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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (48010)	7/8/2013 12:09:32 AM
From: i-node	3 Recommendations Recommended By FJB Paul Smith TimF Read Replies (1) \| Respond to of 85487

>> Conservatives forced Obama to use the private sector. Ridiculous claim given there was NOT ONE REPUBLICAN VOTE for the turkey. What were "conservatives" going to do? Refuse to vote for it?

To: koan who wrote (48010)	7/8/2013 1:40:08 AM
From: Broken_Clock	Read Replies (3) \| Respond to of 85487

Conservatives forced Obama to use the private sector. now you're flat out lying.

To: koan who wrote (48010)	7/8/2013 7:27:51 AM
From: sm1th	1 Recommendation Recommended By Brian Sullivan Respond to of 85487

We liberals want a single payer universal health care You liberals want state control of everything, also known as Marxism.

To: koan who wrote (48010)	7/8/2013 9:22:16 AM
From: Brumar89	1 Recommendation Recommended By FJB Respond to of 85487

No conservatives voted for Obamacare ... it's a 100% liberal designed program.

To: koan who wrote (48010)

7/8/2013 9:52:03 AM

From: Brumar89

4 Recommendations

Recommended By
FJB
i-node
Paul Smith
TimF

Respond to of 85487

Trends in Full and Part-Time Employment; Obamacare Job Double Counting and Other Economic Distortions

Reader Tim Wallace provided another excellent series of charts on the employment situation. These charts compare June employment in 2013 to June in prior years.

click on any chart for sharper image

The small print on the graph below: Overall employment still over 2 MILLION LOWER than in 2007 in spite of 14 MILLIOM MORE OF WORKING AGE.

June Employment

June Full-Time Employment

June Part-Time Employment

Wallace writes "Hello Mish. The full-time job loss since June of 2007 now tops five million. The overall job loss is still 2 million, in spite of the fact the US now has a working-age population that is 14 million higher than in June 2007."

Snapshot 2007 vs. 2013

YearTotal EmployedFull-TimePart-Time

2007	146,958,000	123,554,000	23,404,000
2013	144,841,000	118,470,000	26,371,000
Difference	-2,117,000	-5,084,000	+2,967,000

........
Obamacare Job Double Counting

The above part-time numbers do not show the trend one might expect. Moreover, establishment survey numbers show a fair amount of hiring (+195,000 in the latest report), with recent months revised higher.

Here's the problem: The establishment survey double counts jobs when someone takes an extra part-time job, whereas someone working two part-time jobs is counted as employed just once in the household survey.

For example: Thanks to Obamacare, someone who used to work 35 hours a week for Olive Garden now works 22 hours for Olive Garden and 12 for Applebees. And Someone who worked 35 hours for Applebees now works 22 for Applebees and 12 for Olive Garden. The establishment survey sees two additional jobs created when precisely zero jobs were created.

Since this is happening en masse, I expect downward revisions in the future over Obamacare Double Counting.

The Obamcare effect is real. The distortions are complicated, numerous, and not widely understood.

Obamacare Economic Distortion Synopsis

October 10, 2012: Prepping for Obamacare, Olive Garden and Red Lobster Cut Workers' Hours; Are Other Companies Doing the same?
October 20, 2012: Mish Obamacare Mailbag: Expect More Part-Time Jobs
February 02, 2013: Obamacare in Action: Retail Workweek Hits 3-Year Low
February 19, 2013: Opting Out of Obamacare (the Unaffordable Health Care Act); Not Even Labor Unions Want It
May 3, 2013: Obamacare Affects Part-Time Employment Yet Again; Nullification Bill Passes South Carolina House; Analysis of Healthcare Penalty Rates
May 20, 2013: Obamacare Premiums 47% Higher But Deductibles 27% Lower Than Grandfathered Health Plans; Obamacare Lies
June 21, 2013: Obamacare Effects Hit Local Governments, Small Businesses, Temp Staffing Agencies; Chicago Dumps Retirees Into Obamacare

For more on Obamacare Economic Distortions, please peruse the above links to your heart's content.

Mike "Mish" Shedlock
globaleconomicanalysis.blogspot.com

Read more at globaleconomicanalysis.blogspot.com