Tag Archives: The reason main street first and now Wall Street are collapsing

October 2, 2015 September jobs report White House and damned media still lying to you, The reason main street first and now Wall Street are collapsing, People employed not mythical jobs is the real news, White Americans decimated under Obama

October 2, 2015 September jobs report White House and damned media still lying to you, The reason main street first and now Wall Street are collapsing, People employed not mythical jobs is the real news, White Americans decimated under Obama

“In December 2014 there were 18 million immigrants (legal and illegal) living in the country who had arrived since January 2000. But job growth over this period was just 9.3 million — half of new immigration.”…Center for Immigration Studies February 2015

“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

 

 

The US Labor Department will come out with the September “jobs” report this morning. Once again the mainstream media including Fox and even Zero Hedge will blindly follow the cues about the mythical jobs that were created last month.

We know that most of the jobs created under Obama are part time, low paying jobs and this correlates well with the growth in Hispanic employment which correlates with the influx of illegal immigrants.

Why did no one, aside from Citizen Well,s report the over 130,000 drop in white employment in the first 6 months of 2015 and the decimation of white employment since Obama took office?

I got this data from the US Labor Dept.

People employed by ethnicity. Not mythical jobs.

There has been much written here about this. Search on employment to read more.

From Citizen Wells September 4, 2015.

““Total nonfarm payroll employment increased by 173,000 in August, and the
unemployment rate edged down to 5.1 percent, the U.S. Bureau of Labor Statistics reported today.”

There was an increase in 23,000 white American employment in August.
However, white employment is down 132,000 since January!!!

***

***  Update 9:10 AM  ***

Almost 1.5 million more white Americans dropped out of labor force since Jan.

White employment to population ratio down .3 percent since Jan.

White labor force participation rate down .6 percent since Jan.

***

Regardless of the unemployment rate and jobs data provided by the US Labor Department this morning, September 4, 2015, the real employment situation can also be found in their data.

White employment.

WhiteEmployment

Hispanic employment.

HispanicEmployment

I found this article by Business Insider from February 10, 2011.

“No One Looking At This Chart Could Possibly Call It A Recovery”

“Currently the problem in the US jobs market mainly lies with, what I call, the maintenance rate. This is the minimum monthly job creation rate that our enormous system–our economy and government with its revenues and liabilities–must have in order to maintain itself as population grows. Getting lost in the weeds, therefore, of monthly unemployment rates is a waste of time. After having lost 8+ million jobs from the top of the last expansion, nitpicking one’s way through the additions, revisions, and changes to the presumed size of the work force misses the point. And that’s this: any month in which the US does not create at least 125,000 jobs, from a systemic point of view, is negative. It’s less than zero.”

“Now you know why annual government budgets have blown out into the the trillions: the economic flows normally provided by a functioning economy are now provided through unemployment checks, food stamps, FDR style spending and other distributions. In short, the “economy” cannot be experiencing a recovery when, after 10 years of population growth and growth in future liabilities, the number of people employed is hovering around levels last seen in 2002-2004. Whether you chose to look at just Non-Farm Employment, or Total Employment, the US Labor Market is essentially flat-lining since a deep trough was reached in late 2009, early 2010.

Those who would make sweeping claims about a recovery in the entire economy should place these two charts shown here in their printed columns, along with the fact that the US population has grown by over 25 million people since the year 2000.”

Read more:

http://www.businessinsider.com/when-recoverys-just-a-word-2011-2

The referenced study from above was retrieved from the WayBack Machine.

Why was it scrubbed?

From the Brookings Institute February 4, 2011.

“The traditional unemployment rate does not fully capture the extent of labor underutilization in our economy. In addition to the 14 million Americans who are officially counted as unemployed (the jobless who are still actively looking for work), there are over 11 million Americans who either want to work but have given up looking, or who are underemployed in the sense that they are working part time because full-time work is unavailable. These additional workers are less visible but are undoubtedly victims of the recent recession.”

“The Hamilton Project explores the monthly “job gap” based on the employment numbers—or the number of jobs the economy needs in order to return to return to pre-recession employment levels while absorbing the 125,000 people who enter the labor force each month.

The annual revision to the historical payroll numbers released with the January report paint an even starker picture for the job gap this month, increasing it to 12.4 million jobs.

The chart below shows the evolution of the job gap since the start of the Great Recession in December 2007. The thick line in the chart below shows the net number of jobs lost since the Great Recession began.

The broken lines display the date by which the jobs gap would be closed under alternative assumptions about the rate of job creation going forward. If the economy adds about 208,000 jobs per month, the average monthly rate for the best year of job creation in the 2000s, then it will take until July 2023 to close the job gap. At a more optimistic rate of 321,000 jobs per month, the average monthly rate for the best year of the 1990s, the economy will reach pre-recession employment levels by May 2016. ”

https://web.archive.org/web/20110209104602/http://www.brookings.edu/opinions/2011/0204_jobs_greenstone_looney.aspx

From Zero Hedge September 2, 2015.

“Exposing The Lie Behind The “Strong Jobs Recovery” In One Chart”

“With all eyes glued to Friday’s payrolls report, we thought it worth reiterating some ‘facts’ about US employment data. As ECRI notes, the sustained decline in the official jobless rate – now approaching the Fed’s estimate of “full employment” – is a misleading indicator of labor market slack. The data shows that the so-called jobs recovery has been spearheaded by cheap labor, with job gains going disproportionately to the least educated — and lowest-paid — workers.

Indeed, the stagnation in nominal wage growth is consistent with the weakness in the employment/population (E/P) ratio. That said, even the E/P ratio may be overstating the health of the jobs market.

After dropping to three-decade lows in the wake of the Great Recession, the E/P ratio, has barely improved since the fall of 2013, reversing only about one-fifth of its decline from its pre-recession highs.””

https://citizenwells.com/2015/09/04/us-labor-dept-employment-charts-reveal-no-jobs-recovery-for-native-born-americans-september-4-2015-low-wage-part-time-jobs-going-to-immigrants-business-insider-warning-from-2011-economic-flows-p/