How do you see Obama killing jobs?
Seriously?
The official unemployment rate is 6.2%. These are the total unemployed as a percent of the civilian labor force. But when you add in all those who are marginally attached to the labor force, plus those who are employed part time for economic reasons, discouraged, etc, that number goes up to 12.2%
using the BLS’s own numbers! The difference represents the number of full-time jobs that no longer exist.
The U.S. economy lost 523,000 full-time jobs in June. This was offset by an enormous surge of 799,000 part-time jobs. That gives us what the media is bizarrely reporting as “300,000 jobs created.” There’s no “robust growth” here. It’s a massive jump in the ongoing transformation of American into a part-time economy. It’s awful news, the sort of thing that would be making Americans howl for new leadership and new ideas, if it was reported accurately. So, why don’t these folks have full-time jobs? Obamacare, which has become the poster child for bait-and-switch, is certainly a factor. Never mind “No family making less than $250,000 a year will see any form of tax increase” and “
I will not sign a plan that adds one dime to our deficits” and all the rest.
From
The Washington Post: The CBO previously estimated that the economy would have 800,000 fewer jobs in 2021 as a result of the law. In that analysis, the CBO looked primarily at how employers would respond to a new penalty for failing to offer insurance to employees who work more than 30 hours a week. That response would include cutting people’s hours, hiring fewer workers and lowering wages for new jobs.
On Tuesday, the agency released a more detailed estimate that includes how ordinary Americans would react to those changes by employers. Some would choose to keep Medicaid rather than take a job at reduced wages. Others, who typically do not work full-time, would delay returning to work in order to keep subsidies for private insurance that are provided under the law.
As a result, by 2021, the number of full-time positions would be reduced by 2.3 million, the report said.
The reduction in employment from the health care law “includes some people choosing not to work at all and other people choosing to work fewer hours than they would have in the absence of the law,” the CBO said.
But it’s not just Obamacare. Obama’s plan to combat so-called “climate change” is predicted to force more than a third of the nation’s coal-fired power capacity to close by 2030, resulting in economic losses of $50 billion a year and the elimination of 224,000 more jobs.
BLS numbers have been cooked to show that the US regained all the jobs that were lost over the past six years… but that perspective doesn’t take into account the number of new people in the labor force or address the labor market gap created by those new people. The Urban Institute says we needed to create seven million jobs* just to keep up with the population growth*. Obviously that didn’t happen.
The facts speak for themselves.
