obama along with a willing media, are daily calling out a list of things that will happen when a mere $85 billion worth of budget cuts takes place in 2013 due to the agreement he signed into law and was gleefully for back in November 2011.
Public sector unions appear to be determined to convince us all how useless and dangerous they have become. -PBN
You know how it is in politics, right? You win some, you lose some. If a vote doesn’t go your way, you’re disappointed, but you pick yourself up, dust yourself off and move on. You don’t cling to your anger like grim death because that’s pointless and only prolongs your bitterness.
Ha ha! Just kidding. Right-to-work may now be a settled issue in Michigan, but just because the unions lost and that’s that doesn’t mean that will be that. It must be understood: Cross the unions and you will pay a steep price, and you will never stop paying. Hence the chant: “No union, no peace.”By DAN CALABRESE – “No union, no peace.”
The only problem is that not a single Republican lawmaker took the bait and walked past the hissy-fitters, save for this one guy who didn’t look like anyone. He was only Dick Posthumus, the former Republican Senate Majority Leader, 2002 Republican nominee for governor and current top-level advisor to Gov. Rick Snyder. The union thugs didn’t recognize him. They also gathered at the wrong entrance to the Capitol Building, apparently not realizing that most lawmakers enter the back door because it’s adjacent to their parking lot. Ah well. Too bad because look at what they missed:
Before the noon start of today’s ceremonial session, members of We are Michigan, who organized the demonstration, plan to deliver fresh cookies to lawmakers who opposed right-to-work and “broken cookies for broken promises” to those who opposed it.
Demonstrators chanted, “No union, no peace,” and carried signs with message such as “RTW, Wrong for Michigan,” and placards with photos of Republican lawmakers with the word “Shame” stamped across their faces.
Broken cookies? What kind? Were they still fresh? Hey, they break in your mouth anyway.
I do like the whole “shame” thing. It’s almost as if the unions see themselves like that kid on the playground who gets picked on by a bigger kid, and then the playground monitor comes up and whoops the bully saying, “You should be ashamed of yourself! Look how much bigger you are than him!”
I really think, deep down, that’s how they see themselves. They really don’t think they can make it in life but for the benevolent advocacy of their unions, aided by pro-union legislation, and any action that tilts the playing field even slightly in favor of someone other than them is cause for shame because these salt-of-the-earth working people are helpless without these legal guarantees. It’s the same thinking that justifies their use of violence and just general hissy fits in response to anyone who opposes their agenda.
“What do you expect us to do? Function in the free market? You know we haven’t got it in us to succeed at that.”
They won’t admit that’s what they think of themselves. They bluster about how union-made products are so superior and everything else is cheap crap, etc. But they know it’s not true. Many of them would be fired in a minute if their union didn’t protect them, and that’s what they really fear when the union is weakened by right-to-work laws.
UPDATE: The Labor Department reported this morning that initial jobless claims last week rose by 4,000 to 371,000.
The truth is not close to the numbers the pundits and politicians share in public. Underemployment must be part of this mix. Please read and share the article by Markos Kaminis, aka the Wall Street Greek. -PBN
Nonfarm Payrolls increased by 155,000 on net in December 2012, a number that perfectly matched against the consensus of economists surveyed by Bloomberg. The Unemployment Rate was likewise perfectly placed against economists’ expectations at 7.8%, and it was unchanged from November. But America wants to know what the real rate of unemployment is.
Years ago, we were one of the first to shed light on the concept of an underemployment rate, which incorporates people who are not satisfied with their less than full employment and also includes those desperate Americans detached from the labor force. Ahead of the presidential election, Mitt Romney was talking about another version of unemployment that we also suggested Americans consider. That figure used a labor participation rate from when President Obama took office, though we would look back further to when unemployment was under 5.0% instead. It makes sense to use such a participation rate, if you believe population growth and the maturing of Americans at least matches the number of seniors retiring by choice and Americans passing away prematurely. Obviously there are demographic trends at play as well, like the aging of the baby boomers, but so much so soon? Because of the relevant issue of long-term unemployment in America today and workers falling off the labor force radar screen while still interested in working, these figures are likely closer to reflecting the true state of American labor.
The calculation of the under-employment rate, or the U-6 by government notation, takes into account the number of Americans working part-time for economic reasons and the detached workforce. Working part-time for economic reasons is equivalent to folks who would prefer full-time employment but have had their hours cut or have had to otherwise settle for part-time work. Detached workers are those Americans who have not recently looked for work, sometimes because they do not believe work exists for them today. In getting to the U-6 “underemployment” figure, we’ll need to include these groups of workers with unemployed Americans. If we add back the excluded 2.614 million displaced workers to the labor market, and include the 7.918 million underemployed part-timers in the unemployed count, December adjusted unemployment is found to be ((12.206M + 2.614M + 7.918M) / (155.511M + 2.614M)) * 100 = 14.4%. In November, the rate was ((12.042M + 2.505M + 8.138M) / (155.319M + 2.505M)) * 100 = 14.4%, or the same misery.
This data can be skewed by any of its components. Starting with the denominator, the labor force count increased in December, which would dilute the numerator and moderate the unemployment rate. Note, however, that in December the number of detached workers increased by 109K and the number of forced part-timers decreased by 220K. It’s hard to say whether detached workers disappeared off the radar screen and part-timers got fired, or if these folks found work of some sort. Most importantly, the number of people reporting unemployed status was up by 164,000. The end result of the changes in the categories netted into something less than significant enough to change the underemployment rate, matching the message of the unchanged unemployment rate in December.
Historically speaking, U-6 unemployment is improved, as you can see by the table here. However, this improvement may be for another reason which is unaccounted for by this data, which we discuss in the paragraphs below.
|Monthly Period||U-6 Unemployment Rate (Seasonally Adjusted)|
What About the Forgotten?
I often talk about the great degree of long-term unemployment plaguing our nation today and how this has uniquely impacted reported employment data. The number of Americans unemployed for 27 weeks or longer was relatively unchanged in December at roughly 4.8 million. This represented 39% of the total unemployed count.
The proportion is down from recent history, though it continues to reflect poorly on the state of labor. That’s because the longer people remain unemployed, the harder it gets for them to find jobs in their specialty fields due to eroding and outdated skill sets. Many of us fear that improvement in the proportion of long-term unemployment is partly due to Americans simply falling out of the labor force count rather than finding new employment.
For this reason, some, including yours truly and more notably Mitt Romney, have been considering what the unemployment rate might be at labor force participation rates of the past. The labor force participation rate was 63.6% in December 2012. That compares against 66.4% in December 2006, which was the high for December since 2002. Now, maybe that participation rate reflected the excesses of the mortgage, construction and finance industries that resulted from greed and the fault of the rating agencies and those industries. Those faults are still bearing out in layoffs, like the significant cuts announced last year by Bank of America (BAC) and again late this year by Citigroup (C). Still, let’s calculate what the unemployment rate would be at such a participation rate, because if the economy had not been so disrupted by the financial crisis, perhaps those employed in the synthetically fattened fields might have found other work.
Applying the 66.4% rate to the civilian noninstitutional population count in December 2012, we get a civilian labor force count of 162,248,400, versus the 155,511,000 reported (Note calculation error exists because of the seasonal adjustment to the labor force count. I’ve attempted to back into that adjustment and apply it to the theorized labor force count, resulting in this figure for the adjusted labor force: 162,357,396). After that adjustment, the difference from this December’s workforce count is 6,846,396 million Americans who would be added to the unemployed count as well. So, the real unemployment rate could be 11.7% (not 7.8%) if those nearly 7 million Americans have simply fallen off the radar. Likewise, the real underemployment rate could be as high as 17.9% today.
Those are much more significant figures reflecting a poorer state of health for American labor and the economy. Now, the trend would still seem to be improving, but the data would argue for continued stimulation of the economy by the Federal Reserve and through fiscal policy. The theme of this article is to simply show what real unemployment might be, and not to get deeper into resulting fiscal and monetary policy consequences and strategy, but perhaps we’ll expand upon this in upcoming work for you. It’s clear that we need to continue to stimulate job creation in America so that we can support and grow consumer spending and personal income, and in so doing raise revenues to support our nation’s needs and growth.
If we can accomplish this while at the same time reining in excess spending and gaining control of our debt, then we might maintain an environment supportive of business. An environment supportive of business is an environment supportive of the stock market. Thus, dignified decision-making must overtake dysfunctional politics in Washington D.C. if we are to see the historical average gains of the market continue over the next several decades. Therefore, we must demand more from our politicians. Otherwise, the performance of the broader indexes, reflected in the SPDR S&P 500 (SPY), SPDR Dow Jones Industrial Average (DIA) and the PowerShares QQQ (QQQ) will diverge from their historical gains. For this reason, today’s market is a stock-pickers’ market, but one burdened by the heavy weight of macroeconomic issues. To help to lighten that burden, we must continue to seek to spur job creation, because the situation is worse than it seems as indicated by the real unemployment rate.
A list of layoffs since the election and we’ve had about 100,000 layoffs publicized since November 7th, 125 businesses, including some large chain stores, have announced they are closing and there have also been a number of bankruptcies announced.
You can thank the stupid American voter who either voted for Obama, or didn’t turn out to vote for Mitt Romney in the recent election for the recent layoffs. Obama has made it quite clear that he want’s to destroy the economy, as have far left Marxist Democrat!!
Since this list was made more lay offs have occurred and more Businesses have shut their doors
Layoffs Announced Since Election
Here are just a few of the Jobs that are being destroyed due to Obama being re-elected, you know he is so happy he is crying.. 4,355 plus jobs GONE, not to mention the closing of 204 coal plants that will be closing over the next few years..and the companies that are cutting hours low enough so they won’t have to furnish obamacare to their employees, thats 22 hours a week…
All of these happen 2 days after obama’s re-election…thank you obamabots , you just like obama are losers not to mention the destroyers of this once great NATION….
The St. Louis-based company said Thursday that it expects to shed about 1,500 employees. When finished, the restructuring should lead to $200 million in pretax yearly savings, Energizer said. It aims to have most of its restructuring steps finished by the end of September 2014.
• Westinghouse -
Westinghouse Anniston, the contractor responsible for shutting down Anniston’s chemical weapons incinerator, has reduced its workforce by another 50 employees.
• Research in Motion Limited -
Research in Motion Ltd., the maker of BlackBerry smartphones, laid off about 200 people at its U.S. headquarters in Irving on Wednesday, according to a source close to the company who did not want to be named.
• Lightyear Network Solutions -
More than one dozen employees at a Pikeville company lost their jobs this week. Officials with Lightyear Network Solutions said they are consolidating offices in Louisville and Pikeville to save money.
• Providence Journal - The Providence Journal Co. laid off 23 full-time workers Wednesday as part of a cost-cutting effort, including 16 members of the Providence Newspaper Guild and 7 non-union employees.
• Hawker Beechcraft -
The company says 240 employees will lose their jobs with the closing of Hawker Beechcraft Services facilities in Little Rock, Ark.; Mesa, Ariz.; and San Antonio, Texas.
• Boeing (30% of their management staff) -
Boeing Co. said Wednesday it plans to employ 30% fewer executives at its Boeing Defense, Space & Security unit by the end of 2012 compared to 2010 levels.
• CVPH Medical Center -
CVPH Medical Center has handed pink slips to 17 employees. The layoffs — nine in management and eight hourly staffers — are part of an effort to “help bolster the hospital’s financial position in 2013 and beyond,” a press release said.
• US Cellular -
The move will result in 980 job cuts at U.S. Cellular, with 640 in the Chicago area, according to a spokeswoman. The cuts are slightly under 12 percent of the approximately 8,400 total employees U.S. Cellular had at the end of the third quarter.
• Momentive Performance Materials -
About 150 workers at Sistersville’s Momentive Performance Materials plant will be temporarily laid off later this month, officials said this week.
• Rocketdyne -
About 100 employees at Pratt & Whitney Rocketdyne, most of whom work in the San Fernando Valley, were laid off Wednesday in response to dwindling government spending on space exploration, the company said. The layoffs were effective immediately, and 75 percent of them came at the facilities on Canoga and De Soto avenues, which employ about 1,100 people. The company has six sites across the Valley.
• Brake Parts -
The leader of an automotive parts plant in Lincoln County has told state officials that there are plans to lay off 75 workers starting in late December…The layoffs are expected to start Dec. 28 and continue in the first quarter of 2013
• Vestas Wind Systems -
Vestas Wind Systems A/S (VWS) is seeking to sell a stake of as much as 20 percent and said it’s reducing headcount by 3,000 to raise the staff cuts by the biggest wind turbine maker to almost a third over two years.
• Husqvarna -
Husqvarna AB (HUSQB), the world’s biggest maker of powered garden tools, plans to cut about 600 jobs in a move that will save 220 million kronor ($33 million) a year by 2014.
• Center for Hospice New York -
The Center for Hospice and Palliative Care plans to temporarily lay off as many as 40 employees next year as it embarks on a major renovation of the inpatient unit at its Cheektowaga campus.
• Bristol-Meyers -
Bristol-Myers Squibb is following up its lackluster third-quarter results with almost 480 layoffs. As Pharmalot reports, the company notified the New Jersey government that it would scale back in Plainsboro, which means the cuts will hit its sales operations.
• OCE North America -
Trumbull printer- and scanning-equipment provider Oce North America, Inc. will lay off 135 workers in three Connecticut communities, including East Hartford, according to its notice with the state Labor Department.
• Darden Restaurants -
The company, which was among those who had received an Obamacare waiver in the past, is looking to limit workers to 28 hours per week. A full time employee that is required to have health insurance (lest the employer pay a fine) works 30 hours per week, as defined by the Obamacare law.
• West Ridge Mine -
In its statement, UtahAmerican Energy blames the Obama administration for instituting policies that will close down “204 American coal-fired power plants by 2014″ and for drastically reducing the market for coal.
• United Blood Services Gulf -
United Blood Services Gulf South region, the non-profit blood service provider for much of south Louisiana and Mississippi, will lay off approximately 10 percent of its workforce. It was a hard decision to make according to Susan Begnaud, Regional Center Director for the Gulf South region.
A layoff is tough enough for employees to deal with, imagine hearing the crushing news that your office is shutting down just before Thanksgiving and Christmas… Here are some of the business closings that were announced in just the past two days:
- Caterpillar Inc. will close its plant in Owatonna Minn.
- Mount Pleasant’s Albrecht Sentry Foods
- The Target store at Manassas Mall Va.
- Millennium Academy in Wake Forest NC
- Target Closing Kissimmee FL Location
- The Andover Gift Shop in Andover MA
- Grand Union Family Markets Closing Storrs Location CT
- Movie Scene Milford Location NH
- Update: TE Connectivity Closing Greensboro Plant – 620 Layoffs Expected
- Gomer’s Fried Chicken in South Kansas City
- Kmart in Homer Glen
- Fresh Market on Pine Street in Burlington
- AGC Glass North America to permanently close its Blue Ridge Plant in Kingsport Tenn.
- The Target store at Platte and Academy in Colorado Springs
- The Roses store on Reynold Road in Winston-Salem NC
- Meanders Kitchen losing its West Seattle location at 6032 California Ave
- Bost Harley-Davidson at 46th Avenue North and Delaware Ave. in West Nashville TN
- Townsend Booksellers in Oakland
- The Kmart store in Parkway Plaza off University Drive in Durham NC – 79 Jobs Lost
To see even more companies that announced layoffs since the election, visit the Daily Job Cuts page.
Romney’s crowds are building — 28,000 in Morrisville, Pa., last night; 30,000 in West Chester, Ohio, Friday. It isn’t only a triumph of advance planning: People came, they got through security and waited for hours in the cold. His rallies look like rallies now, not enactments. In some new way he’s caught his stride. He looks happy and grateful. His closing speech has been positive, future-looking, sweetly patriotic. His closing ads are sharp — the one about what’s going on at the rallies is moving. …
Is it possible this whole thing is playing out before our eyes and we’re not really noticing because we’re too busy looking at data on paper instead of what’s in front of us? Maybe that’s the real distortion of the polls this year: They left us discounting the world around
Mitt Romney is the man for the moment. His career history indicates that he’s never met a challenge he hasn’t overcome. From his personal life to his business record, whether saving the Salt Lake City Olympics or serving as Massachusetts governor, he has excelled. Now, he is willing to take on the major challenges facing America that threaten the immediate and long-term well-being of the nation.
Looking back, certain leaders — George Washington, Abraham Lincoln and Ronald Reagan immediately come to mind — emerged at a time when our nation desperately needed a man with unique gifts and abilities. Critical times require exceptional individuals, leaders whose character, abilities and experience equip them to tackle the nation’s problems. They lead not for political expediency, their own glory or to build up their own egos, but for the sake of the nation’s future. History is replete with instances when a particular leader made, for good or ill, an enormous difference morally, socially and economically.
Numerous pundits are saying that never in the history of America has there been such a clear choice between two different philosophies as in the worldviews of the two 2012 presidential candidates. The stakes of this election are enormous.
President Obama has made it clear that he wants America to look more like Europe. He has apologized for what he calls the nation’s past mistakes. He told a Russian leader that he would have “more flexibility” to work with other nations during his second term, when he didn’t have to face re-election. He has distanced the United States from both Great Britain and Israel, two of our strongest and closest allies. Every day, revelations about Benghazi, Libya, are looking more horrific and disturbing in what they tell us about the state of our foreign affairs.
“I hate white people, every last iota of a cracker I hate him, you want freedom, you’re going to have to kill some crackers, you’re gonna have to kill some of they babies” –King Samir Shabazz (real name Maurice Heath)
But now with 100 percent less nightstick!!
The national leader of the group, Malik Zulu Shabazz, told a radio interviewer in September that the New Black Panthers – labeled a hate group by the Southern Poverty Law Center and others for its anti-white and anti-Semitic rhetoric – might be out monitoring some polling places again in 2012.
“I will say that as this election comes up in November, we will consider our options,” he told WABC Radio’s “Aaron Klein Investigative Radio” show. “And we will consider the fact whether we will legally and lawfully go to the polls again to make sure there is no intimidation against our people, which was our intent in 2008.”
A scathing video review of President Barack Obama’s first term is sweeping the internet less than two days before the most important presidential election in a generation. The video, titled “Conservatism Is Calling,” outlines Obama’s broken promise to bring “hope and change” to Washington D.C.
The video, which currently has more than 500,000 views on YouTube, also highlights a number of Obama’s empty pledges he made on the campaign trail in 2008. Obama can be seen promising to “fundamentally transform the United States of America,” pledging to cut the federal deficit in half, fix the economy and reign in unemployment in his first term. While he did make good on his promise to “transform” the nation, it wasn’t in the way that many had hoped.
He called the Bush administration “unpatriotic” for running up massive annual deficits. However, as the YouTube video points out, Obama’s deficit at $1.3 trillion in 2012 alone was more than four years under former President George W. Bush combined. The video also indicates that Obama missed his pledge to cut the deficit in half by 500 percent.
he video blasts Obama for playing more than 100 rounds of golf, which at four hours per round, equals roughly 10 work weeks — “Just for golf.” Meanwhile, the American people continue to struggle in the “worst economy since the Great Depression.”
more from theblaze.com
Unemployment for the youth is extremely high, and it will only get higher if obama is allowed to serve another 4 years as our president…Young people , white, black and Hispanic, you may think obama is cool, but you can’t buy your cars and gas and stylish clothes with coolness, it takes a job, think twice before you pull that lever on November 6. Romney may be a square to you but he will create policy that will allow businesses to create jobs for you and that is what being a President is all about.
Pollster John Zogby told Secrets this week that support among younger voters aged 18-29 is down for President Obama and the new October unemployment rates announced Friday morning may explain why.
According to the government, the overall youth unemployment rate is 12 percent. But for younger black voters, a critical Obama support block, the rate is a staggering 21.4 percent. And for Hispanic youth voters it is 13.4 percent.
According to the youth-focused group Generation Opportunity, which pulled the youth figures out of the overall labor numbers, the picture might be worse.
“The declining labor force participation rate has created an additional 1.7 million young adults that are not counted as ‘unemployed’ by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs,” they said.
Generation Opportunity President Paul T. Conway, said “For the president, the failure to address young adult unemployment and to understand the negative impact on their hopes will, in retrospect, be seen as the reason why he lost support among millions of who once believed in his ability to affect lasting change.”
House Oversight and Government Reform Committee Chairman Darrell Issa today demanded that Secretary of State Hillary Clinton turn over documents concerning what he called “excessively lavish” spending for official White House state dinners.
Issa also released a video titled “All the President’s Parties” comparing President Obama’s promises to cut wasteful federal spending with examples of extravagance drawn from the dinners for foreign dignitaries.
“During these tough economic times, Americans are reining in their spending wherever possible,” Issa said in the Nov. 1 letter to Clinton, citing recent reporting by The Washington Examiner. “The executive branch should be mindful of this. Reports of excessively lavish events, however, indicate the opposite.” (See the complete letter in the embedded viewer beneath this story.)
The Examiner reported on Oct. 26 that a May 2010 Obama state dinner for Mexican President Felipe Calderón cost nearly $1 million, or $4,700 per attendee. Three other Obama state dinners since 2009 cost half a million or more, according to official documents cited by the newspaper.
With the latest jobs report, it is now the case that “Under Obama, Food Stamp Growth is 75 Times Greater Than Job Creation,” according to statistics compiled by the Senate Budget Committee. “For Every Person Added to Jobs Rolls Since January 2009, 75 People Added To Food Stamp Rolls.”
Since January 2009, as the chart shows, a net of 194,000 new jobs have been created. During that same time, 14.7 million have been added to the food stamp rolls.
Read more HERE