Why the Jobs Situation Is Worse Than It Looks

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From US News & World Report:

The Great Recession has now earned the dubious right of being compared to the Great Depression. In the face of the most stimulative fiscal and monetary policies in our history, we have experienced the loss of over 7 million jobs, wiping out every job gained since the year 2000. From the moment the Obama administration came into office, there have been no net increases in full-time jobs, only in part-time jobs. This is contrary to all previous recessions. Employers are not recalling the workers they laid off from full-time employment.
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    The real job losses are greater than the estimate of 7.5 million.  They are closer to 10.5 million, as 3 million people have stopped  looking for work. Equally troublesome is the lower labor participation  rate; some 5 million jobs have vanished from manufacturing, long  America's greatest strength. Just think: Total payrolls today amount to  131 million, but this figure is lower than it was at the beginning of  the year 2000, even though our population has grown by nearly 30  million.
The most recent statistics are unsettling and dismaying, despite the increase of 54,000 jobs in the May numbers. Nonagricultural full-time employment actually fell by 142,000, on top of the 291,000 decline the preceding month. Half of the new jobs created are in temporary help agencies, as firms resist hiring full-time workers.
Yes, I know this is an opinion article. Please note links to the following factual pieces:

Latest state-by-state statistics from the Bureau of Labor Statistics
Florida jobless rate drops again to 10.6 percent
Google News aggregate on Statewide unemployment
 
markomalley said:
From US News & World Report:
The Great Recession has now earned the dubious right of being compared to the Great Depression. In the face of the most stimulative fiscal and monetary policies in our history, we have experienced the loss of over 7 million jobs, wiping out every job gained since the year 2000. From the moment the Obama administration came into office, there have been no net increases in full-time jobs, only in part-time jobs. This is contrary to all previous recessions. Employers are not recalling the workers they laid off from full-time employment.

The real job losses are greater than the estimate of 7.5 million. They are closer to 10.5 million, as 3 million people have stopped looking for work. Equally troublesome is the lower labor participation rate; some 5 million jobs have vanished from manufacturing, long America’s greatest strength. Just think: Total payrolls today amount to 131 million, but this figure is lower than it was at the beginning of the year 2000, even though our population has grown by nearly 30 million.
The most recent statistics are unsettling and dismaying, despite the increase of 54,000 jobs in the May numbers. Nonagricultural full-time employment actually fell by 142,000, on top of the 291,000 decline the preceding month. Half of the new jobs created are in temporary help agencies, as firms resist hiring full-time workers.
Yes, I know this is an opinion article. Please note links to the following factual pieces:

Latest state-by-state statistics from the Bureau of Labor Statistics
Florida jobless rate drops again to 10.6 percent
Google News aggregate on Statewide unemployment
Click to expand...
This is Obama’s economy now. No more “blaming the mess you inherited” Mr. President.
 
And it’s not just about numbers, but about the quality of the jobs and the ability to make ends meet. When you have a record number of Americans (I forget, it’s either 30 or 40 million) getting food stamps, that tells the story better than any numbers that can be manipulated. When you go to Wal-Mart on the last day of the month, just before midnight, and you see the place is busy with families with shopping carts full of food—waiting for the new month and their food stamp cards to be renewed, you know there is a problem!
 
Scott_Lafrance said:
This is Obama’s economy now. No more “blaming the mess you inherited” Mr. President.
Click to expand...
Nuh-uhhh!!! If it wasnt for that horrible old Georgie, he wouldnt have inherited this, and couldnt have made such bad mistakes, so it is DEFINITELY George Bush’s fault…

[/sarcasm]
 
loneviking said:
And it’s not just about numbers, but about the quality of the jobs and the ability to make ends meet. When you have a record number of Americans (I forget, it’s either 30 or 40 million) getting food stamps, that tells the story better than any numbers that can be manipulated. When you go to Wal-Mart on the last day of the month, just before midnight, and you see the place is busy with families with shopping carts full of food—waiting for the new month and their food stamp cards to be renewed, you know there is a problem!
Click to expand...
Thats Messiah Obama hard at work fighting for financing planned-parenthood, entitlements and other government waste. Spending 80 million dollars to see if we can train shrimp to run on tread mills doesn’t help the economy. When the Dems learn the philosophy of steeling from the middle class to give to the poor doesn’t work, maybe something will change.

God Bless
 
Insight said:
Thats Messiah Obama hard at work fighting for financing planned-parenthood, entitlements and other government waste. Spending 80 million dollars to see if we can train shrimp to run on tread mills doesn’t help the economy. When the Dems learn the philosophy of steeling from the middle class to give to the poor doesn’t work, maybe something will change.

God Bless
Click to expand...
Ha! You forgot robots that fold laundry.
 
IMHO, it is more dismal than it appears. The events that brought us out of the Great Depression aren’t going to bring us out of this economy. Housing was one of the major events that brought us out of the Great Depression. In this case, events related to housing brought us into this economy. We have a gigantic oversupply of housing, and real estate activity has slowed down even with artificially low interest rates. Once rates are forced up, housing will sink even further.

Regulation is also killing the economy. Example: ObamaCare. My health care costs went up 60% in one year. That is because I have the insurance through my own business. If I were an individual, cost increases would be limited. But as a business, no such cap exists. Does anyone think a small business is going to simply absorb a 60% increase in benefit cost without any consequences? Benefits get cut, people get laid off, and people don’t get hired unless than absolutely have to.
 
Energy development can bring us out of this current depression/recession.

But the Obama Administration is shutting down the energy sector as fast as it possibly can.
 
Monte_RCMS said:
Energy development can bring us out of this current depression/recession.

But the Obama Administration is shutting down the energy sector as fast as it possibly can.
Click to expand...
That’s because we are going to power our factorys, cars, and heat our homes with hugs, puppy kisses, butterflies, and rainbows!
 
At this point, does anyone still believe the government numbers about unemployment? Scratch that. Does anyone still believe any of the government numbers about anything or anyone?

Real unemployment is closer to 20%. With the bailouts, the elites took care of their brethren and left everyone else to twist in the wind, yet there are still people that believe that an election and working within the system will solve things.
 
Nec5 said:
At this point, does anyone still believe the government numbers about unemployment. Scratch that. Does anyone still believe any of the government numbers about anything or anyone?

Real unemployment is closer to 20%. With the bailouts, the elites took care of their brethren and left everyone else to twist in the wind, yet there are still people that believe that an election and working within the system will solve things.
Click to expand...
I think when Obama’s term is up that the USA will be in a depression that will make the great depression look like an economic boom.

God Bless
 
Insight said:
I think when Obama’s term is up that the USA will be in a depression that will make the great depression look like an economic boom.

God Bless
Click to expand...
We are already in a depression. Noone has the stones to admit it publically.
 
The scary part is Democratic Senators are wanting to do the same old thing to “create jobs”, more government stimulus. As if that was a great success.

“Definition of Insanity: Senate Dems Want New Stimulus Spending in Deficit Reduction Plan”

michellemalkin.com/2011/06/22/senate-dems/
 
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