OBAMA-CLINTONOMICS:
THE CONTINUING TRANSFER OF AMERICA'S ECONOMY TO THE SUPER RICH
"Far from producing a genuine recovery for
the vast majority of the American people, the
economic policies of the Obama
administration, which can be summed up as
limitless subsidies for the financial industry
after the 2008 Wall Street crash and harsh
austerity for the working class, have fueled a
record growth of inequality and a drastic
decline in the social position of the working
population."
"Had the recovery under Obama been the
average of the 11 since the Depression,
according to the report, family incomes
would be $17,000 higher, six million fewer Americans would be in poverty, and there would be six million more jobs."
MILLIONS OF AMERICAN JOBS HANDED OVER TO ILLEGALS ALONG WITH BILLIONS IN WELFARE.... AND THE PARTY HAS JUST BEGUN!
"Republicans should call for lower immigration to stop the Democrat voter recruitment. But more importantly, all Americans should call for lower immigration in order to offer a better opportunity of finding jobs for those millions of their fellow Americans of all political persuasions who would like to work."
Clinton, Obama tout tepid US jobs report
By Shannon Jones
6 August 2016
Democratic presidential nominee Hillary Clinton and President Barack Obama wasted no time hailing Friday’s Labor Department employment report for the month of July, which showed a modest net increase in the number of jobs and a small increase in wages.
The department’s Bureau of Labor Statistics said total employment rose by 255,000, leaving the official unemployment rate unchanged at 4.9 percent. Average hourly earnings rose an adjusted 0.3 percent, marginally more than the projected increase of 0.2 percent.
“Today’s strong jobs report is further proof that Democratic leadership in the White House is the right choice to keep our economy growing,” interim Democratic National Committee Chair Donna Brazile said in a statement.
On Twitter, the White House boasted of the creation of 15 million new jobs over the past six-and-a-half years, a statement that was re-tweeted by Clinton.
Harry Reid, the leader of the Senate Democrats, declared that the economy had “experienced the longest streak of private-sector job growth on record” in the face of what he called “unprecedented Republican obstruction and gridlock.”
Despite such bluster, a closer look at the employment numbers reveals many indications of continuing economic stagnation and deepening hardship for wide layers of the population.
Far from producing a genuine recovery for the
vast majority of the American people, the
economic policies of the Obama
administration, which can be summed up as
limitless subsidies for the financial industry
after the 2008 Wall Street crash and harsh
austerity for the working class, have fueled a
record growth of inequality and a drastic
decline in the social position of the working
population.
vast majority of the American people, the
economic policies of the Obama
administration, which can be summed up as
limitless subsidies for the financial industry
after the 2008 Wall Street crash and harsh
austerity for the working class, have fueled a
record growth of inequality and a drastic
decline in the social position of the working
population.
The payroll figure for July was lower than that for June and followed a miserable report for May. Net payroll gains in May totaled only 38,000 jobs, the lowest monthly figure in more than five years, and even with a net increase of 287,000 in June, the average monthly increase for the first half of 2016 was well below the pace for 2015.
Moreover, government figures on economic growth show the economy expanding at an annual rate of only 1 percent, about half the pace for the period since the official end of the “Great Recession” in June of 2009—and that rate, about 2 percent, is far below the rate of growth for previous recoveries since World War II.
The most important domestic factor in the slowing rate of growth is a sharp decline in business investment, which fell in the second quarter by 9.7 percent, the third straight quarterly decline. This is a reflection of the growth of economic parasitism, as cash-rich corporations put off productive investment in order to finance stock buybacks, dividend increases and mergers and acquisitions.
What Clinton, Obama and the Democratic Party fail to mention is that the vast majority of new jobs are part-time, temporary or low-wage positions. Friday’s jobs report for July reflected this trend, with the measure of underemployment, which combines the number of officially unemployed people with the number of those who have stopped looking for work and those working part-time because they cannot find a full-time job, rose to 9.7 percent from 9.6 percent in June. The increase was largely due to a rise in the number of involuntary part-time workers.
The labor force participation rate, which measures the percentage of people in the civilian non-prison population who are 16 or older and either working or actively seeking work, remained extremely low by historical standards in July, coming in at 62.8 percent. This is a continuing indicator that millions of workers and young people have been permanently driven out of the labor market and are living at the margins of society.
In fact, the rate for men ages 25-54, considered the prime working years, was only 88.4 percent in July, matching the worst level of the year. The labor force participation rate for this demographic reached 97.9 percent in 1954.
The number of long-term unemployed, those out of work for 27 weeks or more, rose in July by 41,000 to 2 million. There are now as many long-term unemployed as there were at the low point of the 2002–2004 recession. The share of the total number of jobless who are long-term unemployed is over 26 percent.
In July, there were 2 million workers marginally attached to the labor force who were not counted in the official unemployment numbers because they had not looked for work within the past four weeks. Among the marginally attached, were 591,000 discouraged workers, those not currently looking for work because they believe there are no jobs available for them.
Among the job categories recording some of the biggest job gains were traditionally low-wage sectors such as hospitality (43,000) and food service (21,000). By comparison, employment in construction rose 14,000 and manufacturing by just 9,000.
Employment in the mining industry, which includes oil and gas extraction, declined by 6,000 in July, pointing to the impact of a slowing world economy. Since reaching a peak in 2014, the number of jobs in this industry has fallen by 220,000, or 26 percent.
According to a report by CareerBuilder, low-wage jobs, defined as those paying less than $13.81 per hour, are expected to grow by 5 percent between 2016 and 2021. Middle-income jobs, defined as those paying between $13.84 and $21.13, are expected to grow by just 3 percent. Besides the absurdity of classifying those in the $13-$21 pay range as “middle income,” the analysis points to the continuing prevalence of poverty-level and near-poverty-level jobs in the US economy.
Matt Ferguson, CEO of CareerBuilder, said, “The US is facing a sustained trend of declining middle-wage employment that has serious implications not only for workers, but for the economy overall.”
An analysis of Friday’s jobs report by the Economic Policy Institute notes that the official numbers do not include what the EPI calls “missing workers,” i.e., potential workers who because of the lack of job opportunities are neither employed nor actively seeking work. Based on the most current data available, there were 2,330,000 “missing workers” in July. If they were included in the official statistics, the unemployment rate would be 6.2 percent.
The pace of layoff announcements increased in July. Employers announced 45,346 job cuts, a 19 percent increase over June. The energy sector accounted for 17,725 of those job losses.
OBAMA’S GIFT TO HILLARIA:
OPEN BORDERS AND A MILLION MEXICAN CRIMINAL LINNING UP TO VOTE FOR MORE LA RAZA SUPREMACY!
Most Americans (legals) would be appalled to know that from day one the Obomb has funded the MEXICAN FASCIST PARTY of LA RAZA “The Race” with U.S. tax dollars and this racist party has operated out of the white house under LA RAZA V.P. Cecilia Munoz.
OBAMA-CLINTONOMICS: You were wondering how many jobs went to illegals and how well Obama’s crony banksters have done???
The sputtering economic recovering under President Obama, the last to follow a major recession, has fallen way short of the average recovery and ranks as the worst since the 1930s Great Depression, according to a new report.
Had the recovery under Obama been the
average of the 11 since the Depression,
according to the report, family incomes
would be $17,000 higher, six million fewer Americans would be in poverty, and there would be six million more jobs.
THE OBAMA-CLINTON ECONOMIC MELTDOWN ----- HOME OWNERSHIP – ECONOMIC MELTDOWN
THE OBAMA DOCTRINE: ABET CRONY BANKSTERS SO THEY CAN FINSISH OFF THE AMERICAN MIDDLE CLASS. KEEP BORDERS WIDE OPEN TO EASE MILLIONS OF MEX FLAG WAVERS INTO OUR JOBS, WELFARE OFFICES AND VOTING BOOTHS, AND EXPAND THE MEXICAN DRUG CARTELS’ MARKETS IN AMERICA’S OPEN BORDERS TO KILL OFF AMERICA’S WHITE POPULATION TO BUILD A MUSLIM-STYLE DICTATORSHIP FOR ONE BARACK OBAMA, THE “Hope & Change” HUCKSTER FROM CHICAGO.
"The decline in homeownership is one sign of the deep social crisis in the United States. As rents and housing costs have soared, spurred on by financial speculation that has enriched the ruling elites, incomes and jobs for most Americans have shriveled."
THE OBAMA DOCTRINE: ABET CRONY BANKSTERS SO THEY CAN FINSISH OFF THE AMERICAN MIDDLE CLASS. KEEP BORDERS WIDE OPEN TO EASE MILLIONS OF MEX FLAG WAVERS INTO OUR JOBS, WELFARE OFFICES AND VOTING BOOTHS, AND EXPAND THE MEXICAN DRUG CARTELS’ MARKETS IN AMERICA’S OPEN BORDERS TO KILL OFF AMERICA’S WHITE POPULATION TO BUILD A MUSLIM-STYLE DICTATORSHIP FOR ONE BARACK OBAMA, THE “Hope & Change” HUCKSTER FROM CHICAGO.
"The decline in homeownership is one sign of the deep social crisis in the United States. As rents and housing costs have soared, spurred on by financial speculation that has enriched the ruling elites, incomes and jobs for most Americans have shriveled."
…………….. WILL MEXICO ELECT ALL FUTURE AMERICAN PRESIDENTS?
AMERICAN WOMEN SAY HELL NO TO WALL STREET-BOUGHT AND PAID FOR HILLARY CLINTON.
AMERICA'S ROAD TO REVOLUTION
"This dangerous power vacuum has fueled frustration and created an entirely new breed of disenfranchised voters who are fed up with the status quo. These are real people, their anger is palpable, and it’s not going away anytime soon."
*
No comments:
Post a Comment