Sunday, July 8, 2012

The Obama administration's Welfare State Creation: Responsible For Dramatic shifts in the labor composition

Fact: There has been a dramatic shift in the labor composition of the US welfare state under the Obama administration, starting with January 2009:

    -> Total Nonfarm Payrolls have decreased by -1.3 million from December 2008 (134,379K) to June 2012 (133,088); Source: St. Louis Fed

    -> Full-time jobs based on the Household Survey, have decreased by 2.5 million from 117,039K to 114,573K; Source: Table A.9, BLS

    -> Parti-time jobs based on the Household Survey, have increased by 1.6 million from 26,3187 to 27,894K; Source: Table A.9, BLS

    -> Foodstamps recipients have increased by 14.6 million from 31.567 million to 46,187 (as of April 2012); Source: USDA

    -> Disability recipients have increased by 1.3 million from 7.427 million to 8.733 million; Source: Social Security Administration

And that, in a nutshell, is how the economy has performed over the past 42 months (see chart of these quantities, above).

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