Category Archives: Labor Day

Obama media lies on September jobs report, Election year spin hides horrible jobs situation and economy, Janet Yellen questions job strength, Federal Reserve publishes labor market conditions index

Obama media lies on September jobs report, Election year spin hides horrible jobs situation and economy, Janet Yellen questions job strength, Federal Reserve publishes labor market conditions index

“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

“Approximately 1 million more people could only find part time employment since Obama took office in January 2009.”…Citizen Wells August 2013

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

 

If you are making investment decisions based on what you are reading in the mainstream media, you had better read the following.

The normal pro Obama media has outdone itself.

Why?

It is an election year and Obama is in trouble.

The recent stated unemployment rate of 5.9 percent was compared as the best since 2008.

What they did not tell you is the following reported at Citizen Wells on October 3, 2014.

“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.”

https://citizenwells.wordpress.com/2014/10/03/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/

That is bad enough.

But it gets worse.

Straight from the US Labor Dept.

The unemployment rate for blacks is 11 percent. It was 10 percent in July 2008.

The lowest labor force participation rate during the 8 years of George Bush was 65.8 percent.

It is currently 62.7 percent with this great Obama economy.

The highest number of people unemployed over 27 weeks during the 8 years of George Bush was 2,610,000.

The highest number under Obama was 6,770,000. It is currently 2,954,000 and would be higher if so many people had not dropped out of the labor force.

When Obama took office in January 2009 there were 5,708,000 million people not in the labor force who want a job now. There are currently 6,349,000 people in that category.

There are 12 million more people not in the labor force than when Obama took office in 2009.

From the Greensboro News Record October 3, 2014.

“For example, there were 7.1 million people working part-time jobs last month even though they would prefer full-time work. That figure is up from just 4.6 million before the recession.

And there are 3 million people who have been out of work for more than six months. That figure has declined steadily in the past three years but is still more than double its precession total.”

Read more:

http://www.news-record.com/news/u-s-jobless-rate-falls-to–year-low-of/article_d51fda54-4b05-11e4-b8be-001a4bcf6878.html?TNNoMobile

Janet Yellen has been raising concerns about the validity of the jobs data for months.

From Market Watch October 1, 2014.

“Starting next week, a new indicator may roil the markets

The Federal Reserve will publish a new monthly gauge of the health of the labor market, called the labor market conditions index, beginning next Monday, the central bank announced Wednesday.

The report is an attempt to dig deeper into labor market trends beyond the standard monthly unemployment rate measure.

Fed Chairwoman Janet Yellen and her allies have argued that the improvement in the unemployment rate over the past year has overstated the strength of the labor market. How much slack remains in the economy is a key factor in how patient the central bank can be before lifting off short-term interest rates from zero.”

Read More:

http://blogs.marketwatch.com/capitolreport/2014/10/01/starting-next-week-a-new-indicator-may-roil-the-markets/

From “1984” by George Orwell.

“But actually, he thought as he re-adjusted the Ministry of Plenty’s figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connexion with anything in the real world, not even the kind of connexion that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of the time you were expected to make them up out of your head. For example, the Ministry of Plenty’s forecast had estimated the output of boots for the quarter at one-hundred-and-forty-five million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfulfilled. In any case, sixty-two millions was no nearer the truth than fifty-seven millions, or than one-hundred-and-forty-five millions. Very likely no boots had been produced at all. Likelier still, nobody knew how many had been produced, much less cared. All one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot. And so it was with every class of recorded fact, great or small. Everything faded away into a shadow-world in which, finally, even the date of the year had become uncertain.”

 

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

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.

 

Bernanke unemployment high, Labor Day weekend August 31, 2012, Fed can do more, Economic recovery far from satisfactory, Jobless claims 374,000

Bernanke unemployment high, Labor Day weekend August 31, 2012, Fed can do more, Economic recovery far from satisfactory, Jobless claims 374,000

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama
“after 29 months of allegedly stellar job growth under Obama, the jobless rate is still 8.3%. By this point in the Reagan and Bush jobs recoveries, the unemployment rate was 7.2% and 4.9%, respectively. If we were one of those fact-checking organizations, we’d give Stephanie Cutter the “Lying Liar from Liersburg” award.”…News Busters August 26, 2012

“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″

From Boston.com August 31, 2012.
“Bernanke: With unemployment high, Fed can do more”

“Chairman Ben Bernanke made clear Friday that the Federal Reserve will do more to boost the economy because of high U.S. unemployment and an economic recovery that remains ‘‘far from satisfactory.’’

He also argued that the Fed’s moves so far to keep interest rates at record lows and encourage borrowing and spending have helped bolster the economy.

Bernanke stopped short of committing the Fed to any specific move, such as another round of bond purchases to lower long-term rates. But in a speech at an annual Fed conference in Jackson Hole, Wyo., Bernanke said that even with rates at super-lows, the Fed can do more.

After Bernanke’s comments were released at 10 a.m. Eastern time, stocks initially gave up most of their earlier gains. But as investors digested the speech, stocks bounced back. By late morning, the Dow Jones industrial average was up more than 100 points. Broader stock indexes also surged.

Bernanke noted that further action carries risks but says the Fed can manage them. The Fed ‘‘should not rule out’’ new policies to improve the job market, he said.

The most dramatic step the Fed could take would be another round of bond buying. This is known as quantitative easing, or QE. In two rounds of QE, the Fed bought more than $2 trillion of Treasury bonds and mortgage-backed securities. Many investors have been hoping for a third round — QE3— to be unveiled as soon as the Fed’s next policy meeting in September.

In light of Bernanke’s comments Friday, some analysts said that might be a stronger possibility now.”

“In his speech, Bernanke cited studies showing that the Fed’s first two rounds of bond purchases created at least 2 million jobs.”

“Bernanke’s comments Friday made clear that the economy has a long way back to full health.

‘‘Unless the economy begins to grow more quickly than it has recently, the unemployment rate is likely to remain far above levels consistent with maximum employment for some time,’’ he said.”

Read more:

http://www.boston.com/business/markets/2012/08/31/bernanke-with-unemployment-high-fed-can-more/n9QmdIvIK9wPGKFNGsfSYK/story.html

From the US Labor Department August 30, 2012.

“In the week ending August 25, the advance figure for seasonally adjusted initial claims was 374,000, unchanged from the previous week’s revised figure of 374,000. The 4-week moving average was 370,250, an increase of 1,500 from the previous week’s revised average of 368,750.”

http://www.dol.gov/opa/media/press/eta/ui/current.htm

Vermont politics, Health care reform, Labor Day weekend, 2009, Senators, Bernie Sanders, Patrick Leahy, VT State Auditor Tom Salmon switches parties, Vermont Republican Chairman Rob Roper

I was in Vermont over the extended Labor Day weekend. Before I left I contacted Senator Patrick Leahy via email. Here is what I sent:

“You apparently do not conduct town hall meetings.
However, I would like to take part in any discussions with constituents
or interview you if you will be anywhere near Burlington over the Labor Day weekend.
Thanks.
Mr. Wells”

I received no response.

When I was in Burlington, VT, I called both senator’s offices and they were closed. However I discovered that Senator Bernie Sanders was going to speak at a Labor Day celebration. Here is part of the announcement:

“Burlington Labor Day Celebration & Benefit Concert

September 7, 2009 – 12:00pm – 3:00pm
WHEN: 12 noon – 3pm, Monday, September 7
WHERE: Battery Park, Burlington

WHAT: Senator Bernie Sanders will join hundreds of working families for the 8th Annual Burlington Labor Day Celebration sharing in a community potluck, music, street theater and ice cream. This year’s celebration is being sponsored by the Vermont Workers’ Center, a community-based workers’ rights organization who has been building a statewide grassroots organizing campaign called the “Healthcare Is A Human Right Campaign””

Senator Sanders, considered by many to be an open socialist, has been regularly featured on CNN and other MSM outlets. The video below has some exerpts from his speech, obviously crafted to appeal to a radical, “government owes me”, agenda. I was able to quickly ask Senator Sanders a question about tort reform before he departed.

The next day, as luck or whatever forces, would have it, I was in the Capitol building in Montpelier when State Auditor Tom Salmon, switched from the Democrat to Republican party. Tom Salmon’s father was a former Vermont governor. I present on video part of Salmon’s announcement as well as a question about his thoughts on healthcare reform.

I was also fortunate to obtain an interview with Vermont Republican Chairman, Rob Roper, regarding healthcare reform. Roper provided an opinion about Senator Patrick Leahy which may explain one of the reasons he was unavailable.

I was treated with courtesy, for the most part, at the Sander’s speech. However, I had the distinct impression that they were surprised that I was there and would be recording the speech. Senator Sanders has embarked on a new video campaign for Youtube and other outlets. Gee, I hope that I did not spoil any plans to control presentation or quoting of this speech.

 

The complete Senator Bernie Sanders speech can be viewed here:

Senator Bernie Sanders Vermont Labor Day speech, September 7, 2009, Health care, Burlington, VT, Vermont Workers Center, Health care a right?, Video

The Citizen Wells blog covered the Senator Bernie Sanders Labor Day speech in Burlington, VT, today, Monday, September 7, 2009. The event was hosted by the Vermont Workers’ Center. Here is the announcement:

“Burlington Labor Day Celebration & Benefit Concert
September 7, 2009 – 12:00pm – 3:00pm
WHEN: 12 noon – 3pm, Monday, September 7
WHERE: Battery Park, Burlington
WHAT: Senator Bernie Sanders will join hundreds of working families for the 8th Annual Burlington Labor Day Celebration sharing in a community potluck, music, street theater and ice cream. This year’s celebration is being sponsored by the Vermont Workers’ Center, a community-based workers’ rights organization who has been building a statewide grassroots organizing campaign called the “Healthcare Is A Human Right Campaign” that over that past couple of years has been redefine healthcare as a public good. There will also be a special tribute to the contributions and struggles of working families from Jennifer Henry, the President of the Fletcher Allen nurses union and United Professions of Vermont/AFT. Music will be performed local Burlington busker John Holland and Rik & Bec, a new local duo of Rik Palieri and Rebecca Padula.
“Labor Day is a day to celebrate and remember both the work we all do day in and day out and the long struggles of working people who fought hard for the eight hour day, for Social Security, the end of child labor and even the weekend,” said James Haslam, Director of the Vermont Workers’ Center. “But more than ever, use should use Labor Day as a reminder that we need to be carrying on this tradition by organizing in our workplaces and our communities. This is a time re-commit to the current struggles for more livable wage jobs, fair retirement, strong and healthy communities, and re-defining quality healthcare as a fundamental human right for everyone.”
BACKGROUND: The Vermont Workers’ Center was started in 1998 as a workers’ rights and social justice organization, and have been involved in campaigns to improve working conditions and win livable wages in hundreds of Vermont workplaces across the state. In 2008, they launched the Healthcare Is A Human Right Campaign to build a statewide grassroots network of Vermonters committed to redefining healthcare policy to establish healthcare as a basic public good for all.
MORE INFO: www.workerscenter.org
www.workerscenter.org/healthcare
802-861-4892″

The speech is presented here unedited and without commentary. A followup article will be presented with commentary and analysis. The only comment I will make at this time is that they appeared a little surprised that I was there and that the event had the appearance of being staged. I will also state that I was treated with courtesy for the most part.