How come you never see this type of analysis on CNBC or any other MSM propaganda channels? Mike Shedlock and the other alternative media truth tellers are where you can obtain fact based analysis, not the corporate MSM storylines designed to keep the sheep sedated.
FACT: There are 14 million more working age Americans than their were in 2007.
FACT: There are 2 million less Americans employed than there were in 2007.
FACT: There are 5 million less Americans employed full-time than there were in 2007.
FACT: Even though the number of working age Americans is 14 million higher, the BLS drones report that the labor force has only expanded by 2.7 million. This is a laughable ridiculous assumption on their part driven by political necessities of the Obama administration. The reported 7.6% unemployment rate is a fraudulent number. The true U3 rate is north of 10% and the real unemployment rate calculated the way it was calculated during the Great Depression is north of 20%.
FACT: Obamacare is destroying jobs and will destroy millions more before it is done. The delay in implementation is designed to keep Democrats from being wiped out in the 2014 mid-term elections. If the Democarats love this law, why are they so scared of implementing it on time?
Trends in Full and Part-Time Employment; Obamacare Job Double Counting and Other Economic Distortions
click on any chart for sharper image
Snapshot 2007 vs. 2013
Snapshot vs. Prior Year
|Year||Employment vs. Prior Year||Full-Time vs. Prior Year||Part-Time vs. Prior Year|
By this comparison only 2012 looks anything close to a normal recovery year. Some of the jump in 2012 is due to revisions from 2010 and 2011 that were not as bad as originally reported.
In the last year, the economy gained 1.316 million full-time jobs, about 110,000 a month. Overall jobs rose by 1.639 million, about 137,000 a month, a number just above what it should take to hold the unemployment rate flat.
Month-over-month distortions abound. As noted on Friday, Part-Time Jobs Increased by 486,000 with 326,000 Full-Time Jobs
Wallace charts show non-adjusted numbers vs. the same month in prior years, and that is a valid statistical comparison.
Obamacare Job Double Counting
Since this is happening en masse, I expect downward revisions in the future over Obamacare Double Counting.
- October 10, 2012: Prepping for Obamacare, Olive Garden and Red Lobster Cut Workers’ Hours; Are Other Companies Doing the same?
- October 20, 2012: Mish Obamacare Mailbag: Expect More Part-Time Jobs
- February 02, 2013: Obamacare in Action: Retail Workweek Hits 3-Year Low
- February 19, 2013: Opting Out of Obamacare (the Unaffordable Health Care Act); Not Even Labor Unions Want It
- May 3, 2013: Obamacare Affects Part-Time Employment Yet Again; Nullification Bill Passes South Carolina House; Analysis of Healthcare Penalty Rates
- May 20, 2013: Obamacare Premiums 47% Higher But Deductibles 27% Lower Than Grandfathered Health Plans; Obamacare Lies
- June 21, 2013: Obamacare Effects Hit Local Governments, Small Businesses, Temp Staffing Agencies; Chicago Dumps Retirees Into Obamacare
For more on Obamacare Economic Distortions, please peruse the above links to your heart’s content.