Jobs

Obama’s Plan for Economic Growth Still Producing Disappointing Jobs Growth

The July jobs report was anything but inspiring.  Sadly, as the Heritage Foundation explains, the economy remains weak, and part-time workers are not being converted to full-time workers:

The Bureau of Labor Statistics employment report found steady but disappointing growth in the labor market in July. Employers added 162,000 net jobs, and the unemployment rate fell slightly to 7.4 percent. While this would be considered decent growth in normal economic times, it falls short of expectations for a recovery from a deep recession. However, part-time workers are not being converted to full-time at the rate seen in previous recessions.

President Obama’s promises remain unfulfilled:

In 2009, the Obama Administration promised that the huge increase in government spending from the stimulus would lead to recovery and low unemployment within a few years. Instead, four years later, unemployment remains persistently high.

And Obamacare will only make the situation grimmer:

Today’s jobs report shows that the labor market continues to grow at the same rate as the population, with no signs yet of the kind of acceleration needed to restore full employment. The decline in government employment has not shown any drag on the private sector, but the looming Obamacare employer mandate may be preventing the usual conversion of part-time jobs to full-time ones.

We have also noted that the poor economy has had negative effects on young people, and young men particularly.  That is why conservatives are working hard to spread the word about the defund Obamacare campaign.

 

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One thought on “Obama’s Plan for Economic Growth Still Producing Disappointing Jobs Growth

  1. 7.4% is not the unemployment rate.

    That figure only accounts for the people who qualify for government benefits. When people no longer qualify, the percentage rate is reduce regardless of whether they obtained employment or not. Likewise, employers may have added 162,000 jobs but conspicuously missing in this equation are the number of jobs lost and whether the jobs created were temporary, part-time, or full-time.

    This has become a serious problem because these arbitrary figures are used when lawmakers consider taxation, regulation, and trade policies that effect employment opportunities in America.

    IHMO, I think Heritage should do everything it can to expose these illogical jobs numbers and, whenever possible, promote the disclosure of the real percentage rate of Americans who are unemployed. Further, I would be very interested in a statistical analysis of “available jobs” vs “eligible workers” in the United States.

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