(WSJ) General Mills will close its 67 year old Lodi, California plant eliminating 430 more jobs in a struggling economy–in August, California reported 1,563 new jobless claims, the states unemployment rate remained unchanged at 7.4% higher than 43 other states and the national average.
Related: California Commercial Electricity Rates Soar in 3 Mo Period
California Unemployment Rate Unchanged in August
Image: Soquel by the Creek
Related: New California Jobless Claims Increase by 1500+ –LA Biz
(CNS News) Record 92,269,000 Not in Work Force–Bureau of Labor Statistics reports Labor Participation Rate Falls to 62.8%
Image: Soquel by the Creek
Thanks California Prop 30 Supporters for Making the State #1 in Taxes
Image: Soquel by the Creek@Twitter
On Wednesday I wrote here that Gov Jerry Brown’s tax hike had negative economic consequences and is a contributing factor why California is ranked as the worst state for business in 2014
Remember When Obama Claimed…
(Investors.com) After Obama took a victory lap claiming that 8 Million signed up for the ACA by mid-April, a dubious number to be sure by any logical calculations, the nation’s top insurers are now saying that the Obama Administration may want to recalibrate their “Guesstimations” of ObamaCare data to reflect a more accurate accounting.
The nations third-largest health insurer Aetna, had just 720,000 people sign up for ObamaCare as of the 20 May but at the end of June, it had but 600,000 actually paying the premiums and Aetna expect that number to fall to ‘just over 500,000’ by the end of the year.
Cigna projects its individual market customers including more than 100,000 in the ObamaCare exchanges to ‘move from 300,000 down to 280,000 in that range’ according to CEO David Cordani.
Another data point comes from the State of Washington–the only state that did not report ObamaCare sign-ups to HHS until consumers paid an initial premium. While the State of Washington had 164,062 paid enrollees as of the 23 April, by 01 June, the state reported that just 156,155 people enrolled.
The gap between the high watermark of ObamaCare sign-ups and the number of current premium paying customers reflects both those who never sent in their first monthly premium for any number of reasons, including: personal finances have been stretched, others may have got fed-up with the high-deductibles.
Regardless of the reasons, ObamaCare enrollment numbers are shrinking steadily and a far cry away from insuring those alleged 47 Million we were told were without health insurance, all of which one may never learn about from the dinosaur media which has a lot invested in the hope of Obama’s success than to report the real news of the day or from a president, much too busy vacationing in Martha’s Vineyard and hitting the links during his 28th golf outing this year than to concern himself with the mundane job that he was elected to do.
Labor Participation Rate for July at an Anemic Low of 62.9%
Image: Paul Drees@Twitter
(Zero Hedge) July’s economic news wasn’t nearly as rosey as Obama claimed during his press conference today but what’s new about that?
July payrolls increased by 209,000 well below the 230,000 jobs economists expected and the news gets worse–11.4 Million Americans age 16 and over have left the workforce since Obama took office according to CNS News in July, there were 92,001,000 Americans age 16 and over who were classified as not in the work force, this number has increased by 11,472,000 since January, 2009 when the number of Americans not in the labor force was 80,529,000
The unemployment rate increased to 6.2% in July while the real unemployment rate (which includes the U-6 rate plus those Americans marginally attached to the workforce) stands at 12.2%
More here from CNBC
Obamanomics 101 –Bastiat Institute@Facebook
(NY Times) Typical American Household Now Worth 1/3 Less
(NY Times) Paul Krugman: “Left Coast Rising” Huh???
Image: Soquel Creek
Federal Income Tax Failure –Image: J. Jacobs@Twitter
(ATR) On Thursday, the IRS released a slew of new tax forms–the new draft Form 1040 shows a new ObamaCare surtax line has been created for payment of the individual mandate surtax.
New IRS Draft Form 1040 Proves that Obama Repeatedly Lied About Individual Mandate Tax –Image: Elisabeth@Twitter
President Obama repeatedly:
(a) denied that the ObamaCare surtax was actually a tax;
(b) claimed that he would not raises taxes on the middle-class;
President Obama is a pathological liar.
California’s Anemic Job Growth Compared to the State of Texas with Smaller Population & Economy –Image: Soquel by the Creek@Twitter
California’s Gov Jerry Brown’s Tax Hike Has Sent Tax Revenues
Obamanomics in Action –Image: Gateway Pundit@Twitter