At the current trend, the unemployment rate at the end of Obama’s reign of error in January 2017 will be 1%. I kid you not. In the last two months approximately 600,000 Americans have willingly left the workforce because they don’t need or want a job – according to the government drones at the BLS. The labor force participation rate is where it was during the glorious Democratic administration of Jimmy Carter in 1978.
It’s really just maf. The working age population grows by 200,000 per month. If 300,000 Americans leave the workforce every month for the remaining 27 months of Obama’s fantastic voyage, there will only be 1.3 million unemployed Americans in the entire country. What a glorious future awaits. By January of 2017 there will be 100 million Americans not in the labor force. That would bring the labor force participation rate to an all-time low of 60.5%. Now that is a goal to shoot for. Working is so overrated. The government has our back.
When Obama asks you whether you are better off than you were six years ago, remember this chart.
Hilarity ensues whenever the BLS issues their monthly propaganda. Here are some hysterical things of note:
- Since February of this year the working age population has grown by 1.4 million. Our friends at the BLS expect you to believe the labor force has only grown by 138,000 over this same time frame. We are supposedly in a strong economic recovery, but in the last seven months 1.2 million Americans left the workforce. So even though the number of employed people went up by less than the increase in the working age population, the unemployment rate plummeted from 7.0% to 5.9%. I’m rolling on the floor laughing.
- The supposedly fantastic employment increase led to a monthly DECLINE in the hourly wages paid to workers. Average wages have increased by 2% in the last year as the unemployment rate has supposedly crashed from 7.2% to 5.9%. Considering real inflation has been north of 5%, the 2% might not be enough for the average schmuck to feel good about. If the employment situation was REALLY improving, wages would be increasing at 4%. The government reports are a farce and the Federal Reserve is thrilled you aren’t getting salary increases, because it would ruin their ZIRP save the Wall Street banks plan.
- To give you some perspective on the falsity of the numbers being reported by your government keepers, there were 145.4 million Americans employed in 2008. There are now 146.6 million Americans employed. According to your leaders, the unemployment rate is exactly the same as it was in 2008. Think about that for one minute. There are 1.2 million more Americans employed than there were 6 years ago. Meanwhile, the working age population has risen by 14.7 million. What happened to the other 13 million Americans? According to theses corrupt, lying, propaganda spewing oligarchs, these people just decided to live the easy life and leave the workforce. They didn’t leave the workforce, they were forced out by a dying economic system that threw them overboard to save Wall Street.
The true unemployment rate is north of 20%, at Depressionary levels. You know it. They know it. But they will lie and obfuscate until they have sucked this country dry of every penny. The American Dream – you’d have to be asleep to believe it – or any government issued report.
What a roaring economic recovery. I’m going to go buy a rental house using HELOC money!
I’m sure those senior citizens are going back to work at Burger King because they love working shit jobs at shit companies.
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I don’t mean to nit-pick but it’s spelled: maff not maf. Dey shoulda learnt you dat in da gubmint scroll.
These people who drop out of the work force are probably going to their vacation homes, or going on cruises or extended European holidays.
Soon there will be no jobs – then we will have reached 100% full employment!
Already happens: Capitalism destroys human labor force and goes to the next phase
http://goo.gl/8oxzhU
1776 is the only answer to a corrupt and out of control government! Does anyone seriously think it will change after this next election? Using computers for an election is a guarantee for a fixed election.
This needs to be spread througout the country. I have always asked why population growth is never used in unemployment report.I guess the Nazis used lies , why can’t our government. We are being misled and it is intentional.
This is almost as big a joke as the fed report that said the economy is slumping because were all just stuffing cash under our mattresses instead of buying stuff or keeping it in a bank. People aren’t deciding they don’t need to work they’re giving up and finding ways to make due with a. Way crappier standard of life. Want to know why mcdonalds sales are down? People can no longer even afford to eat there! I know because I’m one of them.
“Want to know why mcdonalds sales are down? People can no longer even afford to eat there! I know because I’m one of them.” ————- Khaleesi
Try Wendy’s. They are cheaper. The dollar menu really is a dollar. You’ll love the taste, and there are no side effects.
Khaleese….we don’t eat at McDonald’s best they serve shit.If I want a real burger I make it or go to a little hole in the wall place locally that makes its own patties.
Fuck autocorrect…..because McDonald’s serves shit
Khaleesi is right on about the hoarding analogy by the Fed. What a bunch of narcissists!
The 13 million who left the work force, do we have any ages for them at the time they left?
I assume all were under age 65.
Don Levit
Don
The number of people over 59 in the workforce has risen dramatically since 2008. The people supposedly leaving the workforce are 25 to 59 years old.
another lie from the dept. of labor , Mr. Obola, they will do anything to get the satanist democrats elected in November, lying, deceptions, fraud , cheating, whores, paid political corporates whore hacks and the list goes on and on. tell the truth Mr.Obola, the true rate is 22% , you frauds in the labor dept. continue putting out false statistical data and it should be made a crime, especially coming from a criminal administration. this should be criminalized.
There are few, if any, stories that Admin posts that PISS ME OFF more than BLS bullshit. It can ruin my day, so I often don’t read them.
Maybe copfuk stories piss me off more. But, I’m not sure.
The MSM will dutifully report these figures as factual. Dumbfuk ‘murkans for the most part will believe it. We are soooo fucked.
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I guess about 94% of the employed ‘murkans are working for a piece of the red dot.
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I would laugh at the absurdity, if I weren’t crying from fear.
Wow, look at all the posters!
Way to go, jump in, get involved, stay awhile, or longer!
Except for the dork that thinks our faults are due to “capitalism,” instead of government overreach, socialism, corruption, lack of math skills and greed.
We haven’t seen “capitalism” since before Prohibition. Prohibition effectively ended such nonsense.
Government chooses winners and losers, and in case you haven’t noticed my delusional country-mate, government ALWAYS ends up losing.
It isn’t their money and they have no consequences for failure.
Captalism’s fault, as if.
Now the Fed can raise interest rates due to low unemployment. All is well
Aren’t there 2-3 hundred thousand leaving the labor force each month because they are retiring? Wouldn’t that bode ill for the economy and SS?
People who retire usually spend less. People who retire were earning greater income and contributing more to SS than the new hires with lower incomes. People who are retiring today are getting bigger SS checks than people who retired 10 years ago.
The working suckers are gong to have to pay more for the retired folks. AND, we’re going to have to import more illegals to fill the vacuum being left by retirees in order to keep the SS Ponzi afloat.
@Dave L, I would believe the retirement thing IF the fact wasn’t that those OVER 55 are, and have been since 2010 or so, getting the BULK of the jobs.
So, that kinda blows the “retirement” thing out of the water. Only unionists, union government workers, and the small biz guys that were smart enough to stay out of debt and cash out, retiring.
The rest are either on disability – just look at THOSE stats – or taking jobs wherever they can get them. There has been a decidedly older vibe in retail and restaurants over the past few years.
The jobs are college kids used to work are now partially supporting families. Of course WE are picking up the difference – plus some.
People in the prime family-supporting, working, years, are losing jobs on a monthly/yearly basis, and have been for a long time.
This whole house of cards layers ever higher, the gust of wind is on its way.
Or believe those that are setting us up and that have been jailing and stealing from us wholesale.
Stockholm syndrome. I think the working have been so continuously targeted and screwed over that most have just completely checked out.
Which is a great way to survive for now. Won’t work worth a shit when the water shuts off and the grocery stores burn, but hey. Party like it’s 1999, except this time, it isn’t the computers misunderstanding dates that is going to destroy us.
More Bad News From The Jobs Front
Paul Craig Roberts
The Bureau of Labor Statistics headline this morning reads: “Payroll employment increases by 248,000 in September; unemployment rate declines to 5.9%.”
How can this be? As I reported yesterday, US corporations are investing in buying back their own stocks, not in new business ventures that produce new jobs.
According to the Census Bureau’s Poverty Report, US real median family income has declined to the level of twenty years ago. http://www.census.gov/content/dam/Census/library/publications/2014/demo/p60-249.pdf
Consumer credit and real retail sales are not growing. Construction is limited to rental units. Construction shows 16,000 new jobs, half of which are “specialty trade contractors” or home remodelers.
The payroll jobs report lists 35,300 new jobs in retail trade. How is this possible when J.C. Penny’s, Macy’s, Sears, and the dollar store chains are in trouble and closing stores, and shopping centers are renting space by the day or hour?
At a time when there is a surfeit of office buildings and only 500 new jobs in “heavy and civil engineering construction,” the jobs report says 6,000 new jobs have been created in “architectural and engineering services.” What work are these architects and engineers doing?
The 4,900 computer systems jobs, if they exist, are likely short-term contracts from 6 to 18 months. Those who have the jobs are not employees but “independent contractors.”
The payroll jobs report gives an unusually high number–81,000–of “professional and business services” jobs of which 60,000 are “administrative and waste services,” primarily “temporary help services.”
“Health care and social assistance” accounts for 22,700 of the new jobs, of which 63 percent consist of “ambulatory health care services.”
“Performing arts and spectator sports” gave the economy 7,200 jobs, and 20,400 Americans found employment as waitresses and bartenders.
State governments hired 22,000 people.
Let’s overlook the contribution of the discredited “birth-death model” which overstates on average the monthly payroll jobs by at least 50,000, and let’s ignore the manipulation of seasonal adjustments. Instead, let’s assume the numbers are real. What kind of economy are we looking at?
We are looking at the workforce of a third world country with the vast bulk of the jobs in low-pay domestic service jobs. People working these part-time and independent contractor jobs cannot form a household or obtain a mortgage.
As John Titus, Dave Kranzler and I have shown, these jobs are filled by those aged 55 and over who take the low paying jobs in order to supplement meager retirement incomes. The baby boomers are the only part of the US labor force whose participation rate is rising.
Of the claimed new jobs in September, 230,000 or 93 percent were jobs filled by those 55 and older. Employment of Americans of prime working age (25-54) declined by10,000 jobs in September from the August level. http://www.bls.gov/news.release/empsit.t09.htm
As the US labor force continues its transition from first world to third world, real median family income will continue to decline. Ladders of upward mobility will continue to be dismantled, and income and wealth will continue to concentrate in the pockets of the One Percent. America is truly a country run for the few.