Federal Reserve Says Unemployment High Until 2015

[Luke_Wilbur]

I do understand what you are stating. Of the 290,000 jobs created, only 146,000 are clearly stated.

 

fabricated metals 9,000

machinery 7,000

nondurable goods manufacturing 14,000

Mining added 7,000

nonresidential building 9,000

heavy construction 9,000

Temp help services 26,000

building and dwellings 23,000

computer systems design 7000

hospitals 6,000

accommodation and food services 29,000

 

This only a survey. Next year's IRS tax returns will give a better indication.

Edited May 10, 2010 by Luke_Wilbur

[Guest LAW]

Maybe these links will give you better incite:

 

http://www.bls.gov/news.release/empsit.b.htm

 

http://www.bls.gov/news.release/empsit.t09.htm

[Guest Agonist]

At least you know that such a directory exists, and that the top African American Leadership in having it, and has not shared with the rest says a great deal about human nature.

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What are these directories you keep referring to, Human?

[Guest FRAC]

In February 2010, SNAP/Food Stamps participation continued to break records, rising to 39,693,919 people, an increase of 262,929 individuals from January 2010, the prior record level, and an increase of more than 7.1 million people compared with the prior February.

 

Approximately one in eight Americans receives SNAP/Food Stamps. This is the highest share of the U.S. population on SNAP/Food Stamps.

 

http://www.frac.org/data/FSPparticipation/2010_02.pdf

[Guest LAW]

Here are the current statistics.

 

http://www.fns.usda.gov/pd/29SNAPcurrPP.htm

 

As of Oct. 1, 2008, Supplemental Nutrition Assistance Program (SNAP) is the new name for the federal Food Stamp Program. The new name reflects the changes we’ve made to meet the needs of our clients, including a focus on nutrition and an increase in benefit amounts. SNAP is the federal name for the program. State programs may have different names.

 

http://www.fns.usda.gov/pd/snapmain.htm

[Guest LAW]

States that have increased people applying for food stamps from Jan to Feb 2010

 

Alaska, California, Colorado, Connecticut, Florida, Georgia, Guam, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, Wisconsin, Wyoming

 

States with the biggest increase from Jan to Feb 2010

 

Alaska, California, Idaho, Montana, Nevada, New Hampshire, New Mexico, Oregon, Rhode Island

 

States with the biggest increase from Feb 2009 to Feb 2010

 

Arizona, Colorado, Connecticut, Florida, Idaho, Nevada, New Hampshire, Rhode Island, South Dakota

[Guest Uncommon Wisdom]

Payroll company ADP said private employers added just 13,000 jobs in June. That's well short of the 60,000 economists polled by Thomson Reuters forecast. The ADP report is often seen as a precursor to the Labor Department's big monthly jobs report due out today.

 

Sure, earlier this month, the government reported that nonfarm payrolls grew by 431,000 in May. The bad news is most of the new jobs were temporary jobs at the U.S. Census. Private employers weren't hiring. The government's next payrolls report is due out Friday, and economists are actually expecting a contraction — a loss of 130,000 jobs.

[Guest AFL-CIO]

Fifty-five percent of U.S. workers have either been unemployed, taken a pay cut, had their work hours reduced or have become involuntary part-time workers, according to a new survey by the Pew Research Center’s Social and Demographic Trends Project. Yet Senate Republicans do nothing to address the crisis.

[Luke_Wilbur]

I think the hiring of all the census workers was a joke. My friend had six census takers come to his home. What is the purpose of mailing a census form? While there is has been some private sector job growth, the census workers were a total waste of taxpayer money. I would like to know how much they cost.

[Guest HUMAN]

Okay I will probably hate myself later for this "Defending the democrats" BUT there is always mismanagement of money when the government is involved.

 

I really wished that we could have had a merger of Republican and Democrat Ideas on how to fix this economy, but it was just not meant to be.

 

It really does get tiring, and no matter which side of the aisle you are on?

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I think the hiring of all the census workers was a joke. My friend had six census takers come to his home. What is the purpose of mailing a census form? While there is has been some private sector job growth, the census workers were a total waste of taxpayer money. I would like to know how much they cost.

[Guest Newt]

The campaign this fall can be boiled down to a simple choice: job-killers versus job-creators.

 

With so many Americans out of work, candidates will win decisive victories if they can show their opponent's policies will kill jobs and their policies will create jobs.

 

Governing is about having the right principles, policies, processes and people.

 

Successful leaders hold principles that work in the real world, and these principles lead them to the right policies. And because they are determined to measure results, they develop processes that work. Finally, with the right principles, policies, and processes, they look for people who are driven, practical, and experienced to get the right things done the right way.

 

Unfortunately, under the Pelosi-Reid Congress and the Obama presidency, government has become a job-killing system thanks to a set of principles, policies, processes and people that are completely disconnected from reality.

 

I describe this alien ideology in my book To Save America: Stopping Obama's Secular-Socialist Machine. It is a fundamentally anti-work, anti-investment, anti-entrepreneurial ideology that has led to economic stagnation and spiritual decay wherever it has been tried.

 

We can already see the results of this radical ideology in America.

 

The American work ethic is being replaced with a mindset that favors “gaming” the system to get away with working as little as possible.

 

American productivity is being replaced with a set of union work rules and bureaucracy that makes us too slow, too expensive and too cumbersome.

 

The historic American commitment to local representation and local control is being replaced by an emphasis on federal concentration of power and rule by bureaucrats and judges that is stripping Americans of their rights and responsibilities.

 

A commitment to religious freedom and God-given rights is being replaced by a secular oppression that increasingly resembles the government-imposed atheism of Soviet totalitarianism. (I encourage you to watch the documentary Nine Days that Changed the World, which Callista and I host and produced, to learn about the plight of the Polish people under Communism and the brave moral leadership of Pope John Paul II that helped topple the Soviet Union.)

 

The secular-socialist machine of the left has made the recession worse by suppressing the natural resiliency of the American economy and setting the stage for even worse economic challenges in the future.

 

For President Obama, the years he spent studying and teaching the radicalism of Saul Alinsky laid the foundation for a job-killing, anti-business attitude.

 

If you believe business is bad, you will convince it to go away.

 

If you are determined to tax small business owners, entrepreneurs, successful corporate leaders, investors, and innovators they will either avoid taxable behavior or leave the country entirely.

 

If you impose absurd regulatory controls totally out of touch with reality, you will kill jobs.

 

The Obama Administration's moratorium on offshore drilling has already sent high-paying good jobs and tax-paying, profitable companies out of the United States. Obama has been good for jobs in Egypt and the Congo (where the first two oil rigs have gone) but he has killed jobs in Louisiana.

 

The President's proposed energy taxes will kill jobs in America but they will create jobs in China (which this year passed America as the world's largest user of energy).

 

The recently passed government control of the financial system will be good for jobs in London, Tokyo, Frankfurt, Shanghai and other foreign financial centers but it will kill jobs and profits in the United States.

 

We have seen job killers implement job-killing policies before.

 

President Carter had a whole series of job-killing policies from 1977 to 1980 and they worked. They killed a lot of jobs.

 

Politicians in Detroit have been killing jobs for two decades. Only with Mayor Dave Bing's new job-oriented approach has there been any hope of rebuilding Detroit's economy.

 

We have all seen the state governments of New York and California adopt policies that kill jobs and drive businesses and successful individuals out of their states.

 

On the other side, we have seen a job creator like Gov. Rick Perry implement policies which in 2008 led Texas to create as many jobs as the other 49 states combined.

 

Governors Mitch Daniels in Indiana, Tim Pawlenty in Minnesota, Haley Barbour in Mississippi, Sonny Perdue in Georgia, and Bobby Jindal in Louisiana are all examples of principled job creators whose policies work.

 

We are in the worst economy since the Great Depression.

 

The only recent improvements in unemployment numbers have come about because people have quit looking for work and so are no longer counted as unemployed.

 

Under this model, if President Obama could convince every unemployed American to quit looking for work, we would have zero percent unemployment.

 

The number would be great but the reality would be horrible.

 

The simple choice this fall is between job killers and job creators.

[Guest Ron]

Walmart is a job killer

[Guest emporia]

This system is designed to discourage a person from working, and spend into oblivion on worthless sweatshop goods.

[Guest Give me a Job]

Why has our government not stopped issuing work visas for high salary jobs that can be filled by permanent citizens? Why are we still giving corporations the right to go out of the country to find cheap labor to come work here when people here are searching for jobs?

 

And what happened the President's pledge to penalize companies for sending jobs off shore? You can't say that corporations are suffering! They are recording record profits now! It's time Obama does something for labor -- the people who elected him.

[Guest BlingBling]

You can thank the Republicans for stalling the President's agenda. The "Party of No" just stopped 30 Billion dollars for Small Business Lending. Once again we see that Republican Crooks are just for the big corporations.

[Guest HUMAN]

There is hope. There is these coming elections. It's your generations turn to step up to the plate.

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This system is designed to discourage a person from working, and spend into oblivion on worthless sweatshop goods.

[Guest Rebecca]

I think members of Congress need to spend more time with their constituents than in Washington DC. They tend to forget the needs of their people over their own personal agenda. The need to come back home during the Summer months and come up with better strategies of compromise with their peers.

[Guest Fred Lange]

From 2000 to 2007, the United States lost one in five (3.5 million) middle-class jobs. A majority of the new jobs created in the United States under Bush pay extremely low wages at less than $18,000 a year, usually without benefits. This is with corporate profits at an all time high since 1960.

 

Here's the rate of job growth for the administrations since 1960:

 

Kennedy-Johnson 3.27%

Nixon-Ford 4.93%

Carter 3.06%

Reagan 2.06%

Bush I 0.60%

Clinton 2.38%

Bush II 0.59%

 

Economists at Goldman Sachs wrote, "The most important contributor to higher profit margins over the past five years has been a decline in labor’s share of national income." In 2008, consumer spending was responsible for 72% percent of the economic activity in the U.S.

[Guest HUMAN]

Hummmm!! Blaming Bush is not going to work, just like your group stating that you could find Osama bin Laden has not worked.

 

Just like sending the Stimulus funds to the states when they can't even balance their own budgets. It is all interlinked. The Small Business Bill has funding for the social reconstruction of America in it.

 

Your group has not deviated from your own original intent. The numbers speaks volumes.

Nothing has changed.

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From 2000 to 2007, the United States lost one in five (3.5 million) middle-class jobs. A majority of the new jobs created in the United States under Bush pay extremely low wages at less than $18,000 a year, usually without benefits. This is with corporate profits at an all time high since 1960.

 

Here's the rate of job growth for the administrations since 1960:

 

Kennedy-Johnson 3.27%

Nixon-Ford 4.93%

Carter 3.06%

Reagan 2.06%

Bush I 0.60%

Clinton 2.38%

Bush II 0.59%

 

Economists at Goldman Sachs wrote, "The most important contributor to higher profit margins over the past five years has been a decline in labor’s share of national income." In 2008, consumer spending was responsible for 72% percent of the economic activity in the U.S.

[Guest Humorless]

2015? I can't wait that long ...

 

the Federal Reserve thinks it will take until around 2015 to lower the jobless rate to a more normal 5 or 6 percent.

 

From The Detroit News: http://detnews.com/article/20100201/BIZ/2010316/Math-shows-the-challenge-of-reversing-joblessness#ixzz0eI8YcgSu

[Guest Swing Voter]

I would like President Obama to prove to us beyond a shadow of a doubt, that his administration has created jobs, (not census), as they are temporary, not government, but honest to goodness down to earth jobs for the average American. It you can do that you can have my vote. But, I bet you can't.

[Guest Anna Pignataro]

Small business employment grew slightly in July, but at a slower rate than in the past, while wages and hours worked by employees increased at a much faster pace.

 

Those were among the findings included in the latest Intuit Inc. (Nasdaq: INTU) Small Business Employment Index. The monthly report, which now includes a geographical breakdown on hiring trends, found that small business employment grew by 0.2 percent in July, equating to a 2.4 percent annual growth rate. The Index is based on figures from the country's smallest businesses that use Intuit Online Payroll.

 

This translates to approximately 40,000 new jobs nationwide in July, a decrease from June's revised estimate of 45,000 jobs. Since the growth trend began in October 2009, small business jobs have increased by 330,000.

 

The Index's new geographical measurement also revealed that small business employment is slightly up across most of the country. Although the pace of job growth slowed in July, both wages and hours worked increased by 0.7 and 0.9 percent respectively.

 

"While employment is up this month, it is, like last month, up less than the month

before," said Susan Woodward, the nationally recognized economist who worked with Intuit to create the Index. "While this slower growth rate is disheartening, the news is not all bad. Both compensation and hours worked are dramatically up, while employment is slightly up across most of the country. These latter signs indicate a continued general recovery despite slowing growth in employment."

 

Substantial Increases in Compensation, Hours Worked

 

The data shows that workers made more money and worked longer hours. Compensation grew by 0.7 percent in July to $2,624 per month, up from a revised estimate of $2,606 per month in June.

 

Monthly hours worked also increased significantly by 0.9 percent in July to 109.1 hours, compared to a revised estimate of 108.2 hours in June. This translates to wages of about $31,500 per year for all employees, and a 25.2-hour work week for hourly employees.

 

"This is a big increase for compensation which, on an annual basis, would be nearly 10 percent per year," Woodward said. "With inflation running so low, this is a substantial increase in real compensation. The increase in hours worked is also large –more than 10 percent if carried out over an entire year. It appears that small businesses are busy, and need additional help, but are asking their existing people to work more hours rather than hiring more people."

 

Small Business Employment by Geography

 

The latest installment of the Intuit report also breaks down employment by divisions and states across the country. Mountain states saw the largest increase by percentage, followed by the South Atlantic and Pacific Coast. For the states in which the Index has more than 1,000 small firms represented, Maryland saw the greatest growth while New Jersey is the only state that saw a slight decrease in employment.

 

"Providing small business employment data by geography paints a clearer picture of where growth is occurring," said Cameron Schmidt, vice president of Intuit's Employee Management Solutions division. "It's good to see a slight increase in employment growth for July in most parts of the country."

 

About the Index

 

The Intuit Small Business Employment Index is based on aggregate and anonymous online employment data from approximately 62,000 small business employers each with fewer than 20 employees. These small businesses use Intuit Online Payroll from Intuit, the No. 1 provider of payroll software with more than 1 million customers. These smallest employers are important to the economy as they comprise 87 percent of the total U.S. private employer base and employ nearly 20 million people.

[Guest Ron]

There may be a slight increase in jobs, but Americans are not feeling good about it and "Big Business" has turned into a bad word.

 

The National Federation of Independent Business Optimism Index now sits at the lowest level seen this year.

 

http://www.nfib.com/Portals/0/PDF/sbet/sbet201008.pdf

 

During the ups and downs of this U.S. recession, Americans' faith in small business has grown, while their faith in big business has not. Three times more Americans now say they have "a great deal" or "quite a lot" of confidence in small business (66%) than say this about big business (19%). And this gap has grown since the global financial collapse.

 

http://www.gallup.com/poll/141578/Americans-Three-Times-Confident-Small-Big-Business.aspx

[Guest LAW]

According to USDA Supplemental Nutrition Assistance Program on average, 41 million individuals were eligible for benefits each month in 2008, and 27 million received them. While the program served 67 percent of all eligible individuals, the program provided nearly 84 percent of the benefits that all eligible individuals could receive. This is because the neediest individuals who were eligible for higher benefits participated at higher rates than other eligible persons.

 

The national participation rate among individuals increased 1 percentage point between 2007 and 2008. This increase was not statistically significant. The rise in the participation rate is due to an increase in participating individuals that was greater than the increase in eligibles.

 

While the number of eligible rose by 5 percent, the number of participants rose by 7 percent. Economic factors, including increases in the number of unemployed people and in the number of people in poverty, contributed to the increase in eligible individuals and participants. With respect to the State program environment, States have taken multiple steps to make it easier for eligible persons to apply for and receive SNAP. Many State agencies have increased outreach to low-income families, implemented program simplifications, and engaged community partners in the application process.

 

At the same time, States are facing their own economic challenges when it comes to covering their share of administrative expenses. Participation rates increased slightly for most economic and demographic subgroups between 2007 and 2008. Groups with the largest increases included the elderly (3 points), individuals in households with no cash income(5 points), and individuals qualifying for the maximum benefit (6 points).

 

Rates remained relatively high for children, individuals with incomes between 1 and 50 percent of poverty, and recipients of Temporary Assistance for Needy Families (TANF) or Supplemental Security Income (SSI), following historical trends. At least 82 percent of all eligibles from these groups participated. In contrast, participation rates for eligible elderly adults, nondisabled childless adults, and individuals living in households with incomes above poverty were much lower – 41 percent or less. Rates for eligible noncitizens and individuals in households with earnings were 51 and 55 percent, respectively.

[Guest Newt]

In the 2008 campaign, President Obama gave us all a hint of his socialist leanings when he promised to Joe the Plumber that he would "spread the wealth around." Last week, we found out that his policies and those of the Democrats are delivering on that promise...athough probably not in the way they expected.

 

The use of food stamps hit a record high in May 2010, according to the U.S. Department of Agriculture, with 40.8 million Americans receiving Supplemental Nutritional Assistance Program (SNAP) subsidies for food purchases. This is more than one-eighth of the population.

 

Worse, the USDA projects the number of Americans using food stamps will rise to 43.3 million in 2011.

 

President Obama, Nancy Pelosi and the Democrats are insisting that the economy has turned the corner and things are getting better. But how can the economy be getting better if the use of food stamps, a key metric in gauging the health of the American economy, is projected to increase over the next year?

 

The fall campaign should be framed around a choice between job killers and job creators. Sticking to that theme, another way to phrase that clear choice for voters is between policies that result in more Americans receiving food stamps and policies that result in more Americans receiving paychecks.

 

More Food Stamps vs. More Paychecks. That is the choice facing America this fall.