Tag Archives: Fact vs fiction

Labor Secretary Perez on March employment numbers, Fact vs fiction, Solid and steady economic recovery?, Obamacare helping working families enjoy greater economic security?

Labor Secretary Perez on March employment numbers, Fact vs fiction, Solid and steady economic recovery?, Obamacare helping working families enjoy greater economic security?

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

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

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

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

 

 

The US Labor Dept. reported the March employment data on Friday April 4, 2014.

US Secretary of Labor Thomas E. Perez issued the following statement:

“Today’s report tells the story of a solid and steady economic recovery delivering more opportunity for more people. We saw 192,000 new jobs in the month of March, and the private sector has now created 8.9 million jobs over the last 49 consecutive months of employment growth. The unemployment rate held steady at 6.7 percent and is down from 7.5 percent a year ago.
“There is encouraging news across sectors. Health-care employment increased by 19,000 jobs. The average work week in manufacturing rebounded to 42.0 hours, tied for the highest mark since July 1945. Motor vehicle sales had their strongest month in seven years. At the height of the recession, there were six job seekers for every job available. Today, it’s two-and-a-half people competing for every open job.
“Without question, there is more still to do. On issues from infrastructure to immigration reform, from manufacturing to the minimum wage, there are steps Congress can take that will help more people punch their ticket to the middle class.
“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks. So, priority number one must be for the House and Senate to extend emergency unemployment benefits that they irresponsibly allowed to expire more than three months ago, creating profound hardship for 2.3 million people. These benefits are a critical lifeline for job seekers struggling to get back on their feet; but they also act as a broader economic stimulus, putting money in people’s pockets and spurring consumer demand.
“The success of the Affordable Care Act is helping working families enjoy greater economic security, the peace of mind of knowing they won’t be wiped out by an injury or illness. The open enrollment period ended with 7.1 million people signing up for health coverage they didn’t have before. The ACA will help provide a shot in the arm to the economy, as people are free to start their own businesses and pursue entrepreneurial ventures now that their health insurance is no longer tied to their job.”

http://www.dol.gov/opa/media/press/opa/opa20140572.htm

The “1984” analogy is obvious.

As most of you know, Obamacare is costing millions of Americans far more in healthcare premiums.

Despite the best linguistic efforts of Secretary Perez to put a positive spin on the impact of Obamacare, it is also impacting jobs.

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

“——————————————-
DUKE UNIVERSITY NEWS
Duke University Office of News & Communications

http://www.dukenews.duke.edu

——————————————-

FOR IMMEDIATE RELEASE: Wednesday, Dec. 11, 2013
CONTACTS: Kevin Anselmo (Duke’s Fuqua School of Business)
(919) 660-7722
kevin.anselmo@duke.edu
or
David W. Owens (CFO Magazine)
(617) 790-3000
davidowens@cfo.com

CFO SURVEY: AFFORDABLE CARE ACT COULD CURTAIL HIRING

Note to editors: For additional comment, see contact information at the end of this release.
Watch professor John Graham discuss the results (or use this link
http://youtu.be/F4oj8d5F9Jo). You may also post this video on your website. Names of CFOs who took part in the survey and agreed to speak with media are available by request.

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

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

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

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

EMPLOYMENT EFFECTS OF THE AFFORDABLE CARE ACT

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

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

Read more:

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

From data provided by the US Labor Dept. we learn:

The Labor Force Participation Rate has dropped 2.5 percent since Obama took office in January 2009 and actually has dropped .1 percent the past year.

The number of people who could only find part time work has risen 1,055,000 since Obama took office and has risen 146,000 in the past year.

The only statement from Secretary Perez that reflects reality is:

“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks.”

 

NC employment November 2013, Fact vs fiction, Unemployment rate drops from 9.5 to 7.4 percent, Jan to Nov 2013, Fewer working in Nov than Jan, Labor force participation rate plummets

NC employment November 2013, Fact vs fiction, Unemployment rate drops from 9.5 to 7.4 percent, Jan to Nov 2013, Fewer working in Nov than Jan, Labor force participation rate plummets

“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

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

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

I expect orwellian employment reporting from the Obama controlled US Government. I am less inclined to expect the same from the state of NC.

The unemployment rate fell from 9.5 percent in January to 7.4 percent in November. Yet there were fewer people employed in November than January.

More on this below.

Once again the Greensboro News record has done a fair job of pointing out that much of the decline in the unemployment rate was due to people dropping out of the Labor Force.

From the News Record December 21, 2013.

“North Carolina’s unemployment rate declined sharply in November to its lowest level in more than five years, the state Commerce Department said Friday, but seemingly inconsistent data raise questions about how many new jobs are actually being created.

The jobless rate of 7.4 percent compares to 8 percent in October and 8.9 percent back in July. The state rate is also inching closer to the national rate, which was 7 percent in November.

The department’s Labor and Economic Analysis Division said the number of people employed in North Carolina grew in the past month by just over 20,000 to more than 4.3 million.

But the labor force itself declined by 8,100, attributed in part to the long-term unemployed giving up on looking for work, said Andrew Brod, a senior researcher within the business school at the University of North Carolina at Greensboro. Over the past 12 months, the labor force has declined by 95,000, while the number of employed has grown by just 6,100, according to division data.

With more detailed industry survey data released showing total nonfarm employment falling by 6,500 positions, Brod said it’s uncertain how much of the drop in the jobless rate is actually due to more hiring.

The unemployment number “looks great, but it’s a continuation of a six-month trend at least in which drops in the unemployment rate are happening mostly because of people leaving the labor force,” Brod said in an interview. “This number looks good, but I take it with a grain of salt.””

Read more:

http://www.news-record.com/news/north_carolina_ap/article_690e003d-6c30-5704-b651-33e0326c7e63.html

Why is the following not being reported?

In January of 2013 there were 4,322,922 people employed.

In November of 2013 there were 4,314,502 people employed.

The labor force participation rate plummeted from 63.4 percent to 61.3 percent in the same period.

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

This is good news???

Obama BLS jobs data recap August 3, 2013, Fact vs fiction, Employment data rectified as in 1984, Orwellian wordsmithing or outright lies?, Labor force dropouts part time workers and food stamps reveal truth

Obama BLS jobs data recap August 3, 2013, Fact vs fiction, Employment data rectified as in 1984, Orwellian wordsmithing or outright lies?, Labor force dropouts part time workers and food stamps reveal truth

“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”

 

 

You are being lied to.

Don’t take my word for it.

Look it up.

This past week, we received the usual Orwellian reporting on jobs, unemployment rate, initial claims and the economy.

This Market Watch heading was typical.

“Payrolls disappoint,
but unemployment falls.”

No mention of the one month drop in the Labor Force Participation Rate or the huge drop since Obama took the White House in January 2009.

On Thursday the BLS reported initial claims were 326,000. No wonder. Think about it. Huge numbers have dropped out of the labor force.

And part time workers. You don’t have to fire them, just cut back on their hours.

From the BLS Employment Situation report for July 2013.
“Both the number of unemployed persons, at 11.5 million, and the unemployment rate, at 7.4 percent, edged down in July. Over the year, these measures were down by 1.2 million and 0.8 percentage point, respectively.”

“The civilian labor force participation rate was 63.4 percent in July, little changed over the month.”

“Among the marginally attached, there were 988,000 discouraged workers in July, up by 136,000 from a year earlier.”

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

The  Labor Force Participation Rate dropped .1 percent in July. That is significant.

The increase of 136,000 discouraged worker from 2012 is certainly significant.

So, do you believe that the unemployment rate is 7.4 percent and that the jobs situation has improved since Obama took office in January 2009?

                                                                               Jan 2009          July 2013
Labor Force
Participation Rate                                                 65.7                    63.4
Employment
Population Ratio                                                   60.6                    58.7
Could only find
part time work                                                    1,676,000   2,665,000
Not in Labor Force                                         81,293,000  88,560,000
Not in Labor Force
Want a Job Now                                                5,866,000    6,862,000
Not in labor force
Discouraged                                                         734,000         988,000

Gulf Oil Crisis, Fact vs fiction, Guilty dog barks loudest, Obama actions, Interior Department actions, Open Thread, June 20, 2010

Gulf Oil Crisis, Fact vs fiction, Guilty dog barks loudest, Obama actions, Interior Department actions

“The Guilty dog barks the loudest.”

For the sheep following mainstream media coverage of the Gulf Oil Crisis, the reality is that BP is a greedy oil company and deserves all the blame for this crisis. And of course Obama is innocent and he is fighting the big corporations and he is going to kick some ass.

BP should be held accountable for their mistakes. However, Obama, the US Government, the Interior Department and  Minerals Management Service, MMS, certainly share a large part of the blame. They encouraged drilling in the Gulf and were about to open up areas for drilling twice as deep as the current crisis depth.

Gulf Oil Disaster

Fact vs Fiction

Part 1

Hypocrisy at the highest levels

From the Office of the White House Press Secretary March 31, 2010.

“Obama Administration Announces Comprehensive Strategy for Energy Security”

“As part of the Administration’s comprehensive energy strategy President Barack Obama and Secretary of the Interior Ken Salazar today announced more details of the Obama Administration’s efforts to strengthen our energy security.  President Obama and Secretary Salazar announced that the Administration will expand oil and gas development and exploration on the U.S. Outer Continental Shelf (OCS) to enhance our nation’s energy independence while protecting fisheries, tourism, and places off U.S. coasts that are not appropriate for development.”

From the U.S. Department of the Interior News Release March 31, 2010.

“The Obama Administration’s strategy calls for expanded development and production throughout the Gulf of Mexico, including resource-rich areas of the Eastern Gulf of Mexico that are currently under Congressional moratorium and closed to development.

Read more:

https://citizenwells.com/2010/06/18/gulf-oil-disaster-fact-vs-fiction-part-1-hypocrisy-at-highest-levels-obama-lies-interior-department-policies-ken-salazar-elizabeth-birnbaum/

Gulf Oil Disaster

Fact vs Fiction

Part 2

Hypocrisy at the highest levels

On April 1, 2010 we learned the following from Ken Salazar and the US Interior Department.

“NEW ORLEANS, LA – Secretary of the Interior Ken Salazar today announced that the next federal oil and gas lease sale in the Gulf of Mexico will occur in New Orleans on August 18, 2010. The Secretary made the Western Gulf of Mexico Lease Sale 215 announcement during a tour of Superior Energy Services.”

“The available blocks in Sale 215 are located from 9 to about 250 miles offshore in water depths of 16 to more than 10,975 feet (5 to 3,346 meters). The Department of the Interior’s Minerals Management Service (MMS) estimates the proposed lease sale could result in the production of 242 to 423 million barrels of oil and 1.64 to 2.64 trillion cubic feet of natural gas.”

“The available blocks in Sale 215 are located from 9 to about 250 miles offshore in water depths of 16 to more than 10,975 feet”

10, 975 feet is twice the depth of the current drilling disaster.

Read more:

https://citizenwells.com/2010/06/19/gulf-oil-disaster-fact-vs-fiction-part-2-hypocrisy-at-highest-levels-obama-us-interior-department-minerals-management-service-created-problem-federal-oil-and-gas-lease-sale-gulf-of-mexico-august/