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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsNew jobs report is an utter disaster for Kansas and Brownback
New jobs report is an utter disaster for Kansas and BrownbackYAEL 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 States 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 Brownbacks second term started way back in January 2015.
http://www.kansascity.com/opinion/opn-columns-blogs/yael-t-abouhalkah/article96635857.html
guillaumeb
(42,641 posts)It is called "trickle down economics", and it always leads to lower wages for the bottom 90%.
ProfessorGAC
(65,138 posts)One term and bye-bye. He'll never get the northeast part of the state again.
guillaumeb
(42,641 posts)with a very low turnout.
safeinOhio
(32,714 posts)"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
(42,641 posts)But something tells me that we are the sparrows in this fable.
tonyt53
(5,737 posts)guillaumeb
(42,641 posts)by these promises.
Xolodno
(6,398 posts)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
(42,641 posts)governs business thinking. Only worry about next quarter profits/bonuses even if it means ignoring long term investment.
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
(12,634 posts)tblue37
(65,483 posts)▪ 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
(1,990 posts)Perhaps because they couldn't pay them? That would explain it.
dakota_democrat
(374 posts)world wide wally
(21,753 posts)leftyladyfrommo
(18,869 posts)They have been riding Brownback's ass for months. They don't let anything slide by that makes him look bad.
calimary
(81,435 posts)SOMEBODY has to! Glad they're doing it. They're a terrific newspaper!
yortsed snacilbuper
(7,939 posts)Last edited Fri Aug 19, 2016, 06:13 PM - Edit history (1)
he eliminated taxes.
SunSeeker
(51,657 posts)central scrutinizer
(11,659 posts)Nfm