New jobs report is an utter disaster for Kansas and Brownback

[workinclasszero]

New jobs report is an utter disaster for Kansas and Brownback
YAEL T. ABOUHALKAH AUGUST 19, 2016 9:28 AM

The new July jobs report released Friday is an utter disaster for Kansans and embattled Gov. Sam Brownback.

Here are the lowlights.

▪ The state lost 5,600 jobs from June to July.

▪ The unemployment rate jumped to 4.1 percent from 3.8 percent in June.

▪ Over the last year, Kansas has actually shed 4,500 jobs.

▪ The Sunflower State’s “growth” rate over that 12 months is a minus 0.3 percent — 5th worst in the nation. Only Wyoming, North Dakota, Louisiana and Oklahoma were behind Kansas.

▪ Kansas had employment of 1,395,700 in July 2016 — or a stunning 600 fewer jobs than when Brownback’s second term started way back in January 2015.

http://www.kansascity.com/opinion/opn-columns-blogs/yael-t-abouhalkah/article96635857.html

[guillaumeb]

1. And in Illinois, Bruce Rauner is pursuing a similar agenda.

It is called "trickle down economics", and it always leads to lower wages for the bottom 90%.

[ProfessorGAC]

3. I Think He'll Have A Short Term of Office

One term and bye-bye. He'll never get the northeast part of the state again.

[guillaumeb]

14. I agree. He won in a non-Presidential election

with a very low turnout.

[safeinOhio]

4. "trickle down economics" at one time was called

"the sparrow and the horse economics"

If you keep feeding the horse enough grain it will start to expel (shit) out the grain undigested and then the sparrow gets to eat it.

[guillaumeb]

15. I never heard of this term.

But something tells me that we are the sparrows in this fable.

[tonyt53]

5. Bevin is trying it in KY too. He likely won't make it a full term.

[guillaumeb]

16. The sad thing is that low information voters are repeatedly fooled

by these promises.

[Xolodno]

18. One step economics.

People only see the immediate economic benefits to themselves (i.e. I got $20 more on my check, that's an extra case of beer!)

They don't see the hack and slash of services, government contracts for private companies, etc. that harms them even more. So, today an extra case of beer, tomorrow, less work hours.

[guillaumeb]

19. Similar to the "next quarter only" view that apparently

governs business thinking. Only worry about next quarter profits/bonuses even if it means ignoring long term investment.

[Xolodno]

20. Yeap.

Why on earth should a CEO of a public traded company with plenty of protections (golden parachutes, poison pills, etc.) worry about long term investment? He has a contract for 5 or less years and massive stock options when hitting target profits. Nor are every day traders concerned about long term success. If the stock goes up due to profits this quarter, sell. Hold only if you think the company can sustain the profits for awhile, but when in doubt, sell. Result of no accountability on Wall Street. The very mechanisms that stopped corporate raiders in the 80's, now insure reckless investment.

Likewise, with my "case of beer" example, they don't see the long term impact and buy into the bullshit. That being, "its ok if the rich get a tax cut, because they will invest more into their business and create jobs or reward their workers....trickle down".

Of course, why in the hell should they invest more if they think they are reaping the maximum of the market they have? Give me an extra million or so due to tax cuts, instead of having one yacht on the east coast, I'll buy another on the west coast. Or, instead of spending the summer in Florida, I'll do it in Spain instead...etc. Money is only plowed back into the business if they assume they can reap greater rewards, if they don't see that potential.....yeah I think I'll build a mansion in Jackson Hole.

[marybourg]

2. The red state paradox.

[tblue37]

6. How did we lose fewer jobs in one year than in one month? Typo, maybe?

▪ The state lost 5,600 jobs from June to July.

▪ The unemployment rate jumped to 4.1 percent from 3.8 percent in June.

▪ Over the last year, Kansas has actually shed 4,500 jobs.

[flyingfysh]

8. Did the schools lay off teachers?

Perhaps because they couldn't pay them? That would explain it.

[dakota_democrat]

11. Could've been +1100 jobs up until the June/July dropoff.

[world wide wally]

7. You won't hear much about this outside of right here unfortunately

[leftyladyfrommo]

9. The KC Star will make a big deal of it.

They have been riding Brownback's ass for months. They don't let anything slide by that makes him look bad.

[calimary]

10. GOOD!

SOMEBODY has to! Glad they're doing it. They're a terrific newspaper!

[yortsed snacilbuper]

12. The silver lining,

Last edited Fri Aug 19, 2016, 06:13 PM - Edit history (1)

he eliminated taxes.

[SunSeeker]

13. K & R for exposure.

[central scrutinizer]

17. Clearly, even more tax cuts for the 1% are needed

Nfm