U.S. job growth falters as cold weather grips nation

Comments (63)
AZreb wrote:

Does anyone realize that seasonal hiring has a lot to do with the gain in jobs? Part-time, temporary, minimum wage jobs – all increase during the holiday season. How many of those workers will be kept on after February, March?

As the kids would say “DUH”!!!!

Jan 10, 2014 7:25am EST  --  Report as abuse
4825 wrote:

No one really expects to see anything other than a report showing job gains come out of Obama’s administration since it is an election year. They are in charge of reporting the data so you will hear only what they want you to hear between now and the election. Anytime numbers come out they are reported and then will be quietly revised at a later date.

Jan 10, 2014 8:19am EST  --  Report as abuse
gcf1965 wrote:

I am pretty sure, you could find someone in DC who can give you the unemployment figures all the way through Decembe, after all, I am sure they have already laid a plan for what will make obama and the dems look best. Really, a miserable, absolutely horrible jobs report and the number drops like we just hit another industrial revolution. This is a joke right?

Jan 10, 2014 9:03am EST  --  Report as abuse
gcf1965 wrote:

In other news, McDonalds finds that Big Macs cure cancer and urges everyone to eat as many as possible

Jan 10, 2014 9:05am EST  --  Report as abuse
COindependent wrote:

Without getting into the politics of this, 74,000 new jobs is only 50% of the number needed to absorb new entrants into the job market. We need a minimum of 150,000 new full time jobs every month to absorb the young people entering the market.

The Fed Reserve reported that the labor participation rate for those between the ages of 25-54, is down ~2.5% vs. 2007. These are people in their prime working years–yet you never have one politician speak to this, even as we import more goods from Asia that used to be produced here. Additionally, those 55 and older people who intended to retire and have jobs are staying in the workforce longer.

We need upwards of 300,000-400,000 new jobs every month for the next year to get back to the labor force participation rates of 2007. The economy cannot grow at a 3%-4% rate without more consumers.

In spite of what the politicians tell you, it cannot be done with extending unemployment benefits, more entitlements, or more people on food stamps. Those programs are merely mechanisms to redistribute the income of those already working (and paying taxes).

The political situation in Washington that promotes greater dependence on government does not grow the job market. We need to change the entire political dialogue if we want to grow the economy–that includes regulations, taxes, and the size of government.

Jan 10, 2014 9:06am EST  --  Report as abuse
Dronetek1 wrote:

Reuters doing Obama damage control.

Jan 10, 2014 9:29am EST  --  Report as abuse
YRaj wrote:

The comments here are pathetic…when there is a positive explanation, it is denounced as political, however, when it is very negative, it is reality. I suppose you chose to ignore the upward revision of last month, of course, if it was downward, you would have been all over it. Also the recent plunge in unemployment claims. Even in this report, it is hard to ignore the stubborn persistent private section employment strength..and…”Private-sector hiring hit its fastest pace in 13 months in December”

Face it…you lost..we won…and now yet again, a Democrat is cleaning up after another Republican’s voodoo economics.

Jan 10, 2014 9:39am EST  --  Report as abuse
gcf1965 wrote:

100% of the 87,000 private sector jobs created were in low wage sectors: Retail +55K; Admin/waste +31K; Leisure +9. HIGH WAGE DOWN 8K!

Jan 10, 2014 9:58am EST  --  Report as abuse
divinargant wrote:

I am not surprised in the very least at these dismal numbers particularly labor force participation, diminishing wage growth, and just the overall sickly state of the labor market which was broken some years back and has really never recovered in real terms. Another constant in the press seems to be pointing out the weather as being cause factor as the headline of this article suggests. Weather is always a factor in everything or at the very least considered and yet analysts and the press largely discounted the weather in their projections for this print and were holding tight to forecasting over 200,000 jobs added for Dec. Now that that has fallen well under expectations, the old reliable trump card of an excuse is being played as the headline for this article points out. The reality is that the labor market is still broken and in real terms has never recovered from the financial crisis and was on its way to becoming broken before that fatal time. That was just the death blow. As long as central planning/central bankers continue to meddle and intervene in the economy, this will drag out indefinitely or at least until a segment of the population dies off.

Jan 10, 2014 10:09am EST  --  Report as abuse

Well obviously not a good report, but it had its silver linings, for example the +26,000 for November (btw so much for the rightie/Obama hater ‘theory’ that they always revise the number of job gain lower later). But I can see the weather as being a factor, also looks like many of the unemployed either just took off the holidays from applying for jobs(you do not get counted as unemployed unless actually applying for jobs and collecting benefits) or just plain gave up early knowing their benefits would run out at end of month, this probably accounted for much of the drop in participation rate. As I always have said, one can not just look at one month and draw conclusions from that, good or bad, one must look at the bigger picture over time.

@divinargent to quote you ‘The reality is that the labor market is still broken and in real terms has never recovered from the financial crisis and was on its way to becoming broken before that fatal time. That was just the death blow. As long as central planning/central bankers continue to meddle and intervene in the economy, this will drag out indefinitely or at least until a segment of the population dies off.’ I agree with the first sentence, the labor market was brokent by 20-30 years of trickle down economics and catering to the rich/corporations (‘job creators’ in rightie lexicon) blew the income inequality out of the water and making it harder for smaller businesses to compete. But I totally disagree with 2nd part, as I said the catering to the rich/corporations caused all this, so we do need some sort of central planning (increased min. wage and TRULY progressive tax system are two examples) to combat the natural tendency of capitalism to concentrate wealth in small #’s.

Jan 10, 2014 10:33am EST  --  Report as abuse
Crash866 wrote:

The weather…so very predictable…the excuse …not the forecast…tick tock…

Jan 10, 2014 11:39am EST  --  Report as abuse
Crash866 wrote:

Hey Alkaline
Knock Knock…who’s there…reality…and it’s a bitch…
you look like a silly lemming now…don’t you…

Jan 10, 2014 11:41am EST  --  Report as abuse
Crash866 wrote:

YRaj wrote

Face it…you won…we ALL lose…and now yet again, another Democrat will have to cleaned up after by a Republican’s voodoo economics.

See how that works…

Jan 10, 2014 11:46am EST  --  Report as abuse
TOTL wrote:

Unemployment benefits (or their extension) do nothing, NOTHING, to improve the job situation in this country. They merely ensure a low standard of living. Here’s what’s sad, there are tens of thousands of jobs available that employers can’t fill because of a lack of skilled workers. Yet, there is no effort to tie unemployment benefits with skill development. I know, I was unemployed for 5 months last year, and all I had to do get unemployment was say that I looked for a job. People sit home watching Springer, looking for the job they used to do, and all the while there are good paying positions out there just looking for the right skill set. Industries have no obligation to create the job that matches your experience. I’m sorry you can no longer do what you did before. Look for the opportunities, get off your butt and learn the skills you need to get one of the jobs that are out there.

Jan 10, 2014 11:55am EST  --  Report as abuse
JustMyViews wrote:

Except for this short cold spell in “January”, the weather has not been all that cold that it should have had an impact on jobs in December.

Jan 10, 2014 12:22pm EST  --  Report as abuse
ineeditbad wrote:

“”The Fed will see through it as a weather issue,” said John Canally, an economist at LPL Financial in Boston. “I don’t think they will change after one month of anything bad or good – so they are going to stay the course.”

And our Gov continues to BS Everyone…

Jan 10, 2014 12:22pm EST  --  Report as abuse
tchr58 wrote:

Bunch of lying … wonder when they are going to stop trying to manipulate the economy by telling us it’s much better than it obviously is. No fellas, we can see. We do not believe you anymore.

Jan 10, 2014 12:24pm EST  --  Report as abuse
tchr58 wrote:

Bunch of lying …. when are they going to stop trying to manipulate the economy by lying to the people. No. We can see. We do not believe that the government is telling us the truth anymore, obviously.

Jan 10, 2014 12:27pm EST  --  Report as abuse

@TOTL you are correct there are many jobs open that are not getting filled due to lack of skills, that is why the Jobs bill Obama proposed in 2011 had a large job training component and why he has been pushing for more subsidized vocational training and/or education. But guess what, the GOP has blocked nearly every idea.

Jan 10, 2014 12:27pm EST  --  Report as abuse
tchr58 wrote:

One thing is very clear. Nobody believes the government is telling the truth. That is a much bigger problem than unemployment.

Jan 10, 2014 12:29pm EST  --  Report as abuse

Here is a quote from a Reuters editoral on this report…

‘Once you take into account the weather, however, the December report wasn’t that bad. A whopping 273,000 people were counted as “Employed – Nonagriculture industries, Bad weather, With a job not at work”, which is to say that they did not get counted in the payrolls figures even though they’re employed. Most of the time, that number is in the 25,000 to 50,000 range, and although it always spikes in the winter, this was the worst December for weather-related absence from work since 1977.’

So lets say that number was in the normal 25-50K range, lets use 50K. so 273K-50K=223K + 74K jobs created from this report, would come up with 297K as what the jobs gained would be if not for the record (for December) no of people that had jobs but could not get to them. So not that bad after all. Big Picture people, got to look at all the data.

Jan 10, 2014 12:33pm EST  --  Report as abuse
ineeditbad wrote:

TOTL wrote:
He/She Must Be Employed…How lucky…Yeah it’s so FUN to watch TV at home all day…Wait a minute, I cancelled my Cable about a year ago because the cost was ridiculous…I am a Professional and my wages have been CUT by H1B Visa competition and the fact that people NEED jobs in this country and so the Wages go Down…Employers work people to Death by using Salary as the pay “standard” and I work an average of 65 Hours/week, just to keep my job…Which I just lost 3 weeks ago Happy New Year…

Jan 10, 2014 12:36pm EST  --  Report as abuse
ineeditbad wrote:

TOTL wrote:
He/She Must Be Employed…How lucky…Yeah it’s so FUN to watch TV at home all day…Wait a minute, I cancelled my Cable about a year ago because the cost was ridiculous…I am a Professional and my wages have been CUT by H1B Visa competition and the fact that people NEED jobs in this country and so the Wages go Down…Employers work people to Death by using Salary as the pay “standard” and I work an average of 65 Hours/week, just to keep my job…Which I just lost 3 weeks ago Happy New Year…

Jan 10, 2014 12:36pm EST  --  Report as abuse
ineeditbad wrote:

TOTL wrote:
He/She Must Be Employed…How lucky…Yeah it’s so FUN to watch TV at home all day…Wait a minute, I cancelled my Cable about a year ago because the cost was ridiculous…I am a Professional and my wages have been CUT by H1B Visa competition and the fact that people NEED jobs in this country and so the Wages go Down…Employers work people to Death by using Salary as the pay “standard” and I work an average of 65 Hours/week, just to keep my job…Which I just lost 3 weeks ago Happy New Year…

Jan 10, 2014 12:36pm EST  --  Report as abuse
ineeditbad wrote:

TOTL wrote:
He/She Must Be Employed…How lucky…Yeah it’s so FUN to watch TV at home all day…Wait a minute, I cancelled my Cable about a year ago because the cost was ridiculous…I am a Professional and my wages have been CUT by H1B Visa competition and the fact that people NEED jobs in this country and so the Wages go Down…Employers work people to Death by using Salary as the pay “standard” and I work an average of 65 Hours/week, just to keep my job…Which I just lost 3 weeks ago Happy New Year…

Jan 10, 2014 12:36pm EST  --  Report as abuse
Crash866 wrote:

How did the bad weather in JANUARY cause bad job numbers in DECEMBER…it’s beyond silly now…

Jan 10, 2014 12:52pm EST  --  Report as abuse
Crash866 wrote:

BUSH & The GOP

Jan 10, 2014 12:53pm EST  --  Report as abuse

tchr58, you may not believe it because you do not wish to live in reality, just because the data does not support your ideological view point, does not mean the data is bad, more then likely it means your ideological view does not fit with the real world.

I am so sick of this lack of intellectual discourse from the right, they simply dismiss data/facts what does not fit their ideology as lies or the such(the whole ‘main stream liberal media’ thing). Instead of looking at the real reason why things are the way they are.

Jan 10, 2014 1:01pm EST  --  Report as abuse

Sounds like more of the same old “jobless recovery” in which the idle rich continue to see their fortunes grow while the lower classes make (and spend) less. Meanwhile, wages for those who are still fortunate enough to be working are rising at only about 10% of the rate of inflation. The unsustainability of this ought to be obvious to anyone with two brain cells to rub together. Since what’s left of the “consumer” market is only siphoning money off to China, the only way left to keep things going for a while is to give Wall Street one last hit from the bong by ripping off Social Security under the guise of “fixing” it.

Jan 10, 2014 1:16pm EST  --  Report as abuse

@Crash866, well here in the PNW we had the coldest weather in 10 years first couple weeks in December, in such a large country the weather can vary greatly, may have been ok where you were in Dec, but that does not mean it was everywhere. Like I said in last post, lack of intellectual discourse.

the key is that the number of ‘Employed – Nonagriculture industries, Bad weather, With a job not at work’ was 273K a record for the month of December.

Jan 10, 2014 1:20pm EST  --  Report as abuse
gcf1965 wrote:

In December, 347,000 people dropped out of the workforce. That pushed the participation rate, which is the percentage of the population in the labor force, down to 62.8%. That’s the lowest it’s been since early 1978.

Barry will not stand by and let some lowly peanut farmer keep this record for worst jobs leader.

Jan 10, 2014 1:37pm EST  --  Report as abuse
sjfella wrote:

So now this inept administration blames the weather for their failures. I’ve never seen so much ridiculous finger pointing in all my many years as I have since the Chief Clown took office.

Jan 10, 2014 2:09pm EST  --  Report as abuse

@gcf1965, you are so transparent it is laughable, you will not look at big picture you will only focus on the data that supports your ideology of Obama is bad. As an example look at your comments early in this thread, obviously you were posting before the report actually came out and people thought it would be much more positive, as you where doing the normal, Obama is fudging the figures thing. Then when the actual report comes out all of a sudden it is completely legit, just because it not all that positive. Laughable, what would be even more laughable is ANYONE taking you seriously.

Sure the labor participation rate is low, but a person with intellectual curiosity would wonder why, which of course you will not do, because you why is ‘Obama is bad’.

Jan 10, 2014 2:12pm EST  --  Report as abuse
sjfella wrote:

So now this inept administration blames the weather for their failures? I’ve never seen so much ridiculous finger pointing in my entire life as I have since Clown Obama took office.

Jan 10, 2014 2:12pm EST  --  Report as abuse

@sjfella, The Administration said nothing about the weather, the BLS is not part of the Obama Administration. It is a bureaucracy with no political affiliation. The fact that a record number of 273K for December (when it is normally 25-50K) for people who are ‘Employed – Nonagriculture industries, Bad weather, With a job not at work’ shows that weather was a major factor.

Like I said previously, lack of intellectual discourse.

Jan 10, 2014 2:30pm EST  --  Report as abuse
gcf1965 wrote:

US, I am afraid that it is you no one is taking serious. First, look at time stamps, my first comment was posted a few minutes after 9, well after the report. The intent was to show that no matter how dismal the underlying reality, the single most quoted number has fallen significantly with the details of why buried. Most people will never care to know why, just take it and run saying how great obama is. Further, you have shown that no matter how bad things get, you always have an excuse or twist to reality and you provide data that intentionally distorts the big picture. One need only look at the conversation across the country today to see that this is some seriously bad crap. I suppose there is no amount of brutal reality or truth that can open your eyes to what obama and the liberal policies are and have done to the country. You will forever spend the bulk of your efforts making excuses and trying to make this turd look good.

Jan 10, 2014 2:35pm EST  --  Report as abuse
gcf1965 wrote:

Careful sjfella, you are going to incur the wrath of the mighty excuse maker USAPrag

Jan 10, 2014 2:36pm EST  --  Report as abuse
Crash866 wrote:

USAPragmatist2
Where I am at?…Chicago…just guess that the weather was WORSE in CHICAGO in December than the PNW…check the weather records… worst start to Winter here in DECADES…keep spinning lemming…also the weather in the PNW & Chicago effected hiring NATIONWIDE? Talk about intellectual discourse and a disconnect!!

Jan 10, 2014 3:07pm EST  --  Report as abuse
Crash866 wrote:

It’s bad…let’s all agree on that

Jan 10, 2014 3:07pm EST  --  Report as abuse

LOL@crash866, you where saying earlier that the weather was not bad in December so how can it be the cause, now you are saying the winter is the worst in decades. I repeat myself, intellectual discourse. Also if you thought I was saying that the number of those that could not make it to work was high in December because of the cold here in the PNW, you are mistaken, I was simply pointing out that the weather can be varied across such a large nation.

Jan 10, 2014 3:14pm EST  --  Report as abuse

@gcf1965, I see you failed to intelligently answer my question as to why the participation rate is so low, in fact you did not even attempt to explain why.

You say ‘Most people will never care to know why, just take it and run saying how great obama is.’ Well you are no different then those people, except you do not care to know why, you just take it and run and say how bad Obama is. And the type of person you mentioned is not interested in intellectual discourse either.

Jan 10, 2014 3:18pm EST  --  Report as abuse
TheNewWorld wrote:

“Nonfarm payrolls rose only 74,000 in December, the smallest increase since January 2011 and well short of the 200,000 jobs or so that most economists had expected.

While the unemployment rate fell 0.3 percentage point to 6.7 percent, its lowest level since October 2008, the decline mostly reflected people leaving the labor force.”

I guess that is the new progressive way to get the unemployment rate down. Tell people they no longer need to work.

Jan 10, 2014 3:27pm EST  --  Report as abuse
gcf1965 wrote:

“Weather is clearly playing a role and you don’t want to overreact to any one number,” said Julia Coronado, chief United States economist at BNP Paribas.

She estimated that cold temperatures and snow subtracted about 75,000 jobs from the overall total for job creation in December.

“What it does say is that we’re not in takeoff mode in the labor market,” Ms. Coronado added. “It’s not so much weakness in hiring as lack of vitality. We’re treading water.”

I still do not put much credibility in the cold weather prevents jobs line, but giving benefit of the doubt, we are still in a heap of trouble.

Jan 10, 2014 3:33pm EST  --  Report as abuse

@theNewWorld, Actually the GOP may be responsible for decreasing the unemployment rate more then any of this, if they do not pass an extension of unemployment benefits it will go even lower next month. Only due to those whose benefits expire leaving the workforce.

And the Progressive viewpoint is NOT that people no longer need to work, it is that they deserve a fair living wage when they do work.

Jan 10, 2014 3:36pm EST  --  Report as abuse
sjfella wrote:

@gcf1965,
Not to worry, I quit reading the yammering of that idiot long ago.

Jan 10, 2014 3:57pm EST  --  Report as abuse
Whatsgoingon wrote:

“In a sign of growing confidence in the economy’s prospects, the Fed announced in December that it would trim its monthly bond purchases to $75 billion from $85 billion, and many economists expect it to decide on a further, similar-sized cut at its next meeting on January 28-29.”

Now Yellen can go back to the $85B/mon schedule – what a smooth transition!

Jan 10, 2014 4:21pm EST  --  Report as abuse

@gcf1965, we have been in a heap of trouble since Reagan started the whole ‘trickle down’ BS, it just took 20-30 years to reach a critical mass in 2008, well 8 yrs of turbo charged ‘trickle down’ associated with basic incompetence/unwillingness to keep on eye on Wall Street by the Bush 2 admin helped to bring it to critical mass. It is not going to be fixed in 5-6 years, but ‘treading water’ is far better then losing 750K jobs a month like was occurring the month before Obama took over.

@sjfella when you cant argue with facts you either ignore or insult the opposing party, I get it. I have fallen into that easy trap myself before, but then my intellectual curiosity catches up to me and I do my research and look stuff up. Like any human characteristic, some of us have more or less intellectual curiosity then others.

Jan 10, 2014 4:23pm EST  --  Report as abuse
Crash866 wrote:

USAPragmatist2
Read my post. I said it was the one of the worst December’s in decades. What did say was how did the bad weather in January, which was far worse than December, effect Decembers jobs numbers. Also this about HIRING and new job and not about bad weather keeping people from getting to. Those are 2 totally different things.

Lastly these numbers suck so own it instead of trying to deflect and spin.

What is sad is that the “BAD” weather is the excuse being used for the current administration’s bad job’s policies and ability to help create decent jobs. I know…”it’s better than Bush”…keep spinning and throwing mud that will prove your point and solve it.

Jan 10, 2014 4:23pm EST  --  Report as abuse
Crash866 wrote:

You voted…twice…

Jan 10, 2014 4:23pm EST  --  Report as abuse
Crash866 wrote:

USAprag

“I am so sick of this lack of intellectual discourse from the right, they simply dismiss data/facts what does not fit their ideology as lies or the such(the whole ‘main stream liberal media’ thing). Instead of looking at the real reason why things are the way they are.”

Yeah like these numbers suck?!?! Those FACTS?

Jan 10, 2014 4:25pm EST  --  Report as abuse
gcf1965 wrote:

Look at the numbers, or charts if you prefer pictures, the decline in the economimc picture began happening in mid 2007, now if we could just pinpoint an event that might be responsible for this sudden downturn, thinking, thinking….oh, wasn’t there an election just before this where a party came into legislative power? And wasn’t the housing crash largely due to liberal policy mandating lenders provide loans to people who could never repay them because it just wasn’t “fair” to make loans based on credit worthiness? You can point at Reagan all you want, but the truth is, trickle down does work for those who are motivated. Trickle down is about providing opportunity, not handouts and dependency. During the first 6 years of GW, the nation was doing pretty well, even with the high cost of war. GW made plenty of mistakes, but I am confident that he had the best interest of the nation at heart, unlike the current admin, who has only theeir own best interests of power and influence in mind.

Jan 10, 2014 4:33pm EST  --  Report as abuse

So much for basing an employment forecast and economy on faked / deceptive unemployment claims figures. A week ago, they were claiming jobs GROWTH at something in excess of 240,000 jobs through December. You cannot rely upon an estimate which is based upon a negative to actually arrive at a positive. It’s one giant graveyard spiral, to borrow a term from aviation.

It’s wishful thinking and manipulation on the part of those who profit from playing the stock market, most especially those in politics. It’s become nothing more than a giant game of Monopoly, except real lives are what is at stake and being ruined or wasted to make investors out to be supposed winners. The whole thing will come home to roost soon enough – the culmination of at least 4 years of number-fixing.

Jan 10, 2014 5:14pm EST  --  Report as abuse

Did cold weather actually have much to do with employment figures in December? Doubtful, seeing as how the truly cold weather occurred in January, the so-called Polar Vortex. At this time last month, well before the icy weather made itself evident, employment figures for November were already looking rather unpromising, with or without seasonal adjustments.

This is very much like the story of how the operation is going phenomenally well, despite the fact the patient died shortly after it began. In fact, it looks like the operation will exceed all expectations, then the patient will be buried right after closing up. The hospital, doctor, and various suppliers and providers stand to make a fortune from the insurance company as a result.

Jan 10, 2014 5:30pm EST  --  Report as abuse

@gcf1965, your last post shows just how totally detached from reality you are. Consider the fact that the vast majority of economists totally disagree with your assessment for the cause of the financial crash.
http://lmgtfy.com/?q=what+caused+the+financial+crash+of+2008

Jan 10, 2014 6:08pm EST  --  Report as abuse

To add to my last post (was in hurry), if you refuse/can not accept the cause of the current economic malaise, then how would one accept what you solutions are?

Jan 10, 2014 7:35pm EST  --  Report as abuse
OneOfTheSheep wrote:

I find it hard to believe that so many commenting don’t know that the annual and predictable cold weather in winter and increase in temporary employment over the holidays is already factored into most monthly statistics. These are “seasonally adjusted” so that “apples and oranges” are not compared.

“The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, fell 0.2 percentage point to 62.8 percent, returning to the more than 35-year low hit in October.” Leaders and planners worldwide refuse to accept the reality these facts reveal. Denial is, however, only a temporary refuge. Open your minds and think along with me for a bit.

History is full of social convulsions, more recently the sequential economic sea changes initiated by the industrial revolution, and later, as horse-drawn transportation and equipment were obsoleted by machines powered by steam or fossil-fuels. The “trickle-down” effect of efficiencies made possible by the increasing availability of powerful “personal” computers and capable software at low price has been slowly re-shaping American society more and more beginning in the eighties.

“Just in time” production and delivery has obsoleted countless warehouses and trucking terminals, management and supervisory personnel and countless clerks. These were all “good paying jobs” that, for many, were their ticket into America’s middle-class.

Countless more draftsmen, designers, Girls Friday, secretaries, administrative assistants, and members of lower and middle management positions have disappeared. The great majority didn’t go “offshore”. They are just GONE, forever.

In a world of SEVEN BILLION humans (with many more “buns in the oven”), over most of the world fewer and fewer people are needed to do what society needs done (that it can afford). The single (and perhaps most frightening) exception is the continuing expansion in size and expense of government at all levels, mostly unionized.

“Economists” who rely on past events repeating in some manner or cycle are utterly clueless before the future now here as would be a weatherman as a new Ice Age begins. COindependent hits the nail on the head in pointing out that “…extending unemployment benefits, more entitlements, or more people on food stamps…are merely mechanisms to redistribute the income of those already working (and paying taxes). These not only do not increase GNP, but dilute the alternate “natural” economic incentives that WOULD.

America is extremely unlikely to ever again see 300,000-400,000 new jobs every month for even one year. Even with more and more people, fewer and fewer jobs mean that the children of today’s workers may not have a productive place in their own society. Such economic dead-enders will not be “consumers” in the previous sense, leaving the only path to a 3%-4% growth intentional government-induced inflation; an illusion at best.

The difference between good and bad news may well soon be relative. With polar bears to the north and fish east and west, America and Canada need only an impermeable border to the south to remain relatively isolated from an unprecedented period of social and economic Darwinism now inevitable due to locally uncontrolled and unsustainable birth rates.

If history tells us anything, it is that when leaders of men sufficiently abdicate fundamental responsibilities for long enough, the absolute laws of sustainability are returned to their natural balance by some combination of starvation, disease and warfare. We live in interesting times.

Jan 10, 2014 10:39pm EST  --  Report as abuse
lottopol wrote:

Unlike food stamp and welfare recipients, many unemployment compensation recipients (all of which previously held jobs) are Republicans. If the news media shows one person saying: that he had always voted Republican but if the House leadership does not allow a vote on extension of unemployment benefits he will never vote for a Republican again, the Republicans will cave, as 1.3 million voters could be a critical in the next election.

The joke used to be that a conservative is a liberal who has been mugged. The new version will be a Democrat is a Republican who had his unemployment benefits ended.

“..It is not just a coincidence that tax cuts for the rich have preceded both the 1929 and 2007 depressions. The Revenue acts of 1926 and 1928 worked exactly as the Republican Congresses that pushed them through promised. The dramatic reductions in taxes on the upper income brackets and estates of the wealthy did indeed result in increased savings and investment. However, overinvestment (by 1929 there were over 600 automobile manufacturing companies in the USA) caused the depression that made the rich, and most everyone else, ultimately much poorer.

Since 1969 there has been a tremendous shift in the tax burdens away from the rich and onto the middle class. Corporate income tax receipts, whose incidence falls entirely on the owners of corporations, were 4% of GDP then and are now less than 1%. During that same period, payroll tax rates as percent of GDP have increased dramatically. The overinvestment problem caused by the reduction in taxes on the wealthy is exacerbated by the increased tax burden on the middle class. While overinvestment creates more factories, housing and shopping centers; higher payroll taxes reduces the purchasing power of middle-class consumers….”
http://seekingalpha.com/article/1543642

Jan 10, 2014 11:32pm EST  --  Report as abuse
themutedtwo wrote:

Reuters conveniently leaves some numbers out:

The total “jobs gap”—the number of jobs needed to return the U.S. economy to pre-recession health—is 7.9 million jobs (3.6 million for women and 4.3 million for men).

At 200,000 jobs per month, pre-recession labor market conditions would not be regained for another five years. To regain pre-recession labor market conditions in two years, we would need to add 400,000 jobs per month.

Weak demand for workers is broad-based; job seekers dramatically outnumber job openings in every industry, and unemployment is significantly higher at every education level than in 2007.

For more: http://www.epi.org/publication/years-beginning-great-recessions-shadow/

Jan 11, 2014 3:50am EST  --  Report as abuse
agular17 wrote:

Here are your numbers for January 2015
Inflation 1.4%
GDP 1.65%
Labor Participation 61.8%,people leaving the labor force
Unemployment – This has become a meaningless number
Hourly rarning +1.88%
Work Week slips to 33.1
hospitality payrolls flat
Transportation flat

Construction will fall
Government employment falls, private sector has all growth
Retail is flat
Healthcare workers will fall
Stock Market will be at all time highs
Professional, small rise
Information professional small rise, mostly security area
yields on benchmark Treasury debt continue downward
nonfarm payrolls will move around 140,000 to 160,000

Call me when you get tied of chasing your tail, this is not really that hard to understand.

Jan 12, 2014 11:54pm EST  --  Report as abuse
agular17 wrote:

Here are your numbers for January 2015
Inflation 1.4%
GDP 1.65%
Labor Participation 61.8%,people leaving the labor force
Unemployment – This has become a meaningless number
Hourly rarning +1.88%
Work Week slips to 33.1
hospitality payrolls flat
Transportation flat

Construction will fall
Government employment falls, private sector has all growth
Retail is flat
Healthcare workers will fall
Stock Market will be at all time highs
Professional, small rise
Information professional small rise, mostly security area
yields on benchmark Treasury debt continue downward
nonfarm payrolls will move around 140,000 to 160,000

Call me when you get tied of chasing your tail, this is not really that hard to understand.

Jan 12, 2014 11:54pm EST  --  Report as abuse
agular17 wrote:

Here are your numbers for January 2015
Inflation 1.4%
GDP 1.65%
Labor Participation 61.8%,people leaving the labor force
Unemployment – This has become a meaningless number
Hourly rarning +1.88%
Work Week slips to 33.1
hospitality payrolls flat
Transportation flat

Construction will fall
Government employment falls, private sector has all growth
Retail is flat
Healthcare workers will fall
Stock Market will be at all time highs
Professional, small rise
Information professional small rise, mostly security area
yields on benchmark Treasury debt continue downward
nonfarm payrolls will move around 140,000 to 160,000

Call me when you get tied of chasing your tail, this is not really that hard to understand.

Jan 12, 2014 11:54pm EST  --  Report as abuse
agular17 wrote:

Here are your numbers for January 2015
Inflation 1.4%
GDP 1.65%
Labor Participation 61.8%,people leaving the labor force
Unemployment – This has become a meaningless number
Hourly rarning +1.88%
Work Week slips to 33.1
hospitality payrolls flat
Transportation flat

Construction will fall
Government employment falls, private sector has all growth
Retail is flat
Healthcare workers will fall
Stock Market will be at all time highs
Professional, small rise
Information professional small rise, mostly security area
yields on benchmark Treasury debt continue downward
nonfarm payrolls will move around 140,000 to 160,000

Call me when you get tied of chasing your tail, this is not really that hard to understand.

Jan 12, 2014 11:55pm EST  --  Report as abuse
agular17 wrote:

Here are your numbers for January 2015
Inflation 1.4%
GDP 1.65%
Labor Participation 61.8%,people leaving the labor force
Unemployment – This has become a meaningless number
Hourly rarning +1.88%
Work Week slips to 33.1
hospitality payrolls flat
Transportation flat

Construction will fall
Government employment falls, private sector has all growth
Retail is flat
Healthcare workers will fall
Stock Market will be at all time highs
Professional, small rise
Information professional small rise, mostly security area
yields on benchmark Treasury debt continue downward
nonfarm payrolls will move around 140,000 to 160,000

Call me when you get tied of chasing your tail, this is not really that hard to understand.

Jan 12, 2014 11:55pm EST  --  Report as abuse
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