Skip to comments.At This Rate, It Will Take 28 Years To Get Everyone Back To Work
Posted on 03/10/2014 7:07:49 AM PDT by SeekAndFind
From a jobs perspective, the economy treaded water in February. We didn't drown in unemployment, but nor did we manage to swim closer to the prosperity shore. It was a "blah" month, in the midst of the worst economic recovery in American history.
Full-time-equivalent* (FTE) jobs increased by 147,000, thanks mostly to a large decline in the number of part-time workers. This was enough to move the nation 45,000 FTE jobs closer to full employment. While this was better than average for a month in President Obama's so-called "economic recovery" (America is 2.2 million FTE jobs farther away from full employment now than it was in June 2009), it's not great. At this rate, it would take us almost 28 years to get everyone back to work.
It was extremely significant that labor force participation continued to move up during February, after its big surge in January. This confirmed that allowing extended unemployment benefits to expire in late December was the right thing to do.
Progressives predicted that limiting unemployment benefits would cause people to drop out of the labor force, but the exact opposite occurred. It turns out that people respond to incentives. Who knew?
February's employment numbers also lent support to the theory that the Federal Reserve's quantitative easing produces the opposite effect of what the Fed intends and expects. The Fed increased the size of the monetary base by eight times as much in February as it did in January ($102.3 billion vs. $12.7 billion), and the rise in FTE jobs slowed from 678,000 to 147,000.
The financial markets appear to have figured out that quantitative easing has been a bad thing for the economy. The stock market has continued to make new highs in spite of (really, because of) the Fed's determination to "taper."
(Excerpt) Read more at realclearmarkets.com ...
Obama&Co understand long term destruction it’s all for the good of socialism.
And here’s what President Obama had to say about this.
At the rate of taxation increases and regulations removing business from this country it won’t matter or happen in 28 years.
Great, when I finally DO get another job it’ll be time to retire!
It seems to me that getting people back to work is the opposite of what the left is touting as a virtue.
Non-work, to them, is “freedom”. Having to work to support yourself is “slabery”.
True the taxers are clueless.
Or one really big war—A new World War would see a return to draft—American Manufacturing, (China’s ships will be in Davy Jones Locker) No Communication overseas, Border guarded due to Enemy spies and sabotieurs.
You’re probably right, but think about a Draft. You think all those inner-city Democrat kids are going to report for duty with the Infantry? How about all those inner-city Democrat women? You think they’ll sacrifice for the cause? The Democrats don’t even like their own country.
They will be indoctronated with a Patriotic zeal—The inner city kids will be the first to join in a real war against a real foe—especially if the enemy takes out a few American Cities. They will serve well, die well on the beaches, and comeback, those who do—better people. When given a choice—Fight or no more America as we know it—they will fight—even Democrats will fight. Did Joe Kennedy fight in WW II? Did John? This will be a war we might Not win. This will not be a Vietnam/Iraq/ sort of war—this will be total war.
I think that too much has changed in this country since WWII to expect that same response.
Interesting concept. How will the majority react to a draft and will feminists fight for the right to be drafted? Oohrah!