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Joe Guzzardi Why Obama shouldn’t start crowing over jobless numbers

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Joe Guzzardi

Posted: Saturday, February 25, 2012 12:00 am | Updated: 6:31 am, Sat Feb 25, 2012.

The economic website www.zerohedge.com has a running not-so-funny joke. The laugh (on us) is that President Obama will be able to get the unemployment rate down to 0 percent by November if the Bureau of Labor Statistics keeps ignoring those who drop out of the work force each month.

A serious look behind the January jobs data is troubling. At first glance, everything is roses. The 243,000 jobs "created" exceeded all economic predictions. The most optimistic Wall Street analysis estimated that 120,000 jobs would be added. Accordingly, the unemployment rate fell to 8.3 percent — a bigger decline than anticipated.

But in January, even though the unemployment rate dropped from December's 8.9 percent, 1.2 million people stopped looking for a job; the aggregate of those not in the labor force surged from 86.7 million to 87.9 million. Translated, this means that the civilian labor force fell to 63.7 percent, a 30-year high. For the Obama administration to arrive at the coveted 0 percent, the BLS would have to continue to "crush" (as Zero Hedge describes it) the labor participation number to 55 percent, something the agency seems determined to do. Not including the unfortunate 1.2 million who abandoned the job search among the unemployed is like you not including your mortgage payment in your debt obligations.

There's also the significant matter of what types of jobs were "created" in January. Growth in low-paying positions like hospitality and retail, where wages average between $9 and $15 an hour, far outpaced higher-paying jobs for which the national average is nearly $23. Neither type is likely to contribute to family medical coverage.

Not only has new job creation not kept up with population growth over the last several months, but the U.S. population has been inflated by the federal government's policy of inviting about 1 million legal immigrants annually and issuing work permits to them. Today, there are several competing bills on Capitol Hill that would significantly increase the numbers of non-immigrant workers who arrive on H-1B visas or, worse yet, eliminate the existing cap.

A mere two weeks after the Department of Labor issued its rigged statistics, a new Gallup survey more accurately pegged the U.S. unemployment rate in mid-February at 9 percent. The Gallup mid-month rate normally reflects what the government will officially report on the first Friday of each following month.

The survey also found that underemployment, the so called U-6 rate that includes unemployed and those working part-time because no full-time jobs are available, rose to 19 percent, an increase from January's 18.7 level.

In what could be interpreted as a slap at the Obama administration's economic duplicity, Gallup summarized: "Regardless of what the government reports, Gallup's unemployment and underemployment measures show a sharp deterioration in job market conditions since mid-January."

Adding to the painfully high unemployment rates, commodity prices — especially fuel — have increased dramatically, which puts further downward pressure on the economy.

The Gallup report's only inconsistency is its prediction that it's "premature" to speculate that the economy would not be a factor in the November election. That's wrong. The economy and Obama's mismanagement of it are the first, second and third topics on the Republican candidates' talking points.

Joe Guzzardi retired from the Lodi Unified School District in 2008. He lives in Pittsburgh, Pa. Contact him at guzzjoe@yahoo.com.

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Welcome to the discussion.

14 comments:

  • Darrell Baumbach posted at 5:28 pm on Wed, Feb 29, 2012.

    Darrell Baumbach Posts: 9405

    Since Obama walks on water, I think he was the one who invented books Brian.

     
  • Brian Dockter posted at 7:52 am on Wed, Feb 29, 2012.

    Brian Dockter Posts: 2821

    Obama wrote the book on class warfare, Ms. Bobin. And of course no one can question him because they will be called racist.

     
  • Brian Dockter posted at 7:46 am on Wed, Feb 29, 2012.

    Brian Dockter Posts: 2821


    Ms. Bobin wrote:

    And Mr. Baumbach wants to complain about the "47%" of individuals who pay no income tax! Of course, it is hard to pay income tax when you have no income, but much harder to explain why you paid no tax when you make billions.

    -It's virtually impossible for those who make millions or billions to pay no taxes. And except for sales tax, those living on the dole don't have any obligation at all to pay taxes. Most of the people that pay little or no taxes come from the middle class. The very rich still pay the most taxes and are taxed at the highest rate. Obama understands when he taxes the rich more there is less money to trickle down. Hence he has to create more entitlement programs designed to be safety nets. He is and will always be an avocate for big government.

     
  • Brian Dockter posted at 7:02 am on Wed, Feb 29, 2012.

    Brian Dockter Posts: 2821

    Ms. Bobin wrote:

    As the lunacy of the Republican bunch who want to run for president increases, so does the approval rating of the president.

    -The grim reality for the liberal media is slowly coming to pass. It is becoming increasingly obvious for them a Republican will once again be President. And so they have no choice but to construct a narritive Ms. Bobin speaks of. This is desperate times for the liberal media.

     
  • Joanne Bobin posted at 10:18 am on Tue, Feb 28, 2012.

    Joanne Bobin Posts: 4488

    Mr. Liebich - if Ron Paul didn't have a few really kooky ideas about certain policies, I'd probably vote for him. Saw his interview with Piers Morgan the other night and I must say he is consistent in his beliefs.

    Now - someone told me that they "heard" that Paul is now backing Romney against Santorum in the debates in exchange for Romney picking Rand Paul for VP. Any truth to that?

     
  • Joanne Bobin posted at 10:13 am on Tue, Feb 28, 2012.

    Joanne Bobin Posts: 4488

    Well, I guess if someone has to die from working with toxic chemicals and dangerous work environments due to no regulation, its best that they are foreigners.

    I see Apple recently had a very embarassing incident when someone filmed in one of their Chinese factories, especially when they had previously claimed they had very high standards for workers well-being. They had some 'splainin to do!

    From 2004:

    "Bush Policies Drive Surge in Corporate Tax Freeloading
    82 Big U.S. Corporations Paid No Tax in One or More Bush Years"
    http://www.ctj.org/corpfed04pr.pdf

    And Mr. Baumbach wants to complain about the "47%" of individuals who pay no income tax! Of course, it is hard to pay income tax when you have no income, but much harder to explain why you paid no tax when you make billions.

     
  • Andrew Liebich posted at 8:48 am on Tue, Feb 28, 2012.

    Andrew Liebich Posts: 2999

    Meanwhile Ms. Bobin, Darrell, and the mainstream media continue to ignore the fact that Ron Paul is currently in 2nd place...

     
  • Darrell Baumbach posted at 3:53 pm on Mon, Feb 27, 2012.

    Darrell Baumbach Posts: 9405

    In post below...

    encorage= encourage
    aviding= avoiding

     
  • Darrell Baumbach posted at 3:52 pm on Mon, Feb 27, 2012.

    Darrell Baumbach Posts: 9405

    Even Obama is well aware of how corporations do business encorage American jobs and business to stay over seas... Obama could care less about Americans having jobs in America... as evidence...

    Obama's tax policy, which allows companies to hold off on paying American taxes until they bring those funds into the U.S...they keep their profits in foreign banks thus aviding paying taxes: General Electric, for example, has $62 billion in profits sitting in offshore bank accounts.. and everyone knows that GE and Obama have a very very close relationship. (wink wink)... some would say they are in bed together...

     
  • Darrell Baumbach posted at 3:45 pm on Mon, Feb 27, 2012.

    Darrell Baumbach Posts: 9405

    The U.S. corporate tax rate is among the world's highest, with a federal rate of 35% and state rates that can tack on up to 12% more. By comparison, China charges 25% and Korea's starts at 13%.

     
  • Darrell Baumbach posted at 3:40 pm on Mon, Feb 27, 2012.

    Darrell Baumbach Posts: 9405

    Oh Ms Bobin ... 25% less salary... I think you are out of reality... I noticed Best Buy cannot fill orders for new hard drives now... why? It turns out that they have lower prices because they get their hard drives from Thailand, who had recent floods and factories in Bangkok flooded, closed down and no production... so not only are American corporations reducing salaries by 85%, they are not having to pay for mandated regulations and government mandates.
    In other words, entire workforces are overseas to flee from government regulations and mandates ( favored by the clueless democrats)... not to mention forced wages through the Bacon-Davis Union Act.

    Best Buy and just about every American company find it more easy to do business over seas rather than deal with the demands, insults, regulations, mandates and controlled media of the democrats and the unions of this country. Imagine, easier to do business in a communist country like China that a supposedly free country in America... something smells and it begins with a capital “D” for democrats

     
  • Joanne Bobin posted at 1:19 pm on Mon, Feb 27, 2012.

    Joanne Bobin Posts: 4488

    Corporate America, aka "the wealthy," or "job creators," whatever you want to call them, are pushing for legislation on increasing the cap on H-1B visas. The tech industries are crying because they need more foreign workers with high level degrees even though there is an abundance of US citizens with these degrees who cannot find work.

    Wonder why corporations want foreigners? They'll work for 25% less salary - plain and simple. Same reason corporations ship factory jobs overseas.

     
  • Joanne Bobin posted at 1:09 pm on Mon, Feb 27, 2012.

    Joanne Bobin Posts: 4488

    "he has an approval that is astonishing..."

    Other side of the coin...

    As the lunacy of the Republican bunch who want to run for president increases, so does the approval rating of the president.

    Newt's went too far by emphatically declaring himself the next president and then topped his arrogance with his plans for a moon colony...the Republican voters ran screaming in the opposite direction only to encounter Santorum who has no economic, jobs, or foreign policy plans and only focuses on his victimization as a Catholic. Then there's lonely Mitt who can't get the people in his home state to warm up to him even after he told them "the trees (in Michigan) are the right height."

     
  • Darrell Baumbach posted at 4:36 am on Sun, Feb 26, 2012.

    Darrell Baumbach Posts: 9405

    Joe just doesn't get it. Obama has everything to crow about and should be
    confident of another four years.

    From Obama's perspective, he has done just about as much destruction and takes credit for demolishing America as any one president could have. He ran as a Reagan conservative in 2008
    and people actually believed him. He then operated as a far left wing radical and expanded the size and control of the Federal government dramatically.

    All this, and he has an approval that is astonishing considering his radical nature and incompetence as a president. I do believe the democrats believe he walks on water and have a voter base that will vote for him because they expect money will flow their way if he is elected. After all, more than 47% of all people pay no Federal Income tax...

     

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