Category Archives: Unemployment

November 2016 jobs report, Media lies, Obama and mythical jobs, Hispanics big winners, Whites decimated, Americans not in the labor force soar to record 95.1 million, Multiple jobholders hit all time high as part-time jobs soar, Big lie unemployment rate

November 2016 jobs report, Media lies, Obama and mythical jobs, Hispanics big winners, Whites decimated, Americans not in the labor force soar to record 95.1 million, Multiple jobholders hit all time high as part-time jobs soar, Big lie unemployment rate

“In December 2014 there were 18 million immigrants (legal and illegal) living in the country who had arrived since January 2000. But job growth over this period was just 9.3 million — half of new immigration.”…Center for Immigration Studies February 2015

“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

“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.”…Jim Clifton, CEO of Gallup

 

Why has Citizen Wells continued to report on white American employment in the US?

The answer is simple.

Whites are still the largest segment of the population, are expected to proportionally benefit from jobs added and the mainstream media won’t touch this story.

From the US Labor Dept. and the November jobs report we find:

Change in employment from November 2007 to November 2016 by ethnicity.

Black:  2,276,000 gain

Asian:  2,360,000 gain

Hispanic: 4,850,000 gain

White: 722,000 loss (you read this right)

CNN October 7, 2016.

“This week Obama fought back at his detractors. He said his team has created a “more durable, growing economy” with “15 million new private-sector jobs since early 2010” in an essay in The Economist. Democrat Tim Kaine also used the 15 million jobs talking point in the vice presidential debate.”

http://money.cnn.com/2016/10/07/news/economy/obama-15-million-jobs/

Where in the hell are those jobs!

Especially if you are a white American!

From Zero Hedge December 2, 2016.

“Payrolls Rise 178K As Unemployment Rate Tumbles To 4.6% But Average Hourly Earnings Worst Since 2014

While the headline November payrolls print came in almost on top of expectations at 178K, vs consensus of 180K there were two big surprises in today’s report, one being the unemployment rate which plunged from 4.9% to 4.6%, well below the 4.9% expected, but the biggest negative surprise was that the Average hourly earnings in November dropped by 0.1%, far below last month’s 0.4% rise, and below the 0.2% expected with the annual increase growing by a far more modest 2.5% than the 2.8% expected.”

http://www.zerohedge.com/news/2016-12-02/payrolls-rise-178k-unemployment-rate-tumbles-46-average-hourly-earnings-slide

“Multiple Jobholders Hit New All Time High As Part-Time Jobs Soar

While today’s headline jobs number was essentially Goldilocks, with the payrolls print missing the expected print of 180K by just 2,000 jobs, it was accompanied by a plunge in the unemployment rate to 9 year lows as a result of a jump in the number of people leaving the labor force, and rising to a new all time high of over 95 million. But while the quantitative headline aspect is open to interpretation, the qualitative component of the November jobs print was – just like in the case of October – quite clear: it was ugly, again.

Recall that in October, the Household Survey revealed that the number of full-time workers tumbled by 103,000 as part-time workers jumped by 90,000. The trend continued in November, when another 118,000 part-time jobs were added, paired with a far more modest 9,000 increase in full -time jobs.”

http://www.zerohedge.com/news/2016-12-02/multiple-jobholders-hit-new-record-high-part-time-jobs-soar

“Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month

So much for that much anticipated rebound in the participation rate.

After it had managed to post a modest increase in the early part of the year, hitting the highest level in one year in March at 63%, the disenchantment with working has returned, and the labor force participation rate had flatlined for the next few month, ultimately dropping in November to 62.7%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 446,000 in November, hitting an all time high of 95.1 million.”

http://www.zerohedge.com/news/2016-12-02/americans-not-labor-force-soar-record-951-million-surge-446000-one-month

 

More here:

https://citizenwells.com/

http://citizenwells.net/

Trump debate point September 2016 jobs report, White employment decimated under Obama, Hillary promised NY 200k new jobs and they lost jobs, 10 million more whites not in labor force since 2007, No employment growth, Hispanic employment up 25 percent

Trump debate point September 2016 jobs report, White employment decimated under Obama, Hillary promised NY 200k new jobs and they lost jobs, 10 million more whites not in labor force since 2007, No employment growth, Hispanic employment up 25 percent

“In other words, more than half of the 156K jobs added in September went – once again – to minimum wage workers”…Zero Hedge October 7, 2016

“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

“In December 2014 there were 18 million immigrants (legal and illegal) living in the country who had arrived since January 2000. But job growth over this period was just 9.3 million — half of new immigration.”…Center for Immigration Studies February 2015

 

 

Ok folks, this ain’t rocket science and the mainstream media has not been reporting it.

White employment has been decimated under Obama!

It will be no better under Hillary with her open floodgate immigration policy and history on job creation.

When she was running for senator in NY, she promised 200,000 new jobs and they actually lost jobs.

Why, her lips were moving, a sure sign she was lying.

Donald Trump, Pay attention!

Citizen Wells has been reporting this for years.

Why did I choose white American employment?

It is still approx. two thirds of the population.

It provides a simple apples to apples comparison.

And (drum roll) it highlights the impact of illegal aliens.

Straight from US Labor Dept. tables.

Since September 2007:

There are  10 million more whites not in the labor force ( do not be fooled by media lies about this being due to baby boomers – this has been extensively covered at Citizen Wells ).

There has been zero white American employment growth!

There has been 25 percent employment growth for Hispanics.!

Also, the mass influx of illegals along with Obamacare has impacted the types of jobs available and wages.

From Zero Hedge October 7, 2016.

“Where The September Jobs Were: Secretaries, Waiters, Retail And Social Workers

While we already noted that the headline quantitative print in jobs, which rose by a seasonally adjusted 156K in September, was far weaker when observed from a quality standpoint, as a result of the surge in part-time jobs, the dip in full-time jobs, and the jump in multiple jobholders to the highest since the financial crisis, another question is which industries were hiring, albeit mostly part-time workers.

Here is the answer:

  • The most actively hiring sector was the otherwise stable “Professional and business services” where employment rose by 67,000 in September and has risen by 582,000  over the year. However, a quick look within the number reveals that the most active sub category was that of administrative and support services, which account for more than half, or +35,000, of the increase. In other words, secretaries and clerical staff.
  • Obamacare may be crushing the middle class, but it continues to “create” jobs: Health care added 33,000 jobs in September. Also thank America’s aging population: ambulatory health care services, aka social workers, added 24,000 jobs. Over the past 12 months, health care has added  445,000 jobs.
  • There was the old faithful: waiters and bartenders, aka “Employment in food services and drinking places” which continued to trend up in September (+30,000) and has increased by 300,000 over the year. This group remains one of the strongest, minimum-wage contributors to the Obama “recovery.”
  • Finally, there was minimum wage retail trade workers, where employment continued to trend up over the month (+22,000). Within the industry, job gains occurred in clothing and clothing accessories stores (+14,000) and in gasoline stations (+8,000). Over the year, employment in retail trade has risen by 317,000.

In other words, more than half of the 156K jobs added in September went – once again – to minimum wage workers.”

http://www.zerohedge.com/news/2016-10-07/where-september-jobs-were-secretaries-waiters-retail-and-social-workers

 

 

More here:

https://citizenwells.com/

http://citizenwells.net/

 

 

Jim Clifton recovering economy another lie, Unemployment rate lie, CEO Gallup, 25 million people whose economic lives have crashed, Invisible in reported 4.9% official U.S. unemployment rate, Devastated American remains counted as “full-time employed”

Jim Clifton recovering economy another lie, Unemployment rate lie, CEO Gallup, 25 million people whose economic lives have crashed, Invisible in reported 4.9% official U.S. unemployment rate, Devastated American remains counted as “full-time employed”

“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″

 

From Gallup September 20, 2016.

“The Invisible American”

“I’ve been reading a lot about a “recovering” economy. It was even trumpeted on Page 1 of The New York Times and Financial Times last week.

I don’t think it’s true.

The percentage of Americans who say they are in the middle or upper-middle class has fallen 10 percentage points, from a 61% average between 2000 and 2008 to 51% today.

SocialClassSelfID_Chairmansblog_91916[1]-edit2

Ten percent of 250 million adults in the U.S. is 25 million people whose economic lives have crashed.

What the media is missing is that these 25 million people are invisible in the widely reported 4.9% official U.S. unemployment rate.

Let’s say someone has a good middle-class job that pays $65,000 a year. That job goes away in a changing, disrupted world, and his new full-time job pays $14 per hour — or about $28,000 per year. That devastated American remains counted as “full-time employed” because he still has full-time work — although with drastically reduced pay and benefits. He has fallen out of the middle class and is invisible in current reporting.

More disastrous is the emotional toll on the person — the sudden loss of household income can cause a crash of self-esteem and dignity, leading to an environment of desperation that we haven’t seen since the Great Depression.

Millions of Americans, even if they themselves are gainfully employed in good jobs, are just one degree away from someone who is experiencing either unemployment, underemployment or falling wages. We know them all.

There are three serious metrics that need to be turned around or we’ll lose the whole middle class.

  1. According to the U.S. Bureau of Labor Statistics, the percentage of the total U.S. adult population that has a full-time job has been hovering around 48% since 2010this is the lowest full-time employment level since 1983.
  2. The number of publicly listed companies trading on U.S. exchanges has been cut almost in half in the past 20 years — from about 7,300 to 3,700. Because firms can’t grow organically — that is, build more business from new and existing customers — they give up and pay high prices to acquire their competitors, thus drastically shrinking the number of U.S. public companies. This seriously contributes to the massive loss of U.S. middle-class jobs.
  3. New business startups are at historical lows. Americans have stopped starting businesses. And the businesses that do start aregrowing at historically slow rates.

Free enterprise is in free fall — but it is fixable. Small business can save America and restore the middle class.

Gallup finds that small businesses — startups plus “shootups,” those that grow big — are the engine of new economic energy. According to the U.S. Small Business Administration, 65% of all new jobs are created by small businesses, not large ones.

Here’s the crisis: The deaths of small businesses recently outnumbered the births of small businesses. The U.S. Census Bureau reports that the total number of business startups and business closures per year crossed for the first time in 2008. In the nearly 30 years before that, the U.S. consistently averaged a surplus of almost 120,000 more business births than deaths each year. But from 2008 to 2011, an average of 420,000 businesses were born annually, while an average of 450,000 per year were dying.”

Read more:

http://www.gallup.com/opinion/chairman/195680/invisible-american.aspx

From Citizen Wells February 3, 2015.

“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.”

https://citizenwells.com/2015/02/03/5-6-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/

 

 

More here:

https://citizenwells.com/

http://citizenwells.net/

June employment increased 287k???, Hispanic employment increased 104k, White employment dropped 89k, Fewer white Americans employed now than in June 2008, Part time jobs have increased under Obama and Obamacare

June employment increased 287k???, Hispanic employment increased 104k, White employment dropped 89k, Fewer white Americans employed now than in June 2008, Part time jobs have increased under Obama and Obamacare

“In December 2014 there were 18 million immigrants (legal and illegal) living in the country who had arrived since January 2000. But job growth over this period was just 9.3 million — half of new immigration.”…Center for Immigration Studies February 2015

“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 

“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells

 

 

From the US Labor Dept. July 8, 2016.

“Total nonfarm payroll employment increased by 287,000 in June, and the unemployment rate rose to 4.9 percent, the U.S. Bureau of Labor Statistics reported today.”

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

Also from the From the US Labor Dept. July 8, 2016.

Hispanic employment rose 104,000.

White employment dropped 89,000.

There are fewer white Americans employed now than in June 2008.

And remember, a lot of the jobs/employments they are counting are part time jobs.

A legacy of Obama and Obamacare.

From Zero Hedge July 8, 2016.

“While the quantitative aspect of the June jobs report was stellar, so stellar in fact that not a single Wall Street forecaster expected it would happen, the next question is what was the qualitative component of this unprecedented Establishment Survey beat. Here are the details of the 287K jobs supposedly added:

  • Leisure and Hospitality added 59,000 minimum wage jobs
  • Education and Health also added 59,000 mostly minimum wage jobs
  • Retail Trade added 30,000 certainly minimum wage jobs

With more than half of job additions being minimum wage one can see why the June average hourly earnings increase was below the expected 0.2% (and 2.7% Y/Y), instead printing at 0.1% and 2.6%.”

Read more:

http://www.zerohedge.com/news/2016-07-08/where-june-jobs-were

 

More here:

https://citizenwells.com/

 

Obamacare to blame for losing full time jobs, Duke Fuqua School of Business CFO Magazine Global Business Outlook Survey December 11, 2013 predicted, Goldman Sachs chief economist Jan Hatzius stated jobs impact

Obamacare to blame for losing full time jobs, Duke Fuqua School of Business CFO Magazine Global Business Outlook Survey December 11, 2013 predicted, Goldman Sachs chief economist Jan Hatzius stated jobs impact

“All of the employment gains among women since the recession hit in December 2007 have been taken by foreigners, even at a time when the numbers of U.S.-born women surged more than 600,000, according to new federal statistics.”…Washington Examiner August 7, 2015

“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

“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells

 

 

When Obamacare was passed logic dictated that full time jobs would be impacted.

One did not have to be a rocket scientist to figure that out.

The business world obviously arrived at that conclusion too.

From the Duke University Fuqua School of Business CFO Magazine Global Business Outlook Survey December 11, 2013.

“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.

“The inadequacies of the ACA website have grabbed a lot of attention, even though many of those issues have been or can be fixed,” said John Graham, Duke Fuqua School of Business finance professor and director of the survey. “Our survey points to a more detrimental and potentially long-lasting problem. An unintended consequence of the Affordable Care Act will be a reduction in full-time employment growth in the United States. Companies plan to increase full-time employment by 1.4 percent in 2014, a rate of growth which is down from last quarter and unlikely to put a dent in the unemployment rate. CFOs
indicate that full-time employment growth would be stronger in the absence of the ACA.”

“I doubt the advocates of this legislation would have foretold the negative impact on employment,” said Campbell R. Harvey, a professor of finance at Fuqua and a founding director of the survey. “The impact on the real economy is startling. Nearly one-third of firms may either terminate employees or hire fewer people in the future as a direct result of ACA.”

In addition, 44 percent of companies say they will consider reducing health benefits to current employees in response to the ACA.”

Read more:

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

WE WERE WARNED.

From Zero Hedge June 11, 2016.

“It’s Time To Blame Obamacare For Losing So Many Full-Time Jobs

Had a sinking feeling about the economy of late? It may not be your imagination. Economic indicators have flashed yellow for much of 2016, and the latest jobs report shows further depletion of the work force and a dearth of job creation. That trend, says one major bank, may be attributable to President Barack Obama’s signature legislation.

Last Friday, the Bureau of Labor Statistics (BLS) released the worst jobs report in almost six years. The US economy only added 38,000 jobs, less than a tenth of the estimated 458,000 Americans who left the workforce. In fact, thanks to revisions made to the March and April reports, that exceeds the number of jobs created in the past three months (348,000) by more than 100,000. The workforce participation rate dropped back to 62.6 percent, near a 40-year low, and more than three full points below its level at the start of the recovery in June 2009 (65.7 percent).

To call this a wide miss is an understatement. Economists had predicted a moderate jobs gain, with Reuters forecast. The unemployment rate dropped to 4.7 percent, but analysts widely noted that this was a result of the large exodus from the workforce. That included an increase of 130,000 among those who have left the workforce but still desire employment, outnumbering the jobs added in May.

The news on jobs might possibly be worse than even this indicates. An economist at Johns Hopkins called into question the seasonal adjustment calculations used by the BLS. Jonathan Wright recalculated the data and concluded that the economy had lost 4,000 jobs. Instead of a three-month average jobs gain of 116,000 – well below the 131,000-jobs-added level needed to keep up with population growth at a workforce participation rate of 62.6 percent — the three-month average was actually 107,000, and 114,000 for all of 2016.”

“One data point in particular might give at least some indication why. The number of part-time workers in jobs for economic reasons shot up by 468,000, apart from the 458,000 that left the workforce altogether. Slack work or business conditions accounted for 181,000 of these jobs, while another 77,000 could only find part-time work.”

“That may not seem like a high number, given the amount of people in the US workforce. However, as we approach the seventh anniversary of the Obama recovery, the continued rise in involuntary part-time workers demonstrates a fundamental weakness in the economy, Phillips argues. As Joseph Lawler noted for The Washington Examiner, the number of people forced into part-time work has grown by over 600,000 people in the last seven months. It’s not getting better – it’s getting worse.

One key area has grown exponentially in the recovery period, though – regulation at every level. Hudson Institute fellow Marie-Josée Kravis wrote in Friday’s Wall Street Journal that federal regulation twists incentives and punishes small businesses, which provides the engine of job creation in the American economy. In 2010, Kravis notes, federal regulation put a burden on small businesses that cost 20 percent more than it did large companies, thanks to economies of scale.

Obamacare makes that situation even worse. Larger companies can distribute the costs of increased health insurance costs and the employer mandate more broadly. Smaller employers, which have less market clout and smaller room for error, feel the shock of the employer coverage mandate more directly. The ACA directly incentivizes employers to use part-time rather than full-time workers, and smaller businesses have the necessity of grasping at any competitive advantage they can get. Six years after its passage and almost three years after its implementation, Goldman Sachs still sees Obamacare as a prime driver of forced part-time employment.

As Kravis concludes, what we have been doing for the last seven years of the weakest recovery on record clearly hasn’t worked. It’s time to try something new – like getting rid of job-killing regulation, with Obamacare first on the list to go.”

Read more:

http://www.zerohedge.com/news/2016-06-11/its-time-blame-obamacare-losing-so-many-full-time-jobs

From Citizen Wells June 9, 2016.

“Goldman Crushes Democrat’s Dreams: Shows Obamacare Has Cost “A Few Hundred Thousand Jobs””

“We suspect Lloyd Blankfein will be receiving a call from The White House (or Treasury) very soon as Goldman Sachs’ economists did the unthinkable in the age of political correctness – while investigating the state of under-employment in America, the smartest people in the room found that ObamaCare has led to a rise in involuntary part-time employment, estimating that “a few hundred thousand workers” have been forced to cut hours and has “created disincentives for full-time employment.”

Goldman’s Jan Hatzius explains that they find mixed evidence to support the theory that the employer mandate under the Affordable Care Act (ACA) has contributed to the elevated level of involuntary part-time work.”

“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 !!!”

Read more:

https://citizenwells.com/2016/06/09/goldman-sachs-jan-hatzius-obamacare-caused-few-hundred-thousand-workers-hours-cut-disincentives-for-full-time-employment-involuntary-part-time-employment-white-americans-decimated-under-obama-citi/

More here:

https://citizenwells.com/

 

 

Goldman Sachs Jan Hatzius Obamacare caused few hundred thousand workers hours cut, Disincentives for full time employment, Involuntary part time employment, White Americans decimated under Obama, Citizen Wells Hatzius jobs debate

Goldman Sachs Jan Hatzius Obamacare caused few hundred thousand workers hours cut, Disincentives for full time employment, Involuntary part time employment, White Americans decimated under Obama, Citizen Wells Hatzius jobs debate

“All of the employment gains among women since the recession hit in December 2007 have been taken by foreigners, even at a time when the numbers of U.S.-born women surged more than 600,000, according to new federal statistics.”…Washington Examiner August 7, 2015

“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

“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells

 

You remember Jan Hatzius and the jobs debate with Citizen Wells?

From Zero Hedge June 8, 2016.

“Goldman Crushes Democrat’s Dreams: Shows Obamacare Has Cost “A Few Hundred Thousand Jobs””

“We suspect Lloyd Blankfein will be receiving a call from The White House (or Treasury) very soon as Goldman Sachs’ economists did the unthinkable in the age of political correctness – while investigating the state of under-employment in America, the smartest people in the room found that ObamaCare has led to a rise in involuntary part-time employment, estimating that “a few hundred thousand workers” have been forced to cut hours and has “created disincentives for full-time employment.”

Goldman’s Jan Hatzius explains that they find mixed evidence to support the theory that the employer mandate under the Affordable Care Act (ACA) has contributed to the elevated level of involuntary part-time work.

Our estimates of the effect by industry do show signs of an effect, particularly among the sectors that had the greatest gaps in required health insurance coverage prior to implementation of the mandate, but the relationship is weak.

 

It is possible that the level of involuntary part-time workers could be a few hundred thousand higher than it would be otherwise as a result of the mandate, which is a small share of the 6.4 million workers employed part-time involuntarily, but potentially a much larger share of the “underemployment gap”.”

 

“As Goldman concludes…

Overall we believe that the evidence suggests that the ACA has at least modestly elevated involuntary part-time employment.

 

While the effect is hard to quantify given the apparently loose relationship just noted, we would estimate that a few hundred thousand workers might be working part-time involuntarily as a result of the ACA. We reach this estimate by multiplying the difference between the actual and estimated involuntary part-time workers in the five sectors most affected by the ACA mandate by total employment in those sectors. We can reach a similar estimate by dividing the sectors into two groups weighted equally by total employment, and subtracting the difference between actual and estimated involuntary part-time employment in the less-affected group by the difference in the more affected group. These admittedly rough measures fall in the middle of the few academic studies on the topic, and suggest that while the effect of the ACA employer mandate is small compared to the total number of the 6.4 million workers employed part-time for economic reasons, it could constitute a more significant share of the estimated remaining “underemployment gap.”

There goes Blankfein’s invite to Hillary’s inauguration.”

Read more:

http://www.zerohedge.com/news/2016-06-08/goldman-crushes-democrats-dreams-shows-obamacare-has-cost-few-hundred-thousand-jobs

From Citizen Wells February 8, 2015.

“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.””

Read more:

http://www.zerohedge.com/news/2015-02-06/why-goldman-suddenly-banging-table-scariest-chart-jobs-report

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

 

https://citizenwells.wordpress.com/2015/02/07/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/

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 hepublished a report that asked “Bubble Trouble? Probably Yes.” In December of 2007, the economics writer Ben Stein criticized Hatzius in the New York Timesfor 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).”

Read more:

http://fortune.com/2012/11/06/obamas-best-friend-at-goldman-sachs/

Further remarks from Citizen Wells:

“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.

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 !!!”

https://citizenwells.wordpress.com/2015/02/03/5-6-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/

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.”

Read more:

http://cis.org/all-north-carolina-employment-growth-since-2000-went-to-immigrants

In conclusion, the answer is simple.

We do not have enough good jobs to maintain the same ratio of people working that we had in 2006.”

https://citizenwells.com/2015/02/08/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/

 

Obama White House media boast 4.9 percent unemployment rate, Record job growth? not if you are white, White labor force participation dropped 3.2 % under Obama, White Civilian noninstitutional population dropped 1.5 million Hispanic rose almost 8 million

Obama White House media boast 4.9 percent unemployment rate, Record job growth? not if you are white, White labor force participation dropped 3.2 % under Obama, White Civilian noninstitutional population dropped 1.5 million Hispanic rose almost 8 million

“In December 2014 there were 18 million immigrants (legal and illegal) living in the country who had arrived since January 2000. But job growth over this period was just 9.3 million — half of new immigration.”…Center for Immigration Studies February 2015

“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 

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”

 

 

Citizen Wells began warning you in 2008. The signs were all around. Obama and the Obama camp were spewing lies, Orwellian lies and the masses were entranced, captivated, brainwashed.

Obama’s promises of jobs, improved and cheaper healthcare, all lies.

And the lies continue and the Obama Ministry of Truth, the mainstream media keeps helping him.

From WhiteHouse.gov, aka Big Brother, February 5, 2016.

“Summary:
In January, the unemployment rate fell below 5 percent for the first time in eight years as the longest streak of private-sector job growth on record continued.”

https://www.whitehouse.gov/blog/2016/02/05/employment-situation-january

From Obama, the liar in chief, February 5, 2016.

“THE PRESIDENT:  TGIF, everybody.  I wanted to stop by, because as you’re aware by now, America’s businesses created another 158,000 jobs last month.  After reaching 10 percent in 2009, the unemployment rate has now fallen to 4.9 percent — even as more Americans joined the job market last month.  So this is the first time that the unemployment rate has dipped below 5 percent in almost eight years.  Americans are working.

All told, over the past six years, our businesses have added 14 million new jobs.  Seventy-one straight months of private-sector job growth extends the longest streak on record.  Over the past two years, 2014 and 2015, our businesses added more jobs than any time since the 1990s.”

https://www.whitehouse.gov/the-press-office/2016/02/05/statement-president-economy

NOT IF YOU ARE A WHITE AMERICAN!

From the US Labor Dept.:

From January 2009 to January 2016.

Civilian noninstitutional population (potential employees)

White:  1,459,000 decrease.

Hispanic:   7,798,000  increase.

Labor force participation rate

White: 3.2 % decrease.

Hispanic: 2.1 % decrease.

Employed

White:  2,166,000 increase.

Hispanic: 5,099,000  increase.

Not in labor force

White: 8,873,000 increase.

Hispanic: 3,361,000 increase.

Square these numbers with what Obama, the White House and the mainstream media are telling you.

Now you can understand why over 30 percent of millennials live with family members and hunger is rampant in this country.