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.”
CNBC jobs lies, Goldman Sachs economist Jan Hatzius interview, Baby boomer impact lie, NBC leading way in Orwellian media lies?, Citizen Wells email to Hatzius for clarification
“People 55 to 64 years old, the first forget-about-retirement generation, are staying in the labor force to an ever greater degree. In 1992, only 56.2% were still in the labor force, in 2012, 64.5% were. Similar for older folks. The participation rate for people 65 to 74 years old jumped from 16.3% to 26.8%. Reality is this: fewer people can afford to retire.”…Zero Hedge January 8, 2014
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it”…Joseph Goebbels
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Was anyone paying attention surprised when Brian Williams of NBC was caught in a lie?
No!
It is what we have come to expect from the mainstream media.
The mantra of the left.
The end justifies the means.
Just yesterday Goldman’s chief economist Jan Hatzius appeared on CNBC.
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”
I am preparing an article
and want to be accurate.
Thanks
Wells
Many in the mainstream media have incorrectly attributed the large drop in the percentage of the population employed to baby boomers. I awarded the Washington Post Orwells for their misleading report.
From Citizen Wells January 20, 2015.
I am going to make this real simple.
Let’s ignore immigrants increasing our work force for the moment.
The baby boomer generation is known for it’s size. However, due to the growth in the US, recent generations are even larger.
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’ assume that all of the people who turn 65 next year retire.
That is still a net gain of about a million potential workers.
As we all know, all of those people do not stop working unless they cannot find a job.
From the CBO.
“The resulting rise in the projected rates of labor force participation for older people is noteworthy. For men ages 62 to 64, CBO projects that the rate of labor force participation will rise from about 52 percent in 2012 to about 55 percent in 2022. For men ages 65 to 69, the projected rate rises from about 37 percent in 2012 to about 41 percent in 2022. The changes for women are similar: The projected rate of labor force participation for women ages 62 to 64 rises from about 44 percent to about 48 percent, and for women ages 65 to 69, the projected rate increases from about 28 percent to about 32 percent. In 2022, the FRA will be 67 only for people age 62 or younger in that year. As that group ages and the FRA gradually becomes 67 for all older people, CBO projects that the labor force participation rate for older people will continue to increase, although at a slower pace.”
“A few days ago we disproved, in what we hoped would be the last time, any insinuation that the collapse in the labor force is due to demographics (a topic we had covered before) when we showed that it was just 10 short years ago that the Bureau of Labor Statistics itself was forecasting an increase in the overall participation rate – here we assume logically that America’s demographic profile was known to its labor market experts in 2004 – only to slowly at first, then very fast, revise it ever lower… and still it was unable to catch up to the unfolding gruesome reality.
Yet somehow, so called finance experts, econ PhDs, central planners and other ivory tower dwellers still refuse to let this topic go, and continue to reference the participation rate and demographics in the same sentence. So to truly end any speculation that the plunge in the labor force is due to “old people”, defined as workers 55 and over, retiring, here is a chart (which in an update of a post we didfirst in October 2012 and it took the rest of the media world only 14 months to catch up) of the cumulative job gains broken down by “young”, or those 16-54, vs “old”, those 55 and over.
Spot something wierd?
It seems that the “old” age worker group – that which is supposed to be bleeding workers to retirement – has had zero job losses since the start of the Depression in December 2007, while it was the “younger” workers who according to the BLS’ Household Survey, have hit the labor cliff and seen their number collapse, dropping as much a 6 million, and only slowly rising, with another 3.5 million jobs left to catch up before pre-recession levels are met.”
NC Governor Pat McCrory speech on employment misleading, Big unemployment rate lie, Greensboro News Record article, Record numbers leave labor force, Percent of population working plummets, Immigrants get NC jobs
“There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.”…Gallup CEO Jim Clifton
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
I am not a fan of modern day political parties.
I detest the modern day Democrat Party and for good reason.
Governor Pat McCrory inherited a mess created by the Obama camp and Democrats in NC. A horrible economic and jobs situation.
McCrory is a likeable fellow and I believe that the Republicans controlling government in NC will try to fix the mess.
That does not excuse him from making misleading statements about the jobs situation here.
From the State Of the State speech February 4, 2015.
“As I said, two years ago, our unemployment rate was the fifth highest in the nation. So we all rolled up our sleeves, made the tough decisions, and as of today, the private sector has created nearly 200,000 new jobs. We went from the 5th highest in unemployment to the 23rd lowest, and now we’re even beating South Carolina. Despite this tremendous accomplishment there are still a lot of communities, small businesses, and individuals that are hurting, and there is still much work to be done. Therefore, my administration’s focus will be on five areas that have the greatest impact on our people. ”
Much of the drop in the unemployment rate in NC came from people dropping out of the labor force.
From Citizen Wells December 21, 2014.
“Despite what you may have read from the low information mainstream media, baby boomers retiring are not the cause of the drop in the labor force in NC or US.
Do the math or read prior articles at Citizen Wells.
Lack of jobs is the problem.
From May of 2008 to November of 2014, the labor force participation rate plummeted 5 percent in NC. The unemployment rate is the same.”
The Greensboro News Record may be reporting the facts about jobs because the Republicans are in power.
Greensboro News Record February 5, 2015.
“The unemployment rate in the Greensboro-High Point metro area decreased to 5.3 percent in December 2014, compared with 6.9 percent in December 2013, according to a report from the N.C. Department of Commerce.”
““The state’s labor force shrunk 0.2 percent in November, losing 13,534 people. Over the past year, the labor force has shrunk 0.7 percent, for a reduction of 31,665 people.
A shrinking labor force will drive down the unemployment rate because fewer people are looking for work.”
“Guilford County’s unemployment rate also dropped to 5.3 percent in December 2014 from 6.9 percent a year earlier.
Rockingham County’s rate fell to 5.9 percent from 7.6 percent a year earlier.
And Randolph County’s rate dropped to 4.8 percent from 6.4 percent a year earlier.
But the encouraging numbers doesn’t necessarily mean many more people are working. The number of people who are actually working in those counties has improved very slowly or decreased during the same period, suggesting that many people have stopped looking for work altogether.
In Guilford County, 234,645 people were working in December 2014, compared with 233,313 a year earlier. This is part of an ongoing — but painfully slow — trend. The current figure, for example, is not a dramatic improvement from the December 2008 figure of 229,813.
In Rockingham County, 38,865 people were working in December 2014, compared with 38,645 the previous December.
And in Randolph County, 66,626 people were working in December, compared with 66,247 in December 2013. The county’s total employment has not fully recovered since December 2008, when 68,593 were working.”
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.”
Challenger Gray & Christmas January 2015 job cuts report, 53000 job cuts, 40 percent due to falling oil prices, Initial claims jump 11K
“There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.”…Gallup CEO Jim Clifton
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Remember, only 59.2 percent of the US population is working and only 56.5 percent in NC. More on NC and McCrory’s state of the state speech soon.
From Challenger Gray & Christmas.
“2015 January Job Cut Report: 40% of 53,041 Cuts Due to Falling Oil Prices”
“Job cut announcements surged to their highest level in nearly two years, as falling oil prices prompted cost-cutting efforts in energy and related industries. In all, U.S.-based employers announced plans to shed 53,041 jobs from their payrolls to start 2015; with 40 percent of those directly related to oil prices.
The January total was up 63 percent from the 32,640 planned layoffs announced in December, according to the report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
Last month’s figure was 18 percent higher than the same month a year ago, when employers announced job cuts totaling 45,107. Last month, in fact, saw the highest monthly job-cut tally since February 2013 (55,356) and the highest January total since 2012, when employers announced 53,486 job cuts to begin the new year.
Of the 53,041 job cuts announced in January, 21,322 were directly attributed to the recent and sharp decline in oil prices. Most of these cuts occurred in the energy industry, where employers announced a total of 20,193 layoffs (19,722 of which were directly attributed to oil prices). The January total is 42 percent higher than the 14,262 job cuts announced by the energy industry in all of 2014.
Falling oil prices also contributed to job cuts in the industrial goods manufacturing sector, where companies supplying products and materials to oil drillers were forced to shutter operations. These firms announced 4,859 job cuts in January, of which 1,600 (or 33 percent) were due to oil prices.
“We may see oil-related job cuts extend well beyond those industries directly involved with exploration and extraction. The economies throughout the northern United States that have been thriving as a result of the oil boom could experience a steep decline in employment across all sectors, including retail, construction, food service and entertainment,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.”
“In the week ending January 31, the advance figure for seasonally adjusted initial claims was 278,000, an increase of 11,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 265,000 to
267,000. The 4-week moving average was 292,750, a decrease of 6,500 from the previous week’s revised average. The previous week’s average was revised up by 750 from 298,500 to 299,250.”
5.6 percent unemployment rate big lie, Gallups Jim Clifton, White House Wall Street and media lies, 30 million Americans out of work or severely underemployed, Percent of population working plummets
“The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”…US Labor Dept. September 2014
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″
Citizen Wells and others such as Rush Limbaugh have been warning and informing you about the real economy and jobs situation.
From Citizen Wells January 29, 2015.
“The plummet of the labor force participation rate in NC, other states and the US is big news and should be more widely reported.
The percentage of the population working is also important and in some ways more significant.
Since the big news today was the lowest so called initial claims number in 15 years let’s go back to January 2000 and compare the employment to population percent from then to now.
US
Jan 2000 64.6
Dec 2014 59.2
That’s a plummet of 5.4 percent!
NC
Jan 2000 65.1
Dec 2014 56.5
That’s a plummet of 8.6 percent !!!
So much for the improved economy and jobs situation.
I warned you we were in the age of Big Brother and “1984.””
From Gallup CEO Jim Clifton
“The Big Lie: 5.6% Unemployment”
“Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.
There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.
And it’s a lie that has consequences, because the great American dream is to have a good job, and in recent years, America has failed to deliver that dream more than it has at any time in recent memory. A good job is an individual’s primary identity, their very self-worth, their dignity — it establishes the relationship they have with their friends, community and country. When we fail to deliver a good job that fits a citizen’s talents, training and experience, we are failing the great American dream.”
Initial claims lowest in 15 years?, Look at percent of population working!, Get rid of enough employees and claims go down, Citizen Wells challenge to Orwellian and low information reporters in media
“The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”…US Labor Dept. September 2014
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″
You are reporting that initial claims were the lowest in 15 years with a straight face and you are not on drugs , you really believe it and you are not part of the Obama camp Orwellian media.
How about giving the public the damn truth!
Just this morning I wrote.
“NC labor force participation rate plummets 5.3 percent since May 2008, Reason for unemployment rate drop, Reason for drop in claims, No more employees left to lay off, NC ninth most populous state”
“Do not be fooled by low information biased media.
Those folks dropping out of the labor force are not mostly older baby boomers.
They are younger people who have given up on finding jobs.
Many of them are not drawing unemployment pay and are not counted in the unemployed numbers.
They also cannot be laid off.
NC is the ninth most populous state and is representative of what is taking place in the US.
Many states have been hit even harder.
From Citizen Wells January 15, 2015.
“Forget the unemployment rate. If you remove enough people from the labor force you will achieve full employment and a low unemployment rate. We have that scenario now. In fact one state, West Virginia, has a labor force participation rate below 50 percent yet the unemployment rate is 6.3 percent.
See what I mean?
Old Abe Lincoln once said “you can’t fool all of the people all of the time.””
The plummet of the labor force participation rate in NC, other states and the US is big news and should be more widely reported.
The percentage of the population working is also important and in some ways more significant.
Since the big news today was the lowest so called initial claims number in 15 years let’s go back to January 2000 and compare the employment to population percent from then to now.
US
Jan 2000 64.6
Dec 2014 59.2
That’s a plummet of 5.4 percent!
NC
Jan 2000 65.1
Dec 2014 56.5
That’s a plummet of 8.6 percent !!!
So much for the improved economy and jobs situation.
I warned you we were in the age of Big Brother and “1984.”
NC labor force participation rate plummets 5.3 percent since May 2008, Reason for unemployment rate drop, Reason for drop in claims, No more employees left to lay off, NC ninth most populous state
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”…US Labor Dept. September 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Do not be fooled by low information biased media.
Those folks dropping out of the labor force are not mostly older baby boomers.
They are younger people who have given up on finding jobs.
Many of them are not drawing unemployment pay and are not counted in the unemployed numbers.
They also cannot be laid off.
NC is the ninth most populous state and is representative of what is taking place in the US.
Many states have been hit even harder.
From Citizen Wells January 15, 2015.
“Forget the unemployment rate. If you remove enough people from the labor force you will achieve full employment and a low unemployment rate. We have that scenario now. In fact one state, West Virginia, has a labor force participation rate below 50 percent yet the unemployment rate is 6.3 percent.
See what I mean?
Old Abe Lincoln once said “you can’t fool all of the people all of the time.”
From Market Watch January 14, 2015.
“The only state where less than half its civilians work”
“West Virginia quietly passed the ignominious milestone of having less than half of its adult, civilian population in the workforce in November.
State data compiled by the Labor Department shows that West Virginia’s civilian labor participation rate has fallen to 49.8%, from 50% in October. The national rate in December was 62.7%.
The Mountain State is the only state in the history of the series, which goes back to 1976, to have fallen below 50%, though Mississippi at 50.8% isn’t far behind.”
“You are being bombarded by the “good news” about employment from the Orwellian mainstream media, low information market news reports and I am certain the White House.
Now for the truth.
The real employment news.
The unemployment rate dropped to 5.6 percent and jobs are being added? Right?
From the US Labor Department data:
There were 456,000 more people not in the labor force in December!
There were supposedly 111,000 more people employed in December???
Hardly cause for celebration, if true, especially with the numbers of part time jobs.
The drop of .2 percent in the labor force participation rate accounts for the .2 percent drop in the unemployment rate.
The labor force participation rate has plummeted 3 percent since Obama took office.
The number of people who could only find part time work is up 756,000 since Obama took office.”
“The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity. Countries such as Hungary, Denmark, Finland, New Zealand, Sweden, Israel and Italy all have higher startup rates than America does.
We are behind in starting new firms per capita, and this is our single most serious economic problem. Yet it seems like a secret. You never see it mentioned in the media, nor hear from a politician that, for the first time in 35 years, American business deaths now outnumber business births.
The U.S. Census Bureau reports that the total number of new business startups and business closures per year — the birth and death rates of American companies — have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.
Until 2008, startups outpaced business failures by about 100,000 per year. But in the past six years, that number suddenly turned upside down. There has been an underground earthquake. As you read this, we are at minus 70,000 in terms of business survival. The data are very slow coming out of the U.S. Department of Census, via the Small Business Administration, so it lags real time by two years.
Net Number of New U.S. Firms Plummets
Business startups outpaced business failures by about 100,000 per year until 2008. But in the past six years, that number suddenly reversed, and the net number of U.S. startups versus closures is minus 70,000.
My hunch is that no one talks about the birth and death rates of American business because Wall Street and the White House, no matter which party occupies the latter, are two gigantic institutions of persuasion. The White House needs to keep you in the game because their political party needs your vote. Wall Street needs the stock market to boom, even if that boom is fueled by illusion. So both tell us, “The economy is coming back.”
Let’s get one thing clear: This economy is never truly coming back unless we reverse the birth and death trends of American businesses.
Dead-Wrong Thinking
It is catastrophic to be dead wrong on the biggest issue of the last 50 years — the issue of where jobs come from. Our leadership keeps thinking that the answer to economic growth and ultimately job creation is more innovation, and we continue to invest billions in it. But an innovation is worthless until an entrepreneur creates a business model for it and turns that innovative idea in something customers will buy. Yet current thinking tells us we’re on the right track and don’t need different strategies, so we continue marching down the path of national decline, believing innovation will save us.”
Citizen WElls 