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Must read links for 12/7/13

by on December 7, 2013

On the anniversary of Pearl Harbor I think it is important to point out one of the benefits of WW2 that came about after the war ended, and that is a full employment economy.  Something that made the greatest generation, the greatest generation.  Did you know there is a law on the books that requires full employment?

Federal Law Requires Job Creation

“Known popularly as the Humphrey-Hawkins Act after the names of the bill’s major Congressional sponsors, the late Senator Hubert Humphrey and the late Representative Augustus Hawkins, the law mandated that federal policies be directed at attaining a 4 percent overall unemployment rate and a 3 percent adult unemployment rate by 1983 on the path toward the target of a zero percent unemployment rate by 1988. The conventional way to achieve that objective – which never has been met – is old-fashioned Keynesian pump priming or the application of stimulus expenditures.”

The Negative Effects from ACA may cause measuring of jobs to be skewed higher.

Prior to Obamacare
34 hours worked = 1 parttime job household survey
34 hours worked = 1 job establishment survey

Enter obamacare
Person cut back to 25 hours and takes a second job for 10 hours
Here is the new math

25 + 10 = 1 fulltime job on the household survey.
25 + 10 = 2 jobs on the establishment survey.


Pushed out of jobs, possible age discrimination

“Age discrimination claims are on the rise as members of the post-World War II baby boom enter their 60s. Last year, 22,857 people filed age-related complaints with the federal Equal Employment Opportunity Commission, compared with 16,548 in 2006.”



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