Archive for Obama’s Economy

U.S. Standard of Living Index Climbs to Highest in 7 Years; reached a new high of +50 in December 2014.

Posted in Uncategorized with tags , , , , , , , , , , , , , , , , , on January 9, 2015 by sheriffali

WASHINGTON, D.C. — Gallup’s Standard of Living Index reached a new high of +50 in December, the best score found in seven years of tracking the index. Americans’ improved perspective on their personal standard of living comes as they spend more money and begin to view the national economy positively.

 

The index has labored through a long recovery from its recession-era slump, with lows of +14 in both October and November of 2008, when the global economic crisis erupted. But the latest ratings exceed even pre-crisis levels in 2008, illustrating a remarkable turnaround in how Americans view their standard of living.

 

The year 2014 started off with better standard of living readings than practically all other monthly readings before, with a +41 in January and February. From March to November, it improved further, but remained in a narrow range of +44 to +47. The +50 rating for December brings the index to an unprecedented level in its seven-year trend.

 

Gallup’s Standard of Living Index is a composite of Americans’ responses to two questions: one asking whether they are satisfied with their current standard of living, and the other asking whether their standard of living is getting better or worse. The index has a theoretical maximum of 100 (if all respondents say they are satisfied with their standard of living and say it is getting better) and a theoretical minimum of -100 (if all respondents are dissatisfied with their standard of living and say it is getting worse). The current score of +50 indicates Americans are quite positive about their standard of living, but even at its lows in the fall of 2008, Americans evaluated their standard of living positively overall.

 

Both dimensions of the index have improved by roughly five points over the past year – however, since the nadir of these perceptions in 2008, people’s outlook for their standard of living going forward has improved much more than their current satisfaction with it.

 

Four in Five Americans Satisfied with Their Current Standard of Living

 

A consistent majority of Americans have expressed satisfaction with their standard of living over the past seven years, ranging from 69% in late 2008 to 81% today. However, after fluctuating in an even narrower seven-point range from 2009 through 2013, it rose from 76% at the end of 2013 to 81% at the end of 2014.

 

Twitter @sheriffali

 

http://www.gallup.com/poll/180449/standard-living-index-climbs-highest-years.aspx?

AMERICANS STANDARD OF LIVING DEC 2014

 

If we just focus on Jobs, why would anyone in the 98% category Vote Republican?

Posted in Uncategorized with tags , , , , , , , , , , , , , on October 4, 2014 by sheriffali

President Obama irrespective of the obstacles by the Do Nothing Republican Congress, his policies have produced over 10,000,000 plus Jobs. Just imagine if the President had any assistance from the GOP, the number of jobs created could have vastly expanded.

 

Republicans cannot take any credit for the 10,000,000 plus Jobs created over the past 55 months. The factual record is crystal clear. To be more frank the GOP has been [MIA] Missing In Action not only on Jobs, but every economic policy that is supposed to help America’s 98%!

 

Twitter @sheriffali

 BARACK OBAMA - JOBS SEP 3 14 GOP - MIA ON JOBS - ECONOMIC POLICIES

President Obama is the best Economic President in Modern Times [Forbes]

Posted in Uncategorized with tags , , , , , , , , , , , , , on September 10, 2014 by sheriffali

Outperforming Reagan on Jobs, Growth and Investing; best Jobs Creation in American History

 

The Bureau of Labor Statistics (BLS) today issued America’s latest jobs report covering August.  And it’s a disappointment.  The economy created an additional 142,000 jobs last month. After six consecutive months over 200,000, most pundits expected the string to continue, including ADP which just yesterday said 204,000 jobs were created in August.

 

 

One month variation does not change a trend

 

Even though the plus-200,000 monthly string was broken (unless revised upward at a future date,) unemployment did continue to decline and is now reported at only 6.1%.  Jobless claims were just over 300,000; lowest since 2007.  Despite the lower than expected August jobs number, America will create about 2.5 million new jobs in 2014.

 

And that is great news.

Back in May, 2013 (15 months ago) the Dow was out of its recession doldrums and hitting new highs. I asked readers if Obama could, economically, be the best modern President?  Through discussion of that question, the number one issue raised by readers was whether the stock market was a good economic barometer for judging “best.”  Many complained that the measure they were watching was jobs – and that too many people were still looking for work.

 

 

To put this week’s jobs report in economic perspective I reached out to Bob Deitrick, CEO of Polaris Financial Partners and author of Bulls, Bears and the Ballot Box (which I profiled in October, 2012 just before the election) for some explanation.  Since then Polaris’ investor newsletters have consistently been the best predictor of economic performance. Better than all the major investment houses.

 

 

This is the best private sector jobs creation performance in American history

 

 

Bob Deitrick: ”President Reagan has long been considered the best modern economic President.  So we compared his performance dealing with the oil-induced recession of the 1980s with that of President Obama and his performance during this ‘Great Recession.’ 

 

 

“As this unemployment chart shows, President Obama’s job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan.

 

 

“President Obama has achieved a 6.1% unemployment rate in his sixth year, fully one year faster than President Reagan did.  At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year.  So, despite today’s number, the Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration.

 

 

“We forecast unemployment will fall to around 5.4% by summer, 2015.  A rate President Reagan was unable to achieve during his two terms.”

 

 

What about the Labor Participation Rate?

 

 

Much has been made about the poor results of the labor participation rate, which has shown more stubborn recalcitrance as this rate remains higher even as jobs have grown.

 

Twitter @sheriffali

BARACK OBAMA - FORBES BEST ECONOMIC PRESIDENT

 

http://www.forbes.com/sites/adamhartung/2014/09/05/obama-outperforms-reagan-on-jobs-growth-and-investing/