Posts Tagged ‘Bureau of Labor Statistics’

You Call It ‘Obamanomics,’ I Call It ‘The Jobs Holocaust’

July 12, 2011

Quote:

The total number of people who were truly unemployed in June was 25.3  million.

And man that sucks (with “sucks” meaning, “swallowing everything in its path,” like a black hole of doom).

Real Unemployment Rises to 16.2% in June — 25.3 Million People
Friday, July 08, 2011
By Matt Cover

(CNSNews.com) – The real unemployment rate rose to 16.2 percent in June, the Bureau of Labor Statistics (BLS) reported on Friday, marking a return to levels not seen since January 2011.

The “real” unemployment rate is technically a combination of three measures of unemployment: the unemployment rate, the number of people working part-time who want full-time work, and the number of people “marginally attached” to the workforce.

Those who have left the workforce but would still like to be employed are considered marginally attached.

This figure is considered a more complete measure of unemployment because it captures a broader spectrum of those affected by the weak economy. Merely counting those who apply for unemployment benefits as “unemployed” does not fully account for everyone who is out of work or underemployed.

This real unemployment rate – known as the U6 rate – has been climbing since February 2011 when it was at 15.9 percent. Real unemployment peaked in October of 2009 at 17.4 percent, before falling into the 16 percent range for much of 2010.

It now appears that the real unemployment rate is returning to its 2010 levels, trending upward after staying slightly below 16 percent from February to May.

The total number of people who were truly unemployed in June was 25.3 million — the 14.1 million who were unemployed, the 2.7 million who were marginally attached to the workforce and the 8.6 million who were underemployed.

Here’s an official statistic from the BLS for all of you “Bush-blamers”:

 

Oh, yeah, that Bush was a real job murderer, he was.  Good thing we’ve got Obama now righting all those Bush wrongs.

The problem is that Obama isn’t “right” about ANYTHING.  Which leaves the American people pretty much screwed.

Understand something: the Obama administration assurred us that his $3.27 TRILLION stimulus boondoggle would have unemployment down to 6.5% by now.  But rather than acknowledging that Keynesian economics just dug its own grave, hopped in, and covered itself up with dirt where it should remain for all eternity, we are instead met with statements of fanatic religious faith that “the stimulus saved us from a depression.”

This from the same bunch of geniuses who damn Bush for his overall 5.26% unemployment rate and absolving Obama for his 9.3% unemployment average during his three years to date.

5.26%.  Bill Clinton paved the streets with gold, we are all told.  And HIS unemployment rate average was 5.2% (i.e., pretty much the same as Bush’s).  And then consider the fact that George Bush also had to deal with the Dotcom bubble collapse that began under Bill Clinton (which wiped out 78% of the Nasdaq stock exchange and vaporized $7.1 TRILLION in wealth) to go along with the 9/11 attacks and the two wars they necessitated.

Bush really doesn’t look bad at all, in hindsight to the failure Obama has brought America.  But a failed demagogue Big Brother needs to have an Emmanuel Goldstein to bear the blame.  That trick has been around since failed leaders have been around.

This is God damn America.  And I suppose you can think of it this way: in God damn America, you DO have a job.  In God damn America the only job you really need is the one you’ve got bearing the wrath of God for voting for the most evil president in American history.

Unemployment Rate: At ‘Rate’ We’re Going, We’ll Have 0% Unemployment But No One Will Have An Actual Job

February 4, 2011

The last few months the unemployment rate has gone down even though the number of people who are participating in the workforce has gone down and down and down.  How can this be?

February 04, 2011
Labor Force Participation at 26 Year Low
Steve McCann

The headlines today trumpet a decline in the unemployment rate to 9.0%, however only 36,000 jobs were created.  The rate drop is due to the absurd policy of the Bureau of Labor Statistics not to count those who dropped out of the labor and ceased looking for a job.

A more important but unreported statistic is the massive drop in the labor force.  Today at 64.2%, the labor force participation rate (as a percentage of the total civilian noninstitutional population) is now at a 26 year low.  In January of 2000 it hit 67.5% by comparison.

 This  the lowest since 1984 and is the primary reason the unemployment rate has dropped to 9.0%.   Those not in the labor force has increased from 83.9 million to 86.2 million (a drop of 2.2 million on just one year).

In calculating the unemployment rate the BLS is now counting only 13.9 million as unemployed compared to 15 million two months ago when only 80,000 jobs created.  These are the disenchanted, no longer looking for a job and thus no longer on the BLS rolls.

The unemployment rate is a sleight of hand the reality is far worse.  There is no broad base recovery underway despite the best efforts to report otherwise.

Update from Steve McCann:

The Gallup Organization issues its own unemployment statistics which have been somewhat more accurate than the BLS and take into account more of the effect of those who have dropped out of the labor force.  Yesterday Gallup reported a U.S. unemployment rate of 9.8% up from 9.6% in December.

Further the underemployment rate (those unemployed and working part-time because they cannot find full-time work) in January was 18.9% down from 19.0% in December.  The closest number to this statistic issued by the BLS is the U-6 which showed 16.9% in January.

The summary in the Gallup report is:

Gallup’s measures paint a real-time picture of the current job realities on the ground.  Nearly 1 out of 10 Americans in the U.S. are unemployed nearly 1 out of 5 are underemployed, and the nation’s overall hiring situation has not improved over the past four to six months.

So, we have the dueling unemployment rates.  However Americans on Main Street know the situation for jobs has not improved over the past year as even more people enter the labor force each year.

At the rate that we are going given the bizarre measurements and the constant massaging of the data and the facts, we will literally have a zero percent unemployment rate.  With not one single person having a job in this completely failing and floundering economy.

The most meaningful measurement of our employment situation shows that we’re at 18.9%.  That’s Great Depression levels.  But just look here at this mainstream media headline and you’ll see that everything is fine, fine.  Nothing to see here, folks.

I think of the Soviet Union, which literally blamed the total failure of their entire political philosophy and the ruinous policies that philosophy entailed by claiming that their agricultural output had been adversely affected due to 72 years of bad weather.  And the Soviet Union has gone the way of the Dodo bird for that very reason.

Is America under Obama the next Dodo bird to fall apart while we’re assured that everything is fine while some suitable scapegoat bears the blame for every failure that can’t be ignored???

Myth Of Obama’s ‘Shovel-Ready’ Jobs Revealed In Unemployment Stats

January 12, 2010

Democrats’ promises of “shovel ready jobs” was a shovel load of sh*t.  That’s pretty much what we’re learning.

Here’s a headline to remember: “Construction unemployment rises to 22.7%.”

In a clear sign of construction’s persistently severe problems, the industry’s jobless rate hit its highest level in at least a decade, climbing to 22.7% in December, the Bureau of Labor Statistics has reported.

The latest BLS monthly employment figures, released Jan. 8, show that construction’s December jobless rate rose from November’s 19.4%, and also was well above the December 2008 mark of 15.3%.

“In at least a decade”?  That would be during – your audible gasp here – the Clinton years, when the streets were paved with gold (but clearly not laid by construction workers).

Hot Air shows us what a bunch of hot air Obama’s and the Democrat’s promises really were:

Democrats insisted that they would usher in a wave of new jobs by speeding up spending on infrastucture, especially road construction.  All across the US, signs began appearing that heralded the local traffic snarl as a product of the American Recovery and Reinvestment Act — Porkulus, as we came to call it.  Did it do anything to create or even “save” jobs?  The Associated Press says no:

Even within the construction industry, which stood to benefit most from transportation money, the AP’s analysis found there was nearly no connection between stimulus money and the number of construction workers hired or fired since Congress passed the recovery program. The effect was so small, one economist compared it to trying to move the Empire State Building by pushing against it.

Which is to say, Obama is depending on “the butterfly effect” for his stimulus package to actually work.

I should confess here that I have actually captured a butterfly, and have evilly created chaos all over the planet by forcing it to flap its wings.  But apparently no U.S. jobs have come out of it.

I also have to mock the part about the porkulus road signs (actually the “American Recovery and Reinvestment Act” – but “porkulus” has turned out to be FAR more accurate).  We find that the Democrats are spending millions of dollars for “stimulus” road signs that aren’t stimulating anything but the Democrats’ political slush fund to bribe votes for their ObamaCare boondoggle.

Michelle Malkin presented what the American Recovery and Reinvestment Act signs SHOULD HAVE looked like nearly 8 months ago:

Meanwhile, what is unemployment among government workers?

3.6%.

Rush Limbaugh was all over that on like poop on stink (which is rather like Obama on stimulus, but actually telling the truth):

“I mean you cannot take $50 trillion or $50 billion, any amount of money out of the private sector then put it back in and say you’re stimulating something.  You’d have to infuse money that’s not already there.  And there’s no money to do that.  You have to print it, you have to borrow it, or you have to tax it and then put it back.  This is an old shell game; it’s an old trick. It’s designed to enhance the growth of government.  But the proof is right there in the latest unemployment numbers — and I don’t mean the 10% employment, which is an obvious disaster, and I don’t mean the 17% real unemployment.  That’s an obvious disaster.  But here are two numbers from last Friday’s jobless numbers: Construction unemployment is 22.7%. It’s 22.7%!  Now, remember, the stimulus was for “shovel-ready jobs;” Roads, bridges, schools, all this infrastructure stuff.  Construction unemployment is almost 23%. Government worker unemployment is at 3%, 3.6, less than 4%.”

The Associated Press has the following story (from which the quote from Hot Air above is a part):

Stimulus for roads no path to help joblessness
Analysis comes as Obama urges another bill funding more transit projects

updated 9:01 a.m. ET Jan. 11, 2010

WASHINGTON – Ten months into President Barack Obama’s first economic stimulus plan, a surge in spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an AP analysis has found.

Spend a lot or spend nothing at all, it didn’t matter, the AP analysis showed: Local unemployment rates rose and fell regardless of how much stimulus money Washington poured out for transportation, raising questions about Obama’s argument that more road money would address an “urgent need to accelerate job growth.”

Obama wants a second stimulus bill from Congress that relies in part on more road and bridge spending, projects the president said are “at the heart of our effort to accelerate job growth.”

And Rush Limbaugh picks up from there:

“The AP is admitting here it didn’t work but then, hey, they say let’s try it again.  They outline in this piece that the stimulus money that’s been spent so far has had no effect on jobs, none.  Not anywhere.  The veil is off.  They’re no longer pretending that there are jobs created or saved.  Now, here how the story starts: “Ten months into President Barack Obama’s first economic stimulus plan, a surge in –” and it’s not Bush’s.  It’s Obama’s.  “– spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an AP analysis has found. Spend a lot or spend nothing at all, it didn’t matter, the AP analysis showed: Local unemployment rates rose and fell regardless of how much stimulus money Washington poured out for transportation, raising questions about Obama’s argument that more road money would address an ‘urgent need to accelerate job growth.'”

All they can talk about from the stimulus that’s been beneficial is the extension of unemployment compensation benefits.  So, you know, the real question there, folks, is how come despite the vast amount of history that’s available to all of us, all of the smart, so-called smart educated business and economic people, hard evidence, examples of failure and successes, charts and graphs, data out the wazoo, we still seem to be confounded by the elementary process of creating and keeping jobs.  Why is this?  Why is the blueprint for coming out of the circumstance we’re in, the 1980s, JFK in the 1960s, why is it ignored?  And why is this, government spending, constantly looked at as a panacea when it isn’t?  And the answer is it’s not looked at as a panacea.  The people in charge of doing this know exactly what they’re doing.  They’re weakening the private sector for a host of reasons that we’ve mentioned.  I’m going to get blue in the face here, repetitive.  Just don’t doubt me.  It’s being done on purpose and the reasons are all recounted in various multiple monologues at my website, RushLimbaugh.com.”

Meanwhile, the government sector is absolutely thriving compared to the rest of the economy.

Would you have supported the stimulus if you’d known the TRUTH: that instead of “shovel-ready jobs” we’d be getting “bureaucrat-ready jobs”?

As Economy Continues Toward Toilet Bowl, Don’t Forget True Cost Of Failed Stimulus

June 26, 2009

There is increasing evidence mounting that Barack Obama’s $787 billion stimulus bill (the euphemistically-titled “American Recovery and Reinvestment Act of 2009” as opposed to “The Porkulus Act of 2009” or “The Generational Theft Act of 2009) has utterly failed to deliver anything that Obama promised.

As I reported in my article, “Obama Wreckovery Act And Stimulus ‘Employment’: The Pathetic Reality,” it has utterly failed to produce jobs.  In rushing the bill through Congress when unemployment was at 7.2%, Obama promised the country something that is now laughable: his administration assured America that the economic stimulus would prevent unemployment from rising above 8 percent.” It is now over 9.4%, and is expected to enter double-digit territory before the end of the year.

At the time that Obama was arguing that we needed a stimulus plan to avert total disaster, and assuring the country that his stimulus plan would keep unemployment under 8%, the Congressional Budget Office said that unemployment would only go to 9% by 2010 if we did absolutely nothing.  Which is another way of saying that not only has Obama’s stimulus not helped, but it has actually HURT the economy:

New jobless claims jump unexpectedly to 627,000; continuing claims rise to 6.74 million

By Christopher S. Rugaber, AP Economics Writer
On Thursday June 25,The Labor Department data released Thursday show jobs remain scarce even as the economy shows some signs of recovering from the longest recession since World War II.

The department said initial claims for jobless benefits rose last week by 15,000 to a seasonally adjusted 627,000. Economists expected a drop to 600,000, according to Thomson Reuters.

Several states reported more claims than expected from teachers, cafeteria workers and other school employees, a department analyst said.

The number of people continuing to receive unemployment insurance rose by 29,000 to 6.74 million, slightly above analysts’ estimates of 6.7 million.

To make it even more laughable, many of the very jobs that Barrack Obama had heralded as “saved” – including private sector jobs at Caterpillar and government sector jobs at the Columbus, Ohio police department – are the ones being wiped out.

But even though Obama’s stimulus has hurt the economy, it doesn’t change the fact that we’re still going to have to pay the bill for it.

And that bill WON’T be for $787 billion; it will be for $3.27TRILLION.

Stimulus Verdict: A $3.27 Trillion Porker

By: David A. Patten     February 14, 2009

The gargantuan stimulus bill Congress has rubber-stamped with virtually no Republican support contains tens of billions of the very spending projects that made the legislation a lightning rod for criticism.

And although the bill is generally described as costing $787 billion, the Congressional Budget Office reports the actual figure is now closer to $3.27 trillion.

That stems from the $744 billion it will take to pay for the additional debt the legislation will create, and $2.527 trillion in increased spending from the new and expanded programs the bill will spawn over the next decade.

The bill now spans more than 1,000 pages. While Democrats removed some provisions that fiscal conservatives objected to, most of the pork remains. Among them:

  • The plan has more than $3 billion in “neighborhood stabilization” and Community Development Block Grant funding, much of which may go to benefit ACORN, a low-income housing and voter registration “community” organization that is under federal investigation for its suspicious voter registration practices.
  • $1.3 billion to bailout AMTRAK, the perennial money-loser railroad.
  • $1 billion for educational programs, including courses on sexually transmitted diseases.
  • $30 million for restoration of wetlands to be spent in the San Francisco Bay Area – House Speaker Nancy Pelosi’s district. The money will go in part to protect the endangered salt marsh harvest mouse.
  • $200 million for a low-pollution, coal-fired power plant in President Barack Obama’s home state of Illinois.
  • $45 million for ATV four-wheeler trails, and government office renovations, according to RNC Chairman Michael Steele.
  • $200 million to provide computers to community colleges.
  • $50 million for the National Endowment of the Arts.
  • Over $650 million in coupons to help consumers buy digital TV converter-box coupons.
  • A reported $300 million for hybrid vehicles and electric-powered cars. According to the Washington Times, this item will include buying golf carts for federal workers.GOP Sen. John McCain summed up his view of the bill: “This measure is not bipartisan. It contains much that is not stimulative.”Some of the criticisms of the bill, however, center on policy rather than cost.The Heritage Foundation, for example, reports the bill reverses the bipartisan welfare reforms achieved during the Clinton administration.Also, opponents have slammed the bill for being “anti-religious,” because it expressly prohibits the use of stimulus funds for faith-based schools, schools of divinity, facilities used for “sectarian worship,” or places of religious worship.
  • Heritage Foundation has an image of the CBO’s scoring:

    So while the media continues to report “$787 billion stimulus” to mask the actual devastating cost of this mess, in point of fact we’re not talking about a colossal $787 billion boondoggle; we’re talking about a mega-colossal $3.27 trillion boondoggle.

    There are a whole lot of questions about whether Obama is creating any jobs with his massive government spending (beyond his fairy tale “saved” jobs that the US Bureau of Labor Statistics has said can’t be verifiedand can you even imagine the mainstream media allowing President George Bush to hype job numbers that he couldn’t verify???), but there is no question at all that the trillions of dollars being spent are all-too-real. And there is no question that a great big giant lead anvil will fall on the US economy due to the near doubling of the national debt as Obama adds a projected $9.3 trillion to the $11.7 trillion hole we’re already in (which doesn’t count the tens of trillions of dollars in unfunded mandates from Social Security, Medicare, etc).  Obama is borrowing 50 cents on the dollar as he explodes the federal deficit by spending four times more than Bush spent in 2008 and in the process “adding more to the debt than all presidents — from George Washington to George Bush — combined.” And most terrifying of all, Obama’s spending will cause debt to double from 41% of GDP in 2008 to a crushing 82% of GDP in 2019.

    What will be the result of all this insane spending, and not very far off? A quote from a CNS News story should awaken anyone who thinks the future will be rosy:

    By 2019, the CBO said, a whopping 82 percent of the nation’s gross domestic product (GDP) will go to pay down the national debt. This means that in future years, the government could owe its creditors more than the goods and services that the entire economy can produce.

    Now you have to add to that the fact that the Democrats are pushing a $3.5 TRILLION health care bill that will socialize – on top of a big chunk of the economy that already HAS been socialized (e.g. banks, auto companies) a further 1/6th of the US economy.

    And you have to add in the staggering future costs to our economy that will be imposed by the Waxman-Markey (or as I prefer to call it, the Wackjob-Marxist) cap-and-trade bill that will result in capping productivity and trading away our prosperity: $6,800 per family of four by 2035, even as our energy costs skyrocket (or to quote Obama himself: Under my plan of a cap and trade system, electricity rates would necessarily skyrocket).  And as energy costs (and therefore production) increase dramatically, do you think employers will hire more workers, or fewer and fewer?

    All that staggering hyperinflation-creating debt-funded government spending, along with the simultaneous nationalization of our economy and the systemic undermining of our productivity, and about the only jobs that are being created are for washing cars and running errands for politically-connected Democrats.

    By the time the American people understand what has happened to their economy and to their way of life, it’s going to be too late to undo the damage that will have been done.