Ever since Hillary Clinton's husband granted permanent normal trade relations to China, the U.S has lost over 64,000 manufacturing firms and at least 5.8 million manufacturing jobs.
Monday, September 29, 2014
Saturday, September 27, 2014
* Skip reading this post and just go directly to the poll, which asks: "What group of people are primarily responsible for the decline in the U.S. labor force since the beginning of the new century?"
After I present you with a few basic statistics, please take my poll at the end of this post.
* Part of this post was excerpted and edited from a post at AOL JOBS: More Than 1 Million Baby Boomers Are Secretly Unemployed (by Claire Gordon).
The Bureau of Labor Statistics releases its tabulation of the unemployment rate every month. But that leaves out one major segment of the population: Those forced into early retirement.
Friday, September 26, 2014
While Mitt Romney may have been the poster boy of those who ran a company that offshored jobs to China, it was Bill Clinton who ran the country that did (resulting in our current trade deficits). Clinton also repealed the Glass-Steagall law that deregulated the banks in 1999 (resulting in the housing bust and Great Recession). And good-ole Uncle Bill also lowered the capital gains tax rate in 1997 for the uber-rich (perpetuating the record high income and wealth inequality that we're experiencing today).
Since Bill Clinton granted permanent normal trade relations to China in 1998 and signed the NAFTA trade agreement in 1993, the labor force participation rate began its long decline (starting in April of 2000). And so, it's not a coincidence (or a great mystery as to why) that from the beginning of 2001 to the end of 2012 the U.S. has lost over 64,000 manufacturing firms — and millions of jobs — to offshoring. (And Obama isn't off the hook either, advocating for new trade deals that could hurt us even more, such as the TPP trade agreement).
Now American voters are poised to elect Bill Clinton's wife as our next President in 2016 to carry on the Clinton dynasty — and putting Bill back in the White House again. But of course, Hillary's backers have already said that she is NOT AT ALL like her husband. Oh really?
Tuesday, September 23, 2014
* Editor's Note: Below in this post are some highlights I excerpted (with some bullet points and notes) from a recent 54-page report by the Heldrich Center for Workforce Development at Rutgers University in a study they did about long-term unemployment since the onset of the Great Recession. It appears that economic conditions for a broad swath of Americans are much worse than the media, economists and government officials have been reporting — most likely in their attempts to lift "consumer confidence" during a weak economic recovery — maybe to help generate more consumer spending and economic activity — to create more consumer demand in an economy fraught with "secular stagnation".
Thursday, September 18, 2014
Despite the arguments being made over the past 5 years, that older workers make up a great part of the decline in the labor force (which has been in a long decline since 2000), this post shows that it's mostly prime-age workers and "non-starters" (those attempting to enter the work force for the very first time) that make up the greatest part of "discouraged workers" and others who are "not in the labor force" — and that it's mostly because of a lack of jobs, and nothing more.
Monday, September 15, 2014
We're damned if we do and damned if we don't (work). Lets start with the Heritage:
Sunday, September 7, 2014
For almost every month from September 2009 to April 2010, the U.S. has had over 15 million people counted as "unemployed". Today the government reports only 9.6 million (and says the economy is in a slow recovery) — but that doesn't include another 6.3 million unemployed working-aged Americans who are no longer counted as "unemployed", but also want a job — because they stopped looking for work and are no longer considered a part of the labor force — and so, are not counted among the unemployed.
Add those 6.3 million people and there are still 15.9 million people in the U.S. who are out of work — more than was ever previously reported in 2009/2010 as unemployed. The CES survey that's conducted by the Bureau of Labor Statistics has been incrementally sweeping “discouraged workers” under the carpet every month (for years) — and have relegated these unfortunate souls to the “not in the labor force” heap.)
Saturday, September 6, 2014
* Editor's Note: The first 3 articles below discusses the unemployment rate and our lack of job creation, because it's related to the declining labor force. And the 4th article refers to the participation rate, which is followed up by some quotes I extracted from a new Fed study (along with my notes) on the Labor Force Participation Rate (LFPR).
Wednesday, August 27, 2014
Below are some excerpts from an excellent article at the Counsel for Foreign Affairs titled "Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People" (It is followed by a few comments).