Gallup: One Out of Five American Workers Can’t Find Full Time Job

[Fury]

Gallup: One Out of Five American Workers Can’t Find Full Time Job
Thursday, March 17, 2011
By Terence P. Jeffrey

(CNSNews.com) - One out of five American workers who wants a full-time job cannot find one, according to a Gallup survey released today.

This news comes 25 months after President Barack Obama signed a stimulus law designed to keep the U.S. unemployment rate under 8 percent.

Gallup derives what it calls the “underemployment” rate by combining the percentage of unemployed workers with the percentage of workers who are employed only part-time but want a full-time job.

As of mid-March, Gallup reported in its new survey, 10.2 percent of American workers were unemployed and 9.7 percent were working part-time but wanted a full-time job. That equals an underemployment rate of 19.9 percent—or approximately one out of every five workers.

According to Gallup, the employment picture in the United States is virtually unchanged from a year ago.

In mid-March 2010, 10.3 percent of American workers were unemployed and 9.7 percent were working part-time but wanted a full-time job--yielding an underemployment rate of 20.0 percent. That compares to today’s 19.9 percent underemployment rate.

On Feb. 17, 2009, Obama signed an economic stimulus law that the Congressional Budget Office then-estimated would cost $787 billion. In Jan. 2009, Obama’s then-top economic adviser Christina Romer had reported that this stimulus, if enacted, would keep the U.S. unemployment rate under 8 percent.

Last month, the Congressional Budget Office published an analysis of the economic impact of the American Recovery and Reinvestment Act (ARRA), otherwise known as the stimulus. CBO now said it estimated the
jobs bill had cost $821 billion, not $787 billion. It also said it believed the positive effect of the stimulus on economic output had peaked in the first half of calendar year 2010 and that the stimulus' positive effect on jobs had peaked in the third quarter of calendar year 2010.

“The effects of ARRA on output peaked in the first half of 2010 and are now diminishing, CBO estimates,” said the report. “The effects of ARRA on employment and unemployment are estimated to lag slightly behind the effects on output; CBO estimates that they began to wane in the fourth quarter.”

According to the report, CBO estimated that the stimulus had reduced the national unemployment rate between 0.9 points and 2.0 points from what it otherwise would have been in the third quarter of calendar 2010—when it was at its maximum impact.

In the first quarter of calendar 2011 (the current quarter), the stimulus would only reduce the unemployment rate by between 0.7 points and 1.8, CBO estimated.

In an analysis it released with its unemployment numbers, Gallup explained why its estimate of 10.2 percent unemployment for mid-March is higher than the federal government’s report that the unemployment rate
was down to 8.9 percent in February. Among the factors causing the government’s official unemployment rate to be lower than Gallup's, Gallup said, was that the government applied “seasonal adjustments” to its unemployment rate that Gallup did not, that Gallup’s mid-March figures were more up to date than the government’s February figures, and that the government had reduced its estimated “participation” rate in the workforce to the lowest level in 27 years—assuming that discouraged former job seekers have now simply dropped out of the workforce.

“In part, the difference between Gallup's and the government's current job market assessments may be due to the government's seasonal adjustments,” said Gallup.

“Gallup's U.S. unemployment rate is also more up-to-date -- its mid-March data include jobless figures for much of March, whereas the government's latest unemployment rate is based on the jobs situation in mid-February,” said Gallup.

“Most importantly, a key reason the government's unemployment rate is dropping apparently has to do with the so-called participation rate: the percentage of Americans who are counted as being in the workforce,” said Gallup. “The government's participation rate in February was at its lowest level since 1984. In essence, this tends to suggest that the government's unemployment rate may be declining because many people are
becoming discouraged and leaving the workforce--not because they are getting new jobs.”

http://cnsnews.com/news/article/gallup-one-out-five-american-workers-can


Keep up the good work, Obama. Best keep focusing on gun control, partying, NPR funding and what not! 

[Soul Crusher]

Obama 2012:   "It could be worse"

[Fury]

Obama 2012:   "It could be worse"

The worst part is that this guy focuses on everything BUT the economy. He refuses to address it and the sheeple just sit there and justify it. 

[Soul Crusher]

The worst part is that this guy focuses on everything BUT the economy. He refuses to address it and the sheeple just sit there and justify it. 

Here is why. 

1.  It would take him admitting everything he has done and is doing is failing.   He wont do that because he is a meglomaniac. 

2.  What is would take to fix things is a 180 degree change of everything, and force him to do things that will cause the left wing base to freak out.   


So bottom line - we are forced to deal with this failure as long as he is in office.   Nothing will get better so long as he is there.  Businesses won't hire, people are scared, inflation from his money printing scams taking hold, etc.   

Funny thing is that I have been warning of this from day 1, and yet still TK is still in denial.             

[George Whorewell]

Gallup: One Out of Five American Workers Can’t Find Full Time Job
Thursday, March 17, 2011
By Terence P. Jeffrey

(CNSNews.com) - One out of five American workers who wants a full-time job cannot find one, according to a Gallup survey released today.

This news comes 25 months after President Barack Obama signed a stimulus law designed to keep the U.S. unemployment rate under 8 percent.

Gallup derives what it calls the “underemployment” rate by combining the percentage of unemployed workers with the percentage of workers who are employed only part-time but want a full-time job.

As of mid-March, Gallup reported in its new survey, 10.2 percent of American workers were unemployed and 9.7 percent were working part-time but wanted a full-time job. That equals an underemployment rate of 19.9 percent—or approximately one out of every five workers.

According to Gallup, the employment picture in the United States is virtually unchanged from a year ago.

In mid-March 2010, 10.3 percent of American workers were unemployed and 9.7 percent were working part-time but wanted a full-time job--yielding an underemployment rate of 20.0 percent. That compares to today’s 19.9 percent underemployment rate.

On Feb. 17, 2009, Obama signed an economic stimulus law that the Congressional Budget Office then-estimated would cost $787 billion. In Jan. 2009, Obama’s then-top economic adviser Christina Romer had reported that this stimulus, if enacted, would keep the U.S. unemployment rate under 8 percent.

Last month, the Congressional Budget Office published an analysis of the economic impact of the American Recovery and Reinvestment Act (ARRA), otherwise known as the stimulus. CBO now said it estimated the
jobs bill had cost $821 billion, not $787 billion. It also said it believed the positive effect of the stimulus on economic output had peaked in the first half of calendar year 2010 and that the stimulus' positive effect on jobs had peaked in the third quarter of calendar year 2010.

“The effects of ARRA on output peaked in the first half of 2010 and are now diminishing, CBO estimates,” said the report. “The effects of ARRA on employment and unemployment are estimated to lag slightly behind the effects on output; CBO estimates that they began to wane in the fourth quarter.”

According to the report, CBO estimated that the stimulus had reduced the national unemployment rate between 0.9 points and 2.0 points from what it otherwise would have been in the third quarter of calendar 2010—when it was at its maximum impact.

In the first quarter of calendar 2011 (the current quarter), the stimulus would only reduce the unemployment rate by between 0.7 points and 1.8, CBO estimated.

In an analysis it released with its unemployment numbers, Gallup explained why its estimate of 10.2 percent unemployment for mid-March is higher than the federal government’s report that the unemployment rate
was down to 8.9 percent in February. Among the factors causing the government’s official unemployment rate to be lower than Gallup's, Gallup said, was that the government applied “seasonal adjustments” to its unemployment rate that Gallup did not, that Gallup’s mid-March figures were more up to date than the government’s February figures, and that the government had reduced its estimated “participation” rate in the workforce to the lowest level in 27 years—assuming that discouraged former job seekers have now simply dropped out of the workforce.

“In part, the difference between Gallup's and the government's current job market assessments may be due to the government's seasonal adjustments,” said Gallup.

“Gallup's U.S. unemployment rate is also more up-to-date -- its mid-March data include jobless figures for much of March, whereas the government's latest unemployment rate is based on the jobs situation in mid-February,” said Gallup.

“Most importantly, a key reason the government's unemployment rate is dropping apparently has to do with the so-called participation rate: the percentage of Americans who are counted as being in the workforce,” said Gallup. “The government's participation rate in February was at its lowest level since 1984. In essence, this tends to suggest that the government's unemployment rate may be declining because many people are
becoming discouraged and leaving the workforce--not because they are getting new jobs.”

http://cnsnews.com/news/article/gallup-one-out-five-american-workers-can


Keep up the good work, Obama. Best keep focusing on gun control, partying, NPR funding and what not! 

Racist post reported.

[Kazan]

Wait a second, I just heard on the radio that jobless claims are down again, we are the road to recovery. You information must be faulty

[Soul Crusher]

Wait a second, I just heard on the radio that jobless claims are down again, we are the road to recovery. You information must be faulty

The were down slightly from last week,but last weeks were revised to ovr 400k I believe. 

Do you have any idea how bad this still is?  Correction - of course you do - you are sane.   

[tonymctones]

hmmmm no 240, straw, black ass, benny, andre or the rest of the left in this thread...

color me shocked

[Soul Crusher]

Is this the summer of recovery coming up? 

[tonymctones]

bump for straw, 240, blacken, andre, benny et al...

lets here your thoughts on 2+ years of "focusing on the economy"...

[240 is Back]

Boehnner "So be it".   One could argue all day the repubs are fighting everything obama does, and you have FOX voices admitting 6 months ago that we are recovering.

Who gives an F?  Both sides are going to scream "see, we were right"... shit hasn't collapsed, and we're about where we would be with president Mccain at the helm.


This left vs right shit is so funny.  You put 100 republicans in senate and shit would be just as bad.`

[MCWAY]

240 usually shows up to take his beatings. 

It's the other members of TK, who end up on MIA, when you bring up threads like this.

[240 is Back]

240 usually shows up to take his beatings. 

I love to argue and don't mind being owned from time to time.  I'm wrong on a lot of shit, and spinning is fun.

[Soul Crusher]

National Unemployment Numbers Don't Reflect States' Realities
Townhall.com ^ | March 17, 2011 | Donald Lambro



WASHINGTON -- The unemployment numbers came out last week, but these were not the nationwide 8.9-percent average that was announced with much hoopla earlier this month, capturing all of the headlines.

These were the Bureau of Labor Statisics' state-by-state unemployment rates that painted a much gloomier and more realistic picture of the failure of President Obama's economic policies to create jobs for unemployed Americans. They were not reported on the network nightly news, but they should have been.

The BLS numbers showed that half of all the states, as well as the District of Columbia, had unemployment rates of 9 percent or higher, much higher. Seventeen of the states, including the largest, Florida (11.9 percent) and California (12.4 percent), had severe jobless rates of between 9.5 percent and 14.2 percent.

States with 10 percent unemployment or worse included Nevada, 14.2; Rhode Island, 11.3; Michigan 10.7; South Carolina, 10.5; Oregon, 10.4; Kentucky, 10.4; Georgia, 10.4; and Mississippi 10.1.

No amount of "We're doing better," than we were in the midst of the 2008 to 2009 recession, or "We're moving in the right direction," can wipe away these unacceptable numbers.

Obama hasn't been saying much about unemployment lately, and he has proposed no new initiatives to strengthen the American economy and spur increased job creation in the private sector, where most of the jobs are produced.

The president has clearly distanced himself from this hot political issue and has been AWOL in the latest state and federal battles over job creation and economic growth. He is taking increasing flak even from Democrats for his failure to lead efforts to reduce the budget deficit, and on other issues. He thinks "We're doing better," will win him a second term in 2012.

But these problems are not going away, and if anything, they could get worse, much worse, and the biggest impediment to stronger growth is the unprecedented $1.6 trillion budget deficit forecast by the Congressional Budget Office and a mounting $14 trillion in debt.

President Clinton's former Treasury Secretary Robert Rubin, speaking in a public forum this week, says the troubled Obama economy still faces "serious headwinds" that are blocking future economic growth. And they include, he said, "our long-term fiscal trajectory" which -- not mincing words -- he called "horrendous, unsustainable and dangerous."

And he adds that these headwinds include state and local government deficits "that are going to have to be closed by their constitutions," and skyrocketing oil prices and high unemployment, which he says is really 16 percent when discouraged workers who have stopped looking for jobs, and thus have dropped out of the labor force count, and workers forced to take temporary employment are added to the numbers.

Rubin has a lot of credibility on these issues, especially on the budget, because during his service in the Clinton administration he put the government on a fiscally sound path with the help of the GOP, which cut spending in the late '90s, resulting in a budget surplus that led to much stronger economic growth and job creation.

This is the policy that is being fought over in Congress and in the states right now. Republican leaders and governors of deficit-ridden states are arguing that getting their fiscal houses in order will eradicate debt and increased confidence in the business community, which will in turn lead to more jobs.

Who is opposing this? Well, Obama, for one, who briefly entered the budget war in Wisconsin in opposition to its deep spending cuts, then fled from the battle when the going got hot. And liberal Pelosi Democrats in the House and Harry Reid Democrats in the Senate, who say budget cuts will lead to job losses.


Republican leaders have countered that view with a Joint Economic Committee report and independent economic studies that show cutting government spending and borrowing less produces a stronger private sector and more jobs.

House Republican leaders held a jobs-creation forum in the Capitol Wednesday, which drew business leaders and owners, and explained that a smaller budget means a stronger economy. "That's what all of this is about right now ... it is all really about trying to create an environment for job creation in the private sector," Majority Leader Eric Cantor told the Washington Post.

Like many of his colleagues, newly elected Republican Gov. John Kasich of Ohio is taking his sweeping budget-cutting plan on the road to public forums around the state. Ohio has been an economic basket case for the past decade or more, when Democrats raised taxes and spent like there was no tomorrow. Well, tomorrow has showed up with a crushing $8 billion in debts.

Obama's $1 trillion spending stimulus plan poured a lot of public-works money into Ohio, a big electoral state he needs to win re-election, saying the money would create jobs. The unemployment rate there now is 9.4 percent.

[Soul Crusher]

Unemployment Rises In Nearly All Metro Areas
WSVM ^ | 03/17/2011 | WSVM




WASHINGTON -- Unemployment rose in nearly all of the 372 largest U.S. cities in January compared to the previous month, mostly because of seasonal changes such as the layoff of temporary retail employees hired for the holidays.

The Labor Department said Friday that the unemployment rate rose in 351 metro areas, fell in only 16, and was unchanged in 5. That's worse than December, when the rate fell in 207 areas and increased in 122. Other seasonal trends, such as the layoff of construction workers due to winter weather, also contributed to the widespread increase.

Nationwide, the unemployment rate dropped to 9 percent in January from 9.4 percent the previous month. It ticked down to 8.9 percent in February. But the national data is seasonally adjusted, while the metro data isn't, which makes it more volatile. The metro data also lags the national report by one month.


(Excerpt) Read more at wsmv.com ...

[Soul Crusher]

Forget The Jobs Recovery, The Gallup Poll Shows We're No Better Than Last Year
Mike "Mish" Shedlock, Global Economic Trend Analysis | Mar. 19, 2011, 10:29 AM | 1,750 |  24


I am very skeptical of BLS unemployment rates inching lower. Not only do the BLS reports discount millions of marginally attached and discouraged workers but BLS seasonal adjustments seem more than a bit unusual.

Gallup polls paint a far different picture. Please consider Gallup Finds U.S. Unemployment at 10.2% in Mid-March

Unemployment Rate



Image: Mish's Global Economic Trend Analysis


 



Part-Time Workers Wanting Full-Time Job



Image: Mish's Global Economic Trend Analysis
 


Underemployment



Image: Mish's Global Economic Trend Analysis
 


The only valid way to compare not seasonally-adjusted numbers is to compare the numbers to the same month a year ago. I added the red circles on the above charts to show just that.

Note that year-over-year comparisons of the unemployment rate, the underemployment rate, and the part-time for economic reasons rate, all show no significant change compared to a year ago.

Meanwhile the BLS would have you believe the unemployment rate fell from 9.7% to 8.9% over the course of the last year.

Jobs Situation About the Same as It Was a Year Ago

The government's February report on the U.S. unemployment situation suggests that 192,000 jobs were created last month and the unemployment rate declined to 8.9%, down from 9.7% a year ago. Federal Reserve Bank of New York President William Dudley and others said they were encouraged by this report.

However, Gallup's unemployment and underemployment measures have not shown the same gains in early 2011. Gallup finds an unemployment rate (10.2%) and an underemployment rate (19.9%) for mid-March that are essentially the same as those from mid-March 2010.

In part, the difference between Gallup's and the government's current job market assessments may be due to the government's seasonal adjustments. Gallup's U.S. unemployment rate is also more up-to-date -- its mid-March data include jobless figures for much of March, whereas the government's latest unemployment rate is based on the jobs situation in mid-February.

Most importantly, a key reason the government's unemployment rate is dropping apparently has to do with the so-called participation rate: the percentage of Americans who are counted as being in the workforce. The government's participation rate in February was at its lowest level since 1984. In essence, this tends to suggest that the government's unemployment rate may be declining because many people are becoming discouraged and leaving the workforce -- not because they are getting new jobs.

If this is the case, then neither Gallup's unemployment report nor that provided by the government is good news for the economy. It is equally bad news if people are out of work and looking for a job or just too discouraged to say they continue to do so. Either way, a lack of sufficient job creation to increase employment among those who want to work remains a major obstacle to U.S. economic growth in the months ahead.

Gallup offers reasonable commentary. There is no reason to be excited over the BLS dip in the unemployment rate.

Here is another way of looking at it, using the BLS' own numbers.

Nonfarm Payroll Employment - Seasonally Adjusted Total



Image: Mish's Global Economic Trend Analysis
 


According to the BLS, non-farm employment is lower than it was in 2002!

Household Data



Image: Mish's Global Economic Trend Analysis
 


In the last year, the civilian population rose by 1,853,000. Yet the labor force dropped by 312,000. Those not in the labor force rose by 2,165,000.

In January alone, a whopping 319,000 people dropped out of the workforce. In February (this months' report) another 87,000 people dropped out of the labor force.

Were it not for people dropping out of the labor force, the unemployment rate would be over 11% (Rosenberg pegs it at 12%).

On a year-over-year basis the number of people employed dropped by 125,000 yet we are supposed to believe things are getting better. From a jobs standpoint the best we can say is things are no longer getting worse. However, we can also state the BLS unemployment rate is a complete distortion of reality.

Finally, take a look at that employment chart and tell me where the demand for housing is going to come from. Here's a hint: you can't do it. For further discussion of housing, please see Shrinking Labor Pool Means Shrinking Demand For Housing.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Tags: U.S. economy, Jobs, Unemployment | Get Alerts for these topics »

Read more: http://www.businessinsider.com/gallup-poll-unemployment-2011-3#ixzz1HEvLtWcY

[chadstallion]

macdonalds is always hiring.
so is the Marriott.

[tonymctones]

macdonalds is always hiring.
so is the Marriott.

LMAO yes yes lets not focus on growing the economy and bringing back good jobs lets tell the ppl who are unemployed and underemployed to go work at mcdonalds and the marriott.

fuking moron

[chadstallion]

LMAO yes yes lets not focus on growing the economy and bringing back good jobs lets tell the ppl who are unemployed and underemployed to go work at mcdonalds and the marriott.

fuking moron

now you are mocking people that work at macdonalds and marriott?
better double check your order for extra spit...

[tonymctones]

now you are mocking people that work at macdonalds and marriott?
better double check your order for extra spit...

way to miss the point brain child...the point was to get the economy going and bring back good quality jobs.

working at mcdonalds is fine if thats all you want to do in life, but the ppl that want more and are qualified for more need jobs to fill...

thats the point dumb ass

[chadstallion]

way to miss the point brain child...the point was to get the economy going and bring back good quality jobs.

working at mcdonalds is fine if thats all you want to do in life, but the ppl that want more and are qualified for more need jobs to fill...

thats the point dumb ass

watch that secret sauce; and watch for bed bugs!

[chadstallion]

and thanks for replying; its fun to see how long you will continue to do so...

[tonymctones]

watch that secret sauce; and watch for bed bugs!

hahaha have a friend whos dad owns a number of mcdonalds here in and around houston. Its not that bad, at least not at the ones he owns.

[tonymctones]

and thanks for replying; its fun to see how long you will continue to do so...

no problem, thanks for being a complete and total retard its fun to see how long you will continue to be one

[chadstallion]

no problem, thanks for being a complete and total retard its fun to see how long you will continue to be one

as long as you continue to reply to my statements.
see the thread on gay marriage for an easier way for us to play together.