Posts Tagged ‘unemployment’
Call it the million-worker mystery.
A large chunk of American adults are no longer in the labor force. That has left economists divided over how many of them are voluntarily not working-or even looking for work-because they wanted to retire, go to school or take care of family members, versus how many have been forced out because they couldn’t find a job.
Read more by Allison Linn at CNBC.com
In 2008, he seemed like the coolest cat to hit the national scene in a long time, almost scientifically engineered to appeal to idealistic young Americans. How times have changed.
It’s like totally official, now, bro: Even the young Americans who were central to Barack Obama’s election in 2008 and 2012 are sick of the president, with a large and growing majority disapproving of the job he’s doing. In this, they’re just like their elders.
Read more by Nick Gillespie at TheDailyBeast.com
This is sheer madness. the people that are already citizens will be put on the back burner for US businesses that are at least 50+ to choose illegals over the citizens. Basically if you hire a citizen over one of the new 11 million legalized you (the business owner) will be penalized $5000 per head!
The Obama administration continues to discount the huge impact its health overhaul law is having in turning America into a part-time nation, calling reports anecdotal and not based on complete data.
To paraphrase Groucho Marx: Who are you going to believe? Me, or your own eyes?
An avalanche of “anecdotes” continues to pile up as workers across the country are having their hours cut and their health benefits slashed across a broad range of industries.
Read more by Grace-Marie Turner at Forbes.com
The level of underemployed workers looks bad on its face but even worse when it’s not the government doing the counting.
When the Labor Department released its monthly nonfarm jobs report Friday, it was all sunshine and roses except for one glaring weakness: A big jump in the underemployment rate that includes those who have quit working as well as those who have had to take part-time jobs even though they’d rather work full-time.
That rate, which economists call the U-6, jumped from 13.8 percent in May to 14.3 percent in June—a 3.6 percent increase and indicative that the 195,000 new jobs created in the month weren’t exactly of the highest caliber.
Read more by Jeff Cox at CNBC.com
by Gov. Scott Walker
1) The new budget provides nearly $1 billion worth of tax relief—including an income tax cut reducing all rates, shrinking the number of rates, and reforming the tax code.
2) The new budget continues to provide property tax relief by limiting levy increases—and by limiting the ability of local governments to shift levy costs off onto new fees.
3) The new budget expands school choice statewide, strengthens the current system, and provides a tax deduction for families who send their kids to private schools.
4) The new budget assists home school parents.
5) The new budget freezes tuition at all University of Wisconsin campuses for the next two years.
6) The new budget keeps local governments from enacting “nanny state” requirements on citizens regarding size of soda and food, like they’ve done in New York City.
7) The new budget protects individual rights by prohibiting residency requirements that have nothing to do with an employee’s work requirements.
8) The new budget protects utility ratepayers from picking up the costs of the proposed trolley in the City of Milwaukee.
9) The new budget reforms entitlements like unemployment benefits, food stamps and Medicaid, so people can transition from government dependence to true independence.
10) The new budget affirms my position that we will not take the Medicaid expansion under Obamacare.
China’s manufacturing advantage over the U.S. is actually due to a complex array of unfair trade practices, all of which are illegal under free-trade rules.
The American economy has been in trouble for more than a decade, and no amount of right-wing tax cuts or left-wing fiscal stimuli will solve the primary structural problem underpinning our slow growth and high unemployment. That problem is a massive, persistent trade deficit — most of it with China — that cuts the number of jobs created by nearly the number we need to keep America fully employed.
To understand why huge U.S. trade deficits represent the taproot of the nation’s economic woes, it’s crucial to understand that four factors drive our gross domestic product . . .
Read more by Peter Navarro at latimes.com
A small, thriving minority now dominates the national conversation, even as more and more Americans struggle to get by, writes Stuart Stevens.
Today, 21 and a half million Americans are unemployed or underemployed—about twice as many as six years ago, according to NPR. Work-force participation, a fancy term for the number of Americans either working or looking for work, has dropped to “the lowest level since the malaise of the late 1970’s,” an era when far fewer women were working, according to MSNBC.
Yes, the unemployment rate dropped last month—but only because so many people simply gave up looking for work. The dirty little secret is that after only four weeks of not looking for a job, an unemployed worker stops being counted. So far as the jobless numbers are concerned, that person ceases to exist. But, of course, they do exist and continue to be counted in other, troubling statistics:
Read more by Stuart Stevens at TheDailyBeast.com
--SNIP-- Imagine if a Republican like Bush were President, would the media quote the 7.7 percent rate but ignore the underlying numbers of 13.8 percent unemployment among black Americans or 25.1 percent among teens?
Imagine if a white Republican President were presiding over 13.8 percent black unemployment versus 6.8 percent white unemployment, what would Al Sharpton, Jesse Jackson, (U.S. Senator) Barack Obama and other black leaders be screaming? Would they be leading a “million man march” on Washington, D.C.? Of course they would. Would black leaders blame this all on racism and in particular a racist white Republican President? Of course they would. Would they blame it all on conservative economic policies? Of course they would. Yet with a black President following big-tax, big-spend, big-entitlement, big-government policies, we hear not a word of anger or blame — and, of course, no mention of racism.
Read more at PersonalLiberty.com
The sad truth in the USA, as we explained in great detail here, incentives to ‘work’ are increasingly non-existent. Thanks to a never-ending stream of benefits from the great and powerful Oz, as CNBC’s Rick Santelli notes, Disability payments (of which there are 14 million people covered in the US - none of which count towards the unemployment rate) pay around $13,000 per year (versus $15,000 for minimum wage work). However, Santelli exclaims, the people on disability get healthcare; and this program costs the US $300 billion per year. Is it any wonder that only 1% of those who were on disability in Q1 2011 have left? Santelli comments, “I’m not saying there aren’t people that are on disability that shouldn’t be, but much of it is illnesses like back pain… it’s a judgment call,” adding that, “without incentives, large issues go …totally unfixed.”
Always ask The Magic Question: What gets rewarded?
Sometimes societies just plod along, oblivious that the world is being reinvented right under their noses. In 2000, one never saw pedestrians bumping into themselves as they glued their noses to iPhones. Thirteen years later, it is almost rare to see anyone on the street who is not stumbling about, networking or texting. Yet most of us are scarcely aware of the collective effect of that odd habit repeating itself millions of times over each day, of millions of books not read, of “hellos” not offered, of brains wired to screens rather than the physical world about them. When cars once drifted into your lane, you assumed a DUI; now their drivers are most likely texting.
Cars, of course, look about the same as they did thirty years ago. But we just assume now that they almost never break down. Up until 1980 I used to see them with hoods up by the side of the road almost every five miles or so. Today, entire notions such as points, plugs, tune-ups, and carburetors have simply quietly passed away for most motorists. The old jalopy with 100,000 miles on it was junk; the new Accord with 150,000 miles has another easy 250,000 to go. The world changes while we snore.
Read more by Victor Davis Hanson at PJmedia.com