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Posts Tagged ‘unemployment’

How Has Ted Strickland Touched You and Your Family?

May 27th, 2010 Matt View Comments

Post your answers here on Face Book.

Chris Redfern and Nipples on MSNBC

May 13th, 2010 Matt View Comments

What a dweeb. Maybe Chairman Redfern should keep going on cable news shows to tell people to check out an ad which explains that Hand-Jobs Czar Lee Fisher pleasured himself while unemployment doubled on his watch:

The Buckeye Institute’s President Matt Mayer: According to BLS, Things Are Worse than We Imagined!

March 11th, 2010 Matt View Comments

From the same group that just today announced it booted Ohio ACORN out of Ohio,  Buckeye Institute’s Mayer finds the latest government data troubling:

With the March 2010 employment data, the U.S. Bureau of Labor Statistics (BLS) revised its state employment data back to 1990 (www.bls.gov/eag/eag.oh.htm).  As you may recall, our report, “State of the State: Two Decades of Weak Job Growth and Skyrocketing Government Costs Pose Daunting Challenges for Ohioans,” highlighted several sobering pieces of BLS employment data (original data from the report in parens below).  The new BLS data paints an even more troubling outlook for Ohio.

Specifically, from January 1990 to January 2000, Ohio’s job market added 714,900 jobs (720,200), which was the 37th best in America.  From January 2000 to January 2010, Ohio’s job market lost 635,000 jobs (544,100), which was the 2nd worst in America.  From January 1990 to January 2010, Ohio had the 3rd (6th) worst job market in America — Ohio added a net of 79,900 jobs (176,100) over 20 years, or less than 4,000 per year (9,000) for Ohio’s 11.4 million people.  This growth amounted to an increase in jobs of 1.9% (4%) from 20 years earlier.  Only Rhode Island (-1.7%), Michigan (-2.2%), and Connecticut (-4.9%) had worse job markets.

Yikes! Read the rest of the details here.

God Bless Professor McCulloch

March 3rd, 2010 Matt View Comments

A fantastic letter to the editor in The Dispatch:

Regarding the Friday Dispatch article, “Ohio has no idea how to pay U.S. back for jobless benefits,” the first rule to follow when you find yourself in a deep hole is to stop digging. It is basic economics that if you tax an activity, you tend to get less of it, while if you subsidize an activity, you tend to get more of it.

Unemployment insurance pays workers to be unemployed and funds this with a tax on employment. The natural outcome is fewer jobs and more unemployment. Experience rating only partially offsets the adverse incentives this program creates.

Since we all want more jobs and less unemployment, unemployment compensation is completely counterproductive.

Congress and the states have compounded this folly by extending benefits repeatedly during this recession, so that they now continue up to 99 weeks in most states, including Ohio.

Not surprisingly, the average duration of unemployment is almost 50 percent higher than any other time in the past 60 years. The Ohio fund is already $2 billion in the hole and is expected to grow to $3 billion by year’s end.

Unfortunately, Congress compels the states to participate in this program. However, if Nebraska can be exempted from the burden of expanded Medicare, there is no reason that Ohio’s congressional delegation shouldn’t be able to get us exempted from the burden of expanded unemployment.

J. HUSTON McCULLOCH
Professor of Economics and Finance
Ohio State University, Columbus

Just like how Gov. Strickland described Sentor Jim Bunning’s efforts to block funding for additional unemployment benefits as “outrageous and hard-hearted“, there is no doubt he would say the same about the cold bucket of truth McCulloch just dumped in The Dispatch. And by discouraging people from taking work, people are not only less productive but they also become less employable the longer they are out of the market.

With teenage-unemployment officially being 26%, which the real numbers being much higher… especially among blacks, Gov. Strickland, as a long-time supporter of minimum wage increases, has a record of not knowing which policies by their very definition cause unemployment.

As it is, Ohio will not be able to pay back loans to pay for unemployment compensation, and will probably have to beg the Federal government to forgive the loans. But that won’t stop Gov. Strickland from going out on the campaign trail, telling you that the state will take care of you forever as long as you vote for him!

Instead, Ohio needs a governor like John Kasich who actually understand that to generate wealth and prosperity, Ohio must unleash the same entrepreneurs which Gov. Strickland would rather shake down to pay off voters with more unemployment compensation.

More Irresponsible Fiscal Leadership from Gov. Strickland

February 26th, 2010 Matt Comments off

As Catherine Candisky reports, Ohio’s unemployment-compensation-fund problem isn’t going away anytime soon:

It has been more than a year since Ohio depleted its unemployment-compensation fund, and with the fund’s debt surpassing $2billion and growing, a fix is nowhere in sight.

No one has even proposed what should be done to shore up the fund – not the governor, not the General Assembly, not an advisory panel made up of business, labor and legislative leaders.

In fact, state leaders can’t even agree on who is responsible for solving the problem.

The Unemployment Compensation Advisory Council threw its hands up 15 months ago after it was unable to reach consensus; it said the legislature would have to figure out a solution.

GOP leaders in the Senate say Gov. Ted Strickland must come up with a plan. The governor has urged the council to take another crack at it.

Absent action from the Statehouse, Ohio will owe the federal unemployment trust fund an estimated $3billion by the end of the year. Interest payments on the loan, which begin to accrue on Jan. 1, are projected at $120 million a year.

And while Ohio has no way to pay back this money, Ted Strickland is out on the campaign trail promising voters that we will be able to extend their unemployment benefits for an extra year.

The numbers involved here, including the amount that would have to be paid every budget on this debt makes the required subsidy on Ted Strickland’s 3C slow-train look like chump change.

Maybe Strickland’s plan is that Ohio, like a 3rd world country, will ask the Federal government to start forgiving debt?

Ted Strickland’s Humble Grading

December 22nd, 2009 Matt Comments off

I wonder if the thousands of Ohioans who have started to count on unemployment checks since Gov. Strickland took office agree with this in his year-end interview with The Plain Dealer:

Asked to grade his performance this year, the Democratic leader, heading into a crucial 2010 re-election campaign, coolly said, “certainly a solid B.”

Care to explain such a high mark, governor?

“Well, it’s because I’m too humble to say a solid A,” Strickland said in an interview with The Plain Dealer Monday. “But I think the affairs of this state have been managed responsibly in the midst of the most serious economic recession in many, many decades.”

As we all know, those who are most humble typically have to tell us that they are.

And as my friend Matt Dole tweeted, maybe Strickland would have given himself a “good solid B+” if he won the Nobel Peace Prize.

Considering that Strickland has just raised your income taxes by 4.2%, almost doubled the unemployment rate in the state of Ohio to a whopping 10.6% (with the real unemployment rate hovering in the 18% range), if that is a B, may God have mercy on our souls if we ever reach “C” level.

And who knew!… Nannystater Pastor Strickland is actually a libertarian:

On his attempt to place slot machines at horse racing tracks despite his personal opposition to gambling:

“I’m fairly libertarian in my attitude towards what adults can choose to do and not to do. I don’t want to be a moral policeman.”

Is Strickland only libertarian on issues that Mr. and Mrs. Chris Redfern lobby for? He certainly wasn’t libertarian on Penn National’s casino ballot issue, and he damn well won’t be supporting a controversial phone card/gambling scheme. Strickland is also not “fairly libertarian” on allowing parents to choose how they want their children to be educated (the latest budget cuts funding for faith-based school by 500% compared to the cuts that unionized public schools received) nor is Strickland “fairly libertarian” on allowing people to keep more of their own money to spend as they see fit.

How can a Governor describe themselves as “fairly libertarian” than continue to chip away at states rights by begging the Federal Government for more ObamaBucks, which always come with endless future spending mandates? (From Gongwer Monday Dec. 21, 2009:)

Facing a potential shortfall of at least $5 billion in Ohio’s next operating budget, Gov. Ted Strickland said Monday he is lobbying Washington for continued federal aid while planning ways to deal with “various scenarios” that may occur in the future.

“(No) one knows for sure what’s going to happen with this economy. I am hopeful for recovery. I think there are some signs that a recovery is on the way,” Mr. Strickland said.

“I can tell you that I am currently advocating for additional federal stimulus resources until this recession lifts,” Mr. Strickland said in an interview with Gongwer News Service marking the end of his third year in office.

Notwithstanding current economic problems, the governor said he would submit a capital improvements bill proposing new state building projects.

He also viewed as “more essential than ever” voter approval in the May 4, 2010 primary for borrowing $1 billion to finance an extension of the Third Frontier high technology research/development program.

$5 billion for walking around money, and $1 billion borrowed through bonds for corporate welfare? Ted Strickland has no room to criticize Nebraska Sen. Ben Nelson, and if Ted can call himself a “libertarian” than that word if quite meaningless.

Ted Strickland Continues to Turn Around Ohio!

November 20th, 2009 Matt Comments off

Unemployment continues to skyrocket:

COLUMBUS, Ohio — Ohio’s unemployment rate was 10.5 percent in October, up from 10.1 percent in September, the Ohio Department of Job and Family Services said today.

Ohio’s nonfarm wage and salary employment increased 1,400 over the month, from 5,097,000 in September to 5,098,400 in October.

And this number doesn’t include workers who simply gave up actively seeking employment.

Franklin County Unemployment- 9.2%

August 25th, 2009 Matt View Comments

This is lower than the alarming than the statewide unemployment rate– 11.2% — that has occurred on Gov. Ted Strickland’s watch, but wouldn’t it be fun to see what would happen to this number if OSU and public sector jobs were not included?

Unemployment increased in six of central Ohio’s seven counties last month, according to data released today by the Ohio Department of Job and Family Services.

Franklin County’s unemployment rate rose to 9.2  percent in July, up from 9 percent in June. The jobless rate in Licking County decreased slightly to 10.2 percent in July from 10.3 percent in June.

Ted Strickland’s “Turn Around Ohio” Plan Keeps Chug-Chug-Chugging Along

July 17th, 2009 Matt Comments off

Unemployment in Ohio is now 11.1%.

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