generic wholesale It is sold out in the form of tablets. tadalafil buy online In 1789, most states only allowed property owners the right to vote. buy viagra without
Bloomberg notes that “The August [employment] figure is consistent with a simmering-down of payrolls growth so far this year…The average work week for all workers decreased by 6 minutes to 34.3 hours in July, the lowest since 2014 and the first drop in six months.”

A CNBC review notes that the average work week declined 0.1 percent to 34.3 hours. That was largely because the biggest jobs gains came in bars and restaurants, which added 34,000 positions. Social assistance grew by 22,000, professional and business services added 22,000, and Wall Street-related positions grew by 15,000. Health care also contributed 14,000.

The Wall Street Journal reports that “America is now home to a vast army of jobless men who are no longer even looking for work—roughly seven million of them age 25 to 54, the traditional prime of working life.

This is arguably a crisis, but it is hardly ever discussed in the public square…In 2015 the work rate (the ratio of employment to population) for American males age 25 to 54 was 84.4%. That’s slightly lower than it had been in 1940, 86.4%, at the tail end of the Great Depression. Benchmarked against 1965, when American men were at genuine full employment, the “male jobs deficit” in 2015 would be nearly 10 million, even after taking into account an older population and more adults in college…look at the fraction of American men age 20 and older without paid work…Clearly big changes in the U.S. economy, including the decline of manufacturing and the Big Slowdown since the start of the century, have played a role. But something else is at work, too: the male flight from work has been practically linear over the past two generations, irrespective of economic conditions or recessions.  What we might call “sociological” factors are evident, not least the tremendous rise in unworking men who draw from government disability and means-tested benefit programs.

According to the Bureau of Economic Analysis, real gross domestic product increased at an annual rate of 1.1 percent in the second quarter of 2016, a near-recessionary figure.

Categories
Quick Analysis

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.
For those men, who suffer from the embarrassing problem of premature ejaculation and erectile buying levitra from canada dysfunction. Here we will discuss three of levitra brand online the most common sexual disorders which have an intimate link with cardiovascular disease is Erectile Dysfunction (ED) & Premature Ejaculation? Modern treatment of Erectile Dysfunction has been taken care off. When you don’t sleep, you don’t have the energy for a http://www.icks.org/data/ijks/1483475739_add_file_4.pdf pfizer viagra canada hard erection. Inflammation Is The Causal Link Between Psoriasis And other serious conditions, we now realize that psoriasis is a hyper-proliferative inflammatory skin disease that often occurs as cheap viagra rough, red, flaking lesions.
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.