Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

10 reasons why this jobs market is even worse than the weak June employment report
Investors Business Daily ^ | 07/07/2012

Posted on 07/07/2012 6:57:46 AM PDT by SeekAndFind

Nonfarm payrolls rose by just 80,000 in June, slightly worse than expected and the third straight month of sub-100,000 job growth. The jobless rate held at 8.2%. The employment report was disappointing. Here are 10 reasons why the jobs market is even worse than the headline figures. 1. Unemployment has topped 8% for 41 straight months. Last time above 8% - December 1983.

2. The jobless rate actually makes the labor market look better than it actually is. The rate only counts people who want a job but don't have one. But the labor force participation rate was 63.8% in June, just above near modern-era lows. (It was 66.2% in January 2008 and 67.3% in April 2000). Otherwise, unemployment would be around 11%.

3. The employment-to-population ratio for those aged 25-54 dipped to 75.6% in June, down sharply from 80% in January 2008. Many economists left and right view the core employment ratio as one of the cleanest views of the labor market, because it includes those who have stopped looking for work while excluding the bulge in retirees and young adults in school.

4. Chronic unemployment. The average length of unemployment rose to 39.9 weeks in June, close to recent peak. It was 17.4 weeks at the January 2008 peak and 23.9 weeks in June 2009, when the recession officially ended. Long-term joblessness is particularly bad because skills erode or become obsolete, leading to permanent losses in income.

5. The U.S. added 225,000 jobs in the second quarter vs. 677,000 in Q1. That was the smallest quarterly gain since Q1 2010 — excluding the Q3 2010 post-Census decline. June's gain of 80,000 is not enough to absorb new workers to prevent the unemployment rate from rising over the long term.

(Excerpt) Read more at news.investors.com ...


TOPICS:
KEYWORDS: braking; jobs; toptenlist; unemployment

1 posted on 07/07/2012 6:57:54 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

From the American Thinker:

EXCERPT:

The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration.

The disability ranks have outpaced job growth throughout President Obama’s recovery. While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits.

In other words, the number of new disability enrollees has climbed 19% faster than the number of jobs created during the sluggish recovery

Read more:

http://www.americanthinker.com/blog/2012/07/more_on_the_june_unemployment_figures.html#ixzz1zwgB74yJ


2 posted on 07/07/2012 7:03:12 AM PDT by SeekAndFind (bOTRT)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Restore Free Enterprise - that will renew and restore our nation.


3 posted on 07/07/2012 7:08:13 AM PDT by abclily
[ Post Reply | Private Reply | To 2 | View Replies]

To: abclily

This is exactly what happens when you regulate rule and tax businesses to death and all those educated geniuses in Washington have no clue. To top it off the whole works is run by some one whose idea of success is how many people he can get on food stamps and his business acumen is such that he could not even run a popcorn stand if his life depended on it. At times it makes a person wonder if this is not done on purpose, repeating the same mistakes history has shown not to work over and over and expect different results.


4 posted on 07/07/2012 7:33:04 AM PDT by saintgermaine
[ Post Reply | Private Reply | To 3 | View Replies]

To: saintgermaine

Zero is both evil and incompetent. A bad combination for all of us.


5 posted on 07/07/2012 7:47:58 AM PDT by wjcsux ("In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
[ Post Reply | Private Reply | To 4 | View Replies]

To: SeekAndFind

6 posted on 07/07/2012 7:49:38 AM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

very interesting chart. Especially going forward from 1981.


7 posted on 07/07/2012 7:57:49 AM PDT by khelus
[ Post Reply | Private Reply | To 1 | View Replies]

To: saintgermaine

Know for SURE that all the destruction to our free enterprise was done on purpose. Doing harm to the hated USA was Obama’s mission.

My questions are: Where did he get the authority to bypass Congress? Did the Democrats give him this authority? Did the Republicans give him this authority? Did the two parties conspire to allow him to bypass Congress?


8 posted on 07/07/2012 8:12:15 AM PDT by abclily
[ Post Reply | Private Reply | To 4 | View Replies]

To: Hotlanta Mike

Or, it could be made like this:

Obama Jobs Score = (Zero logo)


9 posted on 07/07/2012 8:16:29 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Sir Napsalot

And this recent health care ruling is pouring more gas on the fire. This job market is not getting better anytime soon.


10 posted on 07/07/2012 9:12:19 AM PDT by Xeroes80 ("An intelligent man is sometimes forced to be drunk to spend time with his fools."- EH)
[ Post Reply | Private Reply | To 9 | View Replies]

To: SeekAndFind
June 02 - initial claims - 377,000 revised to 380,000
June 09 - initial claims - 386,000 revised to 389,000
June 16 - initial claims - 387,000 revised to 392,000
June 23 - initial claims - 386,000 ...

Total INITIAL [+revised] claims for June: 1,547,000

1,547,000 initial [+revised[ claims for unemployment vs. 80,000 new jobs for the month.

At that rate, it would take over 19 MONTHS just to recover from the June numbers.

11 posted on 07/07/2012 9:20:54 AM PDT by TomGuy
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Does anyone know if the formula for determining unemployment rates today are the same as those used during the Great Depression? If not, it would be interesting to apply today’s criteria to the 1930s and vice versa.


12 posted on 07/07/2012 9:54:13 AM PDT by JimSEA
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

85,000 Americans went on disability last month. So, only 80,000 new jobs created (1/3 or more which are temp. jobs) and 85,000 NEW PEOPLE on disability.

Can you hear the revolution brewing yet?

Shame we have to go across the pond to get the news:

http://www.dailymail.co.uk/news/article-2170044/85-000-Americans-went-disability-benefit-June-80-000-jobs-added-period.html

13 posted on 07/07/2012 10:37:30 AM PDT by library user
[ Post Reply | Private Reply | To 1 | View Replies]

To: library user

I answere my own question. The unemployment rate for the time period before 1940 was essentially an estimate. If you were FDR, you would want an exceptionally high rate in 1933 and trending lower. That is was in fact happened and what would have happened in any case. The exaggeration, if any, was slight.

Today, however, we have large numbers of disabled and this category was not large in 1940. Today a far larger portion of the potential work force is in school of some sort. They are not counted as unemployed even though unemployment may have pushed them into a school where they can live off loans, grants, etc.

Why am I rehashing all this? Merely because, Romney could justifiably say that Obama has given us unemployment rates to rival those of the Great Depression. Of course he won’t for a variety of reasons. Of course, to do so would be unabashed racism.


14 posted on 07/07/2012 12:32:08 PM PDT by JimSEA
[ Post Reply | Private Reply | To 13 | View Replies]

To: SeekAndFind
31 times!

**Therefore, it is important not to read too much into any one monthly report and it is helpful to consider each report in the context of other data that are becoming available.**

15 posted on 07/07/2012 12:32:38 PM PDT by Daffynition (Our forefathers would be shooting by now.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

As bad as this all is (and it is bad, BTW), I have yet to hear anyone in the GOP cop a clue what it will take to fix this situation.


16 posted on 07/07/2012 12:49:44 PM PDT by NVDave
[ Post Reply | Private Reply | To 1 | View Replies]

To: JimSEA
"Romney could justifiably say that Obama has given us unemployment rates to rival those of the Great Depression."

Jim, I've read many times here on FR that the ShadowStats numbers represents the formula used as recent as the Clinton presidency.

Looks like 22-23%...depression era numbers IMO.

17 posted on 07/07/2012 1:27:30 PM PDT by blam
[ Post Reply | Private Reply | To 14 | View Replies]

To: NVDave
"As bad as this all is (and it is bad, BTW), I have yet to hear anyone in the GOP cop a clue what it will take to fix this situation. "

Is there a 'fix' that can be publically revealed?

Isn't it just chaos.... forever? (Or, complete collapse?)

18 posted on 07/07/2012 1:30:55 PM PDT by blam
[ Post Reply | Private Reply | To 16 | View Replies]

To: SeekAndFind

There are only two numbers that really matter. All the rest of this is mumbo jumbo, one-dimensional, fluff. In any particular time period, take a month for example, if the number of unemployment filings is greater than the number of W4 new job filings then the workforce is sliding. Anyone using one to make a point without comparing it to the other is a waste-of-space blowhard and needs to be dismissed as a partisan axe-grinder.
I’m not sure if jobs have actually stopped going out of the country, it seems to be slowing, but until that happens the US workforce prospects will be circling the bowl.


19 posted on 07/07/2012 1:32:33 PM PDT by cherokee1 (skip the names---just kick the buttz)
[ Post Reply | Private Reply | To 2 | View Replies]

To: cherokee1
"There are only two numbers that really matter."

Ahem....

The world's most important number? (LIBOR)

20 posted on 07/07/2012 1:51:05 PM PDT by blam
[ Post Reply | Private Reply | To 19 | View Replies]

To: blam

Your chart nails it. But, remember, the private sector is doing “just fine”.


21 posted on 07/07/2012 3:22:39 PM PDT by JimSEA
[ Post Reply | Private Reply | To 17 | View Replies]

To: blam

Yes, it could be revealed and talked about.

But inside the Beltway, it would cause a furor.

1. Immigration needs to be curtailed - both legal and illegal. When the economy isn’t generating jobs, we’re just not able to absorb immigration.

2. We need to end the “free trade” charade.

3. We need to take on the financial sector with fire and sword. The fraud is rampant in the financial sector, and now it has reached levels where perhaps the only way to break apart the banking cartel(s) is to use martial law.


22 posted on 07/07/2012 3:32:34 PM PDT by NVDave
[ Post Reply | Private Reply | To 18 | View Replies]

To: SeekAndFind
Where Have All the Workers Gone?
23 posted on 07/07/2012 8:08:47 PM PDT by Brown Deer (Pray for 0bama. Psalm 109:8)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Too many people asked themselves these questions:

Why am I working when that guy/gal is sitting around all day?

Why am I paying this money into Social Security when I’ll never see a dime of it?

Why am I paying taxes so politicians can buy poor people’s votes with it?

Why struggle to do an honest day’s work politely while the crooks and the rude thrive?

Why speak up when I’ll just be shouted down?


24 posted on 07/08/2012 2:47:33 AM PDT by P.O.E. (Pray for America)
[ Post Reply | Private Reply | To 1 | View Replies]

To: library user
85,000 Americans went on disability last month. So, only 80,000 new jobs created (1/3 or more which are temp. jobs) and 85,000 NEW PEOPLE on disability.

Yeah, but remember, from Obama's perspective, this is a feature, not a bug.

25 posted on 07/08/2012 4:54:19 AM PDT by Yashcheritsiy (not voting for the lesser of two evils)
[ Post Reply | Private Reply | To 13 | View Replies]

To: SeekAndFind

The nation’s workforce expanded by 189,000 in June, 85,000 were added to social security’s disability rolls while only 80,000 unemployed found jobs, and Obama calls it a “step in the right direction”. Anyone who thinks he deserves another four years must be getting all their news from MSNBC.


26 posted on 07/08/2012 4:59:37 AM PDT by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

“Long-term joblessness is particularly bad because skills erode or become obsolete, leading to permanent losses in income.”

That one jumped right out at me. I guess I hadn’t thought about the fact that NOT having a job for a very long time makes you less employable in the future. Reminds me of the days when many SAHMs were forced back into the workforce under President Carter, to keep their families afloat. My Mom, included.

Scary times for us all.


27 posted on 07/08/2012 7:23:19 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson