Archive for Jobs

From Race Baiter to Race Hater

If “only Nixon could go to China”, then only Obama could screw the blacks:

A top civil rights advocate is warning President Obama that extending executive amnesty to millions of illegal aliens will deeply harm black workers.

By what line of reasoning did he come to this conclusion?

As Hillary Clinton would say, “arithmetic”:

Peter Kirsanow, as U.S. Civil Rights Commissioner, says in an Oct. 27 letter to Obama and the Congressional Black Caucus that U.S. Citizenship and Immigration Services’ recently revealed preparations for a huge ID “surge” upped his alarm over what the president has planned.

“Granting work authorization to millions of illegal immigrants will devastate the black community, which is already struggling in the wake of the recession that began in 2007 and the subsequent years of malaise,” he explained.

“Illegal immigration has a disparate impact on African-American men, because these men are disproportionately represented in the low-skilled labor force,” Kirsanow added.

People twist themselves into human Twizzlers trying to explain why black unemployment is twice the national average. What if it’s as easy as 1,2,3?

“Since 1986, we have seen that granting legal status to illegal immigrants, or even mere rumors that legal status will be granted, increases illegal immigration. Likewise, the evidence indicates that the flood of illegal immigrants across our southern border is mostly attributable to your directive granting temporary legal status to people allegedly brought to the United States as children. This is unsurprising. When you incentivize bad behavior, you get more of it,” he wrote.

It’s as if Obama is saying to African Americans, don’t worry about jobs, that’s why we have welfare. And the projects. And jails. Three hots and a cot—what are you bitching about? When you get more than 100% of the black vote (counting rampant Democrat voter fraud), you don’t need to buy them off any further.

Obama may be toxic to Democrats in 2014, but they’ll be sending him flowers come 2016, when 30 million ex-criminal aliens go to the polls. The rest of us will be going to New Zealand.

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Jobs, Jobs, Jobs! [UPDATED]

Woo-hoo! Almost 250k new jobs! Unemployment below 6% for the first time in six years! Drinks on the house!

Make mine a whiskey…sour:

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 3.0 million in September. These individuals accounted for 31.9 percent of the unemployed. Over the past 12 months, the number of long-term unemployed is down by 1.2 million.

The civilian labor force participation rate, at 62.7 percent, changed little in September. The employment-population ratio was 59.0 percent for the fourth consecutive month.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.

In September, 2.2 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.

There’s good news here—a quarter-million jobs is a quarter million jobs—but the truth of the numbers is that three million people—almost a third of all unemployed—have been jobless for more than six months. If I read the language right, 2.2 million of those have been jobless for at least a year. Another 7.1 million can’t find full-time work.

Excuse me if I’m not persuaded by more than ten million Americans who haven’t been able to find a better job, or any job at all, for months. And that the numbers are “essentially unchanged” from other recent miserable reports. Excuse me if I find dropping unemployment poor compensation for a historically bottom-scraping civilian labor force participation rate and employment-population ratio.

An unemployment rate of 5.9% may seem a return to normalcy, but this is a fundamentally changed America. Legions of workers have drifted into the shadows, never to return. Once, they helped push the cart; today, through no fault of their own, they’re along for ride. Sorry to be the cloud in your silver lining.

UPDATE
Zero Hedge make this Oscar the Grouch sound like Elmo:

[W]hile according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!

And I hope you’re ready for this:

The further one digs into today’s “blockbuster” jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the US workforce is bleak. In fact, with the age of the median employed male now in their mid-40’s, the US workforce has never been older. Case in point: the September data confimed that the whopping surge in jobs… was thanks to your “grandparents” those in the 55-69 age group, which comprised the vast majority of the job additions in the month, at a whopping 230K.This was the biggest monthly jobs increase in the 55 and over age group since February!

What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs.

But don’t let this spoil Barack’s big day!

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Jobbed and Jobless

Jane Austen’s novel of bad manners on the state of Americans under the burdens of ObamaCare:

On Thursday the Federal Reserve Bank of Philadelphia reported the results of a special business survey on the Affordable Care Act and its influence on employment, compensation and benefits. Liberals claim ObamaCare is of little consequence to jobs, but the Philly Fed went to the source and asked employers qualitative questions about how they are responding in practice.

The bank reports that 78.8% of businesses in the district have made no change to the number of workers they employ as the specific result of ObamaCare and 3% are hiring more. More troubling, 18.2% are cutting jobs and employees. Some 18% shifted the composition of their workforce to a higher proportion of part-time labor. And 88.2% of the roughly half of businesses that modified their health plans as a result of ObamaCare passed along the costs through increasing the employee contribution to premiums, an effective cut in wages.

Those results are consistent with a New York Fed survey, also out this week, that asked “How, if at all, are you changing (or have you changed) any of the following because of the effects that the ACA is having on your business?” For “number of workers you employ,” 21% of Empire State manufacturers and 16.9% of service firms answered “reducing.”

To complete the triptych, an Atlanta Fed poll earlier this month found that 34% of businesses planned to hire more part-time workers than in the past, mostly because of a rise in the relative costs of their full-time colleagues. ObamaCare may be contributing to that surge to the extent the law’s insurance mandates and taxes increase spending on fringe benefits for people who work more than 30 hours.

Somewhere between one-fifth and one-third of employers are cutting hours for their employees. The Left likes to think of itself as fact-based and scientific. But ObamaCare was built on the promise of sugar plums and unicorns. Define full time workers at 30 hours a week, and that’s what you’ll get, an army of 29-hour a week workers without health care. The Soviet Union learned that a command economy doesn’t work. Now we don’t work.

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“It’s Essentially Unchanged!”™

It’s that time again: time for the weak, tepid cup of tea masquerading as the US economy.

Both the unemployment rate (6.2 percent) and the number of unemployed persons (9.7 million) changed little in July. [Changed little, but changed for the worse.]

[T]he unemployment rate for adult women increased to 5.7 percent and the rate for blacks edged up to 11.4 percent in July, following declines for both groups in the prior month. The rates for adult men (5.7 percent), teenagers (20.2 percent), whites (5.3 percent), and Hispanics (7.8 percent) showed little or no change in July. The jobless rate for Asians was 4.5 percent (not seasonally adjusted), little changed from a year earlier.

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 3.2 million in July. These individuals accounted for 32.9 percent of the unemployed.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 7.5 million, was unchanged in July. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

The civilian labor force participation rate, at 62.9 percent, changed little in July. The participation rate has been essentially unchanged since April. The employment-population ratio, at 59.0 percent, was unchanged over the month….

You all know what a fan I am of the labor force participation rate. Nothing so clearly demonstrates the economic cataract of job loss under Obama:

He “inherited” a tough economy, but one that had routinely turned in a 66% participation rate. Now, he dreams of getting back to 63%. Oh, and note that the “recovery” [chortle] began in June 2009, just as the rate plummeted down a triple black diamond slope. Five years of such recovery and we’re barely “little changed”, “changed little”, “unchanged”, or “essentially unchanged”.

And I thought the jobs report was supposed to be good news.

Guess not:

The Dow fell 70 points Friday on what turned out to be a volatile day of trading.

The blue chip index finished the week lower and is now down for the year following Thursday’s 317-point drop.

Employers added 209,000 jobs in July. That was well shy of the 288,000 jobs that were created in June and below the gain of 230,000 jobs predicted by economists polled by CNNMoney.

The weaker-than-expected jobs report could ease fears on Wall Street that the Federal Reserve will hike interest rates early next year.

The government said the unemployment rate ticked up to 6.2% from 6.1%.

“The employment data was not too hot, not too cold. It was just about right…

Thanks, Goldilocks. I said at the top the economy was tepid tea, but I stand corrected. It’s porridge.

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The Democrat’s War On African Americans

I’m back in town now, enjoying the beautiful New England weather, but still struggling a bit with jet lag. I do have a question though – Why do democrats hate African Americans? I mean why do they insist on bringing in hundreds of thousands of illegals, many of whom will do the low-skill work that many people in minority communities do today? Have they not noticed that the unemployment rate among African Americans is about twice what it is among whites? Isn’t this cruel?

Honestly, why would our first African American President be so damn hard on the African American community?

– Aggie

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BREAKING: ObamaCare Hurts Economy, Workers

Who could have seen this coming?

[U]nlike Settles’s other experiments, this one hasn’t been great for his business. He put raises and expansion plans on hold as he figured out the cost and logistics of making the changes. To his surprise, his employees have not leaped at the chance to get health insurance. And he is still trying to figure some things out — for example, how to safeguard employee information that must now be reported to the Internal Revenue Service, such as the Social Security numbers of children who are covered under their parents’ health plans.

“We don’t want to be liable for that,” he said. “What if we get hacked?”

In recent weeks, criticism of the Affordable Care Act’s employer mandate — one of the law’s most controversial components — has intensified, as employers such as Settles complain publicly and even some Obama administration allies acknowledge that the mandate has harmed some workers.

A number of businesses, including Regal Entertainment and SeaWorld, have reduced hours for part-time workers to fewer than 30 a week — the law’s definition of full time — to avoid having to offer them health insurance. Other companies say they are holding back on hiring to avoid the insurance requirement. Seasonal employees and low-wage workers, such as adjunct professors and cafeteria staffers, have been hit especially hard.

You’ll pardon Aggie and me, I hope, for laughing at Democrat stalwarts, “low-wage workers”, as the “law of the land” targets their asses. It’s more than we could have hoped for.

Did I say “law of the land”? Hardly:

“We’ve never thought [the employer mandate] was particularly good policy, and while people have probably screamed too loudly about the effects on employment, there is some of it that’s certainly true, and it’s not worth the price we seem to be paying,” said John Holahan, a fellow at the Urban Institute and a co-author of the recent paper “Why Not Just Eliminate the Employer Mandate?”

Am I the only one troubled by the concept of an optional mandate? It’s like asking your calculator to divide by zero. And the media pretend to discover these collateral damages as if they weren’t there all along.

See you in November.

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Another Depressing Report On Obama’s Base [Update]

From time to time, we provide an overview of how various parts of Obama’s base voters have fared under his policies. African Americans? Not so hot? Women? Meh. Youth?

In President Obama’s speeches this year, a steady theme has been creating jobs and economic opportunity for Americans. In his State of the Union address in January he said that “what I believe unites the people of this nation . . . is the simple, profound belief in opportunity for all—the notion that if you work hard and take responsibility, you can get ahead.” And in his weekly address on Saturday, he repeated his strong appeal to young people: “As long as I hold this office, I’ll keep fighting to give more young people the chance to earn their own piece of the American Dream.”

Yet during the more than five years Mr. Obama has been in office, young people have been especially hard-hit by the slow and virtually jobless recovery. Given the destructive effect this has on individual initiative and the prospects of a productive and rewarding working life, the continuing struggle of young Americans to find jobs, start building families and contribute to society is no longer simply a matter of politics or policy. On a deeply human level, it’s profoundly sad.

Consider these grim employment numbers:

• In February the Bureau of Labor Statistics (BLS) recorded the lowest percentage of 16- to 19-year-olds working or actively looking for work (32.9%) since the bureau started tracking the data in 1948. The BLS recorded the second-lowest labor-participation rate for this group in April (33.2%) and the third-lowest in January (33.3%). May’s rate was the sixth lowest (33.8%).

• Over the past two years, the BLS has recorded some of the worst labor participation rates for 20- to 24-year-olds since 1973, when the Vietnam War was beginning to wind down. In August 2012, the 69.7% rate was the lowest since ’73. The second-lowest (70%) came in March last year. This year, the third-lowest rate came in April (70.2%). May’s rate was a still-miserable 71%.

• Looking at the seasonally unadjusted data—which is what the BLS makes publicly available—for 25- to 29-year-olds, the April 2014 labor-participation rate was the lowest the BLS has recorded since it started tracking the data in 1982 (79.8%). May’s rate was the second-lowest (79.9%). January, February and March tied with the fourth-lowest (80.3%).

These disturbing numbers raise a simple question: Where are the entry-level jobs?

Hmm? Where are the entry level jobs? On top of the refrigerator? That’s where my husband sometimes stores his reading glasses. Are they in the back seat of the car?

Five years of 2% average yearly GDP growth simply doesn’t produce enough jobs to absorb the natural increase in the labor force, and over the past eight quarters GDP growth has averaged only 1.7%. Between May 2008 and May 2014, BLS data show that the employable population increased by 14,217,000 while the number of people employed actually decreased by 94,000 and the number of people unemployed increased by 1,404,000. It remains a bad time for young people to be looking for jobs.

A bad time for young people to be looking for jobs? Maybe their parents should have timed thing a little better. These kids are obviously coming of age in a bad time.

Oh well. Maybe Obama has a scheme to make them all into trust fund babies? There’s more at the link, if you’re worried about this.

Update: Half of college grads still living off parents

Two years out of college, half of graduates are relying on their parents or other family members for some sort of financial help, according to research from the University of Arizona. The study tracked more than 1,000 of its students over the course of five years — from when they entered college in 2007 to 2013.

“These people started college during the boom period, then the market fell apart and they came out of college into a very different environment,” said Ted Beck, president of the National Endowment for Financial Education, which helped sponsor the research.

Now, the purpose of this article is to explain to you, Buck and to you, BTL, and to me, Aggie, exactly why we have to pay off the college loans of total strangers. Which is coming, as you know. And there’s damn little to be done about it, because the same people who voted Obama in – twice – are the “folks” who will raid our wallets.

– Aggie

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Black Man Keeping the Young Down

No, that’s not dyslexia or a typo:

In President Obama’s speeches this year, a steady theme has been creating jobs and economic opportunity for Americans. In his State of the Union address in January he said that “what I believe unites the people of this nation . . . is the simple, profound belief in opportunity for all—the notion that if you work hard and take responsibility, you can get ahead.” And in his weekly address on Saturday, he repeated his strong appeal to young people: “As long as I hold this office, I’ll keep fighting to give more young people the chance to earn their own piece of the American Dream.”

Yet during the more than five years Mr. Obama has been in office, young people have been especially hard-hit by the slow and virtually jobless recovery. Given the destructive effect this has on individual initiative and the prospects of a productive and rewarding working life, the continuing struggle of young Americans to find jobs, start building families and contribute to society is no longer simply a matter of politics or policy. On a deeply human level, it’s profoundly sad.

Yeah, but parents’ basements have never been put to more use! Sorry, out of place.

Where are the entry-level jobs?

Five years of 2% average yearly GDP growth simply doesn’t produce enough jobs to absorb the natural increase in the labor force, and over the past eight quarters GDP growth has averaged only 1.7%. Between May 2008 and May 2014, BLS data show that the employable population increased by 14,217,000 while the number of people employed actually decreased by 94,000 and the number of people unemployed increased by 1,404,000. It remains a bad time for young people to be looking for jobs.

We noted the same point yesterday: the media may herald the recovery to the number of jobs pre-recession, but we’re fourteen million people bigger than we were then. Where are their jobs?

Nonetheless, various states and municipalities have increased their minimum wage, thereby increasing the cost of employing inexperienced workers. Minimum-wage jobs have always been a gateway to better opportunities. In making hiring decisions, businesses must weigh the quality and value of work that entry-level employees produce against the cost of employing them. For many businesses in high-minimum-wage states or municipalities—Seattle leads the list, having approved a move to a $15 minimum wage—that trade-off is no longer working.

The bottom line on labor: Make something less expensive and businesses will use more of it. Make something more expensive and businesses will use less of it. The Congressional Budget Office has forecast a loss of 500,000 jobs should the president’s proposal to increase the federal minimum wage to $10.10 an hour become law.

The CBO also forecast that this increase would lift a number of people who already have jobs above the poverty threshold. For 500,000 unemployed people, however, that’s 500,000 opportunities American businesses will never create.

Don’t get this guy started on ObamaCare. Talk about a job killer. In fact, looking at Obama’s policies, you’d almost think he was killing the job market on purpose. Perhaps to capture a permanent class of dependents. He couldn’t be doing a better job (fortunate as he is—and unfortunate for us—to have one).

I think more than a few young people would be happier to graze on ol’ Obama’s farm than work like this:

I’m not speaking primarily as a business CEO. My company will adjust to new laws. I’m speaking as someone from a working-class family. I started work scooping ice cream for the minimum wage at Baskin-Robbins. To put myself through college and law school while supporting my family, I cut lawns, painted houses and busted concrete with a jackhammer. I know how important these jobs are. For one thing, they taught me—as no lectures from my parents ever could—that I needed a good education so I wouldn’t have to settle for low-paying work the rest of my life. Too many young people today are being deprived of even that basic lesson.

For which they give great thanks!

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Party Like It’s 2008!

We’ve “recovered” all the jobs lost in the “Great Recession”! Hooray!!

The U.S. economy has regained all of the jobs lost during the Great Recession. The economy added 217,000 jobs were added in May, with the unemployment rate holding steady at 6.3%. The recovery has been the slowest in U.S. history and most of the new jobs are not paying as much as the jobs that were lost. Still, unemployment in America is at its lowest level since September 2008.

So what if the population has grown by 14,000,000 people in the interim? Most of them are still in short pants. We’ve essentially added the combined population of Maine, New Hampshire, Rhode Island, Montana, Delaware, South Dakota, and Alaska (Obama’s 57 states now makes sense!)—but they’re all on welfare. Let’s celebrate!

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It’s Unexpected!™ Again.

Dudes, that was like a week ago. Get over it.

More Americans than projected filed applications for unemployment benefits last week, while total benefit rolls reached the lowest since December 2007, signs the U.S. job market may take time to show a sustained acceleration.

Jobless claims increased by 28,000 to 326,000 in the week ended May 17, after 298,000 filings a week earlier that were higher than initially reported, Labor Department figures showed today in Washington. The median forecast of 50 economists surveyed by Bloomberg called for a rise to 310,000. Continuing claims decreased for a third consecutive week.

A steady decline in firings is needed for employers to boost hiring and eventually raise wages that would spur consumer spending, which accounts for about 70 percent of the economy. Federal Reserve policy makers expect the job market will show further gradual improvement, according to minutes of their April meeting released yesterday.

What if Bush had presided over this national disaster? Bozos.

– Aggie

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“A Tragic Era Of Lost Opportunity And Unrealized Potential”

Break out the handkerchiefs

I must confess, I do feel sorry for these young adults, sorrier even for the elders who will be dependent upon their contributions to our old age, but how could they possibly have been this stupid – twice???

The great irony of the Obama era is that the President’s base voters have disproportionately suffered from a sputtering economy, while the wealthy that Mr. Obama likes to criticize have enjoyed a booming stock market. A new study shows just how difficult this era has been for some of the President’s most loyal supporters.

Researchers at the Center for Economic and Policy Research, a left-leaning think tank, find that “The Great Recession has been hard on all recent college graduates, but it has been even harder on black recent graduates.”

In 2013, the unemployment rate for black college graduates ages 22-27 was a full 12.4%, more than double the 5.6% rate for all college grads in the same age range.

And for those African-American recent grads who did have jobs in 2013, study authors Janelle Jones and John Schmitt find that a staggering 56% were underemployed, meaning they were doing jobs that typically don’t require a four-year college degree. This compares to 45% underemployment among all recent graduates. For youngsters of all colors, these statistics describe a tragic era of lost opportunity and unrealized potential.

Even a career-friendly course of study isn’t protecting young graduates from the ravages of this historically slow recovery. The authors report that “for the years 2010 to 2012, among black recent graduates with degrees in engineering, the average unemployment rate was 10 percent and the underemployment rate was 32 percent.” Among all recent grads with engineering degrees, the average unemployment rate in those years was 6%, while 22% were underemployed.

This is what the children of my friends and acquaintances seem to be doing: They are remaining in college or grad school for as long as possible. But, sooner or later, once has to take that adjunct professor job(s) or put on the barista uniform. And just this morning I reminisced about the period when we were finishing school. Someone I know very well was having trouble getting an engineering job and his wife was about to give birth. He briefly considered running for Mayor of NYC on the Give Joe A Job, He’s The Only Candidate That Needs It platform, but was saved by the bell two week before k-day (Kid Day). Carter gave us a miserable economy too. But this time there is no excuse.

– Aggie

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Sequester Fester

Wasn’t the sequester supposed to be the greatest threat to humankind not called climate change?

I hope you’re sitting down:

Despite doomsday warnings from the White House and lawmakers on both sides that hundreds of thousands would lose their jobs as a result of the sequester, it turns out the budget cuts have only led to one job being lost among 23 federal agencies.

Now Sen. Tom Coburn, R-Okla., is demanding answers as to why the Obama administration repeatedly warned taxpayers that the $85.3 billion in spending cuts, which went into effect in March 2013, would threaten hundreds of thousands of jobs. The findings were revealed in a government watchdog report.

The report is a stark contrast from the dire predictions from the Obama administration and Democratic leadership, who blamed Republicans for the cuts.

In a memo released before the sequester cuts went into effect, the White House claimed they “threaten hundreds of thousands of middle class jobs.” In a speech at the White House that February, President Obama repeated those claims.

“These cuts are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of Americans to the unemployment rolls,” he said. “This is not an abstraction. People will lose their jobs.”

Senate Majority Leader Harry Reid upped the doomsday rhetoric in July, according to the Washington Post, saying on the Senate floor over a million jobs were already lost.

“We have learned that the sequestration already has cut 1.6 million jobs. So we need job creation. We need to help the middle class by creating jobs,” he said.

Team Obama knows what to do when caught in a lie: double down.

In response, OMB spokesman Steve Posner said in a statement to FoxNews.com there is “no question” the sequestration has had an negative impact on Americans, pointing out the report also states that employees had their hours reduced and agencies were forced to curtail hiring as a result of the cuts, among other examples.

“GAO itself notes that many of the flexibilities used to mitigate the effects of sequestration in 2013 may not be available in future years, suggesting that the impacts would be even worse if sequestration is allowed to occur in future years,” he said.

In other words, you got off easy, America. This time.

PS: Harry Reid actually said that—1.6 million people had been canned? More proof that no one listens to that wizened little turd.

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