Archive for the ‘American Economy’ Category

Doorbell

Tuesday, August 16th, 2011

Power Line Blog contest winner

Your votes are worth $2,000 to Don Brookins, the creator of “Doorbell,” who may have launched a second career with one of the year’s most popular political videos.

Unemployment for July 2011

Friday, August 5th, 2011

The slideshow illustrates the unemployment data for each July for the last decade, 2002 to 2011.

Black Unemployment in America Today

Friday, July 29th, 2011
black unemployment rates

Bureau of labor Statistics graph of black unemployment rates 1982-2011

The Bureau of Labor Statistics has kept data on unemployment among American blacks since 1972. The record high rate of unemployment was in June 1983, 20.7%. The record low was in April 2000 at 7%. For June 2011 the black unemployment rate is 16.2%.

The last thirty years have seen four peaks for black unemployment and three troughs.

High % High Date Low % Low Date
20.7% June 1983 10.5% June 1990
14.7% May 1992 7.0% April 2000
11.5% June 2003 7.7% August 2007

The highest rate of black unemployment in the Obama era was 16.5% in March and April 2010. It has now been fourteen months since that peak. Black unemployment has dropped to 16.2%.

In comparison, after the first peak in the table, black unemployment had dropped from 20.7% to 16% in fourteen months. After the second peak it went from 14.7% to 12.7%. The fourteen months after the third peak saw black unemployment go from 11.5% to 10.5%.

The last Census report on poverty in America was released in September 2010 for the year 2009. Black poverty was up from its record low rate in 2000 of 22.5%. In 2009 just over one in four American blacks lived in poverty. For blacks living in a household headed by a woman, 40% lived in poverty.

Over the last generation, reductions in black unemployment have become increasingly more difficult to achieve. Even the record low rate set in 2000 was the highest of any minority and came during the one of the greatest economic upturns since World War Two. In the midst of an economic boom, seven percent of blacks remained unemployed.

Black unemployment, like black poverty, contains a core group that may not be reachable by economics and the free market as we know it. This hardcore cluster of poor blacks was created by social dynamics and governmental policies that may have created a permanently disenfranchised class lacking the ability to change their own condition.

American Unemployment for January 2011

Friday, February 4th, 2011

NYC job fair

The January 2011 unemployment numbers have been released by the Department of Labor’s Bureau of Labor Statistics.

Statistic Record Month Record January 2011 January 2009 Change
Civilian labor force October 2008 154,953,000 153,186,000 154,185,000 -999,000
Participation rate April 2000 67.30% 64.20% 65.70% -1.50%
Unemployment rate April 2000 3.80% 9.00% 7.80% 1.20%
White Unemployment June 2000 3.40% 8.00% 7.10% 0.90%
Black Unemployment April 2000 7.00% 15.70% 12.70% 3.00%
Hispanic Unemployment December 2006 5.00% 11.90% 9.90% 2.00%
Average wks unemployed June 1969 7.7 36.9 19.9 17.0
Discouraged workers August 2000 203,000 993,000 734,000 -259,000

We have placed the records for each statistic into this table. The records clearly demonstrate the Clinton era boom when unemployment was extremely low. As prior stories have reported, the Bush era maintained near record lows until the last year of his administration.

Nearly 1 million Americans have left the labor force since Barack Obama was inaugurated. The average number of weeks on unemployment has nearly doubled.

Hispanic unemployment has increased by 20% in the last two years but has more than doubled since its record low in 2006. Unemployment for blacks has gone up nearly 25% under this administration and has more than doubled since its record low in 2000.

The unemployment rate for women reached a modern low in December of 2000 at 3.3%. In January 2009 it was 6.4% and it was 7.9% in January 2011. As other media outlets have reported, unemployment appears to be affects far more men than women.

Examining the 111 Exemptions from Health Care Reform

Monday, November 15th, 2010

The names of the first 111 exemptions from the Obama Health Care Plan have been located. We undertook an examination of the contributions by these entities, or their principal officers, to see which party received the most contributions. Many corporations use their own PACS or donate to other PACS. The unions do the same.

Curiously, it appears that Republican donors did well in obtaining exemptions and donated much less so far in 2010.

One of the exemptions seems to have gone to an organization that benefits only non-citizens. The CWVBEA is a group that provides insurance to legal non-citizen workers in the U.S. from various Caribbean nations.

Enrolless of Dem Contrib 34,478
Enrollees of Repub Contrib 336,761
Enrollees of Unknown Contrib 804,172
Number of Dem Contrib 15
Number of Repub Contrib 20
Number of Unknown Contrib 76
Donations to Democrats $8,271,000
Donations to Republicans $461,225

The full report, showing all 111 exemptions, may be found in PDF format at this link.

The information in this report is not complete. It includes PAC contributions and contributions from corporate officers to candidates and committees that were clearly Democratic or Republican. Most donations to candidates by PACS in the record were not researched.

The information used in this report was culled from two FEC pages, Advanced Transaction Query By Individual Contributor and Summary Reports Search, and from Open Secrets.