{"id":24266,"date":"2014-11-08T19:15:59","date_gmt":"2014-11-09T00:15:59","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=24266"},"modified":"2014-11-08T19:15:59","modified_gmt":"2014-11-09T00:15:59","slug":"some-good-news-and-bad-news-in-the-october-employment-numbers","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=24266","title":{"rendered":"Some Good News and Bad News In The October Employment Numbers"},"content":{"rendered":"

Yesterday Investors.com posted an article about the employment numbers released by the Bureau of Labor Statistics<\/a> on Friday.<\/p>\n

The jobless rate is 5.8%, the lowest since June 2008. However, the Labor Force Participation Rate<\/a> (the percentage of Americans<\/a> of working age<\/a> who are working) is at 62.8 percent, essentially flat since April according to the Bureau of Labor Statistics website<\/a>.<\/p>\n

Despite these relatively good numbers, consumer confidence is still low, Part of the reason for that is what has happened to Middle Income<\/a> family income since 2007.<\/p>\n

The article at Investors.com reports:<\/p>\n

Real median household incomes fell 6.6% from $55,627 in 2007 to $51,939 at the end of last year. It will take years to recoup that loss. Meanwhile, male workers’ incomes have been in a tailspin for over a decade.<\/strong><\/p>\n

Private-sector wages grew 2% from last year in October \u2014 just barely ahead of the 1.7% rise in inflation.<\/strong><\/p>\n

So lack of opportunity stemming from 2% GDP growth<\/a> and slow-growing family incomes have put average Americans in a sour mood.<\/strong><\/p>\n

The article at Investors.com further reports:<\/p>\n

It’s policy failure. We and others repeatedly warned that President Obama’s<\/a> massive stimulus, cheap money and heavy-handed regulation were a recipe for stagnation. That’s exactly what happened.<\/strong><\/p>\n

Each era of big government tinkering ends with the the economy being systematically run into the ground by Keynesian<\/a> policymakers \u2014 and with economists pondering whether it’ll always be this way.<\/strong><\/p>\n

“Are you better off today than you were four years ago?” President Reagan<\/a> famously asked in the 1980 campaign. Today, Americans seem to be saying no.<\/strong><\/p>\n

I hope the new Republican Congress will have the courage to encourage the President (strongly) to change direction.<\/p>\n

<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

Yesterday Investors.com posted an article about the employment numbers released by the Bureau of Labor Statistics on Friday. The jobless rate is 5.8%, the lowest since June 2008. However, the Labor Force Participation Rate (the percentage of Americans of working … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[6157,401,6251,506,7245,8363,285],"class_list":["post-24266","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-american-middle-class","tag-economic-growth","tag-great-recession","tag-gross-domestic-product","tag-health-and-human-services","tag-keynesian-economics","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24266"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24266\/revisions"}],"predecessor-version":[{"id":24267,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24266\/revisions\/24267"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}