Skip to comments.The Last Four Years of the US Economy: Sgt. Obammer's Lonely Job Search Band
Posted on 01/21/2013 11:32:18 AM PST by whitedog57
As President Obama is at his second inauguration, it seems appropriate to review some of the economic details of his last four years as President.
Civilian Employment to Population Ratio
During the Great Recession, the employment to population ratio plunger from 60.6% in January 2009 to 58.6% currently.
Labor Force Participation Rate
Likewise, the labor force participation rate plunged from 65.8% in January 2009 to 63.6% currently.
The Civilian Labor Force has grown by only 1.28 million since January 2009 despite the US population growing 9.05 million since January 2009. That is an abysmal ratio of only 14.15 of labor force additions to population additions.
Wages and Salaries as % of GDP
Like the labor numbers, wages and salaries as a percentage of GDP has fallen since January 2009.
Black Unemployment Rate
Black unemployment remains high at 14%. Not a welcome number of Martin Luther King day.
Federal Budget Deficit
The Federal budget deficit rose from -$458 billion in January 2009 to just under $1.10 trillion currently.
Federal Government Debt
Federal government debt held by the public grew 113% since March 2008, while real GDP growth grew at an anemic 2.57% over 4 1/2 years.
Over that time, The Federal Reserve dramatically increased its balance sheet as The Fed began purchasing more and more Federal debt. The biggest surge came during late 2008.
As a result of The Feds quantitative easing (and Europes continuing fiscal crisis), 30 year mortgage rates continue to fall.
Sadly, mortgage purchases applications remain in the red zone of slow growth despite historically low mortgage rates and affordability.*
Here is a chart of the Case-Shiller 20 metro house price index (gold), the Mortgage Bankers Association 30 year effective rate (green) and housing affordability (blue shaded area).
Case-Shiller 20 Metro index by itself shows the usual seasonal price increases and declines since January 2009.
The US economy and housing market remain fragile given that Q1 2013 real GDP is forecast to be only 1.50%.
Perhaps given the poor employment numbers, we should call the Obama Administration Sgt. Obammers Lonely Job Search Band.
The less jobs there are, the more dependent we are on his ever-expanding dole, soup lines or food stamps, etc.
Note this nearby thread:
Economic performance during Obama’s first term is just a shade under Reagan’s economic performance, and a bit better than the performance George W. Bush achieved. But, sadly, the sycophants in the press feel that Obama’s second term will not rise to quite the same level of excellence as his first.
Obviously this is the result of white obstructionists. /s
The fact is, Zero had no intention of putting anyone to work, creating jobs, or improving the US economy, and he never said he did — what he campaigned on was, raising taxes and vastly expanding government hiring. WTH did you think Obamacare is really about?
What makes you think the next 4 years will be any better?
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