web analytics

it’s a recovery, or Do you want to buy a Bridge ?

By Patrick Van Roy On July 6th, 2013

Yes this regime and the Congress before it that destroyed the economy has produced such exceptional results. Ya just gotta love how prosperity looks at the hand of Democrats and Obama.

obama-hope-feathersOf the 144 million Americans employed last month, only 116 million were working full-time. Friday’s report showed that 58.7% of the civilian adult population of 245 million was working last month. Only 47% of Americans, however, had a full-time job.

The market’s positive reaction to Friday’s report is another sign of how far our economic expectations have fallen. If today the same proportion of Americans worked as just a decade ago, there would by almost nine million more people working. Just in the last year, almost two million Americans have left the labor force. With a majority of the population not holding a full-time job, it isn’t surprising that economic growth has been so weak.

In June, the number of Americans who wanted to work full-time, but were forced into part-time jobs because of the economy, jumped 352,000 to over eight million.

The Jobs’ Report is increasingly measuring only a part of the American economy. While Friday’s report was better than expected, it only measures those who are working or actively looking for work. There is a growing number of Americans slipping through the cracks of the job market.

 

25 Responses to “it’s a recovery, or Do you want to buy a Bridge ?”

  1. Well said Troll. And real wages continue to fall for the vast majority outside the 1% elite. And Wall Street is addicted to 1% interest rates and the $85 billion that the Fed is printing every month, just like a an addict is addicted to dope.

  2. Troll

    All or much of this was written by someone else, prob some Republican spin doctor site. Which one?

    There is major deceptive, spin in the first paragraph. Anyone catch it?

  3. Yes, it excludes the retired and children, teenagers and students.

    But the main point is that real wages are falling and have been falling for over 30 years for the vast majority of Americans. This has been nailed by Robert Reich in his documentary Inequality for All

  4. Ah it’s not hard to find you go to Drudge and read the headlines look for 47% of adults have a full time job.

    The shaded area is from the link. and it links to a story on Breutbart.

    You can it spin all you want, but as the article links to The Governments own Bureau of Labor Report on the numbers you might want to actually do some research.

    Facts are facts Phantom, yes you are doing great, but we are in a depression. I know you can’t grasp that. That doesn’t make it any less true.

    Real unemployment has been over 12% for 3 years. Yes the Congress under Bush started this mess, but Both the Congress and the President have thrown gasoline on the fire.

    There has never ever been a greater period of forclosure, and jobloss than the last 5 years. It’s not changing any time soon..

    http://www.bls.gov/news.release/empsit.a.htm there’s the link to the government rpt.

    like I said the link to the article can be found on Drudge.

  5. It also excludes the two million adults who are in prison. What good are stats like this?

    A huge part of the current unemployment is now structural.

    There are two main engines of moden western unemployment – outsourcing and automation. They may make for efficiencies, and lower prices, but you need fewer workers now to do most things, and its almost always cheaper to make things in China

    I have never heard these issues brought up by the Obama bashers here.

    Its easier, and cheaper to just bash Obama every minute.

  6. Troll

    How about doing one minute of research, for once?

    http://www.npr.org/2013/05/09/182516881/business-news

    http://www.bizjournals.com/phoenix/news/2013/05/29/phoenix-home-foreclosure-rate-down.html

  7. so according to the opening line 101% of every one employed is employed full time, thats a very good average

  8. the first link I won’t even look at, NPR really? and you say my sources are biased. As for the second link oh golly gee the forclosure rate has decreased from last years number it has in most places.

    Considering that the majority of the foreclosures took place 3-5 years ago yes the number of continued foreclosures has dropped and will continue to.

    Now show me the number it will take to equal the home ownership rate of ten years ago, and I’ll show you a number greater than the depression of the 30s.

    The American economy is based on 3 things the cost of food, the rate of new home construction and the price of oil.

    2 of those and the entire rest of the economy are controlled by number 3 in that list.

    Oil is the blood that keeps are economy going PERIOD. It is the only factor that matters in the equation. With the current administrations stranglehold on oil production, coupled with the over spending of congress the economy will stay negative growth for the next 3+ years.

    Yes we are producing more oil now than ever on Private Lands. We have not kept up with the increase in demand nor is it at a cost efficient level to allow epansion of business.

    There are over 20 million people not working who were working 5 years ago and another 20 million that have jobs at half of what they were making 5 years ago.

    You live in a state of denial. Last month 150,000 jobs were created, but 300,000 were lost. We are not producing jobs at a rate that equals the natural growth, let alon even scratching what is needed to be produced to start a recovery.

    Tell me where has the economy surpassed the numbers in growth bringing it over the number it has lost over the past 5 years? What sector. Print the numbers.

  9. Oh please

  10. well thought out response. You were on the debate team weren’t you?

    If your going to take the position that we are in a period of growth take the position with a defensible argument.

    Surely you could find one sector of the economy that is doing better than it was 5 years ago, no?

  11. US / N American auto production is at a 15 year high. Auto jobs ot much up, for reasons that I have addressed.

    Air travel industry much more profitable

    Railroad industry – Class I revenues utperform

    Boeing and aviation industry numbers way up over 5 years ago

    Housing starts up considerably over 4 years ( when Obama came in ) and up over 5 years ( the market completely crashed in Bush’s last year )

    Nonresidential construction up

    US oil / gas production nicely up, as are oilfield services

    Banking industry doing much better

    You don’t know one thing about the economy. You are a Republican Party shill.

    Stop writing and start reading. Cutting and pasting from skimmed sites that confirm preexisting positions does not constitute reading.

  12. you can say all those things are up yet you refuse to back it up with facts, hard numbers.

    Oil production is up, but has not kept up with demand. The Air Travel Industry has been decimated, I witnessed that first hand.

    Rail I know nothing about, Housing your just wrong on. Yes it did crash in bush’s last year I’m not assigning blame but if your want blame the two names you lay that on are Franks and Dodd with help from Aunt Esther.

    You got a lot of balls calling me a shill. Saying I don’t know a thing about the economy, your an expensive pencil pusher that flies around the world interacting only with people that have money.

    You should be proud of your success, but you know nothing about the blue collar or those that make under 100,000 a year.

    There isn’t an economist out there that isn’t saying at the current rate of growth it will take 10yrs to get back to where we were in 09.

    You live in a bubble Tom, not just one of NY political beliefs but one that doesn’t allow you to honestly see the struggle of your fellow man. 20 Million people are unemployed, another 20 million are underemployed. The only reason the unemployment number decreases is because people have been unemployed so long they no longer can collect and they are no longer counted.

    When was the last time you were in that position? We don’t have soup lines today because we have welfare, disability and 70 MILLION people on food stamps.

    Think about that 70 Million people that can’t feed their families without help from the government, and to you everything is just fine.

    You know that after the last election I resigned as a committeeman, I quit all my obligations to the Republican Party and changed my registration to Independent.

    I volunteer at the local food pantry, do you? I went from a six figure income to nothing because of what this economy did to the Airline business, and I am working my way out. I might be seeing just a wee bit more than you. I’m on the ground, your not.

    I’m also not ashamed or embarrassed to admit when I’m wrong, you are. If you honestly believe everything is up everything is booming, I feel sorry for those that your advising because your oars don’t hit the water.

  13. oh and for the Auto industry it’s a government subsidized mess making cars that Americans are paying with their tax money to make, but that they can’t afford to buy thats why the growth area is China, not the US

  14. I did not say that the economy is great. It is not.

    You asked about growth – there is growth, albeit a largely unsatisfying, jobless growth.

    The airline cost cutting and cutthroat competition is not new. There have been many cutbacks, mergers, bankruptcies over the past 20 years and more. It stinks, but it is not new. Airline passengers carried are up as compared with five years ago, and profits of the big carriers ( United, American, Delta ) are up and are going higher.
    Which does not mean that it is fun to work at an airline or to fly on one.

  15. http://www.latimes.com/business/autos/la-fi-hy-auto-job-gains-trail-20130611,0,6359358.story

    US auto production at 15 year high

    It sucks that you lost your air industry job, but that had nothing to do with ” the overall economy ” . It had everything to do with merciless cost cutting in the face of competition from Southwest and other airlines.

    Aviation has been a very tough industry since deregulation. Very few good years, regardless of what the larger economy does. See Pan Am, Eastern, Kiwi, Eastern, National, TWA, People Express, etc.

  16. Great escape at SF airport this morning. Just goes to show how important those safety drills at take-off are when things get nasty.
    Strange that a Far-East airline seems to have made the mistake. They are usually second to none in standards.

  17. Actually this was a Korean airline and Korean airlines ( Korean Air Lines, and others ) have a reputation for carelessness. They have had a number of bad incidents over the past 20 years.

  18. This sure looks like pilot error.

    Even the Asiana mgmt are not spinning it otherwise.

    There have been other incidents where Korean airliners crashed due to incorrect approach to the air strip.

    This could. Have been so much worse.

  19. I thought Asiana and all other far-eastern airlines had a great reputation in terms of safety and service.

    Still, while sad about the two Chinese women, it’s a tribute to the training of staff on board and on the ground that almost all escaped when the fuselage caught fire on landing.

  20. http://en.wikipedia.org/wiki/Korean_Air_incidents_and_accidents

    There had been talk of throwing KAL out of its alliances, their record is that bad

    Japan Air, ANA , Singapore Air are Very good. The Koreans are bad, careless. May be due to cultural issues

    http://blogs.wsj.com/middleseat/2008/12/04/malcolm-gladwell-on-culture-cockpit-communication-and-plane-crashes/

  21. The Pilot hit the Sea Wall in SFO.

    The Airline industry is not doing well, the Airlines that are left are showing a semi profit only due to freight. and yes they were a disaster before 9/11. What that did for the industry is allow it to break it’s Unions. People who were making an average $40hr and had Cadillac health plans that they didn’t contribute to. Now it’s an average of $14hr and a weeks pay a month to carry the old healthcare which most aren’t even offering anymore. Competition has always been ruthless in this industry, but it’s not the underlying damaging cost. There are 3 Maintenance, Labor, and Fuel.

    The cost of Fuel being the most destructive now that the unions have been busted.

    The Auto industry is at a 15yr high, but the American big 3 aren’t making those numbers in the US and the Average American Family can no longer afford a Caddy or a Continental. The US car industry only makes cars as collateral for the Loans. GMAC is a bank not a car company. They sell Loans the cars are collateral to try and pay their Union debt. They can’t even begin to pay back what they owe the tax payer.

    As for you not saying the economy is fine BULL. When you put up 4 or 5 industries saying that they’re all in the black and doing good, that’s exactly what your saying.

    Dance angels on the heads of pins with others Phantom, but don’t try it here.

  22. growth of the GDP has been less than 3% for over 3 years. That’s Stagnation.

  23. Phantom
    I’m not stomping on you. I just feel your painting a rosier picture than it deserves.

    As for the Blame I place it on both Republican and Democrat members of Congress. They are both responsible for choking growth. Presidents only Lead. They get the credit or the blame, but it’s the House and the Senate that either allows industry to flourish or chokes it with regulation, and over taxation.

    There are more things you and agree on than disagree on, but on the things we disagree I don’t think we will ever meet in the middle about them.

    Off to work, everyone enjoy the day It’s 90degrees Fahrenheit, and only about 80% humidity here… pure heaven.

  24. real quick I won’t post this as a song but I head it on a TV show that I’ve been watching. Kinda different I enjoyed it, don’t know how many of you would.

    http://www.youtube.com/watch?v=kpNQ743OZgQ

  25. Phantom did you read my follow up?