Wednesday, June 08, 2016

Jobs Report Highlights Democrats Progressive Socialism : Failure To Deliver - Who Knew?



Who knew? Well, it appears that there are millions of people that have no idea just what is happening in our country. Just think about the huge rallies for Mr Ogbjma back in  2008 and 2012 and now for Bernie Sanders and Hillary that proclaim they want to double down on taking even more resources from the productive citizens, and then give it those of us that have decided to lay back and enjoy the good life while other labor.

The consequences of ignorance of what is going on with the ideology of progressive liberal socialism, that demands some will have to work, while others must receive, will be catastrophic for our sociality. But then that is exactly what Mr Ogbjma was taking about when he told us all back in 2008, ''If I am elected I will fundamentally transform America'', and he is doing just like he promised.

Worst of all, a huge slice of our population agrees. The down side of all this is like Margaret Thatcher said back in the day, 'Socialism is great until you run out of other peoples money'.

Eight Thousand Non-Health Jobs Lost in May
By Filed under Health Care Costs on June 3, 2016

The true scope of this morning’s miserable jobs report is disguised by the headline figure of 38,000 jobs gained. In fact, health services added 46,000 jobs while civilian non-health, non-farm employment dropped eight thousand (Table I). The warping of our economy towards the government-controlled health sector has reached the tipping point I have suggested for months.

20160603 TIHealth services jobs grew by 0.3 percent over the month. Half of that growth was in ambulatory settings, especially offices of physicians. Hospitals accounted for over one third of health jobs growth. Laboratories, outpatient care centers, residential mental health facilities, elderly community care, and other residential care showed no or very low job growth.
Over the last twelve months, health services jobs grew almost twice as fast as other jobs, comprising one fifth of all job growth. (Table II). Care for the elderly is moving out of nursing homes and into community care, reflected in very significant growth in home health. Nevertheless, the pace of job growth for ambulatory and hospital jobs has been about the same over the last twelve months. It is not clear there has been a secular evolution in favor of ambulatory care.

20160603 TII
The report also contains discouraging revisions from previous reports for March and April (Table III). The estimates of overall employment growth in those months have been revised down significantly. However, almost all the downward revision has been outside health services. While the total downward revision for those two months is one hundred thousand jobs fewer than originally estimated, only eight thousand are in health care.
20160603 TIII

The disproportionately high growth in health services jobs versus other jobs is very concerning because there is little evidence yet of improved productivity in health care. These added jobs are adding costs that will prevent reductions in the rate of health spending growth.
We need more job growth in sectors of the economy not dominated by government.














 

No comments: