Jobs – The Presidency In Review

by Steve Eggleston | February 8th, 2014

Readability

Jobs - The Presidency In Review

By Steve Eggleston

Yes­ter­day, the Jan­u­ary 2014 jobs report was released. The toplines were a mixed bag, with a less-​than-​expected 113,000 jobs added on a seasonally-​adjusted basis, to bring the total num­ber of jobs to 137,499,000, and a methodology-​influenced 638,000 increase in employ­ment on a seasonally-​adjusted basis, to bring the total num­ber of employed to 145,224,000. That drove the unem­ploy­ment rate down by 0.1 per­cent­age point to 6.6% and the labor force par­tic­i­pa­tion rate and employment-​population ratio up by 0.2 per­cent­age points to 63.0% and 58.8% respectively.

Over the course of the last year, using unad­justed num­bers, the econ­omy added 2,238,000 jobs to 133,396,000, the num­ber of employed increased by 1,912,000 to 143,526,000, the labor force par­tic­i­pa­tion rate fell by 1.3 per­cent­age points to 62.5%, and the employment-​population ratio increased by 0.2 per­cent­age points to 58.1%.

Since Com­mu­nists and social­ists like to use five-​year plans, and we have just passed the five-​year point of the Obama Pres­i­dency, it is high time to review the per­for­mance of the econ­omy on the jobs front dur­ing his tenure. Con­grat­u­la­tions, Mr. Pres­i­dent; your econ­omy pro­duced an unsea­soned 3,431,000 net new jobs dur­ing your 5 years in office. Of course, that is only enough to pro­vide jobs for just over 1 in 4 of the addi­tional 12,176,000 added to the civil­ian non­in­sti­tu­tional pop­u­la­tion, oth­er­wise known as the poten­tial work­force, dur­ing your tenure. It also is 804,000 fewer jobs than existed in Jan­u­ary 2008, which on a sea­sonal basis was the peak month before the Great Reces­sion and your election.

The news is worse on the actual num­ber of peo­ple employed. That only increased by an unsea­soned 3,090,000 between Jan­u­ary 2009 and Jan­u­ary 2014, and is over 1 mil­lion below what it was in Jan­u­ary 2008. As a per­cent­age of pop­u­la­tion, the unsea­soned employment-​population ratio dropped from 59.8% in Jan­u­ary 2009 to 58.1% in Jan­u­ary 2014. That is, other than the other 4 Jan­u­arys of the Obama Pres­i­dency, the worst Jan­u­ary since 1984 (57.7%). On a sesonally-​adjusted basis, the 58.8% employment-​population ratio in Jan­u­ary 2014 is worse than every month between Jan­u­ary 1984 (58.8%) and Sep­tem­ber 2009 (58.7%).

Of course, you and your party see that as a good thing con­sid­er­ing your response to the Con­gres­sional Bud­get Office report find­ing that over 2 mil­lion full-​time equiv­a­lent posi­tions won’t exist in 2024 because of PlaceboCare.

The younger gen­er­a­tions took the past 5 years directly in the shorts. The num­ber of employed among the “prime work­force”, those between the ages of 25 and 54, decreased by 1,409,000 on an unsea­soned basis over those 5 years to 94,512,000. That is, other than the prior four Jan­u­arys, the low­est Jan­u­ary employ­ment num­ber since 1998 (94,196,000). As a per­cent­age of the pop­u­la­tion, the 75.94% employment-​population ratio among 25 – 54 year olds is a drop of 0.51 per­cent­age points from Jan­u­ary 2009’s 76.45%, and is, other than the 4 Jan­u­arys in between, the low­est Jan­u­ary since 1985 (75.7%). On a seasonally-​adjusted basis, the 76.5% employment-​population ratio among 25 – 54 year olds is the low­est between June 1985 (76.4%) and March 2009 (76.2%).

It gets worse the younger one gets, at least in terms of per­cent­age of the pop­u­la­tion actu­ally work­ing. The unsea­soned employment-​population ratio of those between 20 and 24, at 60.5%, is a drop of 1.8 per­cent­age points from Jan­u­ary 2009’s 62.3%, and is, other than the 4 Jan­u­arys in between, the low­est Jan­u­ary since 1965 (59.1%). The last time prior to June 2009 (62.2%) the seasonally-​adjusted employment-​population ratio among those between 20 and 24 years old was as low as the cur­rent 62.3% was June 1971 (61.0%).

The worst fate is reserved for those just leav­ing high school, the 18 – 19 year olds. Only 33.4% of them on an unsea­soned basis were work­ing, a drop of 6.0 per­cent­age points from Jan­u­ary 2009’s 39.4%, and the worst Jan­u­ary since records began in 1948. The seasonally-​adjusted 35.8% employment-​population ratio among 18 – 19 year olds is the 4th-​worst month on record, behind only June 2010 (35.8%), June 2011 (35.7%) and July 2011 (35.5%).

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[olimome­ter id=3]

It’s Sat­ur­day and with under 3 hours to go for the pay week the till stands at $155.

That means it will only take 8 of you kick­ing in $25 to get us to this weeks’ goal.

With a new writer pre­mier­ing this week and a 2nd start­ing next week and the CPAC bills soon to be on the card it’s vital to stay ahead of the game.

Your tip jar hit can help me do this. Please con­sider kick­ing in.

Only 55 34 more sub­scribers @ at $20 a month are nec­es­sary to secure the cost of DaM­ag­nif­i­cent Seven & my monthly mort­gage on a per­ma­nent basis. (one extra one will pay for our newest writer author Tim Imholt
) If you sub­scribe at the $25 level or more there is a new pre­mium that you can receive which I will be announc­ing next week.

Beanie : $2.00USD — week­ly­Cap : $10.00USD — month­ly­Hat : $20.00USD — month­lyFe­dora : $25.00USD — month­ly­Grand Fedora : $100.00USD — monthly

By Steve Eggleston

Yesterday, the January 2014 jobs report was released. The toplines were a mixed bag, with a less-than-expected 113,000 jobs added on a seasonally-adjusted basis, to bring the total number of jobs to 137,499,000, and a methodology-influenced 638,000 increase in employment on a seasonally-adjusted basis, to bring the total number of employed to 145,224,000. That drove the unemployment rate down by 0.1 percentage point to 6.6% and the labor force participation rate and employment-population ratio up by 0.2 percentage points to 63.0% and 58.8% respectively.

Over the course of the last year, using unadjusted numbers, the economy added 2,238,000 jobs to 133,396,000, the number of employed increased by 1,912,000 to 143,526,000, the labor force participation rate fell by 1.3 percentage points to 62.5%, and the employment-population ratio increased by 0.2 percentage points to 58.1%.

Since Communists and socialists like to use five-year plans, and we have just passed the five-year point of the Obama Presidency, it is high time to review the performance of the economy on the jobs front during his tenure. Congratulations, Mr. President; your economy produced an unseasoned 3,431,000 net new jobs during your 5 years in office. Of course, that is only enough to provide jobs for just over 1 in 4 of the additional 12,176,000 added to the civilian noninstitutional population, otherwise known as the potential workforce, during your tenure. It also is 804,000 fewer jobs than existed in January 2008, which on a seasonal basis was the peak month before the Great Recession and your election.

The news is worse on the actual number of people employed. That only increased by an unseasoned 3,090,000 between January 2009 and January 2014, and is over 1 million below what it was in January 2008. As a percentage of population, the unseasoned employment-population ratio dropped from 59.8% in January 2009 to 58.1% in January 2014. That is, other than the other 4 Januarys of the Obama Presidency, the worst January since 1984 (57.7%). On a sesonally-adjusted basis, the 58.8% employment-population ratio in January 2014 is worse than every month between January 1984 (58.8%) and September 2009 (58.7%).

Of course, you and your party see that as a good thing considering your response to the Congressional Budget Office report finding that over 2 million full-time equivalent positions won’t exist in 2024 because of PlaceboCare.

The younger generations took the past 5 years directly in the shorts. The number of employed among the “prime workforce”, those between the ages of 25 and 54, decreased by 1,409,000 on an unseasoned basis over those 5 years to 94,512,000. That is, other than the prior four Januarys, the lowest January employment number since 1998 (94,196,000). As a percentage of the population, the 75.94% employment-population ratio among 25-54 year olds is a drop of 0.51 percentage points from January 2009′s 76.45%, and is, other than the 4 Januarys in between, the lowest January since 1985 (75.7%). On a seasonally-adjusted basis, the 76.5% employment-population ratio among 25-54 year olds is the lowest between June 1985 (76.4%) and March 2009 (76.2%).

It gets worse the younger one gets, at least in terms of percentage of the population actually working. The unseasoned employment-population ratio of those between 20 and 24, at 60.5%, is a drop of 1.8 percentage points from January 2009′s 62.3%, and is, other than the 4 Januarys in between, the lowest January since 1965 (59.1%). The last time prior to June 2009 (62.2%) the seasonally-adjusted employment-population ratio among those between 20 and 24 years old was as low as the current 62.3% was June 1971 (61.0%).

The worst fate is reserved for those just leaving high school, the 18-19 year olds. Only 33.4% of them on an unseasoned basis were working, a drop of 6.0 percentage points from January 2009′s 39.4%, and the worst January since records began in 1948. The seasonally-adjusted 35.8% employment-population ratio among 18-19 year olds is the 4th-worst month on record, behind only June 2010 (35.8%), June 2011 (35.7%) and July 2011 (35.5%).

*****************************************************

Olimometer 2.52

It’s Saturday and with under 3 hours to go for the pay week the till stands at $155.

That means it will only take 8 of you kicking in $25 to get us to this weeks’ goal.

With a new writer premiering this week and a 2nd starting next week and the CPAC bills soon to be on the card it’s vital to stay ahead of the game.

Your tip jar hit can help me do this. Please consider kicking in.

Only 55 3/4 more subscribers @ at $20 a month are necessary to secure the cost of DaMagnificent Seven & my monthly mortgage on a permanent basis. (one extra one will pay for our newest writer author Tim Imholt
) If you subscribe at the $25 level or more there is a new premium that you can receive which I will be announcing next week.

Beanie : $2.00USD – weeklyCap : $10.00USD – monthlyHat : $20.00USD – monthlyFedora : $25.00USD – monthlyGrand Fedora : $100.00USD – monthly

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