Challenger Gray & Christmas January 2015 job cuts report, 53000 job cuts, 40 percent due to falling oil prices, Initial claims jump 11K
“There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.”…Gallup CEO Jim Clifton
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Remember, only 59.2 percent of the US population is working and only 56.5 percent in NC. More on NC and McCrory’s state of the state speech soon.
From Challenger Gray & Christmas.
“2015 January Job Cut Report: 40% of 53,041 Cuts Due to Falling Oil Prices”
“Job cut announcements surged to their highest level in nearly two years, as falling oil prices prompted cost-cutting efforts in energy and related industries. In all, U.S.-based employers announced plans to shed 53,041 jobs from their payrolls to start 2015; with 40 percent of those directly related to oil prices.
The January total was up 63 percent from the 32,640 planned layoffs announced in December, according to the report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
Last month’s figure was 18 percent higher than the same month a year ago, when employers announced job cuts totaling 45,107. Last month, in fact, saw the highest monthly job-cut tally since February 2013 (55,356) and the highest January total since 2012, when employers announced 53,486 job cuts to begin the new year.
Of the 53,041 job cuts announced in January, 21,322 were directly attributed to the recent and sharp decline in oil prices. Most of these cuts occurred in the energy industry, where employers announced a total of 20,193 layoffs (19,722 of which were directly attributed to oil prices). The January total is 42 percent higher than the 14,262 job cuts announced by the energy industry in all of 2014.
Falling oil prices also contributed to job cuts in the industrial goods manufacturing sector, where companies supplying products and materials to oil drillers were forced to shutter operations. These firms announced 4,859 job cuts in January, of which 1,600 (or 33 percent) were due to oil prices.
“We may see oil-related job cuts extend well beyond those industries directly involved with exploration and extraction. The economies throughout the northern United States that have been thriving as a result of the oil boom could experience a steep decline in employment across all sectors, including retail, construction, food service and entertainment,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.”
“In the week ending January 31, the advance figure for seasonally adjusted initial claims was 278,000, an increase of 11,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 265,000 to
267,000. The 4-week moving average was 292,750, a decrease of 6,500 from the previous week’s revised average. The previous week’s average was revised up by 750 from 298,500 to 299,250.”
5.6 percent unemployment rate big lie, Gallups Jim Clifton, White House Wall Street and media lies, 30 million Americans out of work or severely underemployed, Percent of population working plummets
“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.”…US Labor Dept. September 2014
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″
Citizen Wells and others such as Rush Limbaugh have been warning and informing you about the real economy and jobs situation.
From Citizen Wells January 29, 2015.
“The plummet of the labor force participation rate in NC, other states and the US is big news and should be more widely reported.
The percentage of the population working is also important and in some ways more significant.
Since the big news today was the lowest so called initial claims number in 15 years let’s go back to January 2000 and compare the employment to population percent from then to now.
US
Jan 2000 64.6
Dec 2014 59.2
That’s a plummet of 5.4 percent!
NC
Jan 2000 65.1
Dec 2014 56.5
That’s a plummet of 8.6 percent !!!
So much for the improved economy and jobs situation.
I warned you we were in the age of Big Brother and “1984.””
From Gallup CEO Jim Clifton
“The Big Lie: 5.6% Unemployment”
“Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.
There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.
And it’s a lie that has consequences, because the great American dream is to have a good job, and in recent years, America has failed to deliver that dream more than it has at any time in recent memory. A good job is an individual’s primary identity, their very self-worth, their dignity — it establishes the relationship they have with their friends, community and country. When we fail to deliver a good job that fits a citizen’s talents, training and experience, we are failing the great American dream.”
Q4 GDP boosted by Obamacare spending, Obama lies economy dies, Market Watch orwellian version vs Zero Hedge reality, Healthcare largest expenditure, Economy in ruins as food stamp usage soars for labor force dropouts
“two-thirds of the “boost” to final Q3 personal consumption came from, drumroll, the same Obamacare which initially was supposed to boost Q1 GDP until the “polar vortex” crashed the number so badly, the BEA decided to pull it completely and leave this “growth dry powder” for another quarter. That quarter was Q3.”…Zero HedgeDecember 23, 2014
“One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024.”…Market Watch February 4, 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
The fourth quarter GDP was lower than forecast at 2.6 percent.
It would have been lower without the higher costs of healthcare brought on by Obama and Obamacare.
Here is the Orwellian spin from Market Watch.
“The U.S. economy slowed a bit more than expected in the fourth quarter after expanding at the fastest pace in eleven years during the fall, according to data released Friday.
Gross domestic product — the value of all goods and services produced by the U.S. — grew at a 2.6% annual clip in the fourth quarter, the government said Friday. That’s below the 5.0% pace recorded in the July-September period.
Economists polled by MarketWatch forecast GDP would grow by a seasonally adjusted 3.2% in the October-to-December period.”
“Consumer spending was a major positive in the fourth quarter, expanding 4.3%, the fastest pace since before the financial crisis.”
But White House chief economist Jason Furman noted that all of the swings in the fourth quarter came from two notoriously volatile sectors—net exports and government spending.
In a blog post, Furman noted that the economy increased at a 3.9% rate in the October to December period, applying an alternative measure of GDP that strips out these volatile sectors. That figure is only a tad slower than the 4.1% rate in the third quarter.”
(Refer to the numerous “1984” quotes on this site for the proper decoder ring settings)
Now for the reality from Zero Hedge January 30, 2015.
“Thanks Obamacare: This Is What Americans Spent The Most Money On In Q4”
“If readers need clarification on what was the primary source of spending-based “growth” for the US economy in the fourth quarter, the same source that bumped up final Q3 GDP from 3.9% to 5.0%, please ping us: we will gladly explain the chart below. And just in case it is still unclear what Americans are spending their “gas sasvings” on, here it is one more time.”
“It’s a fair bet that most of the reduced energy costs are going to show up as added spending by consumers somewhere,” said James Hamilton, an economics professor at the University of California, San Diego.
Here’s the thing, Professor Hamilton is spot on. The only problem is what this added spending will be used on. Sadly, it is neither trinkets, nor gadgets, nor BigMacs, nor even surging cell phone and home internet bills. Unfortunately for the proponents of the “oil crash is unquestionably bullish for America” (as an aside, the falacy of a statement is directly proportional to how “unquestionable” it is), where the bulk of “savings” for those Americans who have to spend on gas (primarily those Americans who commute to work, i.e. the middle class) is… on Obamacare.
Here is confirmation that in a centrally-planned economy, it is the unintended consequences that always prevail in the end:
Iowans are feeling the heat from Obamacare’s rising premiums, especially Wellmark customers with Blue Cross Blue Shield.
As of January 1, 2015, Blue Cross Blue Shield customers will experience a 14.5 percent increase in premiums, while Wellmark Health plans will see a 11.9 percent increase.
Hundreds of thousands of consumers nationwide who bought insurance plans under the Affordable Care Act will face a choice this fall: swallow higher premiums to stay in their plan, or save money by switching. That is the picture emerging from proposed 2015 insurance rates in the 10 states that have completed their filings, which stretch from Rhode Island to Washington state.
In all but one of them, the largest health insurer in the state is proposing to increase premiums between 8.5% and 22.8% for next year, according to a Wall Street Journal review of the filings. That percentage represents the average rate increases for all individual health plans offered by that carrier
Aetna has said it is likely to seek rate increases of more than 10% for individual marketplace plans in 2015, according to a note from Citigroup analyst Carl McDonald. An Aetna spokeswoman said that with health-law fees, generally increasing health-care cost trends and other factors, “that level of increase would not be out of the realm of possibility,” but it was too soon to say what it would request.”
Americans increasingly have to dig into their own pockets to pay for medical care, a shift that is helping to curb the growth in health spending by employers and the government.
The trend is being accelerated by the Affordable Care Act because many private plans sold by the law’s health exchanges come with hefty out-of-pocket costs, which prompt some people to delay or put off seeking care. For the exchanges’ 2015 policies, which went on sale last month, “bronze-level” plans have an average deductible of $5,181 for individuals, up from $5,081 in 2014, according to a November report from HealthPocket, which publishes health insurance market analyses. Bronze plans generally cover 60% of consumers’ medical expenses.
And that ignores the fact that the average deductible for workers who get employer health coverage has shot up 47% to $1,217 from $826, and that one in three Americans said they or a family member delayed medical care because of costs in 2014.”
Obama hustles and lies in state of union speech, Obama the hustler, Obama devastates US economy, middle class young and students, Rush Limbaugh nails it, More businesses failed during Obama 6 years
“I didn’t like Obama from the beginning, I thought he was a hustler and I think he still is.”…Bartle Bull, lifelong Democrat and civil rights activist, July 1, 2010
“I mean, yeah, he’s got a lot to brag about here, doesn’t he? Is he gonna brag about 92.8 million Americans not working? Is he gonna brag about the absolute mess that HealthCare.gov has been from the get-go? Is he going to brag about all the states he has sued who have attempted to pass legislation in those states to enforce already existing immigration laws? Is he gonna brag about how he has stopped deporting almost anyone except the most hardened criminals? Is he gonna brag about getting to the bottom of the IRS targeting of the Tea Party? Is he gonna brag about getting to the bottom of what happened at Benghazi? Is he gonna brag about finally finding out what happened with the VA scandals and straightening that out?”…Rush Limbaugh January 20, 2015
“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″
I did not watch the State of the Union speech for the same reasons that Rush Limbaugh didn’t watch.
Obama is a hustler and a liar.
He has destroyed the US economy, health care system, businesses and jobs.
From Rush Limbaugh January 21, 2015.
“Why I Didn’t Watch the Obama State of the Union Show”
“I never thought, I mean, I thought I might get close to it. I never thought the day would come where I did what I did last night. I did not watch. I did not turn it on. I didn’t have the State of the Union on with the sound down. I didn’t have a channel on where you could see the State of the Union. I today am a proud member of the low-information crowd. I didn’t watch it.”
“And now look. Look at how far Obama has actually fallen, just in that measure alone, how many people have no interest in listening to what he has to say. And that was it for me. I literally had no interest, because I knew what was gonna be said, and more than that, I knew how it was going to be said. I knew that I was gonna be insulted. I knew the things I believe in are gonna be insulted, with a gloating air about it, and I just didn’t want to put up with it.
I’ve got enough other things going on in life now that are far more deserving of my attention than that, particularly when I knew there wasn’t gonna be any real news in this thing last night. There wasn’t gonna be anything unexpected. There wasn’t gonna be anything brand-new. There wasn’t gonna be anything real meaningful as far as that concerned, other than continued obfuscation.”
“Now, you know presidents, when they go to the State of the Union show, they try to list and rattle off their accomplishments from over the last year or during their presidential terms. So what will Obama point to as his accomplishments since the last State of the Union show? Is he gonna brag about the rise of ISIS? Is he gonna brag about how we’ve lost Iraq and we’re the on brink of losing Afghanistan?
Did you see that ISIS killed 13 young boys because they watched a soccer game? Yeah, so is Obama gonna talk about how he has stopped the rise of ISIS? Is he gonna brag about how we’ve lost Iraq, gonna brag about we’re on the brink of losing Afghanistan? Is he gonna brag about freeing dozens of prisoners at Guantanamo Bay? Is he going to brag about trading five of the worst of them for a man who may have deserted his post, that would be Bergdahl? Is Obama gonna brag about swapping five Cuban terrorists, a couple of whom were actually convicted of murder, for some American hostages the Castros were holding for bargaining chips?
I mean, yeah, he’s got a lot to brag about here, doesn’t he? Is he gonna brag about 92.8 million Americans not working? Is he gonna brag about the absolute mess that HealthCare.gov has been from the get-go? Is he going to brag about all the states he has sued who have attempted to pass legislation in those states to enforce already existing immigration laws? Is he gonna brag about how he has stopped deporting almost anyone except the most hardened criminals? Is he gonna brag about getting to the bottom of the IRS targeting of the Tea Party? Is he gonna brag about getting to the bottom of what happened at Benghazi? Is he gonna brag about finally finding out what happened with the VA scandals and straightening that out?
Or is he gonna skip listing all of these accomplishments and just move on to listing even more ways he wants to buy votes for Democrats in the future? Again, a study out today by a couple of scholars that reports that Obama actually has the second worse State of the Union success rate for any president over the last 50 years, and that would be Gerald Ford, who wasn’t even elected.
Look at what Gerald Ford faced. Gerald Ford faced a country and a media still wallowing in Watergate. Ford’s success rate was 28%, Obama’s is 30, 30% of what Obama has proposed has actually happened, and it’s going to be probably more of the same tonight. And don’t forget that for two years of his tenure, Obama even had a Democrat-controlled Congress, which makes this 30% success rate somewhat unimpressive. ”
“This is an interesting. I’ve been holding this story for couple of days. It’s a Reuters story. “Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: The decline of the middle class that he has promised to rescue.” What is this from Reuters? A little truth here? Right here, that open is exactly why the State of the Union is being done the way it’s being done tonight and why all of these talks of tax increases on the rich are taking place.
Obama has fixed it so that the only way the middle class benefits is via the redistribution of wealth (and that means government benefits) instead of going out and working and getting jobs. “Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue.” In reality, it is impossible to erase. It is what it is. But that’s what tonight’s gonna be about: erasing this and making it look like things have never been better.
Frankly, folks, I don’t want to be lied to about it. Things are not looking better than ever. There’s nothing Obama has done that sets this country up for vast growth and improvement. It’s the exact opposite. “The revival of middle-class jobs has been one of Obama’s mantras since he took office in 2009 fighting the worst economic crisis in generations. It was a major theme of his last State of the Union address and is expected to feature in the one scheduled for [tonight].”
“The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity. Countries such as Hungary, Denmark, Finland, New Zealand, Sweden, Israel and Italy all have higher startup rates than America does.
We are behind in starting new firms per capita, and this is our single most serious economic problem. Yet it seems like a secret. You never see it mentioned in the media, nor hear from a politician that, for the first time in 35 years, American business deaths now outnumber business births.
The U.S. Census Bureau reports that the total number of new business startups and business closures per year — the birth and death rates of American companies — have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.
Until 2008, startups outpaced business failures by about 100,000 per year. But in the past six years, that number suddenly turned upside down. There has been an underground earthquake. As you read this, we are at minus 70,000 in terms of business survival. The data are very slow coming out of the U.S. Department of Census, via the Small Business Administration, so it lags real time by two years.
Net Number of New U.S. Firms Plummets
Business startups outpaced business failures by about 100,000 per year until 2008. But in the past six years, that number suddenly reversed, and the net number of U.S. startups versus closures is minus 70,000.
My hunch is that no one talks about the birth and death rates of American business because Wall Street and the White House, no matter which party occupies the latter, are two gigantic institutions of persuasion. The White House needs to keep you in the game because their political party needs your vote. Wall Street needs the stock market to boom, even if that boom is fueled by illusion. So both tell us, “The economy is coming back.”
Let’s get one thing clear: This economy is never truly coming back unless we reverse the birth and death trends of American businesses.
Dead-Wrong Thinking
It is catastrophic to be dead wrong on the biggest issue of the last 50 years — the issue of where jobs come from. Our leadership keeps thinking that the answer to economic growth and ultimately job creation is more innovation, and we continue to invest billions in it. But an innovation is worthless until an entrepreneur creates a business model for it and turns that innovative idea in something customers will buy. Yet current thinking tells us we’re on the right track and don’t need different strategies, so we continue marching down the path of national decline, believing innovation will save us.”
Inflation lies continue from Government media Big Brother, No inflation unless you eat food use water live in a house, Best investment strategy is food
“The past is whatever the records and the memories agree upon.
And since the party is in full control of all records, and in
equally full control of the minds of it’s members, it follows
that the past is whatever the party chooses to make it. Six
means eighteen, two plus two equals five, war is peace,
freedom is slavery, ignorance is strength.”…George Orwell, “1984”
“Your government keepers will continue to drown you in propaganda and misinformation. But the average person should know they are being lied to. They see how much money they have left over at the end of every month. If any.”…The Burning Platform January 16, 2015
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Welcome
To
The
Age
Of
Big Brother
I began warning you in early 2008.
We are living “1984” by George Orwell.
In almost every way that Big Brother lied to the people, we are being lied to.
From The Burning Platform January 16, 2015.
“NO INFLATION UNLESS YOU EAT FOOD, USE WATER, LIVE IN A HOUSE OR APARTMENT, HEAT YOUR HOME, GET SICK, TRAVEL, PAY CAR INSURANCE, GO TO SCHOOL, MAIL LETTERS, OR DO YOUR TAXES”
“Government data reports are so funny. The blaring headlines today tells us that prices dropped in December. We are all saving billions from the drop in oil and gas. Hallelujah!!!
The corporate MSM never digs into the numbers to get the real truth. These reports and their distribution to the sheep are designed to keep you sedated and calm. Facts are not necessary. How this data pertains to your everyday life is not important to the .1% who control the flow of information.
Here is a link to the detailed inflation numbers by category. We already know they massage these numbers to achieve a happy ending, but even the massaged numbers tell an entirely different story than the one peddled to the masses by the government and corporate media.
Below are the annual price increases for items that might impact your life on a daily basis:
Food at home – 3.7%
Food away from home – 3.0%
Meat – 12.7%
Fish and seafood – 5.6%
Eggs – 10.7%
Milk – 5.2%
Fruits & vegetables – 4.1%
Coffee – 4.2%
Butter – 22.5%”
“The credibility of their numbers is highly questionable in that they say health insurance accounts for .75% of a person’s annual budget. They actually have the balls to say health insurance fell by 0.5% over the last year. I’d love to hear from anyone out there whose health insurance premiums fell in the last year. Mine went up by 20%.
Your government keepers will continue to drown you in propaganda and misinformation. But the average person should know they are being lied to.”
“For weeks I have been preparing articles on the real state of the economy, the non dumbed down, non Orwellian information about jobs, incomes and our national debt crisis and subsequent impending doom.
If I do, how many will read and comprehend it?
It continues to be frustrating, why bother.
Afterall, as I have been reporting here since early 2008, the real problem is our society, dumbed down and spoon fed what to think by our Orwellian government and media.
Orwell nailed it.”
Consider this from “1984.”
“‘Comrades!’ cried an eager youthful voice. ‘Attention, comrades! We have glorious news for you. We have won the battle for production! Returns now completed of the output of all classes of consumption goods show that the standard of living has risen by no less than 20 per cent over the past year. All over Oceania this morning there were irrepressible spontaneous demonstrations when workers marched out of factories and offices and paraded through the streets with banners voicing their gratitude to Big Brother for the new, happy life which his wise leadership has bestowed upon us.”
“Best food investment strategy for average person”
“The average person in the US today is struggling to pay bills and from recent reports is unprepared for an emergency.
One paycheck away from being homeless in many cases.
So for many people, the concerns about where to invest money are nonexistent.
But one of the best investments today is one that requires purchasing or growing one of the necessities of life.
Food.
From Stellar Solutions for Business, IT, Energy and Home January 8, 2015.
“What is your best investment in today’s scary financial markets and economic circumstances?
The answer may be food.”
“My food investment strategy is as follows:
1. I keep a many months supply of food.
2. I purchase as much “free” food as possible. I stock up with buy one get one free and especially buy 2 get 3 free. Hard to beat free food.”
US Economy on verge of collapse?, Workers not buying labor market’s recovery, Forget unemployment rate, Record low labor force participation rates, WV drops below 50 percent, National debt exceeds GDP
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“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.”…US Labor Dept. September 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
I am an optimist by nature and I love and believe in this country.
I have heard Rush Limbaugh echo this attitude.
A friend recently asked me what I thought about the prospects for this country in 2015.
I paused for a moment and said I could not see much good.
The realist in me, the mathemetician, the businesman and the person paying close attention to facts, is very concerned about the US Economy.
For starters, the US debt, which exceeds the GDP, is a concern.
We are at best case scenario debt interest rates now and we are not paying down the debt and instead are rapidly adding to it. The interest service on this debt will increasingly be a burden on our budgets and economy.
The employment situation in this country is scary.
Record numbers have dropped out of the labor force and consequently record number are receiving government assistance.
Forget the unemployment rate. If you remove enough people from the labor force you will achieve full employment and a low unemployment rate. We have that scenario now. In fact one state, West Virginia, has a labor force participation rate below 50 percent yet the unemployment rate is 6.3 percent.
See what I mean?
Old Abe Lincoln once said “you can’t fool all of the people all of the time.”
From Market Watch January 14, 2015.
“The only state where less than half its civilians work”
“West Virginia quietly passed the ignominious milestone of having less than half of its adult, civilian population in the workforce in November.
State data compiled by the Labor Department shows that West Virginia’s civilian labor participation rate has fallen to 49.8%, from 50% in October. The national rate in December was 62.7%.
The Mountain State is the only state in the history of the series, which goes back to 1976, to have fallen below 50%, though Mississippi at 50.8% isn’t far behind.
See interactive map of participation and unemployment rates.
The troubles that have befallen West Virginia have been well publicized, notably the diminished demand for coal.
At 6.3%, West Virginia doesn’t have close to the worst state unemployment rate, with Mississippi, California and Rhode Island each having jobless rates above 7%, and 11 other states with unemployment rates in the 6% range that are worse. But it’s a state where many have given up trying to find a job.”
“The U.S. labor market had a strong 2014 — the economy added the most jobs since 1999 and the unemployment rate fell, according to government data released last week.
But a Tuesday report hinted that workers don’t completely believe in the solidity of the recovery, with many still wary of quitting their jobs.”
“One trend that workers may find encouraging is the drop in competition for jobs. There were about 9 million unemployed people in November, translating to 1.8 potential job seekers per opening, the narrowest ratio since January 2008, early in the recession.
“In a stronger economy, the ratio would be smaller, but we are definitely moving in the right direction,” Gould said.”
“More job openings, but many of them are low-paying”
“The job openings and labor turnover survey has been attracting increasing attention from economists lately – both because Fed Chair Janet Yellen has called it one of her favorite indicators of the U.S. labor market’s health, and because recently it’s been signaling some real signs of strength in the long-feeble American job-creation scene.
As with much employment data, however, the headline results of this gauge – which measures the nation’s job openings, hirings, and voluntarily and involuntary job separations – tell a happier story than the details. In fact, industry-by-industry JOLTS figures add to the evidence that too many of the jobs and job opportunities being created during the current still-disappointing recovery are in sectors where wages can barely support individual workers, much less working families.”
“Based on these aggregate figures, it looks like good news that professional and business services accounted for 27.2% of the growth of job openings from January-November 2013 to January-November 2014.
But inside this part of the economy is a big group of very low-wage industries called the administrative and support services sector. Its jobs accounted for nearly 46% of all profession and business services jobs in September. The call-center workers, employment-office staffers, janitors, landscapers, waste collectors, and security guards who belong to this category make much less per hour ($7.83 in November) than the lawyers, architects, management consultants, computer systems designers, engineers, and scientific researchers who also come under the professional and business service heading.
Yet the JOLTS data doesn’t show how many openings were created in this industry’s very lucrative segments and in its much less lucrative segments.
If, however, low-wage professional and business service sectors generated a proportionate percentage of total job openings, the low-wage share of these opportunities would stand at nearly one-third as of November. And closer examination of other major employment categories, like health care, educational services, and social assistance; and the miscellaneous services category, would reveal other large low-wage sub-sectors.”
Obamacare surprises and clobbers millions of Americans, Subsidy refunds to IRS, Premiums skyrocket, High deductibles unpaid cost to hospitals and taxpayers, Obamacare increases health care spending
“The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.”
“Mallette said the insurance increases are due to the health care usage of UNC system students during the past couple of years, plus federal regulations on preventive care and pharmacy services issued in March. The process is complicated, he said, by the new provisions of the Affordable Care Act.”…Charlotte Observer May 1, 2012
“If you like your plan, you can keep it.”…Barack Obama
“millions of Americans are getting or are about to get cancellation letters for their health insurance under Obamacare, say experts, and the Obama administration has known that for at least three years.”…NBC News October 29, 2013
The Washington Examiner article below warns of surprises to as many as 3.4 million tax filers of Obamacare subsidies that could impact their tax refunds.
That may be the good news.
Millions of Americans have already been shocked by premium increases as large as 100 percent. Average increases in some states are 45 percent.
What you probably are not being told about is the hidden problem of high deductibles and the impact on the US economy. More people with higher deductibles will not be able to pay them and the hospitals and healthcare providers will have to absorb the costs and ultimately pass them on to the American public.
I was discussing this problem recently with a friend who owns a Tax/accounting business. He told me that recently he was at a seminar and heard a hospital administrator explain this very topic.
Do not be fooled by the Orwellian Obama controlled mainstream media as they attempt to cover for Obamacare and the economy.
From Zero Hedge December 23, 2014.
“Fast forward to today when as every pundit is happy to report, the final estimate of Q3 GDP indeed rose by 5% (no really, just as we predicted), with a surge in personal consumption being the main driver of US growth in the June-September quarter. As noted before, between the second revision of the Q3 GDP number and its final print, Personal Consumption increased from 2.2% to 3.2% Q/Q, and ended up contributing 2.21% of the final 4.96% GDP amount, up from 1.51%.
So what did Americans supposedly spend so much more on compared to the previous revision released one month ago? Was it cars? Furnishings? Housing and Utilities? Recreational Goods and RVs? Or maybe nondurable goods and financial services?
Actually no. The answer, just as we predicted precisely 6 months ago is… well, just see for yourselves.
In short, two-thirds of the “boost” to final Q3 personal consumption came from, drumroll, the same Obamacare which initially was supposed to boost Q1 GDP until the “polar vortex” crashed the number so badly, the BEA decided to pull it completely and leave this “growth dry powder” for another quarter. That quarter was Q3.”
“Half of Obamacare subsidy recipients may owe refunds to the IRS”
“As many as 3.4 million people who received Obamacare subsidies may owe refunds to the federal government, according to an estimate by a tax preparation firm.
H&R Block is estimating that as many as half of the 6.8 million people who received insurance premium subsidies under the Affordable Care Act benefited from subsidies that were too large, the Wall Street Journal reported Thursday.
“The ACA is going to result in more confusion for existing clients, and many taxpayers may well be very disappointed by getting less money and possibly even owing money,” the president of a tax preparation and education school told the Journal.
While the Affordable Care Act fines those who don’t have health insurance, it also provides subsidies for people making up to four times the federal poverty line ($46,680).
But the subsidies are based on past tax returns, so many people may be receiving too much, according to Vanderbilt University assistant professor John Graves, who projects the average subsidy is $208 too high, the Journal reports.
Tax preparers, who frequently advertise their ability to deliver big refunds, have been working feverishly to avoid customer anger stemming from lower-than-expected refunds due to insurance premiums. They also are trying to make sure customers understand the potential fines for not having insurance.”
“Eighty-five percent of our customers get a refund,” said Kathy Pickering, who directs the H&R Block Tax Institute, according to the Washington Post. “That refund could be offset by the penalty. And if that happens, they’re going to be understandably angry.”
The Zombiefication Of America aka Orwellian thought control, All news information and entertainment controlled by six monolithic corporations, Mind programming turns many into virtual zombies, 1984 lives
“The past is whatever the records and the memories agree upon.
And since the party is in full control of all records, and in
equally full control of the minds of it’s members, it follows
that the past is whatever the party chooses to make it. Six
means eighteen, two plus two equals five, war is peace,
freedom is slavery, ignorance is strength.”…George Orwell, “1984”
“When an opponent declares, “I will not come over to your side,” I calmly say, “Your child belongs to us already… What are you? You will pass on. Your descendants, however, now stand in the new camp. In a short time they will know nothing else but this new community.”…Adolf Hitler
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
For weeks I have been preparing articles on the real state of the economy, the non dumbed down, non Orwellian information about jobs, incomes and our national debt crisis and subsequent impending doom.
If I do, how many will read and comprehend it?
It continues to be frustrating, why bother.
Afterall, as I have been reporting here since early 2008, the real problem is our society, dumbed down and spoon fed what to think by our Orwellian government and media.
Orwell nailed it.
Consider this from “1984.”
“In its second minute the Hate rose to a frenzy. People were leaping up and down in their places and shouting at the tops of their voices in an effort to drown the maddening bleating voice that came from the screen. The little sandy-haired woman had turned bright pink, and her mouth was opening and shutting like that of a landed fish. Even O’Brien’s heavy face was flushed. He was sitting very straight in his chair, his powerful chest swelling and quivering as though he were standing up to the assault of a wave. The dark-haired girl behind Winston had begun crying out ‘Swine! Swine! Swine!’ and suddenly she picked up a heavy Newspeak dictionary and flung it at the screen. It struck Goldstein’s nose and bounced off; the voice continued inexorably. In a lucid moment Winston found that he was shouting with the others and kicking his heel violently against the rung of his chair. The horrible thing about the Two Minutes Hate was not that one was obliged to act a part, but, on the contrary, that it was impossible to avoid joining in.”
“What happened in the unseen labyrinth to which the pneumatic tubes led, he did not know in detail, but he did know in general terms. As soon as all the corrections which happened to be necessary in any particular number of The Times had been assembled and collated, that number would be reprinted, the original copy destroyed, and the corrected copy placed on the files in its stead. This process of continuous alteration was applied not only to newspapers, but to books, periodicals, pamphlets, posters, leaflets, films, sound-tracks, cartoons, photographs — to every kind of literature or documentation which might conceivably hold any political or ideological significance. Day by day and almost minute by minute the past was brought up to date. In this way every prediction made by the Party could be shown by documentary evidence to have been correct, nor was any item of news, or any expression of opinion, which conflicted with the needs of the moment, ever allowed to remain on record. All history was a palimpsest, scraped clean and reinscribed exactly as often as was necessary. In no case would it have been possible, once the deed was done, to prove that any falsification had taken place.”
“‘Comrades!’ cried an eager youthful voice. ‘Attention, comrades! We have glorious news for you. We have won the battle for production! Returns now completed of the output of all classes of consumption goods show that the standard of living has risen by no less than 20 per cent over the past year. All over Oceania this morning there were irrepressible spontaneous demonstrations when workers marched out of factories and offices and paraded through the streets with banners voicing their gratitude to Big Brother for the new, happy life which his wise leadership has bestowed upon us.”
From Zero Hedge December 29, 2014.
“The Zombiefication Of America”
“Do you know people that seem like they have had their souls sucked out of them? On dictionary.com, a “zombie” is defined as “the body of a dead person given the semblance of life, but mute and will-less, by a supernatural force, usually for some evil purpose”. And that sounds very much like what has happened to tens of millions of Americans. When you look into their eyes, it doesn’t look like anything is even there. That is because who they once were is now dominated and controlled by the overwhelmingly powerful “matrix” that is being constructed all around us.
As I wrote about the other day, virtually all news, information and entertainment that Americans consume is controlled by just six monolithic corporations. And today, Americans are more “plugged in” than ever before. The average person watches 153 hours of television a month in addition to spending countless hours watching movies, playing video games, listening to music, reading books and surfing the Internet. In the end, all of that “programming” turns many of us into virtual zombies, and that is the way that the elite like it.”
“If you put garbage in, you are eventually going to get garbage out.
Meanwhile, Americans are becoming increasingly disinterested in things that really matter such as faith, family and the U.S. Constitution.
Instead, many of our spoiled young people are self-obsessed narcissists that loudly complain on social media when they don’t get the electronic gadgets that they were expecting for Christmas.
It isn’t the end of the world if “Santa” doesn’t bring you the latest iPhone.
But Americans today, especially our young people, have such a warped view of reality. It begins at a very early age, and one of the biggest culprits is our public school system.
For instance, the Blaze recently reported that children down in Texas are being taught that the pilgrims were “essentially America’s first terrorists” and that they should listen to their teachers more than they listen to their parents…
Cassidy Vines was so horrified by what a teacher in Texas allegedly told her that she is planning on home-schooling her daughter after Christmas break.
Vines told Glenn Beck on Monday that she recently began noticing a change in her daughter’s behavior. Her daughter — who is in kindergarten — started to “snap” at her when she corrected her homework, saying “I’m her mommy, not her teacher.”
Vines said a few days after her daughter first snapped at her, she started pronouncing a word incorrectly. Vines corrected her daughter “in the most gentle way possible,” but she said her daughter broke down crying, saying “that’s how she was taught, and I can’t tell her something different because I’m a mommy, not a teacher.”
Vines said she was horrified and asked, “Is somebody telling you this at school?”
“She said, ‘Yes, I’m only allowed to learn from my teacher,’” Vines remarked.
In this day and age, our public schools have essentially become government indoctrination centers that train our children to let “the matrix” do their thinking for them. They are taught that they are just highly evolved animals that are here only as the result of a giant cosmic accident, and that morality and values are all relative.
As a result, many of our young people just do whatever is right in their own eyes, and at this point many of them have consciences that have been seared beyond recognition.
NC labor force participation rate plummets 5 percent from May 2008 to November 2014, Unemployment rate same, Baby boomers retiring not cause of labor force drop, Lack of jobs causes younger people to remain or return to school
“For now, the absence of young adults from the housing market continues to put a dent in the homeownership rate, which dropped to 64.8% in the first quarter, compared with 65.2% in the fourth quarter of 2013, according to U.S. Census statistics. The rate was as high as 69.2% in the fourth quarter of 2004. For those younger than 35, the rate has fallen noticeably faster. It slipped to 36.2% in the first quarter, from 36.8% in the fourth. The homeownership rate for this group was as high as 43.6% in the second quarter of 2004.”…Market Watch May 12, 2014
“The share of families with an employed member was unchanged at 80.0 percent in 2013. The likelihood of having an employed family member rose in 2013 for Asian families (to 88.8 percent) and for Hispanic families (to 85.1 percent). The likelihood for white and black families showed little or no change (80.1 percent and 75.7 percent, respectively).”…BLS report, April 25, 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Despite what you may have read from the low information mainstream media, baby boomers retiring are not the cause of the drop in the labor force in NC or US.
Do the math or read prior articles at Citizen Wells.
Lack of jobs is the problem.
From May of 2008 to November of 2014, the labor force participation rate plummeted 5 percent in NC. The unemployment rate is the same.
From NC Spin December 20, 2014.
“North Carolina’s jobless rate fell to 5.8 percent in November, the lowest since May 2008, as the state’s economy gains force in the second half of the year.
The state’s jobless rate fell from 6.3 percent in October and has dropped from 7.4 percent one year ago, even though today’s wages have not caught up to pre-recession pay levels.
North Carolina’s unemployment rate, which has lagged the national average, matched the U.S. rate in November, but the nation as a whole dropped below 6 percent two months ahead of North Carolina.
The job market data was issued Friday by the Labor & Economic Analysis Division within the N.C. Department of Commerce.
North Carolina gained 16,400 jobs in November and 110,700 in the first 11 months of the year. The last time the state gained jobs at this rate was in 2006, when 129,500 jobs were added.”
“The state’s labor force shrunk 0.2 percent in November, losing 13,534 people. Over the past year, the labor force has shrunk 0.7 percent, for a reduction of 31,665 people.
A shrinking labor force will drive down the unemployment rate because fewer people are looking for work.
N.C. State University economist Michael Walden said the labor force shrinkage is a national issue caused by a trifecta of factors. Baby boomers are retiring. Students are staying in college longer before entering the workforce.”
“Additionally, private sector earnings and household income in the state, adjusted for inflation, are down since 2008.
“People are poorer today than they were on average before the recession,” Walden said.”
American household net worth plummets 39.4 percent in Obama Democrat economy, Black households hit hardest, All households since recovery reduced ownership of homes stocks and business equity, Pew Research
“For now, the absence of young adults from the housing market continues to put a dent in the homeownership rate, which dropped to 64.8% in the first quarter, compared with 65.2% in the fourth quarter of 2013, according to U.S. Census statistics. The rate was as high as 69.2% in the fourth quarter of 2004. For those younger than 35, the rate has fallen noticeably faster. It slipped to 36.2% in the first quarter, from 36.8% in the fourth. The homeownership rate for this group was as high as 43.6% in the second quarter of 2004.”…Market Watch May 12, 2014
“The share of families with an employed member was unchanged at 80.0 percent in 2013. The likelihood of having an employed family member rose in 2013 for Asian families (to 88.8 percent) and for Hispanic families (to 85.1 percent). The likelihood for white and black families showed little or no change (80.1 percent and 75.7 percent, respectively).”…BLS report, April 25, 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
From 2007 to 2008 the Democrats controlled both houses of Congress.
From 2009 to 2010 they also controlled the White House.
The Democrats in lock step with Obama were instrumental in destroying the economy and household wealth.
From Pew Research December 12, 2014.
“Wealth inequality has widened along racial, ethnic lines since end of Great Recession”
“The Great Recession, fueled by the crises in the housing and financial markets, was universally hard on the net worth of American families. But even as the economic recovery has begun to mend asset prices, not all households have benefited alike, and wealth inequality has widened along racial and ethnic lines.
The wealth of white households was 13 times the median wealth of black households in 2013, compared with eight times the wealth in 2010, according to a new Pew Research Center analysis of data from the Federal Reserve’s Survey of Consumer Finances. Likewise, the wealth of white households is now more than 10 times the wealth of Hispanic households, compared with nine times the wealth in 2010.
Wealth Gaps by RaceThe current gap between blacks and whites has reached its highest point since 1989, when whites had 17 times the wealth of black households. The current white-to-Hispanic wealth ratio has reached a level not seen since 2001. (Asians and other racial groups are not separately identified in the public-use versions of the Fed’s survey.)
Leaving aside race and ethnicity, the net worth of American families overall — the difference between the values of their assets and liabilities — held steady during the economic recovery. The typical household had a net worth of $81,400 in 2013, according to the Fed’s survey — almost the same as what it was in 2010, when the median net worth of U.S. households was $82,300 (values expressed in 2013 dollars).
The stability in household wealth follows a dramatic drop during the Great Recession. From 2007 to 2010, the median net worth of American families decreased by 39.4%, from $135,700 to $82,300. Rapidly plunging house prices and a stock market crash were the immediate contributors to this shellacking.”
“A number of factors seem responsible for the widening of the wealth gaps during the economic recovery. As the Federal Reserve notes, the median income of minority households (blacks, Hispanics and other non-whites combined) fell 9% from its 2010 to 2013 surveys, compared with a decrease of 1% for non-Hispanic white households. Thus, minority households may not have replenished their savings as much as white households or they may have had to draw down their savings even more during the recovery.”
“All American households since the recovery have started to reduce their ownership of key assets, such as homes, stocks and business equity. But the decrease in asset ownership tended to be proportionally greater among minority households. For example, the homeownership rate for non-Hispanic white households fell from 75.3% in 2010 to 73.9% in 2013, a percentage drop of 2%. Meanwhile, the homeownership rate among minority households decreased from 50.6% in 2010 to 47.4% in 2013, a slippage of 6.5%.”
Citizen WElls 