The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.
Showing posts with label Jobs. Show all posts
Showing posts with label Jobs. Show all posts

Monday, May 6, 2019

Trump Vs Obama Economy?

Taking a bit of a hiatus on posting on the page of late...simply busy.  

Yet, I can not resist linking to a Forbes piece regarding what some are calling the "booming" Trump economy. I have long posited my rejection of Trump's economic team and policies as the catalyst of the current US economy. Eight years of economic growth preceded Trump's days in the Oval Office. A question comes to mind.

Could the Trump economic team have taken the Bush post-subprime burst and losses of 750,000 per month and turn it around as did the Obama team? I suspect the answer is rhetorical; not with any infusion of GOP or conservative economic ideology and policies. Hardly!

The Forbes piece is linked here.

Since most won't be inclined to follow the link to Forbes, I have posted two charts from the piece as an enticement to educate oneself and understand how the Trump team are flying high on a whiff of self-serving flatulence.

U.S. employment

U.S. unemployment rate

One wrong economic decisions and the Trump economic flatulence could dissipate.


Wednesday, May 17, 2017

Ford Cutting Jobs, Trump's March Brandishing Uncredible

Big announcement by Ford today. Major investment to be made in three Michigan plants. Car companies coming back to U.S. JOBS! JOBS! JOBS!

Well, it seems Trump's trumpeting about his impact on the US economy via Jobs jobs, jobs" at Ford is no different than other Trump carnival barking.  It was good for the moment, but when faced with the reality of time Ford is no different than other US corporations.  

The automaker, is not doing well in its market niches and what goes first to maintain the P & L statements? Cost are trimmed. And, what cost employers most? Employees. When stock prices lag, people have to go!

Take a look at how WRAL addressed ford's announcement.
The 114-year-old automaker said Wednesday it is cutting 1,400 non-factory jobs in North America and Asia Pacific. The company will offer voluntary early retirement and separation packages to around 10 percent of its salaried workers in departments such as sales, marketing and human resources. It expects the actions to be complete by the end of September. 
The cuts are the biggest to Ford's U.S. white collar staff since 2007, when 7,200 workers took voluntary buyout packages.  
In an email to employees, Ford said it wants to strengthen its core business and invest aggressively in new opportunities. "Reducing costs and becoming as lean and efficient as possible also remain part of that work," the company wrote.
Trump's March 28th bluster was that an nothing more. Yet, in conservative tiems, the timing was effective enough for that "for the moment" pop conservatives so love. They are incapable of looking to the future.

Of course, any media which reports on Ford's decision and Trump's past lauding of Ford's (Jobs, jobs, jbobs) fall into that category of media which "always picks on Trump."


Friday, March 31, 2017

Introduce Robots; Talk Of Jobs

What, them worry? 

Posted: 31 March 2017

Treasury Secretary Steve Mnuchin may not be worried. Nor, it seems, are other members of the economic and political elite. But the rest of us are—or we should be.

As regular readers of this blog know (cf. all these posts), the robots are here and they’re rapidly replacing workers, thus leading to less employment, downward pressure on wages, and even more inequality.

The latest evidence comes from the work of Daron Acemoglu and Pascual Restrepo, who argue, using a model in which robots compete against human labor in the production of different tasks, that in the United States robots have reduced both employment and wages during recent decades (from 1993 to 2007). That conclusion holds even accounting for the fact that some areas of the economy may grow (thus increasing employment for some workers) when the use of robots raises productivity and reduces costs in other industries.

Even though U.S. employers have been introducing industrial robots at a pace that is less than in Europe, their use in American workplaces has in fact grown (between 1993 and 2007, the stock of robots in the United States increased fourfold, amounting to one new industrial robot for every thousand workers). And, once the direct and indirect effects are estimated, robots are responsible for up to 670,000 lost manufacturing jobs. And that number will rise, because industrial robots are expected to quadruple by 2025.

Actually, the effects have likely been even more dramatic, because Acemoglu and Restrepo take into account only three forces shaping the labor market: the displacement effect (because robots displace workers and reduce the demand for labor), the price-productivity effect (as automation lowers the costs of production in an industry, that industry expands), and the scale-productivity effect (the reduction of costs results in an expansion of total output).

What they’re missing is the effect on the value of labor power. As I explained last year, when productivity increases lower the prices of commodities workers consume, the value capitalists need to pay to get access to workers’ ability to work also goes down. As a result, even if workers’ real wages go up, the rate of exploitation can rise. Workers spend less of the day working for themselves and more for their employers. Capitalists, in other words, are able to extract more relative surplus-value.

And more surplus-value means more income for all those who share in the booty: CEOs, members of the 1 percent, and so on.

That’s why the increasing use of industrial robots, which under other circumstances we might actually celebrate, within existing economic institutions represents a disaster—not for their employers (who, like Mnuchin, are not particularly worried), but for all the workers who have been or are likely to be displaced and even those who manage to hang onto their jobs.

Workers are the ones who are going to continue to suffer from the “large and robust negative effects of robots”—unless and until they have a say in how robots and the resulting surplus are utilized.

Friday, December 2, 2016

November Jobs Report and Unemployment Rate.

As we move out of the Obama Administration, let's place a mark here with the November Jobs report and unemployment rate.

We will wager these numbers won't get any better under the Trump Administration.

Steve Benen for MSNBC wrote:
The Bureau of Labor Statistics reported this morning that the U.S. economy added 178,000 jobs in November. The unemployment rate, meanwhile, continues to improve, dropping from 4.9% to 4.6%. It’s the 14th consecutive month the rate has been at 5% or lower – and the lowest jobless rate Americans have seen since August 2007. 

As for the revisions: September’s job totals were revised up, from 191,000 to 208,000, while October’s were revised down, from 161,000 to 142,000. Combined, that’s a net loss of 2,000. 

Over the last 12 months, the overall economy has created 2.25 million new jobs, which is a pretty healthy number. And with one month remaining in 2016, the U.S. remains on track to create over 2 million new jobs this calendar year. What’s more, November was the 74th consecutive month of positive job growth, which is the longest on record.


Sunday, May 15, 2016

Unemployment Has Gone UP Under Obama? Some Believe The Hype

Take a moment to review a chart published by Steven Benen for the Rachel Maddow blog. The chart was delivered from the results of a recent Public Policy Polling (PPP) survey. The survey results show major differences in respondent perceptions of a critical aspect of the US Economy: unemployment and jobs. 

The PPP survey delineates the sad state of conservative information dissemination or conservative manipulation of large swaths of the US population.  


FOR IMMEDIATE RELEASE May 11, 2016 INTERVIEWS: Tom Jensen 919-744-6312

There continues to be a lot of misinformation about what has happened during Obama's time in office. 43% of voters think the unemployment rate has increased while Obama has been President, to only 49% who correctly recognize that it has decreased. And 32% of voters think the stock market has gone down during the Obama administration, to only 52% who correctly recognize that it has gone up. In both cases Democrats and independents are correct in their understanding of how things have changed since Obama became President, but Republicans claim by a 64/27 spread that unemployment has increased and by a 57/27 spread that the stock market has gone down. “It’s a fact that unemployment has gone down and the stock market has gone up during the Obama administration,” said Dean Debnam, President of Public Policy Polling. “But GOP voters treat these things more as issues of opinion than issues of fact.”

Q2 Do you think the unemployment rate has increased or decreased since Barack Obama became President? 
43% The unemployment rate has increased since Barack Obama became President
49% The unemployment rate has decreased since Barack Obama became President
 9% Not sure

How is it possible so may have no idea the full measure and scope of an economy that has added 15 million (rounded) jobs? Are so busy seeking television giggles and following reality TV shows or singing contest shows, we live oblivious to that which is critical to our lives?  Are survey respondents who declared as republican getting their news from outlets such as Fox News and Am radio? 

Conservative media and conservative politicians have performed as masters of deceit in salting the minds of millions with the dire state of the US. It seems, however, either more non-conservatives are paying attention to conservative media (and the GOP) or millions upon millions are busying themselves with superfluous lifestyles, we can not sit for a moment to absorb tidbits of current events and news. As bad as US media has become, there are moments of factual information dissemination if you are a non-Fox News viewer. Yet the current political season shows overwhelming evidence of nitty hammer like behavior across the political spectrum.

The PPP poll also reports survey respondent  demographics which are troubling, to put it mildly. (see survey methodology and demographic data below). 

-78% of voters nationally support increasing the minimum wage to at least $10 an hour, and 49% support going to at least $12 an hour. Only 10% think the current minimum wage
is fine, and another 10% think there should be no minimum wage at all. 95% of Democrats, 69% of independents, and 61% of Republicans support a hike at least to $10 an hour.
Q3 Do you think the stock market has gone up or down since Barack Obama became President? 
52% The stock market has gone up since Barack Obama became President
32% The stock market has gone down since Barack Obama became President
16% Not sure

 -83% of voters nationally support background checks on all gun sales, to just 12% who are opposed. There's very broad bipartisan support for that with Democrats (89/9), Republicans (79/14), and independents (78/14) all overwhelmingly in favor of it, -68% of voters support the EPA Clean Power Plan to 26% who are opposed. That includes 65/29 support from pivotal independent voters.
Q9 Do you support or oppose requiring a criminal background check of every person who wants to buy a firearm?
83% Support a criminal background check for everyone who wants to buy a firearm
12% Oppose a criminal background check for everyone who wants to buy a firearm
 Not sure
Survey methodology and demographic questions.

Public Policy Polling surveyed 1,222 registered voters from May 6th to 9th. The margin of error is +/-3.2%. 80% of participants, selected through a list based sample, responded via the phone, while 20% of respondents who did not have landlines conducted the survey over the internet through an opt-in internet panel. 

Q15 Would you describe yourself as very liberal, somewhat liberal, moderate, somewhat conservative, or very conservative?  
Very liberal..............................................  14%  
Somewhat liberal ............................................ 21%  
Moderate  ..................................................................29%  
Somewhat conservative  .................................21% 
Very conservative  .....................................15%

The bell-shaped distribution of the sociopolitical makeup of the sampling is representative of a fair application of the survey tool. 
Q16 If you are a woman, press 1. If a man, press 2. Woman 53% Man 47% . 
Again a representative sample which fairly portrays national gender demographics.  
Q17 If you are a Democrat, press 1. If a Republican, press 2. If you are an independent or identify with another party, press 3. 
Democrat 43% ........................................................  
Republican 36% ......................................................   
21% Independent / Other........................................  
Herein lies what I refer to as troubling. Only just over a third of the sampling indicates Republican. Even if we consider the prospect of a few "crafty" respondents who would declare themselves IND. knowing full-well they are Republicans, we may still find approximately one-third of the pool offering the PPP findings.
Q18 If you are Hispanic, press 1. If white, press 2. . If African-American, press 3. If other, press 4.  
Hispanic 10% ..........................................................  
White 70% ..............................................................  
African American 12% .............................................  
Other 8% 

Another fair distribution considering current US population racial breakdowns.

How is it possible so many supposed progressive or independents have a little knowledge of the state of US employment?  The answer may lie in the same cesspool that has Trump atop the GOP presidential race. Basically, people are self-dumbing themselves into a dangerous state.

While the US economy is not rolling along like a pending tsunami wave, it is a far better economy than we experienced prior to President Obama. While republicans surely have a greater information void and false beliefs regarding the unemployment figures, overall the PPL survey is disturbing. The survey may show the failings of US cable media in failing to deliver accurate and relevant information vs entertainment segments which dominate with each and every cable news show.

Even more tragic is the prospect many of the 1200 plus respondents may not follow any form of news or currents events or they are influenced by conservative media even in the case of non-conservative respondents. 


Wednesday, January 20, 2016

A GOP Politics Quick Hit. Trump, Palin, Duck Dynasty, Ted Cruz, Nikki Haley

Well our Quick Hit, turned into a GOP screed.

If you need additional proof of a nation suffering from intellectual deprivation and class starvation accompanied by an infestation of sycophancy for celebrities with constipation of the brain and diarrhea f the mouth...take heed. Trump's claims of Sarah Palin as a vice presidential running mate are nothing more than cynical barking rhetoric. Trump and his handles know Palin is a political landmine and an object for late night talk show jokes (and a gold mine for SNL skits). He would no more select Palin as a running mate as he would select the Nevada racist rancher Cliven Bundy). Yet, another example of Trumpism with your in his strategy cross hairs.

The campaign for GOP front runner Donald Trump has told the New York Times that Trump has selected former Alaska governor Sarah Palin as his running mate.…
While not a 47% moment by any means, think back to a  time when you recall a presidential candidate offer a person the "finger."

Rand Paul of an Armadillo to match his Chameleon personality and personal aura.  As I ran across the following piece from Mediaite, I will admit to a higher level of astonishment.  How crass and teen-like?


Republican presidential candidate Dr. Rand Paul has truly been having one hell of a week. He was demoted from the main stage for tonight's GOP debate on Fox

Ted Cruz garners an endorsement (after a duck hunting trip) From the nation's leading bayou bigots.  Cruz nascent endorse also has a history of espousing male concubine under- aged women. 


It's the endorsement you've been waiting for...

“I’ve looked at the candidates,” said controversial reality TV star Phil Robertson. “Ted Cruz is my man.”

Herewith is the ultimate example of GOP and conservative shallowness. The Untied States is unlike conservative perceptions of the Earth. The United States has a documented history that spans a defined and clear established time-frame. It is not an item that conservatives can ignore and disavow as they the disavow evolution.  During the GOP response to President; Obama's State of the Union Speech, South Carolina Governor, Nikki Haley, dropped a "dumb bomb." She has indicated she wrote the speech without intervention from the RNC or any conservative operatives. Well, maybe she should have avoided such a blatant confession of ownership. She showed exactly why many Americans believe conservatives are absent any wherewithal in assimilating US History as a critical foundation for our future. 

Haley clearly and in front of billions across the globe sated the following:
"When you've got immigrants who are coming here legally, we've never in the history of this country passed any laws or done anything based on race or religion. Let's not start that now," she said while speaking to reporters in South Carolina. (bold font added my The Pardu)

South Carolina Gov. Nikki Haley continues to defend her (gentle) criticism of Donald Trump in her State of the Union ...

Michigan's Republican Governor delivers a State of the Union speech with his poisoning of Flint Michigan's water (drinking, bathing and cooking water) with possible life-threatening consequences for his city's denizens.  He did so as part of a cost-saving plan and enacted by a handpicked "emergency" manager.
Fix it by drinking 20 gallons of that crap and turn yourself into the police.


“To you, the people of Flint, I say tonight as I have before: I am sorry and I will fix it.”
- Michigan Governor Rick Snyder during his State of the State address

Here is the essence of Fox News. Network producers care absolutely nothing about a GOP governor literally poisoning thousands (including children). They mobilize to hand a script to a president bimbo for on-air demagoguery. Think in terms of the "other side". Are GOP candidates mum on the Flint poisoning, because they care nothing about the "black vote?"  Rubio even feigned earlier in the week he knew nothing about the poisoning.  Really?

Fox News host dismisses Democratic concern for Flint water crisis as a way to “get more black votes”
Heather Nauert also describes federal emergency declaration as "an example of how political this is now getting" VIDEO

We offer the  right of the GOP and the African-American community.  Look and read closely and see if you notice any missing population groups?

Let's end this one, with a clear reminder of life in a mirror.

Jobs, jobs, jobs..and with no help from the GOP!


Saturday, January 9, 2016

December 2015 Jobs Report And A Reminder Of Dem Vs. GOP Job Creation

Job Growth anyone?

MSNBC's Steve Benen start his news day off with a review of and reminder of US job growth.

The nation ended the year with what some are calling a "cork popping" jobs picture. Benen runs with a piece from which I extracted a few tidbits.

Many economists predicted the U.S. job market would end 2015 on a strong note, but few expected it to be this strong.

The Bureau of Labor Statistics reported this morning that the U.S. economy added 292,000 jobs in December, well above projections. The overall unemployment rate remained at 5.0%, which is still the lowest it’s been since February 2008, nearly eight years ago. 

Making matters even better, the revisions were also heartening: October’s job totals were revised up, from 298,000 to 307,000, while November’s totals were also revised up, from 211,000 to 252,000. Combined, that’s an additional 50,000 previously unreported jobs.

Benen's continuing look at Private Sector Job Growth:
Read more linked above.

In a later post, Benen took his review here:

Even the right can’t deny job market’s hot streak

It is truly amazing any sane American would actually consider voting GOP in the coming General Election when faced with jobs reports as such.

January 8, 2016

As you worked your way through the jobs graphics, you thoughts probably reached to the common naysayer points that follow each and every positive jobs report.

Business Insider provided the naysayer platform this month. We certainly do not dismiss the following economic considerations, but we do consider the glass half full notion of what the naysayers would say with jobs reports as indicated via the red bars in the White House chart (above). 

I offer the very unqualified posit that as long as American executives (CEOs. management teams et al) are so handsomely remunerated, in some cases regardless of company performance, Participation Rates and Wage Growth will remain stagnate.

Since we started this piece with a review of December job growth, we will end with a link to a piece that drives home our point about voting GOP. Linked here.

And,a final slice of the Jobs "cake" from Bloomberg. Linked here.