Posted on 01/11/2014 7:15:49 AM PST by 2ndDivisionVet
Ed gave us the rather sobering numbers yesterday from the December jobs report. Those were some pretty brutal numbers no matter how you look at them, and they reinforce the fact that you have to look at a lot more than just the published federal unemployment rate to get the full picture. With that in mind, Andrew Malcom (the Prince of Twitter) and the rest of the editorial staff at Investors Business Daily have compiled a full set of employment statistics for the Obama administration, including historical comparisons to previous administrations, recessions and recoveries. If you thought things were bad, you’re right. But you might not have realized just how bad they are. Here’s just a sample.
6.3 million: Net new jobs created since Obama’s recovery started in June 2009
13.8 million: New jobs that would have been created had Obama’s kept pace with the average of the previous 10 recoveries.
3.6%: Growth in private jobs since Obama took office.
43%: Growth in the number of temp jobs.
91.8 million: Number of people not in the labor force as of December.
525,000: Increase since November.
11.2 million: Increase since Obama took office.
6.7%: Jobless rate 54 months into Obama’s recovery.
5.1%: Unemployment rate 54 months into George W. Bush’s “jobless” recovery.
13.1%: Jobless rate in Dec. using a broader measure — U6 — which includes people marginally attached to labor force or working part time for economic reasons.
9.2%: Average U6 rate in Bush’s eight years in office.
There’s plenty more, so you should steel yourself, have a seat and read the entire thing. One of the additional stats which is extremely important, but particularly dismal, is the drop in median household income. During the height of the recession from 2007 to 2009, household income dropped $1,006 annually, as you might expect during such a crisis. But during the “recovery” from then until now, how much did it bounce back? It dropped an additional $2,535 per household.
One reason this is so important is that Congress is getting ready to address the Democrat talking point of “income inequality” this year as the elections approach. As I’ve said before, this is one of the more clever bits of populist marketing that the Democrats have cooked up in a long time. But the reality of income inequality hides what should be a rather obvious truth. The “problem” in this country isn’t that we have too many rich people. The real crisis is that we have too many people who can’t get a decent job and miss out on the opportunity to climb the ladder. Obama has had more than a full term to turn things around, and yet his policies have led to increased poverty, not prosperity. Incomes are going down for the working class, not up. So if you want to fix “income inequality” in America, perhaps you should review the jobs data above and reconsider the policies leading to this unacceptable state of affairs.
And our Republican Congressmen want to take steps to what will essentially eliminate the border between Mexico and the U.S. Simply unbelievable.
Bookmark.
More bad news for Ill. economy: lowest job growth, highest property tax
Posted: Jan 10, 2014 8:51 PM CST Updated: Jan 11, 2014 8:59 AM CST
By Mike Flannery, FOX 32 News Political Editor - bioemail
More bad news for Ill. economy: lowest job growth, highest property tax
Posted: Jan 10, 2014 8:51 PM CST Updated: Jan 11, 2014 8:59 AM CST
By Mike Flannery, FOX 32 News Political Editor - bioemail
CHICAGO (FOX 32 News) -
A new national study predicts Illinois will have the worst job growth of all the states.
It’s a figure that sheds light on our state and city at the tipping point.
As of now, the study is predicting Illinois to be dead last, 50th out of 50 states.
The new study from Moody’s Analytics says Illinois will be the only state in the country where the total number of jobs will grow by less than one percent. The study comes on the heels of another study that business groups say explains the job forecast.
H. L. Mencken (born 1880 - died 1956) was a journalist, satirist, critic, and Democrat . He wrote this editorial while working for the Baltimore Evening Sun, which appeared in the July 26, 1920 edition.
"As democracy is perfected, the office of the President represents, more and more closely, the inner soul of the people. On some great and glorious day, the plain folks of the land will reach their heart's desire at last and the White House will be occupied by a downright fool and complete narcissistic moron."
- - - H. L. Mencken, The Baltimore Evening Sun, July 26, 1920
So it was written and so it has come to pass.
The Republicans should be happy to announce Obama’s 6.7% UE number means in not going to need to renew the already generous 99 weeks of UE payments.
That it was renewed 5 times in the past shows how compassionate the Republicans have been.
Now the best thing to do is rev up jobs with new government policies like.
Approve Keystone pipeline
Lower the corporate and Cap gains taxes to stimulate investing and corporate spending.
Pass a law for repatriation on offshore profits at a 5% tax rate.
cut regulations, and stop going after coal if they can produce clean coal power.
OK new power plants using Nuclear power. Most of Europe has been using it safely for 40 years.
The entitlement army is in control (at least for POTUS elections) for the forseeable future. In 2012 the Democrats used jiu-jitsu to convert a Jimmy Carter economy into an election victory.
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