Unemployment

Baghdad Bobs of Obamacare

Featured image The technical issues that have bedeviled the rollout of Obamacare don’t go to the root of the law’s evil. Nonetheless, the dishonesty with which the administration has publicly addressed them is endemic and representative of the foundational lies of Obamacare. In the rollout we see that Kathleen Sebelius is the Bagdhad Bob of Obamacare. Appearing in Pittsburgh with Steelers’ owner Dan Rooney to promote the wonders of Obamacare — the »

Wages of Obamacare

Featured image Obamacare has been an enormous engine of economic destruction even prior to its passage, from the time it emerged on the legislative horizon. The evidence is obvious and ubiquitous. White House flack Jay Carney has responded to a question on one aspect of the damage done — the suppression of growth in full-time employment — with the usual falsehoods and non sequiturs: I would say broadly that if you look »

Jeff Sessions Blasts Obamanomics

Featured image Regular readers of this site know that I am a big fan of Senator Jeff Sessions. Sessions has been the most effective opponent of the Senate Gang’s immigration bill; his opposition is based primarily on the damage that a massive influx of new, low-skill immigrants would do to America’s working men and women. Sessions has now embarked on a series of speeches on the economy, and how it has been »

Labor Force Participation Hits 34-Year Low

Featured image A comprehensive disaster like the Obama administration can’t be summed up in one statistic, but the one that comes closest is labor force participation. The combined effect of many misguided policies–Obamacare, ballooning spending, massive debt, tax increases, subsidizing of inefficient energy, anti-growth regulation, encouragement of food stamp fraud, and many more–has been to drive many millions of Americans out of the labor force. Express Employment Professionals has produced a white »

Who Cares About Unemployment When We’ve Got Gay Marriage?

Featured image Today the Minnesota Senate passed a bill authorizing gay marriage which will be signed into law by our governor, Mark Dayton. That is the context for this text, which my oldest daughter sent me a few minutes ago: If I had a dollar for every #time4marriage hashtag on my feed I’d be rich. Someone should start a #time4jobs trend, seeing as there are approx. twice as many unemployed Americans as »

The sequester, jobs, politics, and national security

Featured image The White House, through economist turned flack Alan Krueger, wasted no time in blaming yesterday’s lousy jobs report on the sequester. It’s a ridiculous claim. As we observed, government employment held steady, and the sequester is too recent to have affected the private sector. Mark Zandi, chief economist at Moody’s, who is frequently cited by the Obama administration, agrees that the sequester is not yet in play. Zandi told CNBC: »

The Jobs Report and Immigration

Featured image Senator Jeff Sessions released this statement about today’s disappointing jobs numbers: Today’s jobs report reveals that 90 million Americans are now outside the labor force. We need to be getting Americans back to work, helping people move off of food stamps and welfare, and find good jobs with steady incomes. But the comprehensive immigration bill being drafted right now would provide nearly immediate work authorization to millions of illegal immigrants »

U.S. added only 88,000 jobs in March

Featured image The latest government jobs reports finds that only 88,000 jobs were added in March. That’s half of the 12 month average and less than half of what most experts expected. The unemployment rate actually declined slightly to 7.6 percent. This is the result of the decrease of folks looking for work. The labor-force participation rate dropped from 63.5 percent to dropped to 63.3 percent, its lowest point since 1978, according »

Tough times in Europe

Featured image Under President Obama, the old normal unemployment rate in the former Western Europe — around 8 percent — seems to have become the new normal in the United States. I guess there’s at least poetic justice in this, since leading Democrats like Obama and John Kerry tend to see Western Europe as a model for the U.S. Unfortunately, though, the new normal unemployment rate in Europe is much higher than »

Democrats Demagoguing the Minimum Wage, Again

Featured image John Cochrane of the University of Chicago and Stanford said it succinctly: Once upon a time, the minimum wage, like free trade, was a basic test of whether you were awake in the first week of econ 1. We put a horizontal line in a supply and demand graph. Minimum wages increase unemployment of poor people. Yes, that fact was once considered so obvious that, if I recall correctly, both »

The real unemployment

Featured image Megan McArdle makes this point in the context of the minimum wage, but it is one that I have tried to make a couple of times in the context of Obama’s many and varied employment-suppressing policies generally: The thing about unemployment is that it’s much, much worse than having a crap low-wage job. It’s worse than almost anything. It’s one of those life events that people never really recover from. »

Is Ned Ludd Writing for the Associated Press?

Featured image The Associated Press has undertaken an ambitious series of reports on the rotten U.S. and global economies. To its credit, the AP recognizes that our current recovery is, by any historical standard, awful: In the U.S., the economic recovery that started in June 2009 has been called the third straight “jobless recovery.” But that’s a misnomer. The jobs came back after the first two. Most recessions since World War II »

Another weak jobs report

Featured image Now that the election is over, most of us don’t wait quite as breathlessly for the monthly job reports; nor is the media’s urge to spin them quite as strong. But the reports remain consequential and the temptation to spin remains strong. Today’s report shows that employers added 155,000 jobs in December 2012. The unemployment rate for December was 7.8 percent, unchanged from November (the November rate originally was 7.7 »

Another poor jobs report

Featured image Superficially, the November jobs report doesn’t look bad. Non-farm jubs increased by almost 150,000 and the unemployment rate dropped to a four year low of 7.7 percent. Viewed with a little more sophistication, the report looks worse. 150,000 new jobs isn’t very impressive. And the drop in the unemployment rate stems from the large number of Americans who stopped looking for work. In fact, the deeper one drills down, the »

Labor Department likely to issue jobs report on Friday

Featured image Despite initial suggestions to the contrary, it now appears that the U.S. government’s jobs report for October will issue on Friday, as scheduled. Earlier, it was thought that the disruption likely to be caused by Hurricane Sandy in the Washington, D.C. area might well prevent the timely preparation of the report, and there was even speculation no report would be released until after the election. Hurricane Sandy did disrupt the »

Our Awful Economy, In One Chart

Featured image Michelle Obama says we are “in the midst of a huge recovery.” That claim is laughable to anyone who has lived through the last four years; this simple chart from the Senate Budget Committee highlights one of the central failings of Obamanomics: people are leaving the labor force faster than they are entering it. Since Obama became president ten times as many people have been added to the roster of »

The real unemployment, cont’d

Featured image I’ve written a few times about “the real unemployment” that is bedeviling the country as a result of Barack Obama’s destructive policies. My previous comments should be supplemented by Elizabeth MacDonald’s Fox Business column of this past Friday on “The real unemployment rate.” Now comes Americans For Prosperity with a powerful political ad titled “The Dinner Table.” It is an ad that captures something of the widespread suffering I mean »