U
What happened to all of the doom and gloom economic threads?
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koalabear
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Busybody
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Hey yo, CURRY
Tell em
Next Time Major In CUNT STUDIES
HIGHER EDUCATION BUBBLE UPDATE: Record number of recent college grads defaulting on loans according to new report. This situation is simply unsustainable and we’re already suffering the consequences. When wage growth is slow and jobs are not as plentiful as they once were, it is impossible for people to continue taking out ever-larger student loans without greatly increasing the risk of default. There is no way around that harsh reality.”
Tell em
Next Time Major In CUNT STUDIES
HIGHER EDUCATION BUBBLE UPDATE: Record number of recent college grads defaulting on loans according to new report. This situation is simply unsustainable and we’re already suffering the consequences. When wage growth is slow and jobs are not as plentiful as they once were, it is impossible for people to continue taking out ever-larger student loans without greatly increasing the risk of default. There is no way around that harsh reality.”
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CURRY screams, THE SOURCE IS A RIGHT WING BLOG
DRYCUNT...screams something, who knows what
NIGGERS, KUZ and UD and DICK GAYLY look for white gurls to fuck
But non will admit
NIGGER OM ICKS IS FUCKING US UP!
January 31 2013
Don't Be Fooled, GDP Growth Was Even Worse than -0.14%
A few weeks ago we commented that the Great Global Rig of 2012 was ending. Yesterday's GDP print confirms this.
We noted in the second half of 2012 that the US Federal Government was engaging in a massive rig to make the economy look better than it really was in order to help the Obama re-election campaign. This showed up in the jobs data as well as the 3Q12 GDP print.
Now the election is over and we're stuck with the hangover. The mainstream media likes to claim that the fourth quarter GDP number is the result of the Government cutting spending, but the truth is that Government outlays increased 12% in 4Q12.
Indeed, the sad truth is that the US economy is actually in far worse shape than the official data indicates. As we've noted before, the Feds dramatically understate inflation to make GDP growth look better.
Case in point, the GDP deflator today is a mere 0.6% when real inflation is closer to 8%. So even the -0.14% print is in fact overstating real growth dramatically. If you account for the real increases in the cost of living in the US, GDP shrank well over 1% in 4Q12.
The impact of this will be huge. Remember that the Fed only just announced QE 3 and QE 4 in the second half of 2012. The fact that we've got this terrible GDP print in spite of this doesn't do much for the Fed's claim that QE will stimulate growth.
As we noted in yesterday's article, the Fed is already splintering on the benefits of QE. For the US to print such an ugly GDP number right after QE 3 and QE 4 were announced doesn't bode well for more aggressive policy from the Fed. But then again, we are talking about the Fed here, so they could very easily claim that the bad GDP print is because QE 3 and QE 4 are not big enough.
Regardless of this, it's clear the market is peaking out. The Russell 2000 has begun to diverge from the Dow and S&P 500. Former leaders like Apple and RIMM are tanking, while companies that are losing business rapidly (Amazon) continue to rally.
DRYCUNT...screams something, who knows what
NIGGERS, KUZ and UD and DICK GAYLY look for white gurls to fuck
But non will admit
NIGGER OM ICKS IS FUCKING US UP!
January 31 2013
Don't Be Fooled, GDP Growth Was Even Worse than -0.14%
A few weeks ago we commented that the Great Global Rig of 2012 was ending. Yesterday's GDP print confirms this.
We noted in the second half of 2012 that the US Federal Government was engaging in a massive rig to make the economy look better than it really was in order to help the Obama re-election campaign. This showed up in the jobs data as well as the 3Q12 GDP print.
Now the election is over and we're stuck with the hangover. The mainstream media likes to claim that the fourth quarter GDP number is the result of the Government cutting spending, but the truth is that Government outlays increased 12% in 4Q12.
Indeed, the sad truth is that the US economy is actually in far worse shape than the official data indicates. As we've noted before, the Feds dramatically understate inflation to make GDP growth look better.
Case in point, the GDP deflator today is a mere 0.6% when real inflation is closer to 8%. So even the -0.14% print is in fact overstating real growth dramatically. If you account for the real increases in the cost of living in the US, GDP shrank well over 1% in 4Q12.
The impact of this will be huge. Remember that the Fed only just announced QE 3 and QE 4 in the second half of 2012. The fact that we've got this terrible GDP print in spite of this doesn't do much for the Fed's claim that QE will stimulate growth.
As we noted in yesterday's article, the Fed is already splintering on the benefits of QE. For the US to print such an ugly GDP number right after QE 3 and QE 4 were announced doesn't bode well for more aggressive policy from the Fed. But then again, we are talking about the Fed here, so they could very easily claim that the bad GDP print is because QE 3 and QE 4 are not big enough.
Regardless of this, it's clear the market is peaking out. The Russell 2000 has begun to diverge from the Dow and S&P 500. Former leaders like Apple and RIMM are tanking, while companies that are losing business rapidly (Amazon) continue to rally.
mercury14
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That report said the student loan default rate went from 12.4% to 15.1% over the past three years as we went through the recession. Why is this news? Was someone expecting the rate to go down when the economy was in free fall?
Busybody
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CURRY will say
The IRS? You call THAT a source? They are a RW BLOG!
This is a disaster.....and we all wont see it until its too late
IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family
(CNSNews.com) – In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance.
To help illustrate these rules, the IRS presented examples of different situations families might find themselves in.
In the examples, the IRS assumes that families of five who are uninsured would need to pay an average of $20,000 per year to purchase a Bronze plan in 2016.
Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a "penalty" (a word the IRS still uses despite the Supreme Court ruling that it is in fact a "tax") of $2,400 in 2016.
For those wondering how clear the IRS's clarifications of this new "penalty" rule are, here is one of the actual examples the IRS gives:
“Example 3. Family without minimum essential coverage.
"(i) In 2016, Taxpayers H and J are married and file a joint return. H and J have three children: K, age 21, L, age 15, and M, age 10. No member of the family has minimum essential coverage for any month in 2016. H and J’s household income is $120,000. H and J’s applicable filing threshold is $24,000. The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000.
"(ii) For each month in 2016, under paragraphs (b)(2)(ii) and (b)(2)(iii) of this section, the applicable dollar amount is $2,780 (($695 x 3 adults) + (($695/2) x 2 children)). Under paragraph (b)(2)(i) of this section, the flat dollar amount is $2,085 (the lesser of $2,780 and $2,085 ($695 x 3)). Under paragraph (b)(3) of this section, the excess income amount is $2,400 (($120,000 - $24,000) x 0.025). Therefore, under paragraph (b)(1) of this section, the monthly penalty amount is $200 (the greater of $173.75 ($2,085/12) or $200 ($2,400/12)).
"(iii) The sum of the monthly penalty amounts is $2,400 ($200 x 12). The sum of the monthly national average bronze plan premiums is $20,000 ($20,000/12 x 12). Therefore, under paragraph (a) of this section, the shared responsibility payment imposed on H and J for 2016 is $2,400 (the lesser of $2,400 or $20,000).”
The IRS? You call THAT a source? They are a RW BLOG!
This is a disaster.....and we all wont see it until its too late
IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family
(CNSNews.com) – In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance.
To help illustrate these rules, the IRS presented examples of different situations families might find themselves in.
In the examples, the IRS assumes that families of five who are uninsured would need to pay an average of $20,000 per year to purchase a Bronze plan in 2016.
Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a "penalty" (a word the IRS still uses despite the Supreme Court ruling that it is in fact a "tax") of $2,400 in 2016.
For those wondering how clear the IRS's clarifications of this new "penalty" rule are, here is one of the actual examples the IRS gives:
“Example 3. Family without minimum essential coverage.
"(i) In 2016, Taxpayers H and J are married and file a joint return. H and J have three children: K, age 21, L, age 15, and M, age 10. No member of the family has minimum essential coverage for any month in 2016. H and J’s household income is $120,000. H and J’s applicable filing threshold is $24,000. The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000.
"(ii) For each month in 2016, under paragraphs (b)(2)(ii) and (b)(2)(iii) of this section, the applicable dollar amount is $2,780 (($695 x 3 adults) + (($695/2) x 2 children)). Under paragraph (b)(2)(i) of this section, the flat dollar amount is $2,085 (the lesser of $2,780 and $2,085 ($695 x 3)). Under paragraph (b)(3) of this section, the excess income amount is $2,400 (($120,000 - $24,000) x 0.025). Therefore, under paragraph (b)(1) of this section, the monthly penalty amount is $200 (the greater of $173.75 ($2,085/12) or $200 ($2,400/12)).
"(iii) The sum of the monthly penalty amounts is $2,400 ($200 x 12). The sum of the monthly national average bronze plan premiums is $20,000 ($20,000/12 x 12). Therefore, under paragraph (a) of this section, the shared responsibility payment imposed on H and J for 2016 is $2,400 (the lesser of $2,400 or $20,000).”
Busybody
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Socialism 101. Case Study? The Morons In France.
Written by STOOGE CURRY and his merry band of NIGGRZ and DRIED CUNT
So, you know France is a socialist utopia that's literally driving its citizens to run FAR FAR AWAY due to its 75% high-income tax rate? And you know how their leaders just can't understand why taxing-and-spending does NOT FREAKING WORK?
To put it bluntly, France is bankrupt.
"Data from the Bank of France shows capital investment is leaving the country every day. Rating agencies Moody’s and Standard & Poor’s have both already removed France’s once-coveted AAA credit.
The President is currently trying to revive France's economic fortunes by cutting spending by the equivalent of more than £51billion."
BANK. RUPT.
To try to combat being broke, not only is he planning to raise taxes even MORE over the next five years like a drunken sorority girl on spring break with her Daddy's credit card, but French President Hollande has recently had the brilliant idea of making everyone shut their lights off.
No. I'm not kidding:
The ‘bankrupt’ French government yesterday set out a law forcing all non-residential buildings to turn off their lights at night in a bid to save £600million a year.
From July 1, interior lights will have to be turned off within an hour of the last person leaving the premises, while all exterior lights and shop fronts will have to be plunged into darkness by 1am.
The new law, which is also aimed at cutting back on CO2 emissions, comes just days after a senior member of President Francois Hollande’s Socialist government said the country was ‘totally bankrupt’'.
...Environment Minister Delphine Batho said it would also make France a pioneer in Europe in preventing light pollution, which disrupts ecosystems and people's sleep patterns.'
But they're going to make some exceptions for Christmas decorations, because they're sweet like that.
Dumb AND green. But I repeat myself.
Ah yes, everyone. Behold the SUCK that is socialism. Now in the dark!
Written by STOOGE CURRY and his merry band of NIGGRZ and DRIED CUNT
So, you know France is a socialist utopia that's literally driving its citizens to run FAR FAR AWAY due to its 75% high-income tax rate? And you know how their leaders just can't understand why taxing-and-spending does NOT FREAKING WORK?
To put it bluntly, France is bankrupt.
"Data from the Bank of France shows capital investment is leaving the country every day. Rating agencies Moody’s and Standard & Poor’s have both already removed France’s once-coveted AAA credit.
The President is currently trying to revive France's economic fortunes by cutting spending by the equivalent of more than £51billion."
BANK. RUPT.
To try to combat being broke, not only is he planning to raise taxes even MORE over the next five years like a drunken sorority girl on spring break with her Daddy's credit card, but French President Hollande has recently had the brilliant idea of making everyone shut their lights off.
No. I'm not kidding:
The ‘bankrupt’ French government yesterday set out a law forcing all non-residential buildings to turn off their lights at night in a bid to save £600million a year.
From July 1, interior lights will have to be turned off within an hour of the last person leaving the premises, while all exterior lights and shop fronts will have to be plunged into darkness by 1am.
The new law, which is also aimed at cutting back on CO2 emissions, comes just days after a senior member of President Francois Hollande’s Socialist government said the country was ‘totally bankrupt’'.
...Environment Minister Delphine Batho said it would also make France a pioneer in Europe in preventing light pollution, which disrupts ecosystems and people's sleep patterns.'
But they're going to make some exceptions for Christmas decorations, because they're sweet like that.
Dumb AND green. But I repeat myself.
Ah yes, everyone. Behold the SUCK that is socialism. Now in the dark!
Busybody
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CURRY shrieks, FOX "NEWS"
DryCunt shrieks BUSYBODY IS RACIST
and the sundry NIGGERZ are still sleeping
The bankruptcy of the Obama-Pelosi 'progressive' agenda
By Peter Morici
Published January 30, 2013
No one can accuse the Democrats of being the party of personal responsibility. Confronted with an economy that contracted in the fourth quarter, Minority Leader Nancy Pelosi blamed Congressional Republicans for obstructing the president’s agenda and creating uncertainty.
In the wake of the financial collapse, the Democrats took full control of both the Congress and the presidency in 2009 and were presented with an historic opportunity to put their ideas into practice. Unfortunately, the newly elected President Obama and then-Speaker Pelosi treated the situation as a political opportunity to build a Democratic majority rather than an obligation to fix what’s broken in the economy.
Shrewdly, President Obama cobbled together a broader Democratic coalition by delivering to women free health care services, to Hispanics amnesty for young adults, to younger folks overly generous student loans, to teachers and civil servants subsidies to protect their jobs, to labor unions a rebuke of Simpson-Bowles recommendation that the retirement age be raised, and to his political friends generous subsidies for solar panels, windmills and other whimsical projects. Meanwhile, he cut defense, raised taxes on small businesses, and imposed unproductive regulations on manufacturing.
No surprise, the revolution of the takers has instigated a strike among the makers. Rather than be slaves -- yoked under burdensome taxes, regulations and endless hectoring from the Left -- small banks aren’t lending but instead are looking to sell out to the Wall Street barons who financed the President’s rise to power. Small businesses are not expanding, and multinational corporations are taking factories and jobs to China and other Asian venues where genuine enterprise and capitalism, paradoxically, is supported.
Now, Mr. Obama’s tepid recovery is failing.
When the President campaigned in 2008, he promised to address the huge trade deficits with China and oil, which together sap demand and slow growth and jobs creation, and address skyrocketing health care costs.
Early in his presidency, Mr. Obama blamed China’s undervalued currency for slow U.S. growth and warned Chinese leaders if they did not cooperate to redress the situation, he could act unilaterally. Liberal economists like Paul Krugman, conservative economists like this author and moderates like the Peterson Institute’s Fred Bergsten all recommended viable courses of action.
Sadly, the President talks tough in front of friendly audiences and to Republicans when he enjoys the high ground, but brings his kneeling pad when negotiating with Chinese leaders. He has simply done little to reverse the flow of money and jobs to the Middle Kingdom and other venues in Asia.
In the wake of the Deepwater Horizon disaster, the President punished the entire oil industry to gain political points and appease environmentalists. So much for substantially reducing the oil deficit!
His most significant accomplishment -- ObamaCare has turned into a massive subsidy for the health care industry and welfare program for working class voters he hopes to secure for the next generation. Health care costs 50 percent more than in Germany -- where outcomes are better -- and health insurance premiums and co-pays borne by business and the middle class keep rocketing.
Government spending is up over a trillion dollars, the federal deficit is spinning out of control and the country faces a credit downgrade by Moody’s. Former Speaker Pelosi vilifies Republicans for not embracing the President’s “balanced” approach, but he shows no interest in cutting spending and only passion for raising taxes on success.
America hardly lacks the technology, capital and enterprise necessary to succeed, but unfortunately, it is led by a man hell bent on building a political majority, and with little interest in fixing what’s broke in the economy.
Peter Morici is an economist and professor at the Smith School of Business, University of Maryland, and widely published columnist.
Read more: http://www.foxnews.com/opinion/2013...pelosi-progressive-agenda/print#ixzz2Je5IBoqM
DryCunt shrieks BUSYBODY IS RACIST
and the sundry NIGGERZ are still sleeping
The bankruptcy of the Obama-Pelosi 'progressive' agenda
By Peter Morici
Published January 30, 2013
No one can accuse the Democrats of being the party of personal responsibility. Confronted with an economy that contracted in the fourth quarter, Minority Leader Nancy Pelosi blamed Congressional Republicans for obstructing the president’s agenda and creating uncertainty.
In the wake of the financial collapse, the Democrats took full control of both the Congress and the presidency in 2009 and were presented with an historic opportunity to put their ideas into practice. Unfortunately, the newly elected President Obama and then-Speaker Pelosi treated the situation as a political opportunity to build a Democratic majority rather than an obligation to fix what’s broken in the economy.
Shrewdly, President Obama cobbled together a broader Democratic coalition by delivering to women free health care services, to Hispanics amnesty for young adults, to younger folks overly generous student loans, to teachers and civil servants subsidies to protect their jobs, to labor unions a rebuke of Simpson-Bowles recommendation that the retirement age be raised, and to his political friends generous subsidies for solar panels, windmills and other whimsical projects. Meanwhile, he cut defense, raised taxes on small businesses, and imposed unproductive regulations on manufacturing.
No surprise, the revolution of the takers has instigated a strike among the makers. Rather than be slaves -- yoked under burdensome taxes, regulations and endless hectoring from the Left -- small banks aren’t lending but instead are looking to sell out to the Wall Street barons who financed the President’s rise to power. Small businesses are not expanding, and multinational corporations are taking factories and jobs to China and other Asian venues where genuine enterprise and capitalism, paradoxically, is supported.
Now, Mr. Obama’s tepid recovery is failing.
When the President campaigned in 2008, he promised to address the huge trade deficits with China and oil, which together sap demand and slow growth and jobs creation, and address skyrocketing health care costs.
Early in his presidency, Mr. Obama blamed China’s undervalued currency for slow U.S. growth and warned Chinese leaders if they did not cooperate to redress the situation, he could act unilaterally. Liberal economists like Paul Krugman, conservative economists like this author and moderates like the Peterson Institute’s Fred Bergsten all recommended viable courses of action.
Sadly, the President talks tough in front of friendly audiences and to Republicans when he enjoys the high ground, but brings his kneeling pad when negotiating with Chinese leaders. He has simply done little to reverse the flow of money and jobs to the Middle Kingdom and other venues in Asia.
In the wake of the Deepwater Horizon disaster, the President punished the entire oil industry to gain political points and appease environmentalists. So much for substantially reducing the oil deficit!
His most significant accomplishment -- ObamaCare has turned into a massive subsidy for the health care industry and welfare program for working class voters he hopes to secure for the next generation. Health care costs 50 percent more than in Germany -- where outcomes are better -- and health insurance premiums and co-pays borne by business and the middle class keep rocketing.
Government spending is up over a trillion dollars, the federal deficit is spinning out of control and the country faces a credit downgrade by Moody’s. Former Speaker Pelosi vilifies Republicans for not embracing the President’s “balanced” approach, but he shows no interest in cutting spending and only passion for raising taxes on success.
America hardly lacks the technology, capital and enterprise necessary to succeed, but unfortunately, it is led by a man hell bent on building a political majority, and with little interest in fixing what’s broke in the economy.
Peter Morici is an economist and professor at the Smith School of Business, University of Maryland, and widely published columnist.
Read more: http://www.foxnews.com/opinion/2013...pelosi-progressive-agenda/print#ixzz2Je5IBoqM
Beco
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I think I read where the French thinkk they will be in and out of Mali......like in a week. Uh, that won't happen....
Busybody
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Busybody
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UNEMPLOYMENT RATE BACK UP TO 7.9%...
8,500,000 Americans Left Labor Force In Obama's First Term...
POOF: Another 170,000 disappeared in January...
Massive revisions to earlier numbers...
Gas prices to top $4 again...
WHERE ARE THE JOBS MR PRESIDENT????????????????????????
8,500,000 Americans Left Labor Force In Obama's First Term...
POOF: Another 170,000 disappeared in January...
Massive revisions to earlier numbers...
Gas prices to top $4 again...
WHERE ARE THE JOBS MR PRESIDENT????????????????????????
Busybody
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Where Are The Jobs, Mr. President?
--------------------------------------------------------------------------------
Where Are The Jobs, Mr. President?
By Peter Kirsanow
When Nancy Pelosi asked that question in 2003, the unemployment rate was 6.1 percent. The unemployment rate for blacks was 11 percent. GDP, however, was growing at a 7.2 percent clip, and barely more than a year later the unemployment rate had fallen to 4.9 percent. That didn’t stop Pelosi and her allies, including many in the news media, from repeatedly asking the above question and proclaiming the jobs picture to be the worst since Herbert Hoover.
Today’s jobs report for December marks 48 consecutive months with unemployment at 7.8 percent or higher. Black unemployment is at 14 percent, up from 13.2 percent in November. And the labor-force-participation rate remains at historic lows as waves of people continue to drop out of the job market.
But Nancy Pelosi has lost her curiosity about the location of the nation’s jobs.
Welcome to Obama Normal.
Busybody
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When you call a PILE OF SHIT......perfume......NO!
http://cdn.pjmedia.com/instapundit/wp-content/uploads/2013/02/obama-unemployment.jpg
HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): In a Continuing Indictment of Obamanomics, Another Bad Jobs Number Showing the “New Normal” of High Unemployment.
Plus, an update of that devastating graphic on what was promised vs. what has been delivered.
http://cdn.pjmedia.com/instapundit/wp-content/uploads/2013/02/obama-unemployment.jpg
HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): In a Continuing Indictment of Obamanomics, Another Bad Jobs Number Showing the “New Normal” of High Unemployment.
Plus, an update of that devastating graphic on what was promised vs. what has been delivered.
mercury14
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Let's see what we have in the January BLS report, shall we?
- +157k jobs. +166k private sector jobs minus 9k government jobs, mostly at the federal level.
- Civilian labor force participation rate unchanged.
- Marginally attached workers are down -366k from a year earlier .
- There are 804k discouraged workers, down -255k from a year earlier.
- Construction jobs rose +28k.
- Despite conservatives' ceaseless whining about the EPA, mining continues to enjoy robust job growth.
- Average hourly earnings were up 4 cents.
- The November job total was revised from +167k to +247k, and December was revised from +155k to +196k. Additionally some further-back monthly data was revised upwards.
- +143k new workers entered the labor force
- Despite the conservative narrative that about Obama is chasing people out of the labor force, the civilian labor force participation rate has only changed 0.1% over the past year.
Conservatives will tell us this is all bad news.
www.bls.gov
- +157k jobs. +166k private sector jobs minus 9k government jobs, mostly at the federal level.
- Civilian labor force participation rate unchanged.
- Marginally attached workers are down -366k from a year earlier .
- There are 804k discouraged workers, down -255k from a year earlier.
- Construction jobs rose +28k.
- Despite conservatives' ceaseless whining about the EPA, mining continues to enjoy robust job growth.
- Average hourly earnings were up 4 cents.
- The November job total was revised from +167k to +247k, and December was revised from +155k to +196k. Additionally some further-back monthly data was revised upwards.
- +143k new workers entered the labor force
- Despite the conservative narrative that about Obama is chasing people out of the labor force, the civilian labor force participation rate has only changed 0.1% over the past year.
Conservatives will tell us this is all bad news.
www.bls.gov
Busybody
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CHANGE: How ObamaCare encourages employers to reduce wages.
MEGAN MCARDLE: What If Stimulus Works, But Only In Theory: “After almost five years, real per-capita GDP is still well below its pre-crisis level. And this is not a distributional issue, where the median is dropping because the rich are hoarding too much. The amount of money available per person has actually fallen. . . . Since the financial crisis hit, we have borrowed and spent $5.7 trillion, or 41% of 2008 GDP (7.8% of total GDP over the period). That is an enormous sum. Presumably, it has raised output somewhat higher than it otherwise would have been–just as an accounting identity, it would almost have to–and yet it has left us with unemployment in the range of 8%, and per-capita GDP that is still below the pre-crisis trend.”
MEGAN MCARDLE: What If Stimulus Works, But Only In Theory: “After almost five years, real per-capita GDP is still well below its pre-crisis level. And this is not a distributional issue, where the median is dropping because the rich are hoarding too much. The amount of money available per person has actually fallen. . . . Since the financial crisis hit, we have borrowed and spent $5.7 trillion, or 41% of 2008 GDP (7.8% of total GDP over the period). That is an enormous sum. Presumably, it has raised output somewhat higher than it otherwise would have been–just as an accounting identity, it would almost have to–and yet it has left us with unemployment in the range of 8%, and per-capita GDP that is still below the pre-crisis trend.”
Busybody
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when you believe DOWN is UP
Then NO.......
White House: Unemployment Rate Jumping To 7.9% Shows “Economy Continuing To Heal”…
Don’t insult our intelligence.
Via Washington Examiner:
Today’s unemployment report for January 2013 was released this morning showing that unemployment went up from 7.8 percent to 7.9 percent.
According to Alan B. Krueger, the White House Chairman of the Council of Economic Advisers, this is an improvement although he again warned against looking too much at one month of statistics.
“While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression,” Krueger said in a statement. “It is critical that we pursue the policies needed to build an economy that works for the middle class as we continue to dig our way out of the deep hole that was caused by the severe recession that began in December 2007.”
Krueger added that it was also important for Congress to “avoid self-inflicted wounds to the economy.”
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Today’s Questions for the President
By Peter Kirsanow
February 1, 2013 10:28 A.M.
The unemployment rate for January rose to 7.9 percent, up from 7.8 percent in December, marking 49 consecutive months in which the unemployment rate has been 7.8 percent or higher. At no point during your presidency has the unemployment rate been below 7.8 percent. In contrast, the only other month in the last 29 years in which the unemployment rate was above 7.8 percent was January 1984. The jobs picture hasn’t been this bad for this long for 70 years.
What job creation measures do you plan to implement or propose in the coming months? Why will such measures be more successful than any steps you’ve taken in the last four years?
What specific job creation steps have you taken in the last four years and why haven’t they worked? What specific things did your now defunct Jobs Council do in its two years of existence to reduce unemployment? How successful were any such measures?
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