Job creation v. tax cuts

A business person said tax cuts are great at the end of year, but it doesn't help if your business has lost its base of middle calls customers because of unemployment.

Businesses rise and fall based upon sales of products and services to customers, not tax cuts.

It's the primacy of the customer, baby!

The Republicans have their own version of free stuff: tax cuts. When you look at their tax plan  most of this GOP free stuff goes to the affluent.

Tax cuts not only help the GOP base: the top earning Americans, but the reduction of revenue weakens government.

That is another part of the GOP game plan. A weakened government means less regulation and more control on part of private enterprise.

This is the conservative game plan. It is the American version of fascism, also called corporatism.

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Tampa Bay Times: Florida's unemployment rate rises to 8.8 percent

Lowest rated governor in the US

"Florida's unemployment rate jumped to 8.8 percent in July, the first increase in a year, a development that could have broad political implications."

We agree the unemployment could impact President Obama in the upcoming presidential election, but Gov. Rick Scott ran a campaign called :"Let's get to Work. "

Scott promised to create 700,00 jobs in Florida. 

"Pink Slip Rick,"a Democratic organization,  indicates Scott has actually destroyed 331,247 jobs. 

Florida's unemployment rate rises to 8.8 percent - Tampa Bay Times:

see http://www.pinksliprick.com/jobs

http://miamiherald.typepad.com/nakedpolitics/2012/06/scotts-popularity-keeps-dropping-even-within-his-own-party.html

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Bloomberg: Jobs Gains Topping Forecasts Ease U.S. Slowdown Concerns - Bloomberg

"The payrolls increase of 163,000 followed a revised 64,000 gain in June, Labor Department figures showed today inWashington. The median estimate of 89 economists surveyed by Bloomberg called for a gain of 100,000. The jobless rate, based on a separate survey of households, climbed to a five-month high of 8.3 percent."

see Jobs Gains Topping Forecasts Ease U.S. Slowdown Concerns - Bloomberg:

'via Blog this'

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The Republican Job Creator Trinity

So true. When GW Bush was in office, he talked about worker productivity, but rarely about employment or unemployment.

Modern Democratic presidents have outperformed Republicans in job creation by a 2:1 ratio.

Graphic: http://www.truthfulpolitics.com/http:/truthfulpolitics.com/comments/u-s-job-creation-by-president-political-party/

cartoon:

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Mittens to GOP: Let's talk the economy down

Rick Scott has been touting the improving Florida unemployment picture but that isn't resonating with Mittens.

Of course, when Scott was running for governor, Florida's unemployment was caused by Obama.

Mitt Romney's presidential campaign asked Florida Governor Rick Scott to tone down his statements heralding improvements in the state's economy because they clash with Mitten's message that the nation is suffering under President Barack Obama

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Is the election slip-slidding away for Obama?

Mittens is fast closing the electoral gap according the electoral map of the Huffington Post. It takes 270 to win.

Intrade also shows that the president's lead has been whittled away with Obama dropping into the low fifties and Mittens moving into the forties.

Could Romney beat Obama? With the super PAC money based on the Citizens United ruling, it is possible. Otherwise, a Romney victory would be unlikely.

What could be the cause of the undoing of the Obama presidency. Rightardia suggests the Obama administration should have emphasized jobs and housing over medical care.

The medical care battle lasted 15 months and the Democrats may have lost focus on other more pressing issues like tax reform.

However, the Obama stimulus has been successful. The Europeans tried austerity and it didn't work. Conservative governments have been turned out in Europe.

Can Obama salvage the election? Only if jobs and housing improve.

In the case of housing, interest rates are dropping but the latest data in March’s data for the S&P/Case-Shiller Home Price Indices were for the most part negative for the housing market.

Analysts have said the economy would need 150,000 per month prior to the election for Obama to win. That objective has been missed for two months: 115,00 in April and 69,000 in May,

What if Romney is elected? Past history suggests he would try to manage the economy rather than lead the nation. The Romney camp knows austerity will fail, but it is hard to teach that old Republican dog new tricks especially when you put that dog on top of your station wagon.

Romney's election would probably hasten the decline of the GOP which has been in the rear view mirror for a couple of years.


Will the Democrats cooperate with a GOP  president assuming they hold the Senate or retake the House?

This is an interesting question because if they do, it will suggest Democrats will work with a Republican president, but Republicans won't work with a Democrat.

This is a lesson that voters would be sure to notice!


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Far Left Side: Unemployment and education level

Educators have stressed the importance of education for many years.

Nor only do college educated make about twice as much in their life time. they also do a far better in holding onto their jobs.

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Mitt Zombie will reduce uneployment to 4 per cent

Yes, he is claiming he will do that. Yes, even the Tea party zombies will be employed again

Mitt Romney declared that a signal of a strong economy would be one creating roughly 500,000 jobs a month. The number was arbitrary and was probably use to counter the estimates of some experts that Obama needs to create 150,000 jobs per month to win reelection. 

There are certainly plenty of unemployed Americans who want to work.  However, the record of GOP presidents and unemployment is marginal. Democratic presidnets have outperformed Republicans for years in creating jobs. 


Who was president in 2000: Bill Clinton? How about in 1968: LBJ. In 1952, Harry Truman was president. 


Are you starting to see the trend? 


Mittens added: 


Normally, that would be cause for celebration, but anything near 8 percent or over 4 percent is not cause for celebration. 

graphic: http://www.pionline.com

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Corporate profits and unemployment at 50 year high

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Jobs data is marginal

The recovery is stalling with the US adding just 115,000 new positions in April, far less than expected.

The unemployment rate fell to 8.1% but this figure looks better than it is because many long term unemployed have dropped off of the Labor Department's radar.

The magic number for Obama may be 150,000 jobs per month to win reelection according to some labor analysts.

 

source: http://www.guardian.co.uk/business/2012/may/04/us-job-growth-slides-april-numbers?newsfeed=true

graphic source: http://www.employmentmapsandgraphs.com/

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FactCheck: Obama’s ‘War on Women’?

"What the graph shows clearly, and the numbers back up, is that men took a bigger hit than women, and the decline in jobs for men began much earlier. The downturn in male employment began in May 2007 — a full seven months before the official start (in December 2007) of what became the worst economic recession since the Great Depression. Female employment continued to rise for 10 months after the downturn in male employment, and it peaked in March 2008."

See the FactCheck article at Obama’s ‘War on Women’?

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US economy: 3.9 million new jobs in the past 24 months

Private sector employers added 233,000 jobs to their payrolls in February. 


The economy has added jobs for 24 consecutive months—that’s two full years of job growth. More than 3.9 million jobs were added during that time.

How many jobs did the Bush administration create in 8 years? The Bush administration created at best about three million jobs (net) during its eight years. 


This was a fraction of the 23 million jobs created during President Bill Clinton‘s administration.


In the past two years, the Obama Administration has created more jobs than President Bush did in two terms. 


GW Bush never said much about new jobs or unemployment. He was far more focused on worker productivity. 

graphic source: http://pushingrope.blogspot.com

source: http://www.whitehouse.gov/blog/2012/03/09/numbers-two-years

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Employment Situation in February improves

Alan Krueger

March 09, 2012 
09:37 AM EST

Today’s employment report provides further evidence that the economy is continuing to heal from the worst economic downturn since the Great Depression.

It is critical that we continue the economic policies that are helping us dig our way out of the deep hole that was caused by the recession that began at the end of 2007, including measures to help the sectors that were most severely harmed by the bubble economy that misdirected investment and created too few durable jobs.

After losing millions of good manufacturing jobs in the years before and during the recession, the economy has added 429,000 manufacturing jobs in the past two years. 

For the first time since the 1990s, the manufacturing sector is adding jobs. To support a revival in manufacturing jobs and output, the President has proposed tax incentives for manufacturers, enhanced training for the workforce, and measures to create manufacturing hubs.

Private sector payrolls increased by 233,000 jobs and overall payroll employment rose by 227,000 jobs in February. 

The unemployment rate was unchanged at 8.3%.  The unemployment rate has fallen by 0.8 percentage point during the last 6 months. 

There was an increase in the size of the labor force last month of 476,000. Importantly, the increase in the labor force last month was due in large part to a reduction in the number of workers who exited the labor force between January and February.

Despite adverse shocks that have created headwinds for economic growth, the economy has added private sector jobs for 24 straight months, for a total of more than 3.9 million payroll jobs over that period. In the last 12 months, 2.2 million private sector jobs were added on net.  In the last 6 months, 1.3 million private sector jobs were added, the most of any 6 month period in nearly 6 years. 

Sectors with net job increases included health care and social assistance (+61,100), temporary help services (+45,200), leisure and hospitality (+44,000), and manufacturing (+31,000).  Construction lost 13,000 jobs, reflecting a loss of 15,400 specialty trade contractor jobs. Employment in the Federal government fell by 7,000 jobs. 

The monthly employment and unemployment numbers can be volatile, and employment estimates can be subject to substantial revision. 

Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report; nevertheless, the trend in job market indicators over recent months is an encouraging sign.

Certainly the Obama administration can take the lion's share of credit for this turn-around. Republicans David and Debbie Downer thwarted the administration whenever they could. These are, of course, the same people who claim to be patriots. 

Mitt Romney has been saying for months that the president is doing everything wrong on the economy. Of course, in the 1 per cent top down world of Republicans and their supply side economics, Romney's comments are hardly surprising. 

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WH Blog: Jobs are on the comeback trail

In 2011, American businesses created the most jobs in any year since 2005. In fact, the private sector has added nearly 3.2 million jobs in the last 22 months.

These numbers are proof that we are steadily climbing out of the worst economic downturn since the Great Depression. 

source:  http://www.whitehouse.gov/blog/2012/01/25/numbers-32-million

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WH Blog: Everything You Need to Know About Insourcing

Posted by Matt Compton on January 11, 2012 at 3:21 PM EST

What is insourcing?

After decades of watching American companies take jobs to other countries, we're beginning to see entrepreneurs and manufactures make the decision to keep factories and production facilities here in the United States—or even bring jobs back to the U.S. from overseas.

How do we know this is happening?
For the past 22 months, the private sector has been hiring—to the tune of 3.2 million jobs. In 2011 alone, we saw private companies bring on almost 2 million new workers, more than in any year since 2005.

That's good news, even if we still have a lot of ground to make up. And if you dive into the numbers (like those compiled in this new White House report), you'll notice something interesting:

1. Business investment is up, growing by 18 percent since the end of 2009
2. We're exporting more goods and services to the rest of the world. As of October, American exports totaled $2 trillion -- an increase of almost 32 percent above the level in 2009
3. Perhaps most importantly, the manufacturing sector is recovering faster than the rest of the economy. 

Through the course of the past two years, the economy has added 334,000 manufacturing job, and that's the strongest two-year period of manufacturing growth since the 1990s.

Each of those facts is evidence of a growing trend of insourcing.

READ THE REST

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Big jump in auto sales

2011 auto sales ended up on a high note and 2012 stands to be even better. In adiition, unemployment is now at a three year low.

Of course, Mitt Romney, immediately attacked the president:

It's very good news obviously, going into the holiday season . . . But look overall at the president's record on the economy. It’s been miserable. 


OK, then who should get the credit? The 'do nothing' 112th congress?


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Christine Romer on March jobs report

April 1 (Bloomberg) -- Christina Romer, former chairman of the Council of Economic Advisers, discusses the U.S. March jobs report released today.

Payrolls increased by 216,000 workers last month, more than forecast, after a revised 194,000 gain the prior month, according to a Labor Department report today.

The unemployment rate declined to a two-year low of 8.8 percent. Romer, a Bloomberg contributing editor, speaks with Margaret Brennan on Bloomberg Television's "InBusiness."

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Pavlovian Obeisance: Just Bricks on a Wall

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National unemployment improves, Florida worsens

On the House floor, NRCC Chairman Pete Sessions kept repeating the bogus claim that health insurance reform would cost 800,000 private sector jobs.

Representative Rob Andrews challenged Chairman Sessions on his false talking point to answer how many jobs have really been lost since the passage of health insurance reform.

Chairman Sessions could not answer, because the answer is “zero.”

Representative Rob Andrews: The health care law was signed into law almost a year ago. And I wonder if anyone on the majority side could tell us how many jobs the economy has lost in that year. I’d be happy to yield. [Pause] Well seeing no answer the record – I’d be happy to yield to my friend. How many jobs has the economy lost since the health care bill was signed into law?

NRCC Chairman Pete Sessions: You know, you asked if somebody who knew the answer would stand up. I don’t know the answer. But what I will tell you is that we will have the taxation start and yet the plan kicks in in 2014 so massive taxation will start and then we’ll find out what happens.
[…]

Representative Andrews: Reclaiming my time, the answer is that the economy has added over one million private sector jobs since the health care law was signed into effect. [CSPAN, 3/9/11]

What Pete Sessions doesn’t know is that the economy has actually added over one million private sector jobs and the unemployment figure has dropped from 9.7 to 8.9 percent since health insurance reform was passed. 

The situation in Florida has worsened 

Florida shed 16,700 more jobs last month, Florida not only lost more jobs than any other state, it exceeded the net loss of jobs for the rest of entire country that was 11,000 jobs.


Florida's unemployment rate is at  a 34-year high of 11.5 percent, up from a revised 11.3 percent in October.

The state rate is now 1.5 percentage points higher than the national unemployment rate.

The Tampa Bay area's jobless rate jumped half a percentage point to 12.3 percent, making it the most job-challenged major metropolitan area in Florida.

This is not an auspicious start for grifter Governor Rick Scott who promised to create 700,000 new jobs in his recent campaign. 

What is Scott's latest solution for unemployment? Drop unemployment compensation form 26 weeks to 20 and lay-off 9500 state government workers.

See the complete story at http://www.tampabay.com/news/business/personalfinance/florida-unemployment-leaps-to-115-bay-area-to-123/1059741

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Bloomberg: Barclays Capital's Dean Maki expects unemployment drop

March 4 (Bloomberg) -- Dean Maki, chief U.S. economist at Barclays Capital Inc., discusses the February U.S. employment report and the outlook for the economy.

Maki speaks with Margaret Brennan on Bloomberg Television's "InBusiness."

Source: Bloomberg

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