Franklin County Democrats

The official site of the Democratic Party of Franklin County, Missouri

Browsing Posts tagged Jobs

GIVE
from Representative Deb Lavender’s Bi-Monthly Newsletter
June 25, 2015    Year 1 Newsletter 11
Bills Signed by Governor Nixon
House Bill 514:  provides tax breaks for a redevelopment project in Fenton. The bill allows for designated tax increment financing for the former Chrysler plant in Fenton that closed in 2007. The site will be developed as a business park with an emphasis on light manufacturing. The redevelopment is expected to help create up to 1,500 jobs within the first two years while adding as many as 2,000 additional jobs over time.  Even though this bill diverts up to $12 million a year from general revenue, the jobs created more than make up for the tax incentive offered to developers.

TAKE
St. Louis’ minimum wage hike potentially dead after aldermanic surprise

The city’s drive to raise the minimum wage within its limits may have been dealt a death blow Friday.

Sidebar: Some board members were racing to pass the bill before Aug. 28, when a state law could kick in forbidding the city from taking such an action.

Yesterday, NPR’s On Point with Tom Ashbrook devoted an hour to The Blue Collar  Jobs Of Tomorrow – listen here.

The new blue collar jobs.  We’ll look at where they are and what it will take to get one.

This Tuesday, Sept. 9, 2014 photo shows Jonah Devorak testing the dimensions on a high-pressure valve at Swagelok Co. in Strongsville, Ohio. (AP)

This Tuesday, Sept. 9, 2014 photo shows Jonah Devorak testing the dimensions on a high-pressure valve at Swagelok Co. in Strongsville, Ohio. (AP)

The stock market’s wobbly, Europe’s economy looks weak, China looks a little peaked.  You could worry plenty about the economy with a capital “E.”  But for most people, the economy boils down first to a job.  Everybody’s been spooked on that front at some point, but especially American blue collar workers.  Now, we’ve got big new headlines saying there’s a new wave of blue collar jobs coming open.  “Middle skill” boomers retiring.  New arenas opening up.  Really?  This hour On Point:  the new blue collar jobs.  What they are.  What they will be.  What they’ll pay. And are they for real?

Mike Konczal and Bryce Covert at The Nation ask the question “Does the Minimum Wage Kill Jobs?”    Well the employment numbers are in from states that recently raised their minimum wage, look what they found.

Get ready for Fox to load the whitewasher and set it to the creative spin cycle.

2014MinimumWageStatesEmployment

Monthly_0208_0514

Want to make these job gains more impressive?  2 years ago Salon asked Bush vs Obama: Who Created More Private Sector Jobs?

Salon compared the first term private sector, the ones Republicans are always talking about,job growth of Presidents Bush and Obama.

. It’s a story that probably isn’t getting told enough about the Obama administration: Big government keeps getting smaller.

But the real eye-opener comes when we compare Obama’s numbers to George W. Bush’s. In Bush’s first term, the economy shed 913,000 private sector jobs! 913,000!The only thing that saved Bush’s first term from being a complete economic disaster, in terms of employment, was robust public sector growth: The economy added 900,000 government jobs. One wonders: Without the massive growth in the public sector during Bush’s first term, would he have been reelected?

This is interesting for a number of reasons. First, it punches a big hole in the theory that Bush’s tax cuts were responsible for boosting employment during his first term. Let’s also recall that the Bush recession (which he inherited from Clinton) was far, far milder than the near-Depression Obama inherited from Bush. In that context, Obama’s performance resuscitating the private sector has been miraculous. The Washington Postpublished an article criticizing Obama for not doing enough to resist job losses in the public sector, without fully acknowledging the political impossibility of additional stimulus after the first round, but we haven’t heard all that much over the years about how the growth of government saved Bush’s bacon.

Of course, Obama isn’t running against Bush, so that’s moot. But as this presidential campaign heats up, it might be worth periodically reminding ourselves: Bush led the U.S. economy out of a weak recession with strong public sector growth. Obama is leading the U.S. economy out of a near-death experience while a steadily shrinking government swells the unemployment rolls. Which magic trick do you think is harder?

Nissan Yen-Aided Cuts Threaten Detroit Price Discipline is a well-written article thatScam 3D Word Swindle Con Game to Cheat You Out of Money - brings awareness to Japan’s history of currency manipulation and the consequences for Americans.

Nissan’s sales boom has the industry on edge. It’s the first sign of a Japanese automaker taking advantage of the weakening yen that Prime Minister Shinzo Abe has pushed down to improve Japan’s economy. That currency’s 15 percent swoon versus the dollar since Oct. 31 gives Japanese automakers an extra $1,500 per car they can use to cut prices or offer additional features while keeping prices even, according to Morgan Stanley.

Nissan’s marketing moves “strike me as a scorched earth policy of going for market share and sales volume at seemingly all costs,” said Michelle Krebs, a Royal Oak, Michigan-based analyst with auto researcher Edmunds.com.

That’s pressuring Detroit to maintain new-found discipline on discounting. An over-reliance on rebates and price cuts helped lead to Detroit’s downfall last decade. In order to survive, the predecessors of General Motors Co. (GM) and Chrysler Group LLC required government-funded bankruptcies in 2009 and Ford needed a self-financed reorganization.

The practice of manipulating their currency to gain advantage at the expense of American industry and jobs has been used extensively in the past and was a primary reason for the automakers needing bridge loans in 2008-2009.  As discussed in last week’s post regarding my appearance on Auto Talk with Dave Finkelstein I made this point to listeners of St. Louis’ right -wing radio station 97.1 FM.

How did currency manipulation help the Japanese firms steal market share?

Japanese automakers may wage a “silent price war,” in which they outfit new
models with extra features while keeping sticker prices in check.

Combine that with bigger profits,

The weaker yen will add $2.7 billion to Nissan’s operating profit this year,
Deutsche Bank estimated.

So the practice of currency manipulation helps Japanese manufacturers gain an advantage in the form of lower prices, more content, and higher profits.  All this from a government policy not more productive, efficient, innovative, or higher quality products.  Add in other practices such as direct research and development and a variety of subsidies courtesy of the Japanese and Korean government is it any wonder American automakers were pressured?

Of course a floating tariff to equalize the value of a currency’s manipulation would create a level playing field for all producers and avoid the circumstance in which domestic manufacturers, the ones providing tax revenue and jobs, are disadvantaged because policymakers don’t want to intervene.

Funny, how many of these same policymakers literally go ballistic if a foreign nation would invade this nation to take our freedom but are nonchalant about these nations destroying American industry, jobs, and futures.  OK, not that funny.

 

This weeks Moyers & Company features an interview with Nobel Prize winning economist Paul Krugman.  Paul contends that all the over-the-counter medicine has been used to cure the ailment known as the Great Recession.  It’s time for the prescription strength remedy and Paul describes what must be done.

The first priority is creating jobs which he says would have solved this economic downturn in two years or less.  Instead, groups he mocks as “very serious people” are preaching austerity and budget cuts.  Paul contends this is the exact opposite of what is needed.

I love how he crushes the argument of how we are supposedly becoming Greece!  Enjoy and share with any conservative that mindlessly mouths talking points.

Mitt Romney’s post-debate victory lap just got interrupted. Today’s jobs report shows the rate of unemployment has dropped to 7.8 percent, the lowest level since President Obama took office. This is great news for everyone except the GOP obstructionists in Congress who’ve done all they can to block any and all job creation measures in hopes of denying the president a second term. We might be near full employment by now had House Republicans not blocked The American Jobs Act.

Steven Benen explains why this jobs report is different …

The reason, however, that the new report is encouraging is the larger context: the unemployment rate dipped to 7.8%, which is nearly a four-year low, and the revisions found 86,000 additional, unreported jobs from the last two years.

And while drops in the unemployment rate are sometimes the result of Americans leaving the workforce, that’s not the case in this new report — the employment-to-population ratio went up, not down.

By most measures, this can fairly be described as a strong jobs report, at least relative to where we’ve been.

Cue the GOP conspiracy theories …

Despite the GOP’s claims that they and they alone are the arbiters of small-government, free-market capitalism, the facts tell a different story. Private sector employment has moved into net positive territory for the first time in a long time under President Obama, while the stock market is up and public sector jobs are down. Exactly the opposite was true under Bush.

To recap, under Obama:

  • Private sector jobs: Up by 35 thousand
  • Public sector jobs: Down 608 thousand
  • Stock market: Up by 64%

And under Bush:

  • Private sector jobs: Down by 646 thousand
  • Public sector jobs: Up by 1.7 million
  • Stock market: Down 24%

Sure, a net gain of 35,000 is not much to brag about but it’s a heck of a lot better than 646,000 job losses. And Obama still has four more years to go ;-) !

From Otto Fajen’s report:

GOOD JOBS FIRST ACT
The House Economic Development Committee will hear HB 1571 (Jeanette Mott Oxford D-59) on April 24. The bill establishes the Good Jobs First Act which substantially increases the accountability and reporting requirements for all state development subsidies to corporations. The bill limits development subsidies to those creating jobs with good salaries within the state at a cost to the state of no more than $35,000 per job. The Association supports the bill.

ECONOMIC DEVELOPMENT
Date: Tuesday, April 24, 2012
Time: 5:00 PM
Location: House Hearing Room 3
You can find information about HB1571 at:
http://www.house.mo.gov/billsummary.aspx?bill=HB1571&year=2012&code=R

continue reading…

Some highlights of what Obama’s American Jobs Act could mean for Missouri if passed:

  • In Missouri, 120,000 firms will receive a payroll tax cut under the American Jobs Act.
  • About 24,000 jobs to rebuild and modernize the state would be supported
  • The President’s plan will expand the payroll tax cut passed last December by cutting workers payroll taxes in half next year. A typical household in Missouri, with a median income of around $49,000, will receive a tax cut of around $1,520.
  • Sweeping reforms to the unemployment insurance (UI) system could could help put the 109,000 long-term unemployed workers in Missouri back to work.

For the full impact report for Missouri click here (PDF). Full press release from the White House below.

continue reading…

Powered by WordPress Web Design by SRS Solutions © 2017 Franklin County Democrats Design by SRS Solutions