Real Work Force – 11/30/13

The FedGov released its unemployment propaganda for November 2013 showing a 0.2% drop in the unemployment rate.

Politico trumpeted that the Unemployment Rate had hit a 5-year low!

MJ Lee noted, “The economy added 203,000 jobs in November while the unemployment rate dropped to 7 percent, the Labor Department reported on Friday. The last time that the unemployment rate stood below 7 percent was in November 2008.”

The Wall Street Journal found come caveats:

But here’s the bad news: the increase in the number of people in the labor force didn’t make up all the ground lost by the huge drop in October. Even though 455,000 people were added to those working or looking for a job, the labor force is still 265,000 people short of where it was in September.

The participation rate, the labor force as a percent of the whole population, rose to 63% in November but is still down from 63.2% in October. That rate remains at its lowest level since 1978 when large numbers of women were entering the work force for the first time.

Despite this month’s improvement, there’s still a big hole in the jobs market More than four million people have been out of work for more than six months and nearly 11 million in total are looking for work.

FedGov calculations still don’t really show the true picture of employment in America.  They don’t answer this question:

Ignoring all demographics, who is in the wagon versus who is pulling the wagon?

How many people are working as a percent of all the people in the United States?  Here’s the trend…

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That’s a nice uptick although one can certainly expect a revision at the end of 2013.

At the end of Clinton’s administration, over 50% of the population in America were in the labor force!  That number stayed mostly the same and then increased through through the early parts of 2007.  That percentage has decreased since the beginning of 2007 and is now down by fully 2%.  You’re welcome to comment below as to what happened in early 2007 to turn the trend around.

In today’s numbers, that’s a reduction of almost 6,000,000 jobs.

Below is the percentage of change from month-to-month

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Labor Force Data from bls.gov:

Population Estimate from census.gov

Things won’t get better in this country until millions more people are pulling the wagon!

 

The Boeing Bribe

According to Wikipedia, “a tax credit is a sum deducted from the total amount a taxpayer owes to the state. A tax credit may be granted for various types of taxes, such as an income tax, property tax, or VAT. It may be granted in recognition of taxes already paid, as a subsidy, or to encourage investment or other behaviors.”

With the enactment of SB1 in Missouri, when Boeing shows a profit and there are $150,000,000 in taxes due for 2014, then Boeing will pay NO taxes.  I repeat; Boeing will pay no taxes.  However, if McDonald’s shows a profit and there are $150,000,000 in taxes due, then McDonald’s will pay $150,000,000 in taxes.

When a corporation shows a profit, a portion of that profit is collected in taxes and is the property of Missouri’s citizens. Boeing is being handed $150,000,000 of Missourians’ tax dollars.  How is this not corporate welfare?

This is the epitome of picking winners and losers
This is 100% anti-free-market
This is 100% anti-capitalism
This is 100% crony-capitalism.
This is 100% corporate welfare… ..giving property of Missouri taxpayers to a specific corporation.

So, the legislators that approved SB1 voted for picking winners and losers, anti-free-market, anti-capitalism and crony-capitalism legislation.  Is this why you sent them to Jefferson City?

But, what’s worse is that our Governor and General Assembly spent nearly $100,000 proving that they have created an anti-business climate in Missouri.  That’s the real travesty of this Special Session; Missouri is so anti-business, they have to bribe companies to come here.

Stunningly disappointed.

It’s only a 3-page bill, so take the time to read it.  The reasons for the emergency clause seem to be completely at odds with reality.  Add a couple of clauses related to affirmative action and everyone… …but the taxpayer… …is happy.