Category Archives: Employment

September unemployment rate lowest since 2008?, 248k jobs added, Truth is more people dropped out of labor force than jobs added, Participation rate down 3 percent since Jan 2009, Excessive part time jobs

Posted on October 3, 2014 | 64 comments

September unemployment rate lowest since 2008?, 248k jobs added, Truth is more people dropped out of labor force than jobs added, Participation rate down 3 percent since Jan 2009, Excessive part time jobs

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

It is unbelievable to hear the distorted jobs data regurgitated by so many “news sources”, excuse me, entertainment sources.

The US Labor Department reported that the September 2014 unemployment rate dropped to 5.9 percent.

Here is an example from Market Watch.

“Unemployment falls below 6% for first time since 2008 as U.S. adds 248,000 jobs

Jobs growth accelerated in September and hiring in August was much stronger than initially reported, reflecting a U.S. economy that entered the fall with growing momentum.

The U.S. added 248,000 jobs outside the farm sector, topping the MarketWatch-compiled economist forecast of 220,000. Sustained gains in hiring, along with more people dropping out of the labor force, also pushed the U.S. unemployment rate down to 5.9% from 6.1% to mark a six-year low, the Labor Department reported Friday. The last time the jobless rate was below 6% was in 2008.”

Read more:

http://www.marketwatch.com/story/unemployment-falls-below-6-for-first-time-since-2008-as-us-adds-248000-jobs-2014-10-03

Also reported by the Labor Dept. and ignored by most reports is the following.

There were 315,000 more people not in the labor force in September. That is far more than the 248,000 jobs that were added.

The labor force participation rate at 62.7 percent is 3 percent higher than when Obama took office.

They are comparing the current unemployment rate to 2008. The rate was 5.8 percent in July 2008. However, the participation rate then was 66.1 percent.

That is 3.4 percent higher than today.

You do the math!

Also, there were 45,000 more people in September , not in the labor force who want a jobs now.

And don’t forget this from the Labor Dept.

“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.”


							

	
			

				
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Obama Fed economy brings families together, In laws and nonrelatives added to family households picked up last year, Improving economy and job growth lies exposed, Young people have higher debt and can’t afford homes


			

				Posted on September 28, 2014 | 24 comments
			


				

				
Obama Fed economy brings families together, In laws and nonrelatives added to family households picked up last year, Improving economy and job growth lies exposed, Young people have higher debt and can’t afford homes


“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


“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


We are constantly hearing from the White House and Obama controlled media about an improving economy and jobs situation.


You can fool someone with smoke and mirrors for awhile but eventually the smoke dissipates and the mirrors begin to reflect reality.


Aside from the skyrocketing use of food stamps and other public assistance, record labor force dropouts, frightening levels of student debt and subsequent inability of young people to buy homes, we have another example of the impact of Obama and Fed policies.


From Market Watch September 27, 2014


“Doubled-up homes aren’t just for couch-surfing adult kids (and reluctant parents) anymore”


“With the economy growing in fits and starts, an increase in “doubled-up” homes isn’t just young adults moving into their parents’ basements, according to a recent economic research note.


The number of in-laws and nonrelatives added to family households picked up last year, housing economist Thomas Lawler wrote in a Friday note.


“There was a substantial increase in the ‘doubling-up’ (or more) of households not attributable to ‘young adults’ moving back to their parents’ home,” he wrote.


Crunching government data, Lawler found that in 2013, the population of family households (these are homes that contain families and may include other individuals) added 577,000 householders, spouses and children — down 49% from an average annual increase of 1.1 million between 2010 and 2012. Meanwhile, the number of in-laws and other relatives added to family homes hit 663,000 in 2013, double the recent average, and non-relatives rose more than 700% to 372,000.

Here are a few other trends worth watching:


About 164,000 non-family households with at least two people were formed last year, up from average annual growth of 65,000 between 2010 and 2012.”


Read more:


http://blogs.marketwatch.com/capitolreport/2014/09/27/doubled-up-homes-arent-just-for-couch-surfing-adult-kids-and-reluctant-parents-anymore/


 



		
	
							

	
			

				
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NC unemployment rate rises .3 percent in August, Labor force participation rate drops .3, Poverty and food stamp usage rises, What recovery


			

				Posted on September 19, 2014 | 120 comments
			


				

				
NC unemployment rate rises .3 percent in August, Labor force participation rate drops .3, Poverty and food stamp usage rises, What recovery


“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


“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


I have kept the readers of Citizen Wells informed of the real employment situation in the US and NC.


Despite the best Orwellian efforts of the mainstream media and politicians to paint a brighter picture of employment I have tried my best to reveal the truth.


Recently we revealed that allegedly Illinois has the worst employment recovery in the nation.


“Illinois’ sluggish jobs recovery is coming at a tremendous cost. For every post-recession job created in Illinois, nearly two people have enrolled in the Supplemental Nutrition Assistance Program, commonly known as food stamps.


In the recession era, the number of Illinoisans dependent on food stamps has risen by 745,000. Without adequate job creation in the state, Illinois families have had no choice but to depend upon food stamps to put bread on the table.


The Prairie State has had the worst recovery from the Great Recession of any state in the U.S. There are nearly 300,000 fewer Illinoisans working today than in January 2008, and 170,000 fewer payroll jobs.”


https://citizenwells.wordpress.com/2014/09/17/obama-et-al-destroy-us-economy-as-they-did-illinois-suburban-poor-living-in-distressed-neighborhoods-grew-by-139-percent-illinois-worst-us-recovery-and-twice-as-many-food-stamp-recipients-as-new-job/


Is the NC recovery worse?


Ok folks, are you ready?


From the NC Labor and Economic Analysis Division.


The unemployment rate rose .3 percent to 6.8 and the labor force participation rate dropped .3 percent to 60.5.


You read the right.


The labor force participation rate in NC dropped 4.4 percent since Obama took the White House in January 2009.


http://esesc23.esc.state.nc.us/d4/LausSelection.aspx


And Senator Kay Hagan, who voted with Obama 96 percent of the time, continues to lie about her role in job creation.


 

							

	
			

				
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						Posted in Barack Obama, Citizen News, Citizens for the truth about Obama, CitizenWells, Employment, Jobs, Lies, NC, North Carolina, Obama, Obama administration, Obama lies, Obama Nation, Obama records, The Case Against Barack Obama, Unemployment					

								
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Obama et al destroy US economy as they did Illinois, Suburban poor living in distressed neighborhoods grew by 139 percent, Illinois worst US recovery and twice as many food stamp recipients as new jobs


			

				Posted on September 17, 2014 | 56 comments
			


				

				
Obama et al destroy US economy as they did Illinois, Suburban poor living in distressed neighborhoods grew by 139 percent, Illinois worst US recovery and twice as many food stamp recipients as new jobs


 


“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief


“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


“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


I warned you early that Obama et al would do to the US economy what they did to Illinois.


From Citizen Wells March 29, 2012.


What do Obama and John Glennon have in common aside from associations with Stuart Levine and other Chicago corruption figures?


Involvement with the IL TRS, Teachers Retirement System.


What else do they have in common?


They were both involved with the TRS in 2002 and 2003.


What is significant about these years?


2003: “Of the five funds, the one in the sorriest shape is the Illinois Teacher Retirement System, which provides the pensions for suburban and downstate teachers. Its ratio of assets to liabilities stood at a mere 52 percent last year, so poor that it was considered among the five worst-funded plans in the country.”


https://citizenwells.wordpress.com/tag/obama-doing-to-us-what-he-did-to-illinois/


From Citizen Wells October 26, 2009.


“What is the current attempt by Obama and liberal Democrats at health care reform all about?


    

  • Appeasing their far left core support.
    • 

  • More control over the American people to get votes.
    • 

  • Payback to trial lawyers and other big supporters (refer to contribution table above).
    • 

  • Achieving the goals of far left, socialist, communists who are controlling the party with the goal of redistribution of wealth..
    • 



Truth about Obama Health care Reform


WOULD YOU TRUST OBAMA, ET AL WITH YOUR AND YOUR FAMILY’S HEALTH CARE?


Please pass this story along to Glenn Beck, Sean Hannity, Rush Limbaugh and as many people as possible. The story of Alonzo Monk pleading guilty has been barely covered. The much larger story of Monk’s involvement in Illinois corruption, the impact on health care in IL and Monk’s ties to Obama is a much bigger story. And the really big story is that Obama is trying to force health care changes on this country just like Rod Blagojevich tried, for the enrichment of himself and his cronies.”


https://citizenwells.wordpress.com/2009/10/26/alonzo-monk-pleads-guilty-obama-health-care-reform-rod-blagojevich-heath-care-illinois-pay-to-play-chicago-politics-chicago-corruption-obama-cronies-monk-and-obama-ties/


Here are some more recent examples.


From Illinois Policy September 16, 2014.


“Illinois’ sluggish jobs recovery is coming at a tremendous cost. For every post-recession job created in Illinois, nearly two people have enrolled in the Supplemental Nutrition Assistance Program, commonly known as food stamps.


In the recession era, the number of Illinoisans dependent on food stamps has risen by 745,000. Without adequate job creation in the state, Illinois families have had no choice but to depend upon food stamps to put bread on the table.


The Prairie State has had the worst recovery from the Great Recession of any state in the U.S. There are nearly 300,000 fewer Illinoisans working today than in January 2008, and 170,000 fewer payroll jobs.”


Read more:


Food-stamp enrollment in Illinois outpaces job creation by nearly 2-to-1




From the Brookings Institute July 31, 2014.


“This brief updates the 2011 report, The Re-Emergence of Concentrated Poverty, using the latest neighborhood-level poverty data from the American Community Survey for 2008 through 2012, to examine where and how poor populations have shifted at the neighborhood level. The 2008-2012 period captures the peak of the Great Recession and the sluggish recovery that followed, which as of 2012, had yet to translate to declines in the nation’s record-high poor population. These data reveal the extent to which concentrated disadvantage has grown since 2000 in the nation’s 100 largest metro areas, and how these trends have played out across city and suburban lines.3 In particular, the brief examines the changing incidence of both distressed neighborhoods, in which at least 40 percent of residents live below poverty, and high-poverty neighborhoods, where at least 20 percent of residents are poor.”


“As poverty increased and spread during the 2000s, the number of distressed neighborhoods in the United States—defined as census tracts with poverty rates of 40 percent or more—climbed by nearly three-quarters (Table 1). (Note that the analysis excludes both tracts with small populations and those where more than 50 percent of residents enrolled in college or graduate school.) The population living in such neighborhoods grew by similar margins (76 percent, or 5 million people) to reach 11.6 million by 2008-2012. Of those residents, 5.4 million were poor. By 2008-2012, the concentrated poverty rate—or share of poor residents living in distressed tracts—had reached  12.2 percent, up from 9.1 percent in 2000. This trend indicates that an increased share of poor individuals today face the “double burden” of not only their own poverty, but also the disadvantages of those around them.”


Read more:


http://www.brookings.edu/research/interactives/2014/concentrated-poverty#/M10420


 


Thanks to Citizen Wells commenters.


 


 


 


 


 

							

	
			

				
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August jobs plummet to 142k, June revised down 31k, Obama et al killing jobs, Participation rate down to historic low, Not in labor force jumps 268k, Could only find part time work leaps 68k


			

				Posted on September 5, 2014 | 100 comments
			


				

				
August jobs plummet to 142k, June revised down 31k, Obama et al killing jobs, Participation rate down to historic low, Not in labor force jumps 268k, Could only find part time work leaps 68k


“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief


“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


“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


From the US Labor Department September 5, 2014.


“Total nonfarm payroll employment increased by 142,000 in August, and the

unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor

Statistics reported today.”


“In August, both the unemployment rate (6.1 percent) and the number of unemployed persons (9.6 million) changed little.”


“The civilian labor force participation rate, at 62.8 percent, changed little in

August and has been essentially unchanged since April.”


“The change in total nonfarm payroll employment for June was revised from +298,000 to +267,000, and the change for July was revised from +209,000 to +212,000. With these revisions, employment gains in June and July combined were 28,000 less than previously reported.”


Read more:


http://www.bls.gov/news.release/empsit.nr0.htm


Furthermore:


The Labor Force Participation rate is back down to historic lows.


People not in the labor force jumped 268k in one month.


People who could only find part time work leaped 68k in one month.


 

							

	
			

				
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Obama the job killer lies again about economy and jobs, First Obamacare and now minimum wage, Obamacare has killed jobs and created more part time, Minimum wage hurts workers and consumers, 11.5 million more not in the labor force since Obama took White House


			

				Posted on September 1, 2014 | 126 comments
			


				

				
Obama the job killer lies again about economy and jobs, First Obamacare and now minimum wage, Obamacare has killed jobs and created more part time, Minimum wage hurts workers and consumers, 11.5 million more not in the labor force since Obama took White House


“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief


“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


“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


Obama was at it again today doing what he does best.


Killing jobs and lying about his success.


From the Houston Chronicle September 1, 2014.


“President Barack Obama renewed his push for Congress to raise the minimum wage Monday in a buoyant accounting of the economy’s “revving” performance, delivered on behalf of Democrats opening their fall campaigns for the midterm congressional elections.


“America deserves a raise,” he told a union crowd in Milwaukee, vowing to keep a hard sell on Congress in much the way he once courted his wife. “I just wore her down,” he cracked.


Timing his push to Labor Day, the traditional start of the autumn campaign, Obama aggressively drew attention to recent economic gains, setting aside past caution on that subject.


“By almost every measure the American economy and American workers are better off than when I took office,” he said, rattling off a string of improving economic indicators even while acknowledging not all people are benefiting. “The engines,” he said, “are revving a little louder.”


It was, at least indirectly, a pep talk for Democrats facing tough races in a nation still gripped with economic anxieties.


The emphasis on the minimum wage is designed to draw campaign contrasts with Republicans, many of whom maintain that an increase would hurt small businesses and slow down hiring. No one expects Congress to act on it before the November elections.”


“Until now, Obama and his White House aides had been reluctant to draw too much attention to positive economic trends, worried that some may prove illusory or that, even if they hold, many working Americans continue to live on the edge of poverty and take no comfort in the upswing.”


Read more:


http://www.chron.com/news/politics/article/Obama-promoting-economic-gains-as-elections-near-5726093.php


There were 11.5 million more people not in the labor force in July 2014 than there were in January 2009 when Obama took the White House.


The labor force participation rate has dropped 2.8 percent.


There are record numbers of Americans on food stamps and government assistance.


It is well documented that Obamacare has killed jobs and created more part time employees.


Raising the minimum wage will kill jobs and impact consumers.


Companies pass on the cost of doing business to consumers and/or cut back on employees and employee benefits.


 

							

	
			

				
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Greensboro News Record AP article Employment statistics show hiring is strong, August 29, 2014, Orwellian extrapolation, 11.5 million more not in labor force since Jan 2009, Could step up hiring?


			

				Posted on August 29, 2014 | 54 comments
			


				

				
Greensboro News Record AP article Employment statistics show hiring is strong, August 29, 2014, Orwellian extrapolation, 11.5 million more not in labor force since Jan 2009, Could step up hiring?


“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief


“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. As for the third message, it referred to a very simple error which could be set right in a couple of minutes. As short a time ago as February, the Ministry of Plenty had issued a promise (a ‘categorical pledge’ were the official words) that there would be no reduction of the chocolate ration during 1984. Actually, as Winston was aware, the chocolate ration was to be reduced from thirty grammes to twenty at the end of the present week. All that was needed was to substitute for the original promise a warning that it would probably be necessary to reduce the ration at some time in April.”…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″


 


 


There were 11.5 million more people not in the labor force in July 2014 than there were in January 2009 when Obama took the White House.


Of course there are going to be fewer layoffs.


There are fewer people working, payrolls have already been cut to the bone and there are more part time jobs.


The labor force participation rate has dropped 2.8 percent.


I expect the AP to take the questionable data and spin it in Orwellian fashion.


For example:


“When employers hold onto their workers, it suggests they are more confident in the economy and could step up hiring.”


Could?


Pigs could fly if properly equipped.


I was disappointed to find the following headline over the AP regurgitated article in the Greensboro News Record.


“Employment statistics show hiring is strong”


Here is the same article on the internet from CBS 46 Atlanta.


“The number of Americans seeking unemployment benefits slipped 1,000 last week to a seasonally adjusted 298,000, a low level that signals employers are cutting few jobs and hiring is likely to remain strong.


The four-week average, a less volatile measure, dropped to 299,750, the Labor Department said Thursday. That’s just 6,000 higher than four weeks ago, when the average fell to the lowest level in more than eight years.


“The downward trend … is now clear and strong,” said Ian Shepherdson, an economist at Pantheon Macroeconomics. Shepherdson forecasts that employers added 250,000 jobs this month.


Applications are a proxy for layoffs. When employers hold onto their workers, it suggests they are more confident in the economy and could step up hiring.


The applications data is the latest sign that the job market is steadily healing. Employers have added an average of 230,000 jobs a month this year, up from an average of 195,000 in 2013. Average job gains since February have been the best in eight years.


The unemployment rate ticked up to 6.2 percent in July from 6.1 percent in June. But that was because more Americans began looking for work. Most didn’t immediately find jobs, but the rising number of job seekers suggests that people are growing more confident about their prospects.”


Read more:


http://www.cbs46.com/story/26392282/applications-for-us-unemployment-aid-slip-to-298k

							

	
			

				
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CBO raises 2014 budget deficit by 14 billion, Lowers GDP from 3.1 to 1.5 percent, Red ink to rise in coming years if Washington doesn’t change current laws, Lower tax revenue


			

				Posted on August 27, 2014 | 63 comments
			


				

				
CBO raises 2014 budget deficit by 14 billion, Lowers GDP from 3.1 to 1.5 percent, Red ink to rise in coming years if Washington doesn’t change current laws, Lower tax revenue


“The number of people receiving health coverage through public exchanges under President Obama’s health-care overhaul will total roughly 25 million by 2018, will add more than $1 trillion to the federal deficit over the next decade and could very well create a small contingent of workers unwilling to work for fear of losing federal medical aid.”

“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


“What do you think a stimulus is? It’s spending – that’s the whole point! Seriously.”…Barack Obama


 


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


From Market Watch August 27, 2014.


“CBO forecasts $506 billion budget deficit for 2014”

“The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesn’t change current laws.


In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. government’s deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agency’s prior estimate for the year, issued in April.


The new estimate is largely a result of lower-than-expected revenues for the year — particularly receipts of corporate taxes. CBO now estimates that all revenues will be 0.9% below its projection in April. Corporate tax revenues will be $315 billion in 2014, compared to a prior estimate of $351 billion, CBO said.”

“The agency lowered its projection of GDP growth for the year, to 1.5% from 3.1%, “reflecting the surprising economic weakness in the first half of the year.””

“But there are fiscal pressures on the horizon. The CBO said deficits will start to rise again after 2015, and approach $1 trillion in 2024.”


Read more:


http://www.marketwatch.com/story/cbo-forecasts-506-billion-budget-deficit-for-2014-2014-08-27?dist=countdown


 

							

	
			

				
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Obamacare negatively impacts employment and health care costs, Federal Reserve Bank of Dallas reflects Philadelphia Fed survey, 48.6 percent raises costs a lot in 2014, 25.9 percent employ fewer workers


			

				Posted on August 25, 2014 | 69 comments
			


				

				
Obamacare negatively impacts employment and health care costs, Federal Reserve Bank of Dallas reflects Philadelphia Fed survey, 48.6 percent raises costs a lot in 2014, 25.9 percent employ fewer workers


“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief


“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


Reported at Citizen Wells August 22, 2014.


From the Philadelphia Fed August 2014.


“In special questions this month, firms were asked qualitative questions about the effects of the Affordable Care Act (ACA) and how, if at all, they are making changes to their employment and compensation, including benefits (see Special Questions). Over 18 percent of the firms indicated that the number of workers they employ was lower because of the ACA; 3 percent indicated higher levels. The same percentage (18 percent) indicated that the proportion of part-time workers had increased. Regarding health insurance benefit coverage, 41 percent said their coverage was unchanged, but 52 percent indicated modifications to their offerings. Among those modifying their health insurance coverage, higher deductibles (91 percent), higher worker contributed premiums (88 percent), and higher out-of-pocket maximums (77 percent) were the most cited changes.”


The Federal Reserve Bank of Dallas has just presented their survey.


“How would you say the Affordable Care Act (ACA) has affected your firm’s health care costs in question 1 above?”


“Raise costs a lot”


“Effect of ACA in 2014”


48.6 percent


“Expected effect of ACA in 2015”


54.7 percent

“How, if at all, are you changing (or have you changed) any of the following because of the effects that the ACA is having on your firm?”


“The number of workers you employ (including full-time, part-time, etc.)”


“Lower due to ACA”


25.9 percent


“The proportion of your workers that are part-time, contract or temporary”


“Higher due to ACA”


16.5 percent


“Prices you charge to customers”


“Higher due to ACA”


35.3 percent


http://www.dallasfed.org/microsites/research/surveys/tmos/2014/1408/specquest.cfm


Over one third of these companies are passing on the higher cost of Obamacare to their customers!


 

							

	
			

				
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Janet Yellen employment concerns, NY Times protects Obama, Chicago Suntimes Philadelphia Fed and Duke Fuqua School of Business blame Obamacare for unemployment and part time jobs


			

				Posted on August 22, 2014 | 42 comments
			


				

				
Janet Yellen employment concerns, NY Times protects Obama, Chicago Suntimes Philadelphia Fed and Duke Fuqua School of Business blame Obamacare for unemployment and part time jobs


“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief


“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013


“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″


 


 


Janet Yellen, despite the fact she has tap danced around the real employment problems in this county, today in Jackson Hole did address some of the problems with employment in this country.


“Consider first the behavior of the labor force participation rate, which has declined substantially since the end of the recession even as the unemployment rate has fallen. As a consequence, the employment-to-population ratio has increased far less over the past several years than the unemployment rate alone would indicate, based on past experience. For policymakers, the key question is: What portion of the decline in labor force participation reflects structural shifts and what portion reflects cyclical weakness in the labor market? If the cyclical component is abnormally large, relative to the unemployment rate, then it might be seen as an additional contributor to labor market slack.


Labor force participation peaked in early 2000, so its decline began well before the Great Recession. A portion of that decline clearly relates to the aging of the baby boom generation. But the pace of decline accelerated with the recession. As an accounting matter, the drop in the participation rate since 2008 can be attributed to increases in four factors: retirement, disability, school enrollment, and other reasons, including worker discouragement.8 Of these, greater worker discouragement is most directly the result of a weak labor market, so we could reasonably expect further increases in labor demand to pull a sizable share of discouraged workers back into the workforce.”


http://www.federalreserve.gov/newsevents/speech/yellen20140822a.htm


The NY Times, as it often has, reports on the Yellen speech and quotes one of the most ludicrous papers as an excuse for the lack of employment.


I was just going to pull up the NY Times Yellen article from this afternoon and got this message:


“The requested URL “http://www.nytimes.com/” cannot be found or is not available. Please check the spelling or try again later.”


I will try again later.


***  Update 7:03 PM article back up ***


“Ms. Yellen’s optimism that Fed policy can increase employment and wages is also challenged by a growing body of economic literature purporting to show that the decline of employment is caused largely by factors that predate the recession, and that cannot be addressed by continuing to hold down interest rates.


The economists Stephen J. Davis, of the University of Chicago, and John Haltiwanger, of the University of Maryland, argued in a paper presented Friday at the conference that employment had declined because the labor market has stagnated in recent decades. Fewer people are leaving or losing jobs, and fewer are taking new ones.


“These results,” they wrote, “suggest the U.S. economy faced serious impediments to high employment rates well before the Great Recession, and that sustained high employment is unlikely to return without restoring labor market fluidity.”








Read the rest of the article.


You will be amazed.


 


From the Duke University Fuqua School of Business, December 11, 2013.


“——————————————-

DUKE UNIVERSITY NEWS

Duke University Office of News & Communications


http://www.dukenews.duke.edu


——————————————-


FOR IMMEDIATE RELEASE: Wednesday, Dec. 11, 2013

CONTACTS: Kevin Anselmo (Duke’s Fuqua School of Business)

(919) 660-7722

kevin.anselmo@duke.edu

or

David W. Owens (CFO Magazine)

(617) 790-3000

davidowens@cfo.com


CFO SURVEY: AFFORDABLE CARE ACT COULD CURTAIL HIRING


Note to editors: For additional comment, see contact information at the end of this release.

Watch professor John Graham discuss the results (or use this link

http://youtu.be/F4oj8d5F9Jo). You may also post this video on your website. Names of CFOs who took part in the survey and agreed to speak with media are available by request.


DURHAM, N.C. — A significant percentage of U.S. chief financial officers indicate that because of the Affordable Care Act (ACA), they may reduce employment growth at their firms and shift toward part-time workers.


A majority of finance chiefs also believe the full Social Security retirement age should be raised to help close the budget shortfall.


Despite these issues, underlying economic conditions are expected to improve in 2014 and, except in Europe, corporate charitable giving remains strong


These are some of the findings from the latest Duke University/CFO Magazine Global Business Outlook Survey, which concluded Dec. 5. The survey has been conducted for 71 consecutive quarters and spans the globe, making it the world’s longest running and most comprehensive research on senior finance executives. Presented results are for U.S. firms unless otherwise noted.


EMPLOYMENT EFFECTS OF THE AFFORDABLE CARE ACT


Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA.

One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.


Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”


Read more:


http://www.cfosurvey.org/14q1/PressRelease.pdf


From the Philadelphia Fed August 2014.


“In special questions this month, firms were asked qualitative questions about the effects of the Affordable Care Act (ACA) and how, if at all, they are making changes to their employment and compensation, including benefits (see Special Questions). Over 18 percent of the firms indicated that the number of workers they employ was lower because of the ACA; 3 percent indicated higher levels. The same percentage (18 percent) indicated that the proportion of part-time workers had increased. Regarding health insurance benefit coverage, 41 percent said their coverage was unchanged, but 52 percent indicated modifications to their offerings. Among those modifying their health insurance coverage, higher deductibles (91 percent), higher worker contributed premiums (88 percent), and higher out-of-pocket maximums (77 percent) were the most cited changes.”


From the Chicago SunTimes August 21, 2014.


“Thanks a lot, Obama.


Add the Affordable Care Act – or, specifically, the big-business Cubs’ response to it – to the causes behind Tuesday night’s tarp fiasco and rare successful protest by the San Francisco Giants.


The staffing issues that hamstrung the grounds crew Tuesday during a mad dash with the tarp under a sudden rainstorm were created in part by a wide-ranging reorganization last winter of game-day personnel, job descriptions and work limits designed to keep the seasonal workers – including much of the grounds crew – under 130 hours per month, according to numerous sources with direct knowledge.


That’s the full-time worker definition under “Obamacare,” which requires employer-provided healthcare benefits for “big businesses” such as a major league team.”


Read more:


http://www.suntimes.com/29402267-761/cubs-cut-grounds-crews-hours-to-avoid-paying-health-benefits-sources.html#.U_fDd_nxrVr


 


 

							

	
			

				
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