Job recovery a lie, Over 9 million millennials entered job market, 2.8 million fewer white Americans employed in Obama’s first year, 4.7 million migrants given work permits, Sloppy reporting bias Orwellian lies?
“Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000, 75 percent, were Hispanic/Latino!”…Citizen Wells
“In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.”…Economic Policy Institute May 1, 2014
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
Read the following Market Watch article and decide for yourself if it is Sloppy reporting, bias and/or Orwellian lies.
From Market Watch March 1, 2015.
“Jobless recovery is now the job-led recovery”
“The easiest way to explain why the U.S. economy appears poised for its best growth in years can be found in a pair of words that have become more and more common: Help wanted.
Over the past year the U.S. has cranked out an average 259,000 new jobs a month, including almost 1 million positions in the last three months alone. That’s the strongest increase in employment in a decade and a half.
Nor is there any sign hiring is about to crumple. The U.S. added 252,000 jobs in January and economists polled by MarketWatch predict a milder but still-healthy 235,000 gain in February. The unemployment rate is seen dipping to 5.6% from 5.7%, though the official figure excludes millions of people who’ve given up looking for work and those who can only find part-time jobs.
In any case, the spike in hiring has set the stage for faster economic growth even though there’s little evidence yet that workers are receiving sharply higher wages. More Americans working means more people eating out, more car sales, more home buying and so forth — even if people who already had a job don’t increase their spending at all.
Better yet, that will spur businesses to raise their own spending.
“All the gains in the labor market have generated plenty of momentum that will support more consumer spending,” said Sam Bullard, senior economist at Wells Fargo. “There will come a point when businesses will need to expand to keep up with the pace of orders and sales.””
Here is the truth:
Job recovery of what jobs?
It is questionable if we have recovered the jobs lost prior to Obama taking office.
2.8 million white Americans fewer were employed during Obama’s first year.
During Obama’s term, from January 2009 to now, 75 percent of the employment went to Hispanics/Latinos.
New entrants to the labor market, those turning 16, netted by deaths yields at least 9 million new workers.
The US Labor Dept. states that we have approx. 15.5 million more in the labor force since January 2009.
4.7 million migrants were given work permits and God only knows how many more illegals entered the country.
There was an increase of over 12 million not in the labor force since Obama took office.
This is one reason that millennials are having a tough time.
Of the jobs touted in the article above for last year, 1.3 million went to Hispanic/Latinos. Almost as much as White Americans.
And from the CEO of Gallup, Jim Clifton.
“The Big Lie: 5.6% Unemployment”
“Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.”
For more details on the facts reported above, visit the Citizen Wells articles from the past several weeks.