Janet Yellen February 24, 2015 semi annual monetary policy testimony, Humphrey-Hawkins, Yellen speaking to Hispanics?, Labor market improved further second half last year and early 2015?, For Whom?, Yellen correct about part time jobs
“Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000, 75 percent, were Hispanic/Latino!”…Citizen Wells
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Janet Yellen, as I write this, is giving her semi annual monetary policy, Humphrey-Hawkins, testimony.
Is she on drugs?
Or is she addressing primarily Hispanics?
From the transcript.
“The labor market improved further during the
second half of last year and into early 2015,
and labor market conditions moved closer to
those the Federal Open Market Committee
(FOMC) judges consistent with its maximum
employment mandate. Since the middle of last
year, monthly payrolls have expanded by about
280,000, on average, and the unemployment
rate has declined nearly ½ percentage point
on net. Nevertheless, a range of labor market
indicators suggest that there is still room for
improvement. In particular, at 5.7 percent, the
unemployment rate is still above most FOMC
participants’ estimates of its longer-run
normal level, the labor force participation rate
remains below most assessments of its trend,
an unusually large number of people continue
to work part time when they would prefer
full-time employment, and wage growth has
continued to be slow.”
Reported at Citizen Wells February 24, 2015.
“There are numerous variations of the AP January 2015 jobs report from around February 7, 2015.
The Greensboro News Record regurgitated their own version in print. I could not find an online version so the print edition is provided in full below.
The News Record has been diligent in fact checking the employment data and record of the NC Republicans in power but when it comes to Obama and the national economy, anything goes.
I am disappointed that instead of fact checking the AP article and presenting the truth, they regurgitated it.”
“First lie/inaccuracy: There were 3 million not 3.2 million more people working since last January.
Error of omission: Over 1.3 million of those gains in employment in the last year went to Hispanic/Latinos.”
“Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000 were Hispanic/Latino!
We have barely, if at all, recovered all of the jobs lost during the recession and 75% of the job growth went to Hispanic/Latinos!!
The large numbers of young people entering the labor force are the reason that the percent of population working has dropped under Obama. I will examine this more in detail and report soon.
Approx. 9 million people net have entered the population counted by the BLS for employment population since Obama took office. That is the people turning 16 years old subtracted by deaths. That is the reason for the increase in those not in the labor force, not baby boomers as some would have you believe.
There was an increase of over 12 million not in the labor force since Obama took office.”
““The labor market was about the last thing to recover from the Great Recession, and in the last six months it has picked up steam,”
There were approx. 1.8 more people employed in the last 6 months. 50 percent of those, approx. 900,000, were Hispanic/Latino.”
If you are Hispanic, especially an illegal alien, you are doing well in this Obama economy.