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Tom Blumer

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October 25, 2013 - 12:05 am
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The September employment report released on Tuesday was bad enough to make one wonder if the Obama administration knew what was in it on September 30, when the 17 percent government shutdown began, and decided to hold it.

The report’s original release date, based on the results of data gathered during the payroll week containing the 12th of the month, was supposed to be just two days later. It is thus reasonable to believe that the government’s Bureau of Labor Statistics already knew what the key numbers were and was only adding finishing touches.

We’ll never know whether Team Obama would have told BLS to release the report if the topline jobs added number had been a good one, because it wasn’t.

September’s report shows that the economy was already slowing down considerably before the partial shutdown commenced. Employers added only 148,000 jobs in September, down from 193,000 in August. The BLS’s Household Survey showed only 133,000 jobs added. Sure, the unemployment rate dropped to a seasonally adjusted 7.2 percent, but that’s only because a paltry 73,000 adults joined the workforce following a decline of over 300,000 in August.

September’s private-sector job growth was only 126,000, down from 161,000 in August. During the third quarter, monthly private job growth averaged only 129,000, down substantially from averages of 190,000 in the second quarter and 212,000 in the first.

The painful trends we’ve been seeing for months on end in the Obama-Bernanke multi-year Keynesian calamity continued in September. Both the workforce participation rate, at 63.2 percent, and the employment-population ratio, at 58.6 percent, remain at multi-decade lows.

Temporary help services added another 20,200 jobs on top of an upwardly revised 21,200 in August. Since January 2009, the month Barack Obama took office, the economy has added 2.659 million seasonally adjusted jobs. And 785,000, or 30 percent of them, have gone to temps, a segment comprising barely two percent of the workforce.

So desperate was the press to find something positive to say about Tuesday’s report that they tried to claim that changes in full-time and part-time employment during the month “prove” that Obamacare, particularly its 30 hours per week definition of a full-time employee requiring coverage in employers’ existing healthcare plans, isn’t causing a permanent shift in the balance between the two.

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Top Rated Comments   
Big government slows the economy, helps the wealthy, and destroys the middle class. So, what's the surprise?

If I had an agenda to weaken, and make America more Marxist friendly, I would send manufacturing jobs overseas, destroy the military filling it with homosexuals, obscene ROE, and lower the PFT's so women can make it into combat arms, flood America with Illegal alien, and Muslim Marxists, increase taxes, cause Moloch worship to flourish, and increase the national debt.

49% of Americans are now on the government sugar tit. The rugged individualism that made America great, along with small government is at an end. How much longer does America have before it is full blown Communist?
25 weeks ago
25 weeks ago Link To Comment
All Comments   (32)
All Comments   (32)
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my buddy's half-sister makes $68/hr on the computer. She has been without a job for seven months but last month her payment was $14888 just working on the computer for a few hours. visite site.....WWW.Rush64.Com
25 weeks ago
25 weeks ago Link To Comment
"cooked polls which supposedly say Republicans and especially tea party conservatives are to blame".
Unfortunately I don't think the polls are cooked. I think many people really do believe the dem/MSM lie that the repub house and the tea party is totally to blame for the shutdown. In reality the house withdrew their defunding demand, and offered a 1 yr delay compromise, which if accepted could have prevented the shutdown. Since many centrist dems today are pushing for the very 1 yr delay they shutdown the gov to kill before, that proves it was hardly the hostage taking terrorist proposal it was falsely portrayed to be. We need to push back against that lie and tell the truth. It is especially bad that several anti tea party repubs actually endorse the lie.
25 weeks ago
25 weeks ago Link To Comment
The important points this good article mentions are the deeper structural problems in the economy. Like the long term relationship between full and part time workers, the lack of real growth and loss of jobs overall, participation in the workforce declines and what that in particular means - the need for less labor as things stand now and have stood for a while.

One of the earliest waves of decline in workforce participation - loss of jobs - were the waves of outsourcing starting in the early 1980's.

Without doubting even for a second the damage of Obama and Obamacare to us and the economy, and without for a second doubting the extraordinary economic growth under Reagan, still even Reagan was unable to increase rates of capital formation to fuel business expansion and what ought to be an insatiable appetite for labor.

Conservatives ought to care about this, and we all know Democrats want to tank what they believe is an evil economy. Milton Friedman once said "We are all Keynesians now".

Maybe we are all anti-growth now.
25 weeks ago
25 weeks ago Link To Comment
"... the economy... is a bit less than 5 percent larger than it was in the fourth quarter of 2007..."

A five percent growth over six years is a 1% decline when adjusted for our population increase of 6% from 2007 to present.

I believe that all economic trend data should be adjusted for inflation and population changes. Without those factors, the results almost always will be biased.
25 weeks ago
25 weeks ago Link To Comment
Thanks for the perceptive comment.

Real Per-capita GDP is barely above where it was six years ago. The point I was making is that if the economy is 5% larger in real terms, almost 5% more people should be working (it would hopefully be less than 5% because you hope there's some increases in productivity).

Instead the household survey has almost 2.3 million fewer people working (about 1.6%).The weighting towards part-timers means that there's an even larger shortfall in full-time equivalents.
25 weeks ago
25 weeks ago Link To Comment
but we also have an aging population and that must be adjusted for as well.
25 weeks ago
25 weeks ago Link To Comment
Everything you need to know about the economy in one simple chart from the St Louis Fed

Chart shows Full-Time employees as a percent of the population. Its truly frightening. Read'em and weep.
Link below:
http://research.stlouisfed.org/fred2/graph/?g=nKb
25 weeks ago
25 weeks ago Link To Comment
Great chart! Note the huge drop in 2008 coupled with the very hesitant recovery. Both are much worse than in previous years. But dopes at every level have bought into the religion of liberalism. The lesson that "Pope" Obama teaches us is that the public prefers sweet sounding lies over cold truths. We need a new breed of conservative politician that can promise love, peace, and social justice while delivering economic sanity. Reason alone won't work!
25 weeks ago
25 weeks ago Link To Comment
Scary.
25 weeks ago
25 weeks ago Link To Comment
Wow.
25 weeks ago
25 weeks ago Link To Comment
"Seasonal adjustment" is how a statistician demonstrates that the north and south poles never get cold enough for ice.
25 weeks ago
25 weeks ago Link To Comment
If you want fair, objective reporting in the news you watch...No wait that's not true. Let me start again...If you want the media to tell you what the government is doing and the real state of affairs...no wait they won't tell the truth about that either...If you want half of the truth about what is going on in politics then elect a Republican President. You'll get 60% lies and distortions from the media but you'll at least have a clearer picture of what is really going on.
Remember we were in a recession under George Bush when unemployment was 5% and our annual growth was 4 and 1/2%, and that was a recession according to democrats and the media.
Now we have 1 and 1/2% growth and 7.3% unemployment and we are in a recovery. And every thing is right as rain according to the democrats and the media.
25 weeks ago
25 weeks ago Link To Comment
Yahbut any month with a "QE" in it was a month with a pitifully weak economy.
25 weeks ago
25 weeks ago Link To Comment
Many, many people are really, really hurting but the media is in almost full-blackout mode about it . How to get them to cover it, hmmmm ...?
25 weeks ago
25 weeks ago Link To Comment
Elect a Republican President. Works every time.
25 weeks ago
25 weeks ago Link To Comment
Howdy SongDog
We DID elect a Republican president to deal with a Dem recession. We did it twice, in 1980 and in 2000. And the Dem-media acted like 5% unemployment was Depression-level stuff. Now they act like 7.2% (of a much smaller participation percentage) is full employment.
25 weeks ago
25 weeks ago Link To Comment
When you turn America into France, Obama's goal, a sh*t sandwich looks like Veal Cordon Bleu.
25 weeks ago
25 weeks ago Link To Comment
the economy is still slowing down, amazing as most people would have thought it hit rock bottom and couldn't get any worse.

But then the unpatriotic, irresponsible failure is still in office, and the debt is rising, and the taxes are rising, and the people that think debt is so good are going into hiding when they are asked to pay their fair share of the debt.
25 weeks ago
25 weeks ago Link To Comment
The damage done to us by the economy slowing down is obvious and real. And it is also true that the economic performance prior to this economy - even before Bush's last year - hadn't been good however better it was.

If the economy grows at a 1% rate because of a drop of 3% the prior rate was 4%. Had the rate been 11% with the drop of 3% we would still be at 8% growth.

Why no one wants to look at the years from 1953 to 1958 when monthly GDP growth was between 12% and 16% I do not know.
25 weeks ago
25 weeks ago Link To Comment
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