The commonality of today’s entry’s is “numbers.” Most of them bad for those involved, and all of them subject to considerable interpretation, depending on your opinion of those in question.
To start, Ali Meyer @cnsnews.com wrote about the Bureau off Labor Statistics employment data released today.
While the Obama administration has changed the statistic used as the indicator for US employment, by omitting those out of the current workforce for any reason, other formulae reflect an extremely dismal labor picture.
Ms Meyer reports that, “The 157,037,000 who participated in the labor force equaled only 62.6 percent of the 250,663,000 civilian noninstitutional population, the lowest labor force participation rate seen in 38 years. It hasn’t been this low since October 1977 when the participation rate was 62.4 percent.” And Jimmy Carter was president.
In that regard, yesterday Rush reflected on the position taken by David Stockman, former budget director for Ronald Reagan, who uses a much broader based and entirely logical type of calculation to prove his premise that the real unemployment rate is 42.9%.
Mr. Stockman’s theory, as delivered by Rush, says, “At the present time, there are 210 million adult Americans between the ages of 16 and 68..." That is the workforce. Sixteen to 68 is the age boundaries where you find the potential American workforce. Between 16 and 68, there are 210 million Americans, and 93 million -- 40% -- of them, are not working. Now, that's probably a much better way of expressing employment, unemployment, and the real strength, performance, or lack of, of the US economy.”
Furthermore, "By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates," actual government numbers. So the workforce is defined as ages 16 to 68, a total of 420 billion potential labor hours, which equals great productivity if that happens. Last year, only 240 billion hours were actually supplied to the US economy, just a little over half what's possible. "Technically, therefore, there were 180 billion unemployed labor hours," and that is how Stockman arrived at "the real unemployment rate was 42.9%..."
Christopher S. Rugaber AP Economics Writer @hosted.ap.org added the background information that, “The unemployment rate fell from 5.5 percent in May, the Labor Department said Thursday. But the rate fell mostly because many people out of work gave up on their job searches and were no longer counted as unemployed.
“In addition, the percentage of Americans working or looking for work fell to a 38-year low, a possible sign of more discouraged job seekers. And employers added 60,000 fewer jobs in April and May combined than the government had previously estimated.”
Therefore, despite the administration’s fudging and finagling statistical formulations, sooner or later unemployment support will run out as eligibility limits are reached. And it’s then that all those currently being supported by government will need earned income to survive. Which in turn, will make the political party focused on building the economy the choice for the overwhelming majority. And that certainly has never been the forte of Democrats.
Another issue in the news yesterday featured two bozo’s not really worth writing about, but the situation is still pretty amusing.,
Several news agencies reported that, New York City Mayor Bill de Blasio said on Wednesday that his administration is reviewing the city's business relationships with billionaire developer Donald Trump, who is facing a backlash for his presidential campaign comments about rapists and drug dealers among Mexican immigrants.
Mr. de Blasio, is out of town on holiday, but said in a statement."We are reviewing Trump contracts with the city. Donald Trump's remarks were disgusting and offensive, and this hateful language has no place in our city."
What’s interesting about this one is that, not only is the deluge of unbridled, potentially problematical, illegal immigrants true, the influx has been mentioned here for more than two years now. Which means that for these two clowns, if this is something they’ve just noticed now, they’re both totally unaware of events going on around them. Therefore it’s no wonder that one of them has bankrupted so many businesses, while the other one’s buried in a job that’s miles and miles above his capabilities.
Which brings us to today’s update on Bill Clinton’s wife.
Kenneth P. Vogel @politico.com writes that, “A trio of pro-Hillary Clinton groups raised more than $20 million in the first half of the year, including at least $1 million from billionaire financier George Soros, POLITICO has learned.”
Mr. Vogel goes on to note that, “Clinton is a fundraiser par excellence, and her ability to raise money for her own campaign was never in doubt.” However, “The fundraising ability of the pro-Clinton super PACs was less clear.”
And that hesitation on the part of super PAC’s is worth considerable thought because, “Clinton’s allies early this year had privately fretted that supportive super PACs were struggling to raise money amid internecine squabbling and reluctance from some of the Democratic Party’s wealthiest backers.”
So, it seems that concerns about Bill’s Clinton’s wife’s presidential candidacy exist at all levels, including that of the Democrat party’s ordinarily most supportive members. Which leads to the ongoing question: Mayor Bloomberg, are you reading this?
That’s it for today folks.
Adios
No comments:
Post a Comment