The eagerly awaited ADP jobs report for June posted this morning, showing some very interesting trends when the data’s dissected.
The unemployment rate remained unchanged at 7.6%, economists expecting 7.5. And while the number might not look bad by itself, according to Analytics on-line via Drudge: “In June, the household survey reported that part-time jobs soared by 360,000 to 28,059,000 - an all time record high. Full time jobs? Down 240,000. And looking back at the entire year, so far in 2013, just 130K Full-Time Jobs have been added, offset by a whopping 557K Part-Time jobs.”
Additionally, cnbc.com noted that, discouraged and underemployed rose from 13.8 percent to 14.3 percent while the bulk of jobs gained, -75,000- came in the hospitality industry of bartending and waiters.
So, what the statistics indicate is that most businesses are carefully restructuring their employment practices to prepare for the upcoming cost increases caused by the incumbent’s crippling new health care taxes. And my guess is, layoffs of full-time workers will continue as businesses seek to further streamline payroll and automate systems to replace employees no longer affordable.
Consequently, we now have some more documented evidence of how attempting to enact socialistic practices does nothing more than force successful, resourceful people to create new ways to conserve and protect the enterprises they’ve built and developed. And whereas, the present enemies of private business endeavors are government workers, if the administration’s not careful, sooner or later it won’t have a dime left in its coffers.
Further confirmation of what the half of the population that still wants to grow a free and successful nation can accomplish appeared in data about domestic oil production. According to Forbes on-line, Karl Smith, economics professor at the University of North Carolina at Chapel Hill, said “Yes, Virginia, U.S. oil production can influence world oil prices.” noting the first evidence that the jump in U.S. production from shale deposits in the last few years is having an effect on global prices.
The professor went on that, “A surge in U.S. production of premium crude oil from shale deposits in the Midwest is helping to hold down world oil prices and has prevented a spike in U.S. gasoline prices this summer. The decline in pump prices since February closely tracks the decline in London’s Brent crude price, which has become the worldwide benchmark for premium crude and directly impacts the price of gasoline.”
Furthermore, “U.S. production is beginning to set the world price and the price that consumers pay. That has made the U.S. “in economists’ terms, the marginal producer,” displacing Saudi Arabia, for the time being, as the producer with the most influence on prices.”
Now here’s the sad part, because this article was written just before the revolt in Egypt. However, at that time Mr. Smith expected the price to fall even more in coming weeks, and that “This will save consumers money at the pump and provide a boost to the economy.”
But, alas, for right now, that won’t happen whereas speculators are driving the barrel price up on fears of closure of the Suez Canal.
So, here we have two glaring examples of what a travesty the incumbent has wrought with antiquated, anti-capitalistic goals and objectives. But nonetheless, even while working diligently to stem economic growth via legislation, regulation and excessive taxation, he hasn’t been able to kill the American spirit. Because, rather than simply giving in, businessfolks are adapting instead, creating new ways to circumvent whatever obstacles he tries to curtail them with.
And since this is the 4th of July weekend, my last thought for the day is trying to imagine what marvelous shape the nation would be in if folks were left alone to prosper freely like the Founding Fathers intended. Because if we’re still doing as well as we are with an administration that’s a continual roadblock...in our own ways we’re each reflecting the nation's original purpose, imagination and spirit.
That’s it for today folks.
Adios
No comments:
Post a Comment