Tag Archives: Labor force participation rate plummeted

Obama and Federal Reserve lying about state of US Economy, Most Americans worse off, Labor force participation rate plummeted, Part time workers up 54 percent, Full time jobs million plus drop

Obama and Federal Reserve lying about state of US Economy, Most Americans worse off, Labor force participation rate plummeted, Part time workers up 54 percent, Full time jobs million plus drop

“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″

 

 

We have been trying to present the truth about the jobs situation and US economy despite the best efforts of the Obama Administration and media to obfuscate.

From Zero Hedge October 21, 2014.

“19 Surprising Facts About The Messed Up State Of The US Economy”

“Barack Obama and the Federal Reserve are lying to you.  The “economic recovery” that we all keep hearing about is mostly just a mirage.  The percentage of Americans that are employed has barely budgedsince the depths of the last recession, the labor force participation rate is at a 36 year low, the overall rate of homeownership is the lowest that it has been in nearly 20 years and approximately 49 percent of all Americans are financially dependent on the government at this point.  In a recent article, I shared 12 charts that clearly demonstrate the permanent damage that has been done to our economy over the last decade.  The response to that article was very strong.  Many people were quite upset to learn that they were not being told the truth by our politicians and by the mainstream media.  Sadly, the vast majority of Americans still have absolutely no idea what is being done to our economy.  For those out there that still believe that we are doing “just fine”, here are 19 more facts about the messed up state of the U.S. economy…

#1 After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.

#2 The number of part-time workers in America has increased by 54 percent since the last recession began in December 2007.  Meanwhile, the number of full-time jobs has dropped by more than a millionover that same time period.

#3 More than 7 million Americans that are currently working part-time jobs would actually like to have full-time jobs.

#4 The jobs gained during this “recovery” pay an average of 23 percent less than the jobs that were lost during the last recession.

#5 The number of unemployed workers that have completely given up looking for work is twice as highnow as it was when the last recession began in December 2007.

#6 When the last recession began, about 17 percent of all unemployed workers had been out of work for six months or longer.  Today, that number sits at just above 34 percent.

#7 Due to a lack of decent jobs, half of all college graduates are still relying on their parents financially when they are two years out of school.

#8 According to a new method of calculating poverty devised by the U.S. Census Bureau, the state of California currently has a poverty rate of 23.4 percent.

#9 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

#10 In 2007, the average household in the top 5 percent had 16.5 times as much wealth as the average household overall.  But now the average household in the top 5 percent has 24 times as much wealth as the average household overall.

#11 In an absolutely stunning development, the rate of small business ownership in the United States has plunged to an all-time low.

#12 Subprime loans now make up 31 percent of all auto loans in America.  Didn’t that end up really badly when the housing industry tried the same thing?

#13 The average cost of producing a barrel of shale oil in the United States is approximately 85 dollars.  Now that the price of oil is starting to slip under that number, the “shale boom” in America could turn into a bust very rapidly.

#14 On a purchasing power basis, China now actually has a larger economy than the United States does.

#15 It is hard to believe, but there are 49 million people that are dealing with food insecurity in America today.

#16 There are six banks in the United States that pretty much everyone agrees fit into the “too big to fail” category.  Five of them have more than 40 trillion dollars of exposure to derivatives.

#17 The 113 top earning employees at the Federal Reserve headquarters in Washington D.C. make an average of $246,506 a year.  It turns out that ruining the U.S. economy is a very lucrative profession.

#18 We are told that the federal deficit is under control, but the truth is that the U.S. national debt increased by more than a trillion dollars during fiscal year 2014.

#19 An astounding 40 million dollars has been spent just on vacations for Barack Obama and his family.  Perhaps he figures that if we are going down as a nation anyway, he might as well enjoy the ride.”

Read more:

http://www.zerohedge.com/news/2014-10-21/19-surprising-facts-about-messed-state-us-economy

 

 

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MarketWatch.com and NC Governor Pat McCrory fail to present true employment in North Carolina, January unemployment rate 9.5 percent, Fewer employed in November, Labor force participation rate plummeted

MarketWatch.com and NC Governor Pat McCrory fail to present true employment in North Carolina, January unemployment rate 9.5 percent, Fewer employed in November, Labor force participation rate plummeted

“You can’t fix a problem unless you acknowledge and understand it.”…Citizen Wells

“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″

 

 

The unemployment rate in North Carolina in January was 9.5 percent.

There were more people employed in NC in January than November.

From MarketWatch.com January 8, 2014.

“What happens when jobless benefits are cut? North Carolina may offer clues”
“Last summer, North Carolina slashed the amount of cash it gave to people after they lost their jobs and the state also reduced the number of weeks they could receive benefits. Within several months, the unemployment rate fell a few ticks and by November it fell to a five-year low.”

“As a result, some 70,000 North Carolinians lost out on extra federal benefits at the end of last June.

So what happened? North Carolina’s jobless rate rose a notch to 8.9% in July and then began a steady descent: 8.7% in August, 8.3% in September, 8.0% in October and a preliminary 7.4% in November, according to U.S. Labor Department figures.

That’s the lowest rate since late 2008, though monthly numbers are prone to sharp revisions.

Government data also shows that more than 22,000 North Carolinians found work since the cutoff and the number of unemployed sank by nearly 73,000 to 344,000.

What the data doesn’t tell us, however, is what happened to all the people no longer classified as unemployed. While some found a job, others may have retired, ended up on welfare, moved in with family members, sought disability payments or fled to a nearby state with better benefits. We just don’t know.”

Read more:

http://blogs.marketwatch.com/capitolreport/2014/01/08/what-happens-when-jobless-benefits-are-cut-north-carolina-may-offer-clues/

From the Greensboro News Record January 7, 2014.

““We had the highest tax rates in the Southeast,” McCrory said. “… We think this tax reform, which lowered your corporate tax rates and lowered your income tax rate, will help existing businesses grow and help in the recruitment of new businesses and we’re already seeing a very positive impact.””
“McCrory cited the 2 percentage point drop in the state’s unemployment rate since he took office last January as evidence of the success of his administration’s agenda.”

Read more:

http://www.news-record.com/news/north_carolina_ap/article_fe4eeb5a-9ccf-57d7-b50b-6265f99285cc.html

From Citizen Wells December 22, 2013.

“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.”

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

https://citizenwells.wordpress.com/2013/12/22/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/