Well, the new jobs report is out, and many media pundits are claiming this is an Obama success: http://loudmouthelephant.blogspot.com/2013/03/the-february-2013-jobs-report.html
I don't see the report as a thing to leap about, but it does contain some positive news. Of course, that can fade if the numbers get revised next month.
But for me, here is the big topic of discussion: With all the doom and gloom painted by Team Obama regarding the sequester, how will this play out? If unemployment keeps falling, Obama looks like he severely over-exaggerated the sequester claims but is a "hero" for having the unemployment rate decline (this is subject to interpretation). If unemployment increases, Obama can claim he was right about the sequester, but is not the hero of decreasing unemployment.
Hmmmmm. The x-factor, of course, is the media. What do you think?
Monday, March 11, 2013
Friday, March 8, 2013
The February 2013 Jobs Report
Here is the February 2013 employment situation report from the BLS: http://www.bls.gov/news.release/pdf/empsit.pdf
Key Highlights:
- The unemployment rate dropped to a new, four-year low of 7.7%. Non-farm employers added 236,000 new jobs, beating analysts' predictions.
- The number of unemployed persons edged downward to 12 million in February.
- The civilian labor force participation rate dropped to 63.5% form 63.6% in January.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased by 296,000 from 89,008,000 in January to 89,304,000 in February.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) rose by 15,000 to 7,988,000.
- Average hourly earnings rose by 4 cents. The 12-month average for hourly earnings have risen at a 2.1% yearly rate.
Key Highlights:
- The unemployment rate dropped to a new, four-year low of 7.7%. Non-farm employers added 236,000 new jobs, beating analysts' predictions.
- The number of unemployed persons edged downward to 12 million in February.
- The civilian labor force participation rate dropped to 63.5% form 63.6% in January.
- The "not in labor force" count (those who have no job and have stopped looking for work) increased by 296,000 from 89,008,000 in January to 89,304,000 in February.
- The number of persons employed for part-time economic reasons (those that are considered part-time involuntary workers) rose by 15,000 to 7,988,000.
- Average hourly earnings rose by 4 cents. The 12-month average for hourly earnings have risen at a 2.1% yearly rate.
- The change in total non-farm payroll employment for December was revised upward from +196,000 to +219,000, and the change for January was revised downward from +157,000 to +119,000.
What's your take on these figures? To me, the number of new jobs added is a slight plus, but it is overridden by the decrease in the civilian population force (-130,000) and the not-in-labor-force number (+296,000). It appears, again, that many people simply gave up looking for work, and the new jobs created (when coupled with January for an average of 177,000) is barely enough to keep up with the growth in population. I'm sure the media will LOVE this report, but when you look at it, it's not all peaches.
What's your take on these figures? To me, the number of new jobs added is a slight plus, but it is overridden by the decrease in the civilian population force (-130,000) and the not-in-labor-force number (+296,000). It appears, again, that many people simply gave up looking for work, and the new jobs created (when coupled with January for an average of 177,000) is barely enough to keep up with the growth in population. I'm sure the media will LOVE this report, but when you look at it, it's not all peaches.
Monday, March 4, 2013
Weekly News Headline and Debate Topic Forum - 3/4/13
Well, congratulations! You survived the Sequester. Yippie!
Unfortunately for me, I haven't been around, and I even missed the Gang of 405 radio show on Saturday. I regret that because there was a TON to talk about.
But that's okay; I'm sure there is a lot to talk about this week. The Sequester fight has come and gone, but the effects haven't really kicked in. On top of that, we have the issue with Bob Woodward, and the continued press headlining of this mythical "shift" in republicans now accepting Obamacare. As always, this forum is open for any and all discussions.
Unfortunately for me, I haven't been around, and I even missed the Gang of 405 radio show on Saturday. I regret that because there was a TON to talk about.
But that's okay; I'm sure there is a lot to talk about this week. The Sequester fight has come and gone, but the effects haven't really kicked in. On top of that, we have the issue with Bob Woodward, and the continued press headlining of this mythical "shift" in republicans now accepting Obamacare. As always, this forum is open for any and all discussions.
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