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Discussion: (4 comments)

  1. Shawn Myers

    Just think how many dollar will flow out of our economy with this tax called ACA, my taxes have gone up 228.00 this year. Less discretionary money in 2014-2015 will be a wet blanket on or economy!

  2. mesa econoguy

    I would like to check the predictive ability of the ADP number – it isn’t very good.

    But that’s not necessarily bad news here.

    There is ample evidence to suggest that BLS numbers are basically meaningless at best, or faked. ADP are real actual numbers, unlike the massaged and manipulated, seasonally adjusted BLS version.

    I think Mark Zandi was backpedaling about this/incredulous this morning on the blue channel with the sound off.

    But the overall call is 1) people are being disincentivized to work, and 2) we will never, ever see GDP above 2% annually (using revised composition) again as long as Obamascare and Doddering-Frankenstein exist.

  3. Jerome Barry

    During each Republican administration of my life, 50 years now, the members of the Press, of whom Mr. Pethokuokis is one, have indefatigably blamed the Republican President for every economic problem they could find or invent. Things were so very bad under Carter that he was also included in the blame, although the Press are to be excused for not actually believing he was President due to his Georgia accent.

    Five years of Mr. Obama directly responsible for retarding recovery and the vaunted Press are oh so very focused somewhere, anywhere else.

  4. Jack Hudson

    It is IMO a structural problem with the economy, and it all began with NAFTA. Allowing the Chinese into the WTO was the final death blow to the average American worker, who previously could work in a factory and earn a middle class income.

    The resurgence in manufacturing often quoted must take into account it is much more automated, requiring technicians with at least a two year degree. They are good paying jobs, but there will never be enough of them to replace what was lost.
    So a large portion of the unemployed are age restricted. They have bills they can no longer pay,and If they can’t get money to pay their bills while attending school in order to be retrained they are in real trouble, have lost everything, hence the reduced labor rate.

    Not to say there aren’t jobs available. It just seems they either require advanced degrees and experience, or are minimum wage. Very little if any in the middle.

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