Posted on 12/02/2016 10:30:27 AM PST by Kaslin
As the media begins to draw a pretty picture about the November jobs report, namely that unemployment has dropped to 4.6 percent, its lowest level in nine years, they are unlikely to tell you the other part of the story. The labor force participation rate continues to decline and is stuck at a rate we haven't seen since February 1978, according to the Bureau of Labor Statistics.
It gets worse. Last month, we lost 4,000 manufacturing jobs, offering more damage to the already 301,000 we've lost since President Obama took office. The Republican National Committee says that is going to change under President-elect Donald Trump, who has already brought 1,000 of those manufacturing jobs back.
“The 4,000 manufacturing jobs that disappeared last month come on top of the over 300,000 that have been lost under President Obama, more proof that President-elect Donald Trump’s efforts to stand up for the American worker is the commitment our country needs right now,” said RNC Co-Chair Sharon Day in a statement on Friday. “This election showed that millions of Americans don’t trust Democrats to create good jobs and opportunity, and President-elect Trump’s determination to save 1,000 jobs in Indiana is just a preview of his agenda of prosperity for all. Even before taking office, President-elect Trump has proven that protecting and creating jobs will be among his highest priorities as president, and Americans who have spent years struggling under President Obama can look forward to a brighter future for themselves and their families.”
Just for giggles, here's a flashback of Obama mocking Trump for needing a miracle to keep Carrier jobs in the U.S.
His followers thought he meant hope for them.
He meant his hope, a hope to destroy the U.S. and it's global influence.
The idiot didn't realize the magical power of this nation, always a lot more connected to the one true God.
Obama, who had hoped to be the man to get credit for single-handedly bringing down the U.S., will be only a small asterisk on the ass end of history.
The man who replaced him, will strike down all that he put in place to destroy us. He will be seen as the most remarkable president in our nation's history.
I say things like that last statement, and I believe it to be true. The potential is there, and so far this guy has not disappointed. We shall see.
There is very little limit to what Trump can do.
He's been given the keys to the kingdom at a time when he is very much needed. Lets pray for the best.
Presenting Pee Wee Herman’s impression of the Obama presidency, accompanied by a crowd playing the part of Democrats in the U.S.
Take a look. There’s out happy go lucky president, so pleased with himself.
https://www.youtube.com/watch?v=BodXwAYeTfM
The labor participation rate is an inexact metric, because it includes people that have retired and left the workforce voluntarily.
However, the metric that you want is already calculated. It's just not widely reported:
U-6: Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force
With seasonal adjustments, U-6 was 9.3% in November. The history since 1994:
http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2016
Compare that to the history of U-3 (the usual number cited) for the same period:
http://portalseven.com/employment/unemployment_rate.jsp?fromYear=1994&toYear=2016
I don’t think manufacturing will decline under Trump. For one, he’s committed to bring back or letting the economy create these jobs. Secondly, manufacturing is at such a low point, that it will be relatively easy to stop the slide and reverse it.
Really, it’s absolutely necessary to national survival that Americans are able to acquire and retain the skills to be able make goods.
Manufacturing employment is a whole different story, and I think it's safe to say that this will decline under Trump just as it has been in a steady decline since 1979.
This isn’t going to stop. Automation is killing manufacturing jobs more than anything else. There’s a reason why manufacturing OUTPUT is so high while manufacturing employment keeps dropping. And that reason ain’t globalism, and it ain’t a dumb president. It’s technology, and that genie is not going back in the bottle. Heck look at the Carrier deal, they’re modernizing the plants and still getting rid of most of the workers. Next gen manufacturing doesn’t save many jobs.
“I wish Trump would “reset” the way our unemployment numbers are calculated. No more manipulation of the numbers by reducing the labor participation rate. Let’s move away from the Obama spin and use real numbers.”
If you don’t like the “headline” unemployment rate (U-3) put out by the BLS, you can urge OAN, Fox, or your favorite media outlet to report one or all of the other five unemployment rates provided each month:
http://www.bls.gov/news.release/empsit.t15.htm
Technology in farming, mining, manufacturing,etc; is a natural progression. Jobs will be lost due to tech, but the outsourcing/relocation of factories to Mexico in the ‘80’s and China in the 90’s had nothing to do with automation.
And yet they’re losing manufacturing jobs too. EVERYBODY is losing manufacturing jobs. Tech is the primary driver. Yes things move to other countries for various reasons, one of them being a lack of unions forcing them to employ people they don’t actually need. But the real job bleed is just not needing people to make things anymore. Again, look at the Carrier deal, more than half those jobs are still going away, some are going to Mexico, a lot are just evaporating.
First, President Trump must direct the use of the measurement standards for inflation, unemployment, labor participation rates from 1984-5 ( the Reagan years). This will do several things Americans need to know:
1. The actual unemployment rates with numbers that are not cooked for political gain.
2. The actual labor participation rates for the reason above.
3. Use the 84-85 formula for inflation to baseline the economy to the first year of the Obama Presidency.
4. Use the baseline inflation number from 2008 to allow a true adjusted inflation rate for the last eight years. Include this new adjusted rate into the first Trump Budget to bring Soc. Sec. U.S. Military retirement rates, etc up to date with current real numbers.
5. This will be a large expense, but coupled with a border wall, cutting off Federal funds to illegals, sanctuary cities, deporting illegals, deporting those who have overstayed visas, etc. Proper funding should be available to catch up these fixed income citizens for the Obama abuses due to made up political reports.
Good deal. Then I am in favor of Trump hitting the “reset” button by his administration only using the more acurate numbers. They can explain why they don’t use the phony numbers and it will hopefully begin to stick.
>0bama even looks like as if he is proud of his accomplishment to have lost hundreds of thousands of manufacturing jobs
Looks? It’s a resume enhancer for his party.
Unfort., there will be NO ‘return’ until govt is REDUCED if not removed entirely (A1S8). Worse, I don’t see the (R) pushing anything of the sort.
Don`t forget that Obama took office at the height of the recession. He inhereted a lower baseline. So these manufacturing job loss numbers don`t include those that were lost from the recession and never came back. During a normal economic downturn, much of the job loss is temporary and returns during the recovery.
“bring Soc. Sec. U.S. Military retirement rates, etc up to date with current real numbers.”
I like the way you think. /geezer
Let’s say Trump did offer 7 million in tax breaks for Carrier to keep a plant in the US.
Still pales to the billions to Solyndra and other solar companies that went bankrupt without any investigation of where the money went in 2008, 2009 that is Obama’s fault.
I think both manufacturing and manufacturing employment will increase. I appreciate the distinction but I believe that without that statist foot on the neck of the economy and the manufacturing sector, that we’ll need more manufacturing workers.
Obama was always the madman driving the train off the cliff.
American liberals were always too stupid to see that. It was stunning to watch them spin and lie to cover for Obama’s spin and lies. A perfect setup for “the” Strong Delusion. It was truly scary to behold. It was (still IS) like a cult; followers of Hitler and such. Unbelievable to experience and definitely scary. They are totally-disconnected from reality.
It’s not just manufacturing jobs that are destroyed by globalism
GLOBALISM IS WAR ON SMALL BUSINESS.
That means it is war on entrepreneurs, and war on the legions of well-rounded managers (owners and employees) that used to be employed in millions of small businesses.
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