ADP and Labor Dept. jobs reports will not matter, White americans and millenials jobs decimated under Obama, 75 percent of jobs went to Hispanics, We are being lied to on a scale unimaginable by George Orwell
“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
“There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.”…Gallup CEO Jim Clifton
“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells
Once again the media and the White House will prop up Obama and lie to the American people.
They have not been reporting the real jobs and economy situation in this country.
They especially are not reporting that White Americans have been decimated in the job market under Obama.
Don’t take my word for it. Go to the US Labor Dept. site and look for yourself.
From Market Watch June 3, 2015.
“Wall Street was poised for a positive session on Wednesday, with futures inching higher ahead of private-sector jobs data that could hint at the strength of the closely watched nonfarm-payrolls report.”
“Wednesday’s data: Investors will get a first sense of how the labor market performed in May with the ADP employment report, due at 8:15 a.m. Eastern Time. Economists polled by FactSet expect that 200,000 private-sector jobs were added in the month, up from a disappointing 169,000 in April.
The ADP figure is seen as a bellwether for the top-tier nonfarm-payrolls report due on Friday, although the private-sector data can at times veer substantially from the U.S. government’s report.”
Even if 200k jobs are added, it does not begin to make up for the massive losses of full time jobs under Obama, especially for White Americans and millenials.
Do not be fooled by the stated unemployment rate.
Jim Clifton, CEO of Gallup accurately called it a big lie.
Most of you reading this know that the economy, i.e., main street is not doing well.
That over 30 percent of millenials live with family members.
From Citizen Wells May 28, 2015.
“At least 9 million native born Americans being added to the labor force and immigrants taking native born American jobs.
There was an increase of over 12 million not in the labor force since Obama took office.
The youngest members of the workforce, 16 and above will be hit the hardest by immigrant workers.
And all of those jobs that Obama bragged about and Janet Yellen and others referred to….
Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000 were Hispanic/Latino!
We have barely, if at all, recovered all of the jobs lost during the recession and 75% of the job growth went to Hispanic/Latinos!!””
“Millennials are a bit of a mystery to Janet Yellen.
The head of the U.S. Federal Reserve said Tuesday that the behavior of millennials — which typically refers to a generation of people born in the 80s and 90s — has top economists scratching their heads.
“I think we’re just beginning to understand how the millennials are behaving,” Yellen said before the Senate Banking Committee. “They’re certainly waiting longer to buy houses; to get married. They have a lot of student debt. They seem quite worried about housing as an investment. They’ve had a tough time in the job market.”
- The large increases since 2007 in the unemployment and underemployment rates of young college graduates, and in the share of employed young college graduates working in jobs that do not require a college degree, underscore that the current unemployment crisis among young workers did not arise because today’s young adults lack the right education or skills. Rather, it stems from weak demand for goods and services, which makes it unnecessary for employers to significantly ramp up hiring.
- The long-run wage trends for young graduates are bleak, with wages substantially lower today than in 2000. Since 2000, the real (inflation-adjusted) wages of young high school graduates have dropped 10.8 percent, and those of young college graduates have dropped 7.7 percent.
- The erosion of job quality for young graduates is also evident in their declining likelihood of receiving employer-provided health insurance or pensions.
- Graduating in a bad economy has long-lasting economic consequences. For the next 10 to 15 years, those in the Class of 2014 will likely earn less than if they had graduated when job opportunities were plentiful.”
I do not know how many jobs would have to be created each month to catch up with the huge losses under Obama.
But remember, many of the so called jobs created were part time and low wage. Another reason the immigrants have fared better.
My best SWAG would be double the current number with a much higher percentage of full time jobs.
Actually I do have the background to calculate a more accurate number but that requires a reliable starting point & getting that number would be a real challenge