AP US hiring grinds to a near halt many stop looking for work, College grads get best bartending and restaurant jobs, White American college grads getting jobs?, Hickory Record uses 10 year comparison, Citizen Wells reports impact of Obama, Zero Hedge nails it
“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
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”
“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells
The AP, not known for reporting the impact of Obama on the economy and jobs, came closer to a factual report after the US Labor Dept. May jobs report.
I have several theories.
1. The mainstream media has been covering for Obama just like the “Times” of “1984.” If Trump wins they will then start reporting the truth about the economy and jobs and blame it on him. They have possibly begun the transition.
2. Mathematics. As Citizen Wells just reported, if we ever begin producing real full time jobs the unemployment rate could go negative starting from our mythical 4.7 percent. As reported by Zero Hedge: “Talk about perpetrating the BIG LIE. Goebbels and Bernays are smiling up from the fires of hell as their acolytes of propaganda have kicked it into hyper-drive. We only need the other 7.4 million “officially” unemployed Americans to leave the work force and we’ll have 0% unemployment. At the current pace we should be there by election time.”
From the Hickory Record June 3, 2016.
“US hiring grinds to a near-halt; many stop looking for work”
“U.S. hiring slowed to a near-standstill in May, sowing doubts about the economy’s health and complicating the Federal Reserve’s efforts to raise interest rates.
While unemployment slid from 5 percent to 4.7 percent, the lowest since November 2007, the rate fell for a troubling reason: Nearly a half-million jobless Americans stopped looking for work and so were no longer counted as unemployed.
Employers added just 38,000 jobs in May, the fewest in over five years.
Less-educated workers bore the brunt of the hiring slump, with a quarter-million high school dropouts losing their jobs in May. That has perpetuated a long-term trend toward a two-tiered job market, with college-educated adults more likely to be employed and earning steady raises.
“The shockingly low payrolls gain in May provides further evidence that the economy is showing clear signs of slowing,” said Laura Rosner, an economist at BNP Paribas.”
“Essentially all of the 7 million jobs added over the past decade belong to workers with at least some college experience. The number of high school graduates with jobs is 3 million lower than 10 years ago.”
“But job gains in March and April were also revised downward on Friday, leaving average monthly hiring at a pace of just 116,000 in the past three months. That’s sharply below last year’s average of nearly 230,000.
The share of Americans who are working or searching for jobs — a figure known as the labor force participation rate — fell in May to 62.6 percent, near a four-decade low.”
This article chose a 10 year comparison and stated: “Essentially all of the 7 million jobs added over the past decade belong to workers with at least some college experience.”
So let’s do a 10 year year comparison of white American employment.
You ask why white Americans?
1. Whites are still approximately two thirds of the population.
2. This provides more of a “apples to apples” comparison.
Civilian noninstitutional population
May 2006: 186,002,000
May 2016: 198,013,000
May 2006: 118,700,000
May 2016: 119,222,000
Not in labor force
May 2006: 62,452,000
May 2016: 73,714,000
Labor force participation rate
May 2006: 66.4
May 2016: 62.8
White American college grads must be getting the best bartending and restaurant jobs.
From Zero Hedge June 3, 2016.
“The Funniest BLS Report Ever”
“Only a captured government drone could put out a report showing only 38,000 new jobs created, with the working age population rising by 205,000, and have the balls to report the unemployment rate plunged from 5.0% to 4.7%, the lowest since August 2007. If you ever needed proof these worthless bureaucrats are nothing more than propaganda peddlers for the establishment, this report is it. The two previous months were revised significantly downward in the fine print of the press release.
It is absolutely mind boggling that these government pond scum hacks can get away with reporting that 484,000 people who WERE unemployed last month are no longer unemployed this month. ”
“In addition, 180,000 more Americans left the workforce, bringing the total to a record 94.7 million Americans not in the labor force. The corporate MSM will roll out the usual “experts” to blather about the retirement of Baby Boomers as the false narrative to deflect blame from Obama and his minions. The absolute absurdity of the data heaped upon the ignorant masses is clearly evident in the data over the last three months. Here is government idiocracy at its finest:
Number of working age Americans added since March – 406,000
Number of employed Americans since March – NEGATIVE 290,000
Number of Americans who have supposedly voluntarily left the workforce – 1,226,000
Unemployment rate – FELL from 5.0% to 4.7%
Talk about perpetrating the BIG LIE. Goebbels and Bernays are smiling up from the fires of hell as their acolytes of propaganda have kicked it into hyper-drive. We only need the other 7.4 million “officially” unemployed Americans to leave the work force and we’ll have 0% unemployment. At the current pace we should be there by election time. I wonder if Cramer, Liesman, or any of the other CNBC mouthpieces for the establishment will point out that not one single full-time job has been added in 2016. There were 6,000 less full-time jobs in May than in January, while there are 572,000 more low paying, no benefits, part-time Obama service jobs. Sounds like a recovery to me.”
From Zero Hedge June 3, 2016.
“When Obama made another TV appearance earlier this week, taking credit for the Fed’s reflation of the stock market as somehow indicative of an economic “recovery” (“fiction peddlers” not allowed in the crowd), he once ignore the underlying “facts” behind said recovery: here is another way of showing the unprecedented transformation in the US labor pool: since December 2014, the US has added 455,000 waiters and bartenders, while losing 10,000 manufacturing workers.”