Tuesday, October 7, 2014

Obama's trickle of a part-time economy (UPDATE)

For leftist ideologues, including the top One, they constantly mock the Austrian model, from Hayek's ideals to the successes of Reaganomics, denigrating it as trickle-down. When in reality, their Keynesian models combined with overwhelming welfarism produce little more than a trickle as opposed to the potential of turning the economic spigot wide open.
NYDailyNews: Happy days are not yet here again for American workers, regardless of the cheering generated by the government’s latest report on job creation.

The number of people collecting paychecks rose more than had been expected and the tally of people counted as jobless fell, placing the unemployment rate — 5.9% — at its lowest level since 2008.

While the trends are positive, they offer only distant hope to a middle class that is taking home less pay than it used to...

If you’ve been looking for low-wage, part-time work, for example, you’ve been a winner during Obama’s recovery.

The United States has roughly 3 million more part-time positions today than at the start of the economic meltdown, according to the Federal Reserve. Over that same period, the job growth touted by Obama has left the country with 3 million fewer full-time jobs.

More than 7 million people remain stuck in part-time positions because they can’t find a job with a full work week. An additional 2 million people have essentially given up hope and dropped out of the labor force.
Of course, they attempt to hide as much as possible from the public's view with their beholden mediaites, but sometimes the facts are just too blatantly obvious to ignore, like the realities of a part-time America stuck in low gear, despite the facade of numbers.
CP: While people celebrate the fact that America's unemployment rate has fallen below six percent for the first time since 2008, some economic experts say not so fast and point out the discrepancy between the unemployment rate and the number of unemployed persons.

The Bureau of Labor Statistics data released its unemployment summary for the month of September on Friday and found that the country's overall unemployment rate decreased by 0.2 percentage points to 5.9 percent, the lowest the rate has been since July of 2008. Additionally, employers added approximately 248,000 jobs in the month.

American Enterprise Institute resident scholar in economic studies Aparna Mathur told The Christian Post that in order to better judge the progress of the American economy, analysts need to look at the U-6 unemployment rate. Mathur said the U-6 rate provides better measures that takes into account people that have dropped out of the labor force due to discouragement. The U-6 rate finds that the unemployment for the month of September is really double the BLS figure at around 11.8 percent. ...

Both Mathur and Brookings Institute senior fellow in economic studies Gary Burtless agree that it is important to note that the the total labor force decreased at a faster rate than the number of persons holding a job increased. While the total unemployment rate fell by 0.2 percent, the number of unemployed persons fell by nearly 1.9 percent in September. ...

Although the Obama administration has somewhat benefited from a slow improvement to the unemployment rate, Mathur said that it is not because of any policies that the administration has implemented. She said that if policies had been implemented to address the labor market, the nation's economic growth would occur much faster.
But that would also rely on Obamanomics actually improving the lives of average Americans, unleashing the free market; however, we know by now that such a liberating goal is antithetical to the masterminds' stranglehold over us.

Related link: Job-market slack persists with workers in part-time limbo

ADDENDUM: Here's just one example of the slavish byproducts of such a stranglehold...
CNSNews: The number of Americans on food stamps has topped 46,000,000 for 35 straight months, according to data from the Department of Agriculture (USDA).


UPDATE: It would appear that Obamanomics don't translate so well into poll numbers when most now see Obama as a failure...
TheHill: A clear majority of Americans describe President Obama's tenure as a "failure" according to a new poll released Monday.

The survey from IBD/TIPP indicates that 53 percent of adults in the United States now characterize Obama's presidency as a "failure," while 41 percent chalk it up as a success. Half of the people who live in states won by Obama see his tenure negatively, as do 59 percent of those aged 25-44 years old. ...

The slide in approval of the president seems to be primarily driven by concern over his economic record. While three in four Americans say they place a "high importance" on the economy and jobs when evaluating candidates, just 31 percent say Obama is doing a good job at growing the economy.
Don't misunderstand, though. While receiving negatives on the economy, Obama's policies of fundamentally transforming America into something it was never meant to be, along with the liberal/progressive movements encouraged by him, have had detrimental successes.

Related link: Panetta Trashes Obama, the Regime Trashes Panetta -- and Just About Everyone Thinks Obama Is a Failure (Six Years Late)

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