Posts Tagged With: Unemployment

Inequality Is Replacing the American Dream…..


Inequality is replacing the American dream, because the U.S. economy — thanks to Washington’s mismanagement — is underperforming.

America still produces one-fifth of the world’s goods and services, but accounts for a much smaller share of global growth. Many U.S. products are no longer the best in class. Consequently, the economy can’t adequately employ many of its college graduates, and wages are stagnant or falling for ordinary folks.

America still has great strengths. High labor productivity, coupled with rising wages in Asia, make American workers a good value for global investors. Along with cheaper energy, thanks to the onshore oil boom, that should attract new factories, but the promised flood of new jobs has only been a trickle.

Simply put, the bureaucratic quagmire created by complex and ineffective business regulations makes it easier to produce in Asia than in America. The highest corporate tax rates among major industrialized countries make the cost of investing here too high.

It is increasingly difficult to refine and efficiently move oil to California and the Northeast — gasoline costs too much in Monterrey and heating oil costs too much in Massachusetts.

Whether businesses are taxed or directly pay for healthcare, higher costs than in Europe or Japan require radical reforms in delivery and pricing that Obamacare will not accomplish and Republicans refuse to discuss.

Germany punches above its weight. Whether in aerospace or web-based businesses, its companies compete effectively for customers in rapidly growing developing country markets by emphasizing proven technologies, execution and patience.

Cities from Bangkok to Lagos are too congested and cluttered with street vendors to support a middle-class drive to the mall retailing. German firms like Rocket Internet are recruiting suppliers and sending young women with tablets into marketplaces and workplaces to demonstrate their websites.

American companies eschew such boring approaches in search of big profits to pay for Uncle Sam’s terribly burdened regulations and taxes.

Apple will only sell the very best for the highest price, while Microsoft ties up PC customers with awkward software. Now, too few Americans can afford an iPhone and even fewer want a Windows smartphone. Korea’s Samsung offers state-of-the-art handheld devices and gives American companies fits.

In a globalized economy, America must play its strengths. It can’t continue to permit China and other Asian nations to rig their currencies, and otherwise lock out competitive U.S. exports with subsidies and protectionist regulations. In Asia, the Bush and Obama administrations have placed higher priority on other goals.

America shouldn’t import 6 million barrels a day of oil and pay the cost of policing the Persian Gulf, when opening up offshore drilling and smart conservation could eliminate foreign purchases.

Together, the trade deficit on otherwise competitive manufacturers and oil is costing Americans 5 million good-paying jobs — many that would go to struggling working-class families.

America’s best and brightest can earn big bucks by heading for Wall Street, Silicon Valley and industries that innovate and sell in global markets. Meanwhile, the army of more ordinary workers remains underemployed and underpaid.

A slow growing economy is the cause of increasing inequality, and the best way to reverse those is to clear a path for investment and entrepreneurs. The ticket is to streamline regulations, simplify and cut taxes, open up offshore energy production, radically reform healthcare and make exports and jobs America’s number one foreign policy priority.

With lower taxes how would Washington pay for entitlements and a big defense budget? Simply, an American economy growing at 5 percent and producing its own energy would need less of both and would generate a bounty of government resources for good purposes like the world has never seen.

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Obamacare Death Panels……


obama-death-panels-unemployment

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Is our Country being run by Idiots? How to tell……


You know you live in a Country run by idiots if… You can get arrested for expired tags on your car but not for being in the country illegally.

Your government believes that the best way to eradicate trillions of dollars of debt is to spend trillions more of our money.

A seven year old boy can be thrown out of school for calling his teacher “cute” but hosting a sexual exploration or diversity class in grade school is perfectly acceptable.

The Supreme Court of the United States can rule that lower courts cannot display the 10 Commandments in their courtroom, while sitting in front of a display of the 10 Commandments.

Children are forcibly removed from parents who appropriately discipline them while children of “underprivileged” drug addicts are left to rot in filth infested cesspools of a “home”.

Hard work and success are rewarded with higher taxes and government intrusion, while slothful, lazy behavior is rewarded with EBT cards, WIC checks, Medicaid, subsidized housing, and free cell phones.

The government’s plan for getting people back to work is to provide 99 weeks of unemployment checks (to not work).

Being self-sufficient is considered a threat to the government.

Politicians think that stripping away the amendments to the constitution is really protecting the rights of the people.

The rights of the Government come before the rights of the individual.

You can write a post like this just by reading the news headlines.

You pay your mortgage faithfully, denying yourself the newest big screen TV while your neighbor defaults on his mortgage (while buying i-phones, TV’s and new cars) and the government forgives his debt and reduces his mortgage (with your tax dollars).

Being stripped of the ability to defend yourself makes you “safe”.

You have to have your parents signature to go on a school field trip but not to get an abortion.

An 80 year old woman can be stripped searched by the TSA but a Muslim woman in a burka is only subject to having her neck and head searched.

Using the “N” word is considered “hate speech” but writing and singing songs about raping women and killing cops is considered “art”.

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US Planned Layoffs Jump to a 5-Month High……


The number of planned layoffs by U.S. firms jumped 41.1 percent in October to the highest level in five months, although the number includes more than 10,000 jobs in U.S.-owned auto plants in Europe, a report said on Thursday.

Employers announced 47,724 planned job cuts last month, up from September’s 33,816, according to the report from consultants Challenger, Gray & Christmas.

It was the highest level since May. U.S. automotive companies said they will let go of 11,615 workers, though that includes 10,900 Ford Motor layoffs that will affect workers in Belgium and the U.K. (Read More: Ford to Shut European Plants, Cut Jobs as Losses Mount)

The planned layoffs were modestly higher than the 42,759 announced in October last year. The total for the year so far stands at 433,725, down from 521,823 for the same period in 2011.

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Students, Grads and unemployment…..Forgotten by Obama…


Unemployment has remained stubbornly high for college graduates — it was at 8.8% for 2011. Those without a college degree are more than twice as likely to end up without jobs, however. The unemployment rate for recent high school graduates was 19.1% last year.

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Obama’s Fables……


The Little Red Hen..

“Who will help me plant my wheat?” asked the little red hen.

“Not I,” said the cow.

“Not I,” said the duck.

“Not I,” said the pig.

“Not I,” said the goose.

“Then I will do it by myself.” She planted her crop and the wheat grew
and
ripened.

“Who will help me reap my wheat?” asked the little red hen.

“Not I,” said the duck.

“Out of my classification,” said the pig.

“I’d lose my seniority,” said the cow.

“I’d lose my unemployment compensation,” said the goose.

“Then I will do it by myself,” said the little red hen, and so she did.

“Who will help me bake the bread?” asked the little red hen.

“That would be overtime for me,” said the cow.

“I’d lose my welfare benefits,” said the duck.

“I’m a dropout and never learned how,” said the pig.

“If I’m to be the only helper, that’s discrimination,” said the goose.

“Then I will do it by myself,” said the little red hen.

She baked five loaves and held them up for all of her neighbors to see.
They wanted some and, in fact, demanded a share but the little red hen
said, “No, I shall eat all five loaves.”

“Excess profits!” cried the cow.. (Nancy Pelosi)

“Capitalist leech!” screamed the duck. (Barbara Boxer)

“I demand equal rights!” yelled the goose. (Jesse Jackson)

The pig just grunted in disdain.. (Harry Reid)

And they all painted ‘Unfair!’ picket signs and marched around and
around the little red hen, shouting obscenities.

When the farmer (Obama) came he said to the little red hen, “You must
not be so greedy.”

“But I earned the bread,” said the little red hen.

“Exactly,” said Barack the farmer. “That is what makes our free
enterprise system so wonderful. Anyone in the barnyard can earn as much
as he wants. But under our modern government regulations, the
productive workers must divide the fruits of their labor with those who
are lazy and idle.”

And they all lived happily ever after, including the little red hen,
who smiled and clucked, “I am grateful, for now I truly understand.”

But her neighbors became quite disappointed in her. She never again
baked bread because she joined the ‘party’ and got her bread free. And
all the
Democrats smiled. ‘Fairness’ had been established.

Individual initiative had died but nobody noticed; perhaps no one cared
so
long as there was free bread that ‘the rich’ were paying for.

And perhaps….this is the end……………….

And the next week, there was no bread, or anything else to eat. So, they
all starved equally.

EPILOGUE

Bill Clinton is getting $12 million for his memoirs.

Hillary got $8 million for hers.

That’s $20 million for the memories from two people, who for eight
years repeatedly testified, under oath, that they couldn’t remember
anything.

DO WE LIVE IN A GREAT BARNYARD OR WHAT?

November is coming****

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1,035,000 Construction Jobs Lost Under Obama…….


President Barack Obama vowed in February 2009 that the economic stimulus legislation he was signing would create construction jobs for 400,000 people building and rebuilding the nation’s infrastructure.

But despite a price tag now estimated at $833 billion, there are 925,000 fewer construction jobs in the United States than in February 2009, and 1,035,000 fewer than when Obama was inaugurated, according to the Bureau of Labor Statistics (BLS).

And there are even 484,000 fewer jobs than when the last recession officially ended in June 2009.

When Obama signed the stimulus bill in Denver, Colo., he told a crowd: “Because we know we can’t build our economic future on the transportation and information networks of the past, we are remaking the American landscape with the largest new investment in our nation’s infrastructure since Eisenhower built an Interstate Highway System in the 1950s.

“Because of this investment, nearly 400,000 men and women will go to work rebuilding our crumbling roads and bridges, repairing our faulty dams and levees, bringing critical broadband connections to businesses and homes in nearly every community in America, upgrading mass transit, building high-speed rail lines that will improve travel and commerce throughout our nation.”

But in September 2012, according to the BLS, 5,523,000 Americans had jobs in the construction industry, down from 6,558,000 in January 2009, when Obama took office, and down from 6,448,000 in February 2009, when Obama signed the stimulus.

It is also down from 5,564,000 in January of this year, when Obama started the fourth year of his term.

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America’s hidden unemployed: too discouraged to count…..



=======================================================
(Reuters) – When Daniel McCune graduated from college three years ago, he was optimistic his good grades would earn him a job as an intelligence analyst with the government.
With a Bachelor of Science degree from Liberty University in Virginia, majoring in government service and history, McCune applied for jobs at the National Security Agency, the Federal Bureau of Investigation and other agencies.

But after a long hunt that yielded only two interviews, the 26-year-old threw in the towel last fall, joining millions of frustrated Americans who have given up looking for work.

“There’s nothing out there and there probably won’t be anything for a while,” said McCune, from New Concord, Ohio. He has moved back home to live with his parents, who are helping him pay off his college debt of about $20,000.

“I don’t like it, it’s embarrassing. I don’t want to be a burden to my parents,” said McCune, adding that he felt like a high school dropout.

Economists, analyzing government data, estimate about 4 million fewer people are in the labor force than in December 2007, primarily due to a lack of jobs rather than the normal aging of America’s population. The size of the shift underscores the severity of the jobs crisis.

If all those so-called discouraged jobseekers had remained in the labor force, August’s jobless rate of 8.1 percent would have been 10.5 percent.

The jobs crisis spurred the Federal Reserve last week to launch a new bond-buying program and promise to keep it running until the labor market improves. It also poses a challenge to President Barack Obama’s re-election bid.

The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one has fallen by an unprecedented 2.5 percentage points since December 2007, slumping to a 31-year low of 63.5 percent.

“We never had a drop like that before in other recessions. The economy is worse off than people realize when people just look at the unemployment rate,” said Keith Hall, senior research fellow at the Mercatus Center at George Mason University in Arlington, Virginia.

The participation rate would be expected to hold pretty much steady if the economy was growing at a normal pace. Only about a third of the drop in the participation rate is believed to be the result of the aging U.S. population.

SLOW PROGRESS

The economy lost 8.7 million jobs in the 2007-09 recession and has so far recouped a little more than half of them.

Economists say jobs growth of around 125,000 per month is normally needed just to hold the jobless rate steady.

Given the likelihood that Americans will flood back into the labor market when the recovery gains traction, a pace twice that strong would be needed over a sustained period to make progress reducing the unemployment rate.

Last month, employers created just 96,000 jobs.

Roslyn Swan lost her job in 2007 as a portfolio associate at a financial firm in New York. After submitting hundreds of applications, the 44-year-old is taking a break.

“Maybe after the elections,” Swan said of her next attempt to get work. “I know that I will be employed again. I don’t know when, but I know it will happen.”

Americans of all ages are leaving the workforce, but the problem is most acute in the 20-24 age group, where the participation rate has plunged by 4.4 percentage points since December 2007.

Many Americans typically start working in their teens, taking part-time jobs after school and over summer vacations, a tradition that is supposed to instill a work ethic. With many failing to secure jobs after graduating from high school and college, analysts worry about U.S. competitiveness.

“Because of delays to their career, the skills set accumulation that normally happens in the first or third job is not happening,” said Paul Conway, president of Generation Opportunity in Washington, a non-profit, non-partisan organization that works with 18- to 29-year-olds on economic issues.

TOUGH ON YOUNG WORKERS

Last month, the proportion of 20- to 24-year-olds in the labor force was its lowest since 1972. Other age categories are faring little better. The 25-54 age group has seen a decline of 1.8 percentage points since December 2007.

Some, like 27-year-old Casey Potts, have gone back to school. She is studying nursing in Kentucky after losing her medical sales job.

“If I had stayed in medical sales, I would be job searching now,” said Potts.

But separate surveys by the Economic Policy Institute (EPI) and Generation Opportunity found little evidence that young people were going back to school when unable to land a job.

One deterrent is the rising cost of education and record levels of student debt. About two-thirds of 2012 college graduates left school in debt, owing on average $28,700 in student loans, according to Mark Kantrowitz, publisher of FinAid.org.

“Young people dropping out of the labor force to go back to school would be a silver lining if it were true,” said Heidi Shierholz, a senior EPI economist, adding that enrollment had gradually been increasing for decades.

A Generation Opportunity survey published in August showed a third of young people were putting off additional training and post-graduate studies because of the sour economy.

“This is significant. People are making the decision to put those off because the assurance of a return to investment is not there,” said the non-profit’s Conway, a veteran observer of the labor market as a former Department of Labor chief of staff.

He said his organization found that young people were doing unpaid internships at nonprofit groups and businesses to prevent their skills from atrophying. Others were joining the military.

Some economists say the participation rate does not paint a true picture because people find work in the informal sector, ranging from legal activities such as child care to crime in some cases.

“People are picking a buck here and there and not being reported in anybody’s payroll,” said Patrick O’Keefe, head of economic research at J.H. Cohn in Roseland, New Jersey.

“They will say they are not doing anything, even as they have a job and are being paid under the table,” said O’Keefe, a former deputy assistant secretary at the Labor Department. “We do not know to what extent that is going on.”

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Unemployment Rates Rise in 44 States in July, Including Nine Presidential Battlegrounds


Unemployment rates rose in 44 U.S. states in July, the most states to show a monthly increase in more than three years and a reflection of weak hiring nationwide.

The Labor Department said Friday that unemployment rates fell in only two states and were unchanged in four.

Unemployment rates rose in nine states that are considered battlegrounds in the presidential election. That trend, if it continued, could pose a threat to President Barack Obama’s re-election bid in less than three months.

In Nevada, the rate rose to 12 percent in July from 11.6 percent the previous month. That’s the highest rate in the nation, though it’s still much lower than a year ago, when it was 13.8 percent.

And in Michigan, the rate has increased to 9 percent, from 8.5 percent two months earlier.

Unemployment also increased in Florida, Virginia, North Carolina, Iowa, Pennsylvania, Michigan, Colorado, Wisconsin and New Hampshire.

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