IHS study 75 percent of jobs added go to Hispanics by 2034, Citizen Wells news flash, They already are!, 75% of Obama jobs added went to Hispanics/Latinos
“Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000, 75 percent, were Hispanic/Latino!”…Citizen Wells
“In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.”…Economic Policy Institute May 1, 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
I’ve got a news flash for IHS and Americans.
75 percent of Obama jobs, since he took office in January 2009, went to Hispanics and Latinos.
Straight from the US Labor Department.
This is one of the reasons millennials are hurting.
“Hispanics Will Account for More Than 40 Percent of the Increase in U.S. Employment in the Next Five Years, IHS Study Says
Share of job growth will rise to more than 75 percent from 2020 to 2034”
“The Hispanic population will play an increasingly significant role in future U.S. employment growth, accounting for more than 40 percent of growth in the next five years and more than 75 percent between 2020 and 2034 – an increase of 11 million jobs out of an economy-wide gain of 14 million –according to a new study from IHS Inc. (NYSE: IHS), a leading global source of critical information and insight.
The IHS study, Hispanic Immigration and U.S. Economic Growth, projects that Hispanic employment growth will average 2.6 percent per year over the next 20 years. At the same time, growth of the non-Hispanic working age population will slow to near zero, and new non-Hispanic entrants to the labor force will barely offset retiring Baby Boomers. As a result, the Hispanic share of total U.S. employment will rise from 16 percent in 2014 to 23 percent in 2034.
Other key findings include:
Immigration will play a key role in future U.S. employment growth. By 2020, labor force growth is expected to slow to the point that the annual change in the labor force is roughly equal to the amount of net migration.
Despite a generally positive long-term economic outlook for Latin American countries, the U.N. projects continuing net outmigration from the 10 Latin American countries and Puerto Rico that are the primary countries of origin of the foreign-born U.S. Hispanic population.
According to U.S. Census Bureau assumptions about future Hispanic net international migration, the number of foreign born Hispanics will grow from 22 million in 2014 to over 29 million in 2034, and the foreign-born share of the Hispanic population will fall slowly over this period – from 39.7% to 34.8%.
The number of Hispanics that speak Spanish in the home will rise from 36.9 million in 2014 to 55.4 million in 2034.
Higher levels of immigration are conducive to stronger U.S. economic growth, and there are credible scenarios for higher levels of Hispanic immigration than assumed in the study’s baseline forecast.”
Janet Yellen millennials a mystery, Citizen Wells schools Yellen, Student debt and jobs, Influx of illegals impacting job market, 75 percent of Obama jobs went to Hispanics Latinos, High unemployment rates for young Americans
“Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000, 75 percent, were Hispanic/Latino!”…Citizen Wells
“In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.”…Economic Policy Institute May 1, 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Janet Yellen testified before congress today, February 24, 2015.
“Current Economic Situation and Outlook
Since my appearance before this Committee last July, the employment situation in the United States has been improving along many dimensions. The unemployment rate now stands at 5.7 percent, down from just over 6 percent last summer and from 10 percent at its peak in late 2009. The average pace of monthly job gains picked up from about 240,000 per month during the first half of last year to 280,000 per month during the second half, and employment rose 260,000 in January. In addition, long-term unemployment has declined substantially, fewer workers are reporting that they can find only part-time work when they would prefer full-time employment, and the pace of quits–often regarded as a barometer of worker confidence in labor market opportunities–has recovered nearly to its pre-recession level. However, the labor force participation rate is lower than most estimates of its trend, and wage growth remains sluggish, suggesting that some cyclical weakness persists. In short, considerable progress has been achieved in the recovery of the labor market, though room for further improvement remains.
At the same time that the labor market situation has improved, domestic spending and production have been increasing at a solid rate. Real gross domestic product (GDP) is now estimated to have increased at a 3-3/4 percent annual rate during the second half of last year. While GDP growth is not anticipated to be sustained at that pace, it is expected to be strong enough to result in a further gradual decline in the unemployment rate. Consumer spending has been lifted by the improvement in the labor market as well as by the increase in household purchasing power resulting from the sharp drop in oil prices. However, housing construction continues to lag; activity remains well below levels we judge could be supported in the longer run by population growth and the likely rate of household formation.”
“Millennials are a bit of a mystery to Janet Yellen.
The head of the U.S. Federal Reserve said Tuesday that the behavior of millennials — which typically refers to a generation of people born in the 80s and 90s — has top economists scratching their heads.
“I think we’re just beginning to understand how the millennials are behaving,” Yellen said before the Senate Banking Committee. “They’re certainly waiting longer to buy houses; to get married. They have a lot of student debt. They seem quite worried about housing as an investment. They’ve had a tough time in the job market.”
As the economy continues to gain strength, Yellen said she expects more millennials to buy homes and start families. “But,” she quipped, “we’ve yet to really see how this is going to affect that generation.””
The problem with the percent of population employed is the increase of people over 16 in this country.
The US Labor Dept. states that we have approx. 15.5 million more since January 2009.
Those turning 16 each year netted by those dying adds approx. 1.5 million a year which totals 9 million since 2009.
From The Daily Caller February 23, 2015.
“But Obama has used his power over the immigration agencies to minimize enforcement of immigration laws. Since 2009, Obama’s senior deputies have repeatedly instructed his immigration agencies to reduce enforcement of immigration laws. For example, since 2009, his aides have given work-permits and temporary residency to 4.7 million migrants, including illegal immigrants, tourists, guest-workers and students.
That 4.7 million is in addition to the annual inflow of 1 million legal immigrants. Roughly 4 million American youths enter the workforce each year.”
“This paper’s title, The Class of 2014, is admittedly something of a misnomer, as we do not yet know the labor market outcomes of these soon-to-be graduates. However, the outcomes of recent high school and college graduates provide a good sense of the labor market conditions the young men and women graduating this spring will face. This briefing paper examines the labor market that confronts young graduates who are not enrolled in further schooling—specifically, high school graduates age 17–20 and college graduates age 21–24. We look at young graduates who are not enrolled in further schooling in an attempt to focus as closely as possible on the labor market outcomes of those who are starting their careers. ”
“Key findings include:”
“In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.
Unemployment and underemployment rates among young graduates are improving but remain substantially higher than before the recession began.
For young college graduates, the unemployment rate is currently 8.5 percent (compared with 5.5 percent in 2007), and the underemployment rate is 16.8 percent (compared with 9.6 percent in 2007).
For young high school graduates, the unemployment rate is 22.9 percent (compared with 15.9 percent in 2007), and the underemployment rate is 41.5 percent (compared with 26.8 percent in 2007).
Overall unemployment rates of young graduates mask substantial disparities in unemployment by race and ethnicity. The unemployment rates of blacks and Hispanics are substantially higher than the unemployment rates of white non-Hispanics, for both young high school graduates and young college graduates.
The large increases since 2007 in the unemployment and underemployment rates of young college graduates, and in the share of employed young college graduates working in jobs that do not require a college degree, underscore that the current unemployment crisis among young workers did not arise because today’s young adults lack the right education or skills. Rather, it stems from weak demand for goods and services, which makes it unnecessary for employers to significantly ramp up hiring.
The long-run wage trends for young graduates are bleak, with wages substantially lower today than in 2000. Since 2000, the real (inflation-adjusted) wages of young high school graduates have dropped 10.8 percent, and those of young college graduates have dropped 7.7 percent.
The erosion of job quality for young graduates is also evident in their declining likelihood of receiving employer-provided health insurance or pensions.
Graduating in a bad economy has long-lasting economic consequences. For the next 10 to 15 years, those in the Class of 2014 will likely earn less than if they had graduated when job opportunities were plentiful.”
“Going to college usually leads to better jobs and better pay, but it’s also left many people dangerously in debt and unable to buy a house years after they leave school.
A pair of reports in the past two days illustrate the point. The percentage of student loans at least 90 days overdue rose to 11.3% from 11.1% in the final three months of 2014, the New York Federal Reserve said Tuesday.
While delinquencies have fallen from a record 11.8% in 2013, they are still almost twice as high as they were 10 years earlier.
Then on Wednesday the government reported that construction of new homes fell slightly to a 1.06 million annual pace in January. While sales have been rising gradually, they still aren’t increasing nearly as fast as expected almost six years into an recovery. And the percentage of buyers purchasing their first home is still unusually low.
In a fully functioning economy, housing starts should be running around 1.4 million to 1.8 million a year, analysts estimate.
Clearly the weight of student loans is too heavy for many young people to buy a single-family home. Many can’t qualify for a loan in an era of tougher lending standards or afford the monthly cost of a mortgage.”
14 Signs That Most Americans Are Flat Broke, Millions out of work or working part time jobs, 30.3 percent of millenials live with family members, 75 percent of Obama jobs went to Hispanics and Latinos, Record numbers get government assistance
“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″
I was preparing another article about the testimony of Janet Yellen when I ran across a hard hitting article from Zero Hedge.
She is clueless and/or being controlled.
She apparently doesn’t understand the plight of millenials.
Or the average American.
Am I the only one reporting that 75 percent of the Obama jobs added went to Hispanics/Latinos?
This comes straight from the US Labor Department data.
How about telling Rush Limbaugh, Sean Hannity.
We all know how bad the economy is.
We or people we know are getting clobbered and we are tired of being told about the recovery.
From Zero Hedge February 24, 2015.
“14 Signs That Most Americans Are Flat Broke And Totally Unprepared For The Coming Economic Crisis”
“The following are 14 signs that most Americans are flat broke and totally unprepared for the coming economic crisis…
#1 According to a survey that was just released, 24 percent of all Americans have more credit card debt than emergency savings.
#2 That same survey discovered that an additional 13 percent of all Americans do not have any credit card debt, but they do not have a single penny of emergency savings either.
#3 At this point, approximately 62 percent of all Americans are living paycheck to paycheck.
#4 Adults under the age of 35 in the United States currently have a savings rate of negative 2 percent.
#5More than half of all students in U.S. public schools come from families that are poor enough to qualify for school lunch subsidies.
#6 A study that was conducted last year found that more than one out of every three adults in the United States has an unpaid debt that is “in collections“.
#7 One survey discovered that 52 percent of all Americans really cannot even financially afford the homes that they are living in right now.
#8 According to research conducted by Atif Mian of Princeton University and Amir Sufi of the University of Chicago Booth School of Business, 40 percent of Americans could not come up with $2000 right now without borrowing it.
#9 That same study found that 60 percent of Americans could not say yes to the following question…
“Do you have 3 months emergency funds to cover expenses in case of sickness, job loss, economic downturn?”
#10 A different study discovered that less than one out of every four Americans has enough money stored away to cover six months of expenses.
#11 Today, the average American household is carrying a grand total of 203,163 dollars of debt.
#12 It is estimated that less than 10 percent of the entire U.S. population owns any gold or silver for investment purposes.
#1348 percent of all Americans do not have any emergency supplies in their homes whatsoever.
#1453 percent of all Americans do not even have a minimum three day supply of nonperishable food and water in their homes.”
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.”
“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.”
AP January jobs economy report lies inaccuracies misleading statements, Greensboro News Record regurgitates, Sloppy reporting bias or Orwellian lies?
“The (American) press, which is mostly controlled by vested
interests, has an excessive influence on public opinion.”… Albert Einstein
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”
Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984”
*** See footnote below ***
*** Update below ***
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.
From the Greensboro News Record February 7, 2015.
“Job gains reflect growing recovery
WASHINGTON — A resurgent job market in January signaled that the U.S. economy is finally regaining the kind of strength typical of a healthy recovery — with hiring accelerating, wages rising and people who had given up their job hunts starting to look again.
Freer-spending consumers and steady economic expansion have boosted hiring for the past three months to the most robust pace in 17 years.
In January, employers added 257,000 jobs, after 329,000 in December and a sizzling 423,000 jobs in November, the government reported Friday. The November and December gains were much higher than the government had first estimated.
“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,” said Bill Hampel, chief economist at the Credit Union National Association. “The benefits for the middle class are now solidifying.”
The average hourly wage rose 12 cents to $24.75 in January, a jump of 0.5 percent — the sharpest since 2008. In the past year, hourly pay, which has long been stagnant, has risen 2.2 percent. That’s well above inflation, which rose just 0.8 percent in 2014.
The accelerating job and pay growth now make it more likely that the Federal Reserve will begin raising the short-term interest rate it controls by midyear.
Paul Ashworth, chief U.S. economist at Capital Economics, predicts that the Fed will raise rates from record lows in June.
Investors responded to the better-than-expected figures by selling U.S. Treasurys, sending yields up, a sign that many think a Fed rate hike might be more imminent than they thought before. The yield on the 10-year Treasury note rose to 1.94 percent from 1.81 percent shortly before the jobs report was released.
Stock investors appeared nervous about a Fed rate increase, which could pull down stock prices. The Dow Jones industrial average closed down 60 points, or 0.3 percent, to 17,824.
The unemployment rate rose last month to 5.7 percent from 5.6 percent. But that occurred for a good reason: More than 700,000 Americans — the most in six years — began looking for jobs. Not all of them found work, which swelled the number of unemployed. The influx of job hunters suggested that Americans have grown more confident about their prospects.
Fueling the burst of hiring has been a pickup in economic growth and falling gas prices that offered Americans more money to spend. The economy expanded at a 4.8 percent annual rate during spring and summer, the fastest six-month pace in a decade, before slowing to a still-decent 2.6 percent pace in the final three months of 2014.
There are now 3.2 million more Americans earning paychecks than there were 12 months ago. That additional cash tends to boost consumer spending, which drives about 70 percent of economic growth.
Americans are feeling better about the economy. Consumer confidence jumped in January to its highest level in 10 years, according to a survey by the University of Michigan. And consumers increased their spending during the final three months of last year at the fastest pace in nearly nine years.
A more confident, free-spending consumer could lend a spark that had been missing for most of the 5½-year-old recovery. Americans have been largely holding the line on spending and trying to shrink debt loads. Signs that they’re poised to spend more have boosted optimism that the economy will expand over 3 percent this year for the first time in a decade.
Retailers added 45,900 jobs in January, hotels and restaurants 37,100.
Though jobs in those industries typically offer lower wages, companies have boosted pay as they have scrambled to fill openings. Hourly pay has risen 3 percent in the past year for retailers and 3.4 percent for hotel and restaurant employees.”
The employment numbers used below come straight from the US Labor Department.
It is important to note that every January the Labor Dept. rectifies ( A term used in “1984” ) the data.
Beside each January you will find “1 : Data affected by changes in population controls.”
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.
Misleading: “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,” “The benefits for the middle class are now solidifying.”
Misleading: “More than 700,000 Americans — the most in six years — began looking for jobs. Not all of them found work, which swelled the number of unemployed. The influx of job hunters suggested that Americans have grown more confident about their prospects.” That is all conjecture. Remember from above: “1 : Data affected by changes in population controls.”
Did you know?
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.
According to Gallup CEO Jim Clifton, the unemployment rate is a big lie.
“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.”
The consumer spending noted in the AP report is inaccurate as well, but after seeing the jobs misportrayed, you will not find that surprising.
Reread the article above and see if it squares with the facts and let those reporting this Orwellian crap know that you do not appreciate it.
As noted above, there are millions of young people entering the labor force each year and getting disproportionately clobbered by the economy and jobs market. More on this to come.
*** Footnote added 9:45 AM ***
The Labor Dept. shows approx 15 and a half million more people added to the employment population since Jan 2009.
Obviously some of those are aliens, legal or illegal.
*** Update Feb 23, 7:40 AM ***
I meant to include this important “rectification” to the AP article.
“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.
Amnesty puts nail in coffin of US jobs, 75 percent of Obama jobs went to Hispanics Latinos, Percent of white Americans working plummeted since 2006, S.744 hurts the American worker
“75 percent of the Obama jobs added since Jan. 2009 went to Hispanics and Latinos.”…Citizen Wells February 11, 2015
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“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″
From Citizen Wells February 11, 2015.
“75 percent of Obama jobs added since Jan. 2009 have gone to Hispanics and Latinos.
Don’t take my word for it.
Look it up on the BLS website.
Of the total of 6,049,000 more Americans employed since January 2006, 4,511,000 was for Hispanics and Latinos.
Why is this not being reported?”
“From the Center for Immigration Studies June 2014.”
“Government data show that since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal). This is remarkable given that native-born Americans accounted for two-thirds of the growth in the total working-age population. Though there has been some recovery from the Great Recession, there were still fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level.”
Remember that 4 percent lower percent of the population employed that I clarified for Goldman Sachs chief economist Jan Hatzius?
You know, that baby boomers have nothing to do with the drop.
10 million fewer white Americans were in the labor force in Jan. 2015 than Jan. 2006.
From Five Thirty Eight.
“But the wounds of the recession are far from fully healed. Total payrolls remain more than 400,000 below their prior peak due to deep cuts in the number of government workers, especially at the state and local level. And the adult population (16 years and older) has grown by 14 million since the recession began, meaning the U.S. job market is nowhere close to fully recovered on a per-capita basis. The long-term unemployment crisis drags on, the legacy of what is by some measures the slowest recovery since World War II.”
“S.744 does not prioritize the American worker at a time when 22 million Americans are unemployed or underemployed. Instead, S.744 hurts the American worker:
29. S.744 doubles legal immigration within a decade after enactment—and triples it if you include the 12 million amnestied illegal aliens. This is the equivalent of adding the population of Canada – nearly 34 million people, virtually all of whom will need jobs—in a decade. Moreover, this estimate relates to legal permanent residents only, not temporary workers. (See FAIR’s estimate by category of admission)
30. S.744 increases the number of guest workers by 50 percent over the decade after enactment. (See FAIR’s estimate by category of admission)
31. S.744 creates a new unskilled guest worker program, through a new W visa, to bring in up to 200,000 additional workers each year. (Sec. 4703, p. 834)
32. S.744 triples the number of so-called skilled (H-1B) guest workers who may enter the U.S. annually. (Sec. 4101, p. 674)
33. S.744 also grants work authorization to the spouses of H-1B and W visa holders.
34. S.744 exempts immigrants (green card holders) with advanced degrees in science, technology, engineering and math, also referred to as STEM fields, from the cap on employment-based immigration. This will dramatically increase competition for Americans entering or working in those fields. (Sec. 2307, p. 315-16)”
“The House of Representatives has passed a bill that would fund the Department of Homeland Security except for President Obama’s executive amnesty program. Now, the Senate is stonewalling, with Democrats voting repeatedly not to take up the bill, insisting instead that Republicans pass a bill funding the executive amnesty along with the rest of the DHS.
Which means that we’re nearing Republican surrender.”
75 percent of Obama jobs added go to Hispanic Latinos, Many low paying part time jobs, BLS reveals 6.049 million jobs added since Jan 2009, No white American jobs added since 2006, Obama lies, Why Amnesty Bill must be defeated
“75 percent of the Obama jobs added since Jan. 2009 went to Hispanics and Latinos.”…Citizen Wells February 11, 2015
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“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″
75 percent of Obama jobs added since Jan. 2009 have gone to Hispanics and Latinos.
Don’t take my word for it.
Look it up on the BLS website.
Of the total of 6,049,000 more Americans employed since January 2006, 4,511,000 was for Hispanics and Latinos.
Why is this not being reported?
The Wall Street Journal reported on December 5, 2014.
“The economy has 5.7 million more jobs today than when Mr. Obama took office in January of 2009. That puts his total job creation ahead of presidents John Kennedy,Gerald Ford, and George H.W. Bush, who each served one term or less. It also puts him well ahead of President George W. Bush, whose final year in office also comprised the beginning to the longest and deepest recession since the Great Depression.”
“The labor market is clearly improving, but due in large part to the terrible economy when Mr. Obama took office, his presidency will probably be unable to catch up with those who presided during job booms.”
They mention the fact that congress is more responsible but fail to mention that the Democrats took control of both houses in Jan. 2007 and that is when the economy began going downhill.
Why doesn’t the WSJ mention that 75 % of the jobs added went to Hispanics and Latinos?
Here is a good article about the growth in the Hispanic workforce.
From the Center for Immigration Studies June 2014.
“Government data show that since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal). This is remarkable given that native-born Americans accounted for two-thirds of the growth in the total working-age population. Though there has been some recovery from the Great Recession, there were still fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level.”
BLS percent of population working reveals Hispanic growth, Whites getting screwed, No white job gains in 8 years, Dr. Ada Fisher NC GOP on immigration hurting Blacks, 26 percent hispanic job growth
“Since 2006, the Hispanic/Latino employed number has skyrocketed 26 percent.”…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
“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″
What I am about to report to you comes straight from the US Labor Department BLS.
I do not make up numbers and I endeavor to report the facts.
A big lie is being repeated.
The impact of baby boomers on employment.
The baby boomers have zero impact on the percent of population employed.
Zero!
The mainstream media, including CNBC has done their best to protect Obama and obfuscate the employment situation.
Last Friday, after the January jobs data was released, Chief Economist at Goldman Sachs Jan Hatzius was interviewed.
Mr. Hatzius referred to the 4 percent drop in the percent of population working since 2006.
He stated that the baby boomers could account for 2 percent of that.
I carried on an email exchange with Jan Hatzius over the weekend.
He stayed with his 2 percent assertion but did state that we need jobs.
From Citizen Wells February 9, 2015.
“The problem is clearly not baby boomers.
The problem is that the Obama administration has been focusing on trying to recover jobs lost during the recession.
What is not being addressed or reported is the number of new workers being added.
Each year since 2006 we have added a net average of approx. 1.5 million workers over age 16.
Each year we have added approx 3.9 new 16 year olds.
Each year we have averaged approx 2.4 million deaths.
That nets to 1.5 million.
That totals approx. 12 million new workers since 2006.
And God only knows how many new illegal alien workers we have.
Choose your own number.
This easily explains the drop in the percent of population working.
Since 2006, the Hispanic/Latino employed number has skyrocketed 26 percent!
The black employed number has jumped 10 percent.
Are you ready?
The white employed number has not increased!
In fact it has dropped slightly.
There were 118,148 employed in January 2006.
There were 118,035 employed in January 2015.
From the Citizen Wells article above we learn that approx. 12 million people were added to the labor force via the net of the population becoming 16 and those dying each year.
Approx 1.5 million were added each year excluding immigration.
This accounts for much of the drop in the percent of population working since 2006.
It also adds credence to the following.
From the Center for Immigration Studies August 2014.
“An analysis of government data by the Center for Immigration Studies shows that, since 2000, all of the net increase in the number of working-age (16 to 65) people holding a job in North Carolina has gone to immigrants (legal and illegal).
This is the case even though the native-born accounted for 61 percent of growth in the state’s total working-age population.”
Drop in percent of population working easily explained, Not baby boomers, 1.5 million net new working age each year, Illegal immigrants, Not enough jobs added, Trying to replace jobs lost not keeping up with growth
“What we are addressing is simple.
The percent of people employed in 2006 vs now.
It does not matter what the mix of age groups employed is.
The problem is that there are not enough jobs now of the right type to give the same ratio as in 2006.”…Citizen Wells email to economist Jan Hatzius
“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″
This is a follow up to ongoing reports at Citizen Wells about the real jobs situation and remarks recently made Goldman Sachs chief economist Jan Hatzius on CNBC and in email exchanges with me this past weekend.
Jan Hatzius stated of the 4 percent drop in the percent of population working since 2006 that 2 percent is attributable to baby boomers.
I responded that was incorrect.
I stand by that assertion.
From Citizen Wells February 8, 2015.
“Following the January jobs report, Goldman’s chief economist Jan Hatzius appeared on CNBC but instead of joining Steve Liesman in singing the praises of the “strong” the report (which apparently missed the memo about the crude collapse), he decided to do something totally different and instead emphasize the two series that none other than Zero Hedge has been emphasizing for years as the clearest indication of what is really happening with the US labor market: namely the recession-level civilian employment to population ratio and the paltry annual increase in average hourly earnings.
This is what Hatzius said (2:40 into the clip):
“The employment to population ratio is still 4% below where it was in 2006. You can explain 2% of that with the aging of the population that still leaves quite a lot of room potentially, and the wage numbers are telling us we are just not that close, although we are getting closer.””
“I sent the following email to Jan Hatzius.
I have not yet received a response.
Hi.
I have a math, computer science & business background.
I am also one of the baby boomers.
You recently appeared on CNBC & stated:
“The employment to population ratio is still 4% below where it was in 2006. You can explain 2% of that with the aging of the population that still leaves quite a lot of room potentially, and the wage numbers are telling us we are just not that close, although we are getting closer.”
Would you elaborate on:
“You can explain 2% of that with the aging of the population”
I am preparing an article
and want to be accurate.
Thanks
Wells
”
“Jan Hatzius did respond in less than 24 hours and we debated via email the validity of his statement:
“You can explain 2% of that with the aging of the population”
I will not present the entire exchange unless he requests it.
Here are our ending remarks.”
“Mine:”
“Apples and oranges.
The studies that you quote are projections done in 2006, not historical analysis.
I am not questioning the projections.
They are projections probably done by competent people using the best data available.
But they are projections, not history, done before probably the biggest anomaly in recorded US job history.
What we are addressing is simple.
The percent of people employed in 2006 vs now.
It does not matter what the mix of age groups employed is.
The problem is that there are not enough jobs now of the right type to give the same ratio as in 2006.
The problem is exacerbated by too many part time jobs which yield a result of too many people working multiple jobs.
Thanks
Wells”
Jan Hatzius:
“It is also true that there are not enough jobs. That’s why I said population aging accounts for 2 of the 4 percentage points of decline, not for the entire decline.
Best regards,
Jan””
Economist Jan Hatzius baby boomer impact debate with Citizen Wells, Drop in percent of population working, Email debate, Both agree not enough jobs, 2 percent allegation in CNBC interview
“The road to hell is paved with good intentions.”…Karl Marx
“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″
Goldman Sachs chief economist Jan Hatzius was interviewed on CNBC on Friday, February 6, 2015 after the January jobs report.
From Citizen Wells February 7, 2015.
From Zero Hedge February 6, 2015.
“Following the January jobs report, Goldman’s chief economist Jan Hatzius appeared on CNBC but instead of joining Steve Liesman in singing the praises of the “strong” the report (which apparently missed the memo about the crude collapse), he decided to do something totally different and instead emphasize the two series that none other than Zero Hedge has been emphasizing for years as the clearest indication of what is really happening with the US labor market: namely the recession-level civilian employment to population ratio and the paltry annual increase in average hourly earnings.
This is what Hatzius said (2:40 into the clip):
“The employment to population ratio is still 4% below where it was in 2006. You can explain 2% of that with the aging of the population that still leaves quite a lot of room potentially, and the wage numbers are telling us we are just not that close, although we are getting closer.””
I have a math, computer science & business background.
I am also one of the baby boomers.
You recently appeared on CNBC & stated:
“The employment to population ratio is still 4% below where it was in 2006. You can explain 2% of that with the aging of the population that still leaves quite a lot of room potentially, and the wage numbers are telling us we are just not that close, although we are getting closer.”
Would you elaborate on:
“You can explain 2% of that with the aging of the population”
Jan Hatzius did respond in less than 24 hours and we debated via email the validity of his statement:
“You can explain 2% of that with the aging of the population”
I will not present the entire exchange unless he requests it.
Here are our ending remarks.
Mine:
“Thanks for your response.
I have no wish to be unkind to you.
However, I consider it a “sacred” duty to report the truth, facts.
For what it is worth, I have much German ancestry and was baptized and raised in the Lutheran Church.
I even worked as VP of Administration for a German company in the US circa 1983.
Apples and oranges.
The studies that you quote are projections done in 2006, not historical analysis.
I am not questioning the projections.
They are projections probably done by competent people using the best data available.
But they are projections, not history, done before probably the biggest anomaly in recorded US job history.
What we are addressing is simple.
The percent of people employed in 2006 vs now.
It does not matter what the mix of age groups employed is.
The problem is that there are not enough jobs now of the right type to give the same ratio as in 2006.
The problem is exacerbated by too many part time jobs which yield a result of too many people working multiple jobs.
Thanks
Wells”
Jan Hatzius:
“It is also true that there are not enough jobs. That’s why I said population aging accounts for 2 of the 4 percentage points of decline, not for the entire decline.
Best regards,
Jan”
I would like to thank Jan Hatzius again. He did not have to respond.
I will leave it to the reader to decide who is right.
However, I found an article that may provide insight.
From Fortune November 6, 2012.
“Obama’s best friend at Goldman Sachs”
“To be sure, the German-born Hatzius hasn’t publicly stated that he supports the President. But his analysis, which is widely read in financial circles, has long jibed with the monetary and fiscal policies embraced by Democrats. In numerous notes published over the last few years, Hatzius has advocated stimulus spending and called for more quantitative easing, renouncing efforts to slash the deficit as premature.”
“Hatzius’ views have endeared him to the likes of liberal economist Paul Krugman, who has mentioned the Goldmanite nearly a dozen times in his New York Timesblog. Krugman has repeatedly referred to Hatzius’ group as “excellent,” calling the economist a “very calm, measured guy.” Back in 2009, he noted that Hatzius’ analysis was “spot on.””
“Hatzius sounded warnings about the housing market as early as 2005, when he published a report that asked “Bubble Trouble? Probably Yes.” In December of 2007, the economics writer Ben Stein criticized Hatzius in the New York Times for his gloomy prognostications, accusing the economist of fear-mongering in order to support Goldman’s bearish position.
Stein (incorrectly) mocked Hatzius for his view that the subprime mortgage crisis could spin out of control, hampering lending and slowing growth. “He is also postulating,” Stein wrote, “that lenders would have to retrench so deeply that lending would stall and growth would falter — an event that, again, has not happened on any scale in the postwar world, except when planned by the central bank.” (The piece, available here, is worth reading for its comedic value alone).”
“The reason that we have a 4 percent drop in the p of p, percent of population, working is that we do not enough jobs and
good full time jobs to maintain the same ratio.
The problem is exacerbated by too many part time jobs which yield a result of too many people working multiple jobs.
In 2006 we knew how the population was growing in terms of births and deaths with some anticipated immigration.
We did not know that the economy was going to collapse and that Obama would permit a flow of illegals to enter our country
and workforce. We also did not know that much of the job growth was going to be in part time and lower wage positions.
Regarding baby boomers and their impact on the job market.
This is being tossed about indiscriminately without justification.
We are on the leading edge of baby boomers reaching the traditional retirement age of 65.
Most of the baby boomers, which include those born up to 1964, have not reached retirement age yet.
Some people retire before that age but in recent years there has been a trend of retiring later.
Older workers generally have a more beneficial impact on the p of p ratio. Those retiring generally are retiring from a
full time job. Many of those who continue to work are in one part time job.
This yields a one to one scenario of one person to one job.
Younger people are having a more detrimental impact on the p of p ratio.
Because so many of the jobs being created are part time and/or lower wage jobs, the younger folks are working 2 or more of
these jobs.
This is hurting the ratio.
Also, unlike what you are being led to believe, there are far more of the younger people.
Let’s take the example of those turning 65 in 2014, born in 1949 and those turning 22 in 2014, born in 1992. I chose age
22 to account for college even though some of them entered the work force earlier, if they could find a job.
There were 3.56 million people born in the US in 1949. 85 % or 3.026 million are alive.
There were 4.08 million people born in 1992. Probably at least 4 million still alive.
Let’s assume that all of the people who turned 65 retired.
That is still a net gain of about a million in the workforce.
I mentioned above that in 2006 we did not know that Obama would allow so many illegal immigrants into the US.
Recently I reported about the even bigger drop in the p of p ratio in NC.
From Citizen Wells February 3, 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.
From the Center for Immigration Studies August 2014.
“An analysis of government data by the Center for Immigration Studies shows that, since 2000, all of the net increase in the number of working-age (16 to 65) people holding a job in North Carolina has gone to immigrants (legal and illegal).
This is the case even though the native-born accounted for 61 percent of growth in the state’s total working-age population.”
Citizen WElls 