Skip to comments.Obama's Unemployment 'New Normal' Foretells A 'Lost Decade'
Posted on 01/14/2014 1:41:23 PM PST by Red in Blue PA
There was considerable weeping and gnashing of teeth over the December Employment Situation report released by the BLS on Friday. Analysts were expecting 200,000 new payroll jobs, but they got only 74,000. Some called the bad unemployment report a statistical anomaly.
A quick look at the BLS Household Survey showed that, rather than being bad, December was actually a better-than-average month in President Obamas new normal economy. This is not a huge accomplishment, given that Obamas new normal comprises slow GDP growth, a stagnant jobs market, and falling real household incomes.
However, the nation moved 133,000 jobs closer to full-time-equivalent* (FTE) full employment during December, while during the average month during Obamas so-called economic recovery, we moved 25,000 jobs farther away. So, December, as bad as it was in many respects, was better than average for Obama.
Since the economic recovery began 52 months ago, the headline U-3 unemployment rate has fallen from 9.5% to 6.7%. However, more than 100% of this decline was the result of 7.4 million potential workers fleeing the labor force. Adjusted to the labor force participation when George W. Bush left office, the unemployment rate has actually increased, from 9.7% to 10.9%, since the recovery began.
Heres another way to look at it. During the past 8 years, Americas working-age population has gone up by 19.3 million, while the number of full-time-equivalent* (FTE) jobs has increased by only 0.4 million. Can you say, lost decade?
(Excerpt) Read more at forbes.com ...
Obama has never held a productive job...
The entire concept of gainful employment is foreign to him.
We warned you America — anti-Americanism has a BIG price. And it is not over yet.
Obama was the beneficiary of Affirmative Action and a doting Leftist grandmother. He didn’t need to spend his youth learning to work as most of us did.
I know at least two people in my area that make ALL of their income selling things on eBay.
By the mid term elections Obma’s sycophants will be stating that we now have negative unemployment and we should open the borders. As if they weren’t open already.
and we want to legalize 11 million more new workers WHY exactly?
Russia and its satellites lost many decades. But they had the US and its allies fighting them. Who’s left to fight the statists once they take over the US?
LOST DECADE!! How about two lost generations?
We have an entire generation that the majority has never worked. And, we are selling the next generation into a black hole of slavery of massive debt.
And, if Iran goes nuclear:
We will loose millions, fighting a war that could have been prevented by a strong USA.
That “lost decade” will cost young people a lot, down the road. Even if you actually GET a job in some kind of future recovery, you start up the latter later, and you never make up for it. It’s a gift that keeps on giving.
You know what I mean - Stalin’s Russia.
“Whos left to fight the statists once they take over the US?”
Well, I heard we’ve always been at war with Eastasia.