|Photo courtesy of graur razvan ionut|
According to statistical measurements (listening to Obama) our economy has created 7.2 million jobs. Then, Mr. President, would you meet me for coffee at my ... oh, wait, we can't meet there because that business is shut down. Let's meet ... nope, not there, either, that business has been closed for more than a year. The Spin on the Frisbee is Obama is counting people who are employed... but actually those are the ones who have dropped off unemployment benefits because the benefits have run out. [Shock, gasp]
Here are 5 startling facts not mentioned by Obama, but that have a horrific effect on the economy:
1. Over 69 percent of the jobs created in Q2 2013 and over 57 percent of all the jobs created in the first half of 2013 were created in the three lowest wage sub-sectors of the economy, Retail Trade, Administrative and Waste Services, and Leisure and Hospitality, that otherwise account for an aggregate of only 33 percent of all private sector jobs.The facts here are really scary to me because I'm finished with my Master's in about 4 weeks. I'll get my diploma, and where will I get a job? I started earning my Master's because there were no jobs for me because I did not have my Master's. Now, there may not be a job for me even with my Master's.
2. These jobs, in the aggregate, pay an average of only $15.80 per hour, compared with the other two-thirds of private sector jobs, which pay $27.16 per hour. Relative to unemployment benefits and other assistance, jobs at $15.80 per hour put less than $3.00/hour more in the pockets of a newly working consumer.
3. About half of the jobs created during the first half of 2013, and a large majority of the jobs created in Q2 2013, appear to have been part-time jobs that offer employees as little as one hour of work per week, and up to 35 hours of work.
4. After falling from a recession high of 9.2 million to a post-recession low of 7.6 million at the end of Q1 2013, the number of people saying they are working part time because they can’t find full time work (part time for economic reasons) crept back up to 8.2 million, double pre-recession levels.
5. Nearly 100 percent of the decline in the U-3 unemployment rate has been the result of there being fewer workers in the labor force as a percentage of the employable population. If the Labor Force Participation Rate had not fallen from October 2009, when unemployment hit its Great Recession peak of 10 percent, unemployment would today still be around 10 percent. Moreover, if the LFPR were held constant from its highest pre-recession level of 66.40 percent in January 2007 (when unemployment was 4.6 percent), the U-3 unemployment rate would be nearly 12 percent today. (Copied from American Enterprise Institute)
I'm not afraid. I know God has a plan. What scares me is that we listen to someone who is supposed to be trustworthy, but he is packing the airwaves and newspapers with accusations of "false scandals", and untruths. How can you trust that? I can't. So I pray for our country, and I pray for the real truth to be told by a bold and brave press, not the mealy mouths that kowtow to an untrustworthy president.