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U.S. Jobs Five Years After Their Peak
| December 16, 2012
| Political Calculations
Posted on 12/16/2012 12:18:04 PM PST by Kaslin
We're going to look at the change in the U.S. employment situation since the total level of employment in the U.S. peaked five years ago in November 2007, but first, let's look at the change since October 2012.
Through November 2012, the U.S. employment situation for young adults Age 20-24 was good, for all older adults it was bad, and for teens, it was "meh".
Overall, some 6,000 more teens and 62,000 young adults than in October 2012 gained jobs, while some 190,000 fewer individuals Age 25 and older were counted as being employed. Doing the math, the net change in the number of jobs in the month from October 2012 to November 2012 came in for a loss of 122,000.
The total number of employed Americans fell by that number to 143,262,000 in November 2012, which is 3,333,000 less than the so-far all-time peak number of of 146,595,000 Americans who were counted as having jobs in November 2007.
The number of employed teens in the U.S. has declined from 5,927,000 in that month to 4,479,000 some five years later. Over this period of time, the number of young adults Age 20-24 with jobs has fallen by 405,000 from 14,001,000 to 13,596,000 and the number of older adults has fallen by 1,480,000 from 126,667,000 to 125,187,000.
Looking at the total decline in the number of employed Americans through November 2012, jobs lost by U.S. teens account for 43.4%, young adults for 12.2% and adults Age 25 and older account for 44.4% of all jobs that have disappeared from the U.S. economy over the last five years.
In November 2007, teens represented 4.0% of the entire U.S. workforce. In November 2012, teens account for just 3.1% of the reduced U.S. workforce. At this point, jobs that were most likely to have been held by teens are 14 times more likely to have been negatively affected by the employment situation over the past five years than their numbers among the entire U.S. workforce would suggest.
In retrospect, it seems that the U.S. Congress' action to boost the minimum wage by nearly 41% in three stages from 2007 through 2009 without doing anything to boost the revenues of teen employers by an appropriate percentage to compensate them for their higher costs of doing business during this period of time wasn't such a hot idea.
TOPICS: Business/Economy; Culture/Society; Editorial
posted on 12/16/2012 12:18:08 PM PST
“it seems that the U.S. Congress’ action to boost the minimum wage by nearly 41% in three stages from 2007 through 2009 without doing anything to boost the revenues of teen employers by an appropriate percentage to compensate them for their higher costs of doing business during this period of time wasn’t such a hot idea.”
You might find interest in this
Tuesday, November 13, 2012
As total unemployment rate surges, so does participation in the federal food stamps program.
As a logical consequence of the prolonged economic downturn it appears that participation in the federal food stamp program is on the rise. In fact, household participation has been climbing so steadily that it has far surpassed the last peak set as a result of the immediate fallout following hurricane Katrina.
you believe the value of our dollar will continue to be devalued by the
Fabian Fascists and their ILLEGAL Leader, the Arab-Kenyan, then
you believe that the value of gold and silver will only increase.
" ...the huge problems with debt we had in 1929-30 and today that we did not have in 1965.
This creates much more of a need for deflation today than in 1965.
The whole point of the Inflation Cycle is to move out of the Growth Cycle into the Rest Cycle.
The economy grows for 18 years and then rests for 18 years.
The Rest Cycle is just as important for the process as is the Growth or the Inflation Cycle.
Deflation Cycles need to
1) destroy debt;
2) move the country away from the speculative frenzy of the Inflation Cycle which favors the rich and special interests;
3) close the gap between the rich and the poor, so the country can avoid civil war;
4) raise interest rates to do all of these things, destroy debt and reward savers especially.
Easterling's point, in the second chart, is that stocks need to decline back to the green band at the bottom of the chart before another Bull Market can begin again.
I say this decline needs to be done by 2019, since geometry is the trump card in all of this.
... Any and every period of extended forced lower interest rates is inflationary because of what it does to the local currency, the US Dollar in our instance.
Dollar devaluation has been the policy of the Fed throughout most of the Inflation Cycle (and attempted Reflation Cycle -- which has been, in fact, the Disinflation Cycle).
More dollars circulated, even if just circulated between the banks and the US Treasury, via the Fed, reduces the value of the Dollar --
meaning that 'real' profits from stock gains are being diluted by low interest rates.That is why the Dow/Gold ratio makes sense to consider, since gold is a Dollar-Inverse indicator.
In this chart, the higher the price, the greater 'real' stock profits.
So, although the Deflation Cycle 1965-1983 looked minor, benign, costing the investor Time only, in terms of real profits in stocks, the period was catastrophic.
So, since 2001, real stock profits are being gored by a declining dollar.
Deflation Cycles often 'appear' to be sideways markets only -- a loss for investors of 18 years of potential profits
-- but when viewed through the prism of lower 'captive' interest rates, the decline in stock values since 2001 is also catastrophic, as the chart below demonstrates.
Note how this chart of stocks priced in gold corresponds almost perfectly to my Deflation and Inflation Cycles
(1911-1929 Inflation; 1929-1947 Deflation;1947-1965 Inflation; 1965-1983 Deflation; 1983-2001 Inflation; 2001-2019 Deflation).
Source - Michael J. Clark, Hanoi, Vietnam
Obama's nothing but an Arab-Kenyan, INTENTIONALLY destroying the United States.
You think the economy and unemployment is improving?
Listen to Obama's plan to steal our 401Ks, like Rush explained
" Okay, so to review this, these two sound bites, I just wanted to get them out there, Teresa Ghilarducci.
Here is the plan.
What she wants to do is take your 401(k) at the August 2008 level, whatever it was worth then,
that's what you are going to be given the equivalent of.That will be put in your Social Security account, and then the government, not you, is going to invest that money,
your Social Security plus whatever the amount of your 401(k) is,they're gonna invest that money that they take from your retirement account.
So the government is getting all of the money up front.
"We're gonna buy a government bond with what we take, that will guarantee you 3% plus inflation,
and then we will require that you put 5% of your pay into your 401(k) every year,
although it's not yours anymore, it's the government's."
What they're doing is eliminating the deduction. You don't get a tax break anymore.
The government is taking all the money and holding it at a promised 3% plus inflation return for your retirement.
And so whatever the amount of your Social Security was in August of 2008, added to your Social Security trust fund account,
whatever the hell that is when you retire,divided by whatever monthly is what you will end up with.
The reason they're doing this is because the tax deduction is costing the government $240 billion a year.
All the 401(k) holders combined are contributing $240 billion total to the 401(k),
government doesn't get that, and they need it now, see.
Government needs it. I mean, we got a real problem.
We got a fiscal cliff.
They need the money, not you.
So the original rule that you started your 401(k) is now being yanked out from underneath you.
And, see, whatever you have in your 401(k) now, you will keep. It's a tax break.
Everybody that has their 401(k) plan will be grandfathered in, but instead of getting a tax deduction
like a decrease in your taxes by whatever your tax rate is,then you're gonna get $600 a year.
This was four years ago, folks,
and now today two magazines have revised this,
and, by the way, the magazines just didn't out of thin air say,Somebody at the regime calls 'em and leaks it.
"You know what? Let's do a 401(k) story."
Okay, time to put this into play now.
So TIME is complying with the regime, and The Atlantic complying with the regime, and they're putting it in play now. "
posted on 12/16/2012 12:56:56 PM PST
(It's Simple ! Fight, ... or Die !)
It won't be just the 401(k)'s .... it'll be the Keough and IRA accounts, too. If they're going to take the political hit for seizing people's assets, they'll want it all.
That's what they did in Argentina.
If they cleaned out ALL the tax-advantaged retirement plans, including teachers' and Keoughs etc., the swag bag would be about $17 trillion. A reasonable down payment on what Ben Bernanke and Timmy Geithner will have to give Blankfein and Dimon and the rest to cover their credit default swap (CDS) losses via AIG, which are still being carried as assets so these guys can stay in business.
I’ll be time to use them bullets everyone’s been stock-pilling, too.
posted on 12/17/2012 1:14:03 PM PST
(It's Simple ! Fight, ... or Die !)
posted on 12/17/2012 1:16:03 PM PST
(It's Simple ! Fight, ... or Die !)
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