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Chairman @SenMikeLee opening today's #JECHearing: "The American labor market is strong. The current economic expansion is the longest in U.S. history. Our unemployment rate has remained at or below 4% for the last 20 months and continues to fall." jec.senate.gov/public/index.c…
"Yet, behind these indicators of recent strength, there lies a worrisome, long-term trend... Many American men are leaving the workforce altogether. Though on the rise, the employment-to-population ratio for prime-age men is near levels not seen since the Great Depression."
"The JEC’s #SocialCapitalProject, as part of its mission to understand associational life in America today, has studied the plight of these disconnected men and identified potentially greater consequences for the health of our families and communities." #JECHearing
@SenMikeLee points out that in our report, “Inactive, Disconnected, and Ailing: A Portrait of Prime-age Men Out of the Labor Force,” we found that disconnected men are more socially isolated & less happy than their employed peers. Read all about it here: jec.senate.gov/public/index.c…
@SenMikeLee "If we are to expand opportunity by strengthening families, communities, and civil society, we must devote our attention to work—a means of supporting ourselves and our families, a source of meaning and purpose, and a site for affirming and satisfying relationships."
"A variety of reasons have been offered to explain why fewer Americans in their prime earning years are joining the work force: declining economic dynamism, falling worker mobility, stagnating wages, trade exposure, and employment polarization..." @SenMikeLee #JECHearing
"Our next step will be to consider policy reforms consonant with the most plausible explanations for declining prime-age labor force participation."
Look for an upcoming #SocialCapitalProject report covering these topics. Follow us to be the first to know when it's released!
Get updates via email by following our newsletter here: jec.senate.gov/public/index.c…
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Joint Economic Committee
@JECRepublicans
As @POTUS signs HR 6, the SUPPORT for Patients and Communities Act, to provide tools in the fight against the #OpioidCrisis, we thought we’d share some insights from our 2017 hearing featuring Nobel laureate Sir Angus Deaton, among others.
@POTUS Sir Deaton argued that deaths from legal and illegal drugs are contributing to an almost unprecedented increase in overall mortality among middle-aged white non-Hispanics. A century of mortality decline came to a halt at the end of the 20th century in America.
@POTUS The increase, argued Deaton and Anne Case, is due to a rise in drug, alcohol and suicide related deaths; they stated that the liberal prescription of opioids for pain relief fueled the epidemic.
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Rick Rieder
@RickRieder
Today’s #employment report was considerably stronger than anticipated, allowing for manufacturing-sector strike activity and with the substantial upward revisions to #job numbers over the past two months. Yet, clearly, employment growth is slowing some.
Still, the demand for #labor exceeds historically moderate levels of new entrants into the workforce, which has helped to bring the #unemployment rate down persistently over the past 10 years, to 3.56% today.
The question now is whether a moderating #employment cycle, alongside of an #economy faced with great uncertainty over the past few months, will see some bottoming and improvement from here, or not?
Read 4 tweets
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ChrisTomlinson
@cltomlinson
Unemployment is at record lows, but the uninsured rate is growing; the economy is expanding, but so is poverty. A thread and a column about why conservative promises about trickledown economics didn’t pan out. houstonchronicle.com/business/colum… @HoustonChron #txlege
@HoustonChron The rich are getting richer, and the poor are getting poorer despite a record-long economic expansion and massive tax cuts. And nowhere is America’s economic divide more evident than in Texas.
@HoustonChron Houston employers have complained for years about a workforce shortage, with the unemployment rate below 4.5% for two years. Companies should offer better pay and benefits. But Houston’s uninsured rate is the worst in the, more than double the national rate of 8.5%.
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CEA
@WhiteHouseCEA
New from @BLS_gov - in August, the #unemployment rate remained at 3.7%, and has been under 4% for 18 consecutive months, the longest such streak since 1970!
The economy added 130k #jobs in August and wage growth remained strong. Nominal average hourly earnings for private workers have increased 3.2% over the past 12 months and 3.5% for private non-supervisory workers.
The African American unemployment rate fell to a new series low of 5.5 percent (series beginning in 1972).
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Mona
@Monaheart1229
Instead of declaring a #NationalEmergency Trump is doing this...
He doesn't want this fight to end. Especially in light of Michael Cohen's announcement yesterday. #FridayFeeling #TrumpShutdown
washingtonpost.com/business/econo…
2-"White House officials on Wednesday asked federal agencies to send them a list of stalled services they would like to resume to minimize the public impact of the federal shutdown, three people familiar with the directive said. The message, conveyed during a conference call
3-"between top officials at the White House Office of Management and Budget and federal agencies, is part of a broader effort to keep large parts of the federal government running while President Trump digs in for a lengthy battle over a border wall. The Trump administration is
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❌Headsnipe01❌
@Headsnipe011
HISTORY!

Longest Consecutive Positive Monthly Job Growth in United States History

@drawandstrike @ThomasWictor @HNIJohnMiller @jihadaeon1 @rising_serpent @_ImperatorRex_ @Debradelai @LarrySchweikart

whitehouse.gov/articles/longe…
The United States economy is continuing its longest streak of consecutive positive monthly job growth at 94 months, with 3.9 million jobs created since President Donald J. Trump was elected in November 2016.
Although the Bureau of Labor Statistics (BLS) monthly Employment Situation Report shows that nonfarm payroll employment rose by 157,000 jobs in July, falling short of expectations,
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Gemma Seymour ⭐️ 🔰 🇵🇭
@gcvrsa
The #legitimacy of any form of #government is not and cannot be based upon #consent, but upon how well it protects the rights of those who refuse to consent.
When the bullshit is stripped away, #Socialism is #theft, and can never be a moral form of political economy, because it cannot protect the rights of those who refuse to consent to the theft of their earned wealth. Those who do consent are not prevented under any other system…
from engaging in #voluntary #cooperative #ownership of #capital. Therefore, #Socialism is not defined by voluntary participation, but by #coercion, or #theft, a universal #moral harm. #Intent is not #magic. Good intent and good works do not and cannot excuse the theft.
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