11
Jan
15

The Obama Economy Keeps Moving Forward Without Any Help From The GOP

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Jason Furman: The Employment Situation In December

1. The private sector has added 11.2 million jobs over 58 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm payroll employment rose by 252,000 in December, mainly reflecting a 240,000 increase in private employment. Private-sector job growth was revised up for October and November by a combined 50,000 so that over the past three months, private-sector job growth has averaged 280,000 per month. Private employment has risen by at least 200,000 for 11 consecutive months, the first time that has happened since the 1990s.

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2. Total employment rose by 2.95 million in 2014, the most in any calendar year since 1999. Private-sector employers added 2.86 million jobs last year, the strongest private-sector job growth in any calendar year since 1997. The pace of overall job growth has increased, averaging 246,000 per month in 2014, up from 194,000 per month last year. On a percentage basis, the economy is adding jobs at a rate of about 2 percent per year, also on pace for the largest percentage increase in any calendar year since the late 1990s. Crucially, the pickup in the pace of job growth in 2014 has primarily been in industries with higher wages. For instance, the pace of manufacturing job growth has more than doubled to 16,000 per month this year, from 7,000 per month last year, and average weekly earnings for manufacturing workers are about $170 higher than for all private-sector workers. As discussed in greater detail below (see point #4), overall real average earnings have generally been growing, but there is more work to be done to raise wages and address longer-standing challenges around family incomes.

More here

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DEFINITION OF ‘WAGE PUSH INFLATION’
A general increase in the cost of goods that is preceded by and results from an increase in wages. In order to maintain corporate profits after an increase in wages, employers must increase the prices they charge for the goods and services they provide. The overall increased cost of goods and services has a negative effect on the wage increase, and eventually, higher wages will be again needed to compensate for the increased prices for consumer goods.

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111 Responses to “The Obama Economy Keeps Moving Forward Without Any Help From The GOP”


  1. January 11, 2015 at 6:20 pm

    Families of French Terrorists Condemn Attacks

    Family members of the men suspected of going on a three-day terror rampage in France, who were killed in a police standoff, condemned the cowardly attacks on Sunday.

    The wife of Cherif Kouachi — who, with his brother Said, is believed to be responsible for a massacre at Parisian magazine Charlie Hebdo that left 12 people dead — was set free Saturday after being detained by authorities for 72 hours, and immediately “condemned the actions of her husband” via a lawyer.

    The lawyer, Christian Saint-Palais, told Parisian newspaper Le Figaro that the woman had the “same reaction as the national community” about the attacks and claimed that she never saw any sign from her husband that he would carry out a terrorist act. She was “stupified,” the lawyer said.

    Le Figaro also received a statement from the mother and sisters of Amedy Coulibaly, the terrorist, who was killed after a deadly hostage siege at a kosher market in Paris on Friday and was also suspected of killing a police woman.

    “We condemn these acts,” the statement read. “We do not at all share these extremist ideas. We hope that there will not be any fusion between these hateful acts and the Muslim religion” they said.

    “We finally hope that the citizens are united and in solidarity as we are with the families of the victims,” concluded the mother and sisters of Amedy Coulibaly.

  2. January 11, 2015 at 6:21 pm

    Wow! First in TODVille this afternoon!!!

    Thanks NW. I love the job report for the entire year. What an accomplishment!

  3. January 11, 2015 at 6:25 pm

    Thanks a trazillion Nerdy, have just taken my 96th tranquilizer to numb the pain of today’s football. Life is shit.

    And thank you LL for your outstanding piece in the previous post, next time United should play you and Nerdy up front, at least you two know how to hit the target 🙄

  4. January 11, 2015 at 6:28 pm

    I hope they are willing to do their job. It’s about time they stop their collective tantrum.

  5. January 11, 2015 at 6:31 pm

    Congrats NCLB 🙂

    NW, this is a very fine summary of the major economic achievements of the #OBAMAEconomy. Thank you!!

  6. 16 Nerdy Wonka
    January 11, 2015 at 6:31 pm

    If there is one movie, you, your friends, your neighbors, your co-workers, and your family should see, it is Selma.

    Run….Run…RUN to the movies and watch this masterpiece. Last year’s must watch movie was 12 Years A Slave. This year it is Selma.

    The first five minutes of the movie will take your breath away and make you sob for this country and for what Black people have suffered, toiled, fought, and died for.

    Bravo to Ava Duvernay (having a Black woman direct this movie was EVERYTHING. She told the story of Black people and what they have contributed to this country), David Oyelowo, Lorraine Toussaint, Oprah, Carmen Ejogo, Wendell Pierce, André Holland and everyone affiliated with the movie. Stellar directing and acting. Stellar! They did not give in to pressure to white wash and praise people who didn’t deserve it. They did not cuddle anyone. They told the story of a movement. To the critics who don’t like a torch blowing away the darkness, to the critics who don’t appreciate unvarnished truth and want to hide what injustice was done and is still being done, well, tough titties.

    The fight to vote epitomized by Oprah’s Annie Lee Cooper who was rejected time and time and time again; who was denied the right to vote over and over again despite meeting all the racist requirements. The fact that voter suppression has come full circle in such an overt manner, with state after state seeking to actively deny millions what their parents, grandparents, etc. died for.

    The visual of the horror that occurred on the Edmund Pettus Bridge during Bloody Sunday leaves you weak when you are jolted into remembering that these are real people that these injustices were visited upon. Real people who just wanted to be treated as the equals they rightfully were and are.

    Selma shows us that it is not just one person but a movement that will save the soul of America. Selma shows you that you can take pride in the strides we’ve made and are continuing to make, but we must never rest. We must never be asleep, and we must keep on fighting because there are future generations who need us.

    The movie could not have been released at a more timely moment in history. The juxtaposition of real life and the movie are eerily chilling. The music (bravo to everyone, but especially Common and John Legend) – stay until the very end of the movie. Don’t leave. – The scenery, the people, the children, the pain, the rage, the death, the tears, the blood, the hate, the ability to forgive people who want you to burn to death just because of the color of your skin, and ultimately the hope that no matter the struggle, that one day we shall overcome.

    Selma is brave, necessary, needed, and amazing in every respect.

  7. January 11, 2015 at 6:32 pm

    Just asking ….

    Oh, and the US Secret Service would have NEVER allowed it ….

    • 24 jacquelineoboomer
      January 11, 2015 at 9:33 pm

      That was my thought, too, Bob – you and I and many others had the same thought … but, of course, the freakin’ “news” media is all aghast.

  8. 25 a4alice
    January 11, 2015 at 6:32 pm

    Lovely and encouraging collection of tweets NW I think I rt’d em all. Thanks a bunch! 🙂

  9. January 11, 2015 at 6:35 pm

    one political party chose ECONOMIC TREASON against this country.

    Fortunately, we have a President who is a true American Patriot.

  10. 27 Nerdy Wonka
    January 11, 2015 at 6:37 pm

    See? This is the kind of crap that no matter how hard they try to hide it, comes crawling through.

    This wasn’t a concern until a Black man became President. Funny that.

    You can ascend to the highest level of power, but some will never be happy because that’s not the right shade in their warped minds.

  11. January 11, 2015 at 6:41 pm

    BREAKING: “Taking the piss” is my go to phrase for this week.

    • 34 MightyPamela
      January 11, 2015 at 8:32 pm

      LL: Tomorrow night – ElectroFunk at El Bar 3256 Cahuenga Blvd, West LA 10pm – one set, $5 cover. My nephew Katisse and some of his favorite musicians.. Maybe you would like it? Maybe it’s kinda late, I would be fast asleep before 10pm!! Thought you might like to know, tho..

  12. 37 carolyn
    January 11, 2015 at 6:43 pm

    I think having these libraries in various parts of the country IS democratic. To have them ALL in one place…..like D.C. would make it difficult for many people to visit, and the material would be more guarded. The way they are, it’s possible to visit one or two close to where one lives, and that is good. We “collect” presidential libraries, one of our favorite places to visit. However…….as close as we are to Dallas, we will NOT visit GWB’s “liberry.”

    • 38 MightyPamela
      January 11, 2015 at 9:35 pm

      Anyway, PBO may well end up with three, or FOUR! After all, his fourth quarter has only just begun, and he will pack more into it than the first 3!! We will help him!! As well, any state, or region knows, if it has OBAMA name on it, it will draw tourist and local traffic. It occurred to me after my spontaneous outburst above, wapo could take lessons in grace, courtesy and respect from those young boys in TN, they are wise beyond their years.

  13. January 11, 2015 at 6:54 pm

  14. January 11, 2015 at 6:59 pm

    Published on Dec 15, 2014
    “Selma” recounts the story of Martin Luther King Jr.’s historic voting rights march from Selma to Montgomery, Alabama. Oprah Winfrey and David Oyelowo join “CBS This Morning” to discuss the highly anticipated film.

    • 47 desertflower
      January 11, 2015 at 7:18 pm

      Excellent chat with Oprah and David. Must watch. However, I would pick a bone with Gayle King when she said that, “If you peacefully protest now you can’t lose your life.” Someone wasn’t paying attention.

      • 48 Nerdy Wonka
        January 11, 2015 at 7:51 pm

        That stood out to me too and I also disagreed with that comment.

        • 49 desertflower
          January 11, 2015 at 7:59 pm

          You heard it too…good. I’m not crazy. I was actually a little flabbergasted that she actually said that!

      • 50 theo67
        January 11, 2015 at 9:10 pm

        I’ve always thought that the luckiest thing Gayle King did was befriend Oprah Winfrey – she doesn’t always seem to be the smartest girl in the class. She’s fun, but not very insightful.

  15. January 11, 2015 at 7:01 pm

    Selma | full press conference (2015) David Oyelowo Oprah Winfrey

    • January 11, 2015 at 7:07 pm

      Oh, yes! Thank you for posting.

    • 53 vcprezofan2
      January 11, 2015 at 8:14 pm

      Many, many, many thanks, Rikyrah! I just finished watching that – it was 43 minutes very well-spent! I couldn’t see the 13 min clip above from my location, so being able to see this one in its entirety was a real treat. Thanks for bringing it to our attention!

  16. January 11, 2015 at 7:24 pm

    This is my thing about Zimmerman

    I’m Latino, and he looks more stereotypical “Latino” than I do.

  17. 56 Nerdy Wonka
    January 11, 2015 at 7:50 pm

    Be still our hearts.

  18. 57 Vicki
    January 11, 2015 at 7:52 pm

    I am a little confused about what went on in Paris today.

    Benjamin Netanyahoo wearing a kevlar vest under his buttoned to the chin overcoat doesn’t say “Liberte, Fraternite, Egalite” to me.
    More like Bernie Madoff leaving the courthouse in downtown NYC.

    Why would anyone think PBO should have been a part of this? Mind-boggling.

    • 58 taiping1
      January 11, 2015 at 10:37 pm

      If he had gone everyone would have complained about the expense, taking attention away from the French, etc.

  19. 59 Nerdy Wonka
    January 11, 2015 at 7:56 pm

  20. 62 arapaho415
    January 11, 2015 at 7:56 pm

    Posted these during the holiday season, but bears repeating.

  21. 64 arapaho415
    January 11, 2015 at 8:05 pm

    Response to @morningmoneyben.

    Response to the MSM echo-chamber re: wages (posted earlier today):

  22. 65 arapaho415
    January 11, 2015 at 8:13 pm

    Ran out of room to post the whole quote, which is:
    “Cops have more influence over the administration of your constitutional rights than any judge or elected official… [not to mention] your life.”

  23. January 11, 2015 at 8:14 pm

  24. 68 a4alice
    January 11, 2015 at 8:20 pm

    watching the globes – fun!

  25. January 11, 2015 at 8:27 pm

    But here was Laura Rozen and others in the US media braying about Bibi attending but not POTUS….

    • 70 Vicki
      January 11, 2015 at 8:34 pm

      See my comment about Bibi a few comments up, hopefruit. First he was in the second row but as the march began he muscled his way to the front.
      In addition to the kevlar vest, if you look at the footage you can see a security guards hand draped over Netanyahoo’s shoulder. A sickening display invoking fear and war. This guy has got to go. Israel, Please vote him out.

      • 71 hopefruit2
        January 11, 2015 at 8:43 pm

        Yes, he’s a HUGE disgrace not only to Israel, but to the world. And when the US media tries to use him as an :”example” that our President should follow, they’re an even bigger disgrace.

        • 72 theo67
          January 11, 2015 at 9:14 pm

          I’ll never forgive Congress for giving Netanyahu a platform (a very welcome one) to spew his hatred of President Obama, even while the President was out of the country on official business, representing the United States.

    • 73 99ts
      January 11, 2015 at 8:36 pm

      Good article – Netanyahu likes to interfere in domestic politics all over the world. Unbelievable that he can do this.

  26. 74 Nerdy Wonka
    January 11, 2015 at 8:46 pm

    Gina Rodriguez, a Latina, just won The CW their first Golden Globes, I believe.

    We’re breaking barriers tonight.

    Wooohoooo!

    Great show by the way.

  27. 75 Vicki
    January 11, 2015 at 8:55 pm

    Common and John Legend win Golden Globe!!!!! Anybody watching this? Common’s acceptance speech–Wow!

  28. 76 Nerdy Wonka
    January 11, 2015 at 8:56 pm

    Common and John Legend won for SELMA!!!!!

    YES! YES! YES!

    Common’s acceptance speech is one EVERYONE should watch.

  29. 77 Nerdy Wonka
    January 11, 2015 at 8:58 pm

    WOOOHOOOOOOOOOOOO!!!!!!

  30. January 11, 2015 at 9:05 pm

  31. January 11, 2015 at 9:05 pm

    #SelmaIsNow is now one of the top trends on Twitter….

  32. 85 amk for obama
    January 11, 2015 at 9:15 pm

    An American terrorism commentator speaking on Fox News has been forced to apologise for describing Birmingham as a “Muslim-only city” where non-Muslims “don’t go in”.

    Steven Emerson told the channel that in London “Muslim religious police” beat “anyone who doesn’t dress according to Muslim, religious Muslim attire”.

    He later issued an apology for his “terrible error”.

    But many on social media have been ridiculing his comments.

    One claimed: “Birmingham’s refuse collectors are all Bin Laden.”

    Another tweet said: “As someone born and raised in Birmingham, I must admit there was a pressure to read the Kerrang.”

    “I was supposed to go to Birmingham last week but I forgot my passport,” said one tweeter.

    His comments about Birmingham and London led to many reacting on hashtag #FoxNewsFacts.

    Some accused him on his investigative website of “speaking nonsense” and called his claims “utter rubbish”.

    http://www.bbc.com/news/uk-england-30773297

  33. 86 amk for obama
    January 11, 2015 at 9:19 pm

    “We played a much better game than Southampton,” said Dutchman Van Gaal. “They were lucky to score out of nothing.”

    said the dood who is in the exact same position that of the dood they kicked out last year. At least moyes wasn’t arrogant.

  34. 87 mtmarilyn
    January 11, 2015 at 9:26 pm

    I have to brag about JK Simmons who won the first award for supporting actor in Whiplash. I haven’t seen the movies, but I know him personally. I worked with his mother. His parents both died in this last year, they would be so proud. JK attended the University of Montana. It has been fun watching his career.

  35. 89 Nerdy Wonka
    January 11, 2015 at 9:42 pm

    HOLY. SHIT.

  36. 92 Nena20409
    January 11, 2015 at 9:46 pm

    Netanyahu is a spiteful bully.
    But unfortunately, those who keep electing and keeping his political manipulations alive are seriously the cause of what continues today to allow this bully to inject himself in US Politics and now in France. It is incomprehensible for me to wrap my head around why Netanyahu is allowed to be in the business of purging the flight of French Jews, especially, those 5 who were murdered in France last week by despicable terrorists.

  37. 94 Nena20409
    January 11, 2015 at 9:53 pm

    Colts beat Denver too? I didn’t even watch. I thought Manning will do his thing and Broncos would be victorious.

    Wow…..Packers and Colts……Wow…..unbelievable. I can’t wait for ESPN to watch the highlights.

  38. 99 Nena20409
    January 11, 2015 at 10:07 pm

    http://nymag.com/daily/intelligencer/2015/01/obamas-legacy-chait.html

    Ten and a half years ago, at the Democratic convention in Boston, Barack Hussein Obama was introduced to America as a youthful, magnetic man who had burst suddenly and somewhat mysteriously onto the scene. This characterization—superficially appealing yet weightless, more symbolic than substantive—followed him throughout his presidential campaign, when Hillary Clinton cast him as an inspirational speechmaker like Martin Luther King Jr., as opposed to a viable contender for president, and John McCain’s campaign scathingly labeled him a “celebrity,” attractive but vacuous.

    The lived reality of Obama’s presidency has unfolded as almost the precise opposite of this trope. He has amassed a record of policy accomplishment far deeper than even many of his supporters give him credit for. He has also survived a dismal, and frequently terrifying, 72 months when at every moment, to go by the day-to-day media, a crisis has threatened to rock his presidency to its core. The episodes have been all-consuming: the BP oil spill, swine flu, the Christmas underwear bomber, the IRS scandal, the healthcare.org launch, the border crisis, Benghazi. Depending on how you count, upwards of 19 events have been described as “Obama’s Katrina.”

    Obama’s response to these crises—or, you could say, his method of leadership—has been surprisingly consistent. He has a legendarily, almost fanatically placid temperament. He has now spent eight years, counting from the start of his first presidential campaign, keeping his head while others were losing theirs, and avoiding rhetorical overreach at the risk of underreach. A few months ago, the crisis was the Ebola outbreak, and Obama faced a familiar criticism: He had botched the putatively crucial “performative” aspects of his job. “Six years in,” BusinessWeek reported, “it’s clear that Obama’s presidency is largely about adhering to intellectual rigor—regardless of the public’s emotional needs.”

    • 100 taiping1
      January 11, 2015 at 10:48 pm

      Although the article is reasonable it entirely misses the context of racism which drives so much of the opposition to and media distortion of President Obama’s presidency.

  39. January 11, 2015 at 10:15 pm

    Who suppose to be upset cause POTUS didn’t go to Paris?

  40. January 11, 2015 at 10:23 pm

    Yes, they wanted PBO to put himself and others at security risk for a photo-op in Paris…

    • 108 amk for obama
      January 11, 2015 at 10:28 pm

      Is this true or is this one is a photoshop?

    • 109 Nena20409
      January 11, 2015 at 10:34 pm

      It really doesn’t matter to the Haters in US……They will Hate and attack pres Obama, no matter what. The Presidential Library is prime example.
      Jake Tapper and Fox and then the rest of the liars combined, Gingrich, Greta Van-S, etc.
      The March was for France and the French Unity. It was Not for Netanyahu to push himself out in front once the march went on….prompting King of Jordan and Pres Of the Palestinian Authority to have to do the same.

      The distance those leaders had to travel, I would guess were shorter than Coming from USA. Not to mention, it was hastily planned.

      • 110 99ts
        January 12, 2015 at 2:36 am

        So true Nena – if the President went to France – they would attack – but he stayed home – so that is bad too. I believe it was a very smart move to stay away – b.s. from the right but way less than if he had gone & the resulting security mayhem would have taken over the event.


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