Posted on 06/05/2010 8:22:14 AM PDT by blam
Two Reasons Why You Shouldn't Bank On A Private Sector Jobs Rebound
Clemens Kownatzki
Jun. 5, 2010, 8:16 AM
The US employment report was the most anticipated economic info for the week. Non-farm payrolls rose by 431,000 in May, lower than the consensus forecast for a 540,000 rise, but at least the unemployment rate fell to 9.7%. As the Bureau of Labor Statistics reports: Total nonfarm payroll employment grew by 431,000 in May, reflecting the hiring of 411,000 temporary employees to work on Census 2010, the U.S. Bureau of Labor Statistics reported today. Private-sector employment changed little (+41,000). Manufacturing, temporary help services, and mining added jobs, while construction employment declined. The unemployment rate edged down to 9.7 percent.
In reality then, this is a rather gloomy employment report. Stripping the over 400,000 temporary jobs for the Census 2010, things haven’t really improved. The US needs to create about 150,000 new jobs each month just to keep up with the (still) growing demographics; so in real terms, this represents a net loss of jobs for the month of May. Looking ahead then, with several million new graduates entering the labor force this summer, employment still presents a major uphill battle for the US economy.
You may recall that we dissected the US Budget forecast earlier this year (Market Insights 6 February 2010). We were looking at the projected improvements in employment data, assumption of which many of the economic and fiscal forecasts were based upon. The chart below reflects those very optimistic views.
In keeping a positive attitude one could say that these employment improvements are still possible, particularly if enough incentives are provided for the private sector to hire again.
[snip]
(Excerpt) Read more at businessinsider.com ...
The costs of the stimulus, other government spending, and new regulations will be a lead weight on the private sector. Democrats have developed a vast new regulatory scheme and many tax increases that will erode capital formation. The explosion in government spending is not free. We have only see the gain side in government job creation and corporate welfare. The pain side is coming starting next year. There will be tremendous pressure to reduce government spending and increase taxes. Sectors such as education will be hit hard.
Just one reason will do it for me!
OBAMA!
OBAMA HATES the PRIVATE SECTOR and wants to ELIMINATE CAPITALISM. Any good Marxist would want that.
Everyone should see this chart
showing the American flight from private employment
Gee, I wonder why and when this happened ???
Anyone?
Anyone???
“Barack [Obama] and Hasan showed up at the house in a BMW, and then we went to a restaurant together,” Drew says. “We had a nice meal, and then we came back to the house and smoked cigarettes and drank and argued politics.”
For the next several hours, they discussed Marxism.
“He [Obama] was arguing a straightforward Marxist-Leninist class-struggle point of view, which anticipated that there would be a revolution of the working class, led by revolutionaries, who would overthrow the capitalist system and institute a new socialist government that would redistribute the wealth,” says Drew, who says he himself was then a Marxist.
“The idea was basically that wealthy people were exploiting others,” Drew says. “That this was the secret of their wealth, that they weren’t paying others enough for their work, and they were using and taking advantage of other people. He was convinced that a revolution would take place, and it would be a good thing.”
Drew concluded that Obama thought of himself as “part of an intelligent, radical vanguard that was leading the way towards this revolution and towards this new society.” ...”
Referring to Obama’s quote from “Dreams of My Father” that he associated with Marxist professors, Drew says, “What he’s not saying is that he was in 100 percent total agreement with those Marxist professors.
When you understand that, Obama’s later associations and policies make more sense, including why he was taken in by Rev. Wright’s ideology.”
Obama is not only a Marxist, he is delusional.
1. Barack
2. Obama
I would expect all of private industry to be in a survival mode waiting for the Obama induced dismal business climate to improve - the waiting game. That, as we all know, will not occur until Obama and his cronies are thrown out of office, either by election or impeachment, IMO.
To swing business around and return to full employment is quite simple - remove to the root causes of the problem, Obama and his socialist programs..
Ditto!
The Misery Index will keep getting higher and higher until Jan.20, 2013.
4 years of Hell.
Hope we can Change it back!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.