A Major Employment Turnaround Simply Is Not Happening: The Employment Rate Has Been Under 59 Percent For 39 Months In A Row While Over Six Million Teens And Young Adults Are Out Of Work And Not In School
The mainstream media is heralding the decline of the official unemployment rate to 7.7 percent as evidence that the U.S. economy is improving. But it is a giant lie. The truth is that unemployment in America is not actually going down. The percentage of working age Americans with a job actually dropped slightly in November. During the last recession, the percentage of working age Americans with a job fell from about 63 percent to under 59 percent and it has stayed there for 39 months in a row. In September 2009, during the depths of the last economic crisis, 58.7 percent of all working age Americans were employed. In November 2012, 58.7 percentof all working age Americans were employed. It is more then 3 years later, and we are in the exact same place! So how in the world are they able to pretend that the “unemployment rate” is going down steadily? Well, they get there by pretending that hundreds of thousands of unemployed workers “leave the labor force” each month. According to the government, another 350,000 Americans left the labor force during November, and when you keep pretending that huge chunks of workers “disappear” each month it is easy to get the “unemployment rate” to go down. But any idiot can see that there is something really funny about these numbers. Barack Obama has been president for less than four years, and during that time the number of Americans “not in the labor force” has increased by nearly 8.5 million. Something seems really “off” about that number, because during the entire decade of the 1980s the number of Americans “not in the labor force” only rose by about 2.5 million. At this point the official unemployment rate is so manipulated that it is of very little value at all.
But the mainstream media is just eating up this “good news”. They are very excited that the “unemployment rate” has fallen from its peak of 10.0 percent in October 2009 to 7.7 percent now…
But if unemployment was actually going down, we should be seeing the percentage of Americans with a job go up.
Unfortunately, that is NOT happening.
As I mentioned above, the “employment rate” fell below 59 percent during the last economic crisis and it has stayed there for 39 consecutive months…
So all of that stuff about the employment situation getting better is just a load of nonsense. The percentage of Americans with a job has stayed very, very steady since the end of 2009. It is almost as if someone has hit a “pause button” and won’t let unemployment get better or get worse.
This is the first time since the end of World War II that we have not seen the employment-population ratio bounce back in a significant way after a recession has ended.
To me, that is a very bad sign.
I also find it very interesting that the government revised the “job gains” for September and October downward in this recent report…
The government revised down job gains for September and October by a total 49,000. September’s additions were revised from 148,000 to 132,000 and October’s, from 171,000 to 138,000.
So it turns out that the glowing employment reports from those months that helped get Obama re-elected were really not that great after all.
The truth is that it takes somewhere between 100,000 and 150,000 new jobs a month just to keep up with the growth of the population. So at best we are treading water.
And who is “creating” those new jobs?
According to an analysis performed by CNSNews.com, 73 percent of the jobs “created” over the past 5 months have been “created” by government.
But government does not create real wealth.
Real wealth is only created by the private sector.
It would be very nice if I could report a major employment turnaround, but it simply is not happening.
Instead, we continue to see an increase in the number of Americans living in poverty.
If things are getting better, then why are organizations like the Salvation Army seeing record numbers of families coming to them for help this holiday season?
For much more on the continued growth of poverty in the United States, just see this article.
Sadly, an increasing number of Americans find themselves forced to turn to the government for assistance, and the cost of caring for all of them has become extremely expensive…
According to the Republican side of the Senate Budget Committee, welfare spending per day per household in poverty is $168, which is higher than the $137 median income per day. When broken down per hour, welfare spending per hour per household in poverty is $30.60, which is higher than the $25.03 median income per hour.
But if you think that things are bad now, you should brace yourself, because things are going to get even worse.
For example, how much worse will things get if a fiscal cliff deal is not reached and millions more Americans find themselves in desperate need of help? According to ABC News, more than 3 million Americans will lose unemployment benefits by the beginning of April if Congress does not do something…
Millions of unemployed Americans have another reason to worry about “fiscal cliff” budget talks that seek to avoid looming tax increases and dire spending cuts come January.
About 2.1 million people will stop receiving jobless benefits immediately if Congress doesn’t reauthorize federal unemployment insurance programs by year’s end. Another 1 million will lose benefits over the first three months of 2013.
2013 is already shaping up to be a very tough year.
They just want us all to be happy, but the cold, hard reality of the matter is that the U.S. economy no longer produces enough jobs for everybody and it never will again.
Both of our major political parties have fully embraced the emerging one world economic system which puts average American workers into direct competition for jobs with workers in third world countries where it is legal to pay slave labor wages.
Are you willing to work for 45 dollars a month?
Meanwhile, Americans that still do have jobs are piling up more debt than ever before. It appears that most people have not learned any lessons from the last major economic crisis. It has just been reported that consumer borrowing in the United States has hit a new record high…
Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high.
The Federal Reserve said Friday that consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.
Isn’t that lovely?
And of course the biggest offender of all is our federal government. They just keep borrowing money as if there was no tomorrow.
During the first two months of fiscal year 2013, the U.S. government has run a deficit of $292 billion dollars ($57 billion worse than last year) and during that time it has borrowed an average of $4.8 billion dollars a day.
30 years ago, the U.S. national debt was about 1.1 trillion dollars.
Now it is more than 16.3 trillion dollars.
To get an idea how much money 16 trillion dollars is, just watch this 2 minute video.
How could we be so stupid?
Yes, much of America is still experiencing “prosperity” right now. But it is a prosperity that has been fueled by the greatest debt bubble that the world has ever seen.
When that debt bubble bursts the pain is going to be unbelievable.
If you actually believe that America is going to prosper in the years to come, you are just fooling yourself.
Our economy is declining and has been declining for quite some time. If you doubt this, just read this: “34 Signs That America Is In Decline“.
So that is the bad news.
But the good news is that even though the entire nation is not going to prosper, there will be those that will have prepared and that will have gotten themselves into position to take advantage of what is coming. During the coming crisis a massive amount of money and wealth will change hands. Instead of living in fear and cowering under a blanket, now is the time to figure out how you and your family can thrive during the hard times that are on the horizon.
During the economic crisis of 2008 and 2009, there were some people that actually did amazingly well. So don’t lose hope just because the U.S. economy is headed for disaster.
Everything that can be shaken will be shaken. But if you understand what is happening and you prepare for it, the times that are coming can actually be a great adventure and a great blessing for you and your family.
But if you just stick your head in the sand and have blind faith in the system and pretend that everything is going to be okay somehow, then you will be blindsided by the coming crisis and you will only have yourself to blame.
Worst Since WWII: 50% Unemployment: Over Six Million Teens And Young Adults Are Out Of Work And Not In School
Amid a worsening fiscal crisis, a crumbling economy, and the destruction of over 40% of America’s wealth in just the last few years, it should be quite clear that this is no ordinary recession. In fact, with progressively dwindling job opportunities, a long-term downward trend in real estate prices, and the near doubling of participation in emergency benefits programs like food stamps and disability, one could make the argument that the United States is smack-dab in the middle of the next Great Depression.
The notion that we are potentially facing a decades-long paradigm shift which threatens to alter the very fabric of American life is becoming a stark reality for many, especially America’s younger generations who, according to a new report from the Annie E. Casey Foundation, are experiencing the highest jobless rates since at least World War II:
Forty years ago, a teenager leaving high school — with or without a diploma — could find a job in a local factory. Twenty years ago, even as manufacturing jobs moved offshore, young people could still gain a foothold in the workforce through neighborhood stores and restaurants. Amid the housing boom of the past decade, youth with some training could find a career track in the construction field. But today — with millions of jobs lost and experienced workers scrambling for every available position — America’s young people stand last in line for jobs.
Youth employment is at its lowest level since World War II; only about half of young people ages 16 to 24 held jobs in 2011. Among the teens in that group, only 1 in 4 is now employed, compared to 46 percent in 2000.
Overall, 6.5 million people ages 16 to 24 are both out of school and out of work, statistics that suggest dire consequences for financial stability and employment prospects in that population.
More and more doors are closing for these young people. Entry-level jobs at fast-food restaurants and clothing stores
that high school dropouts once could depend on to start their careers now go to older workers with better experience and credentials. It often takes a GED to get a job flipping hamburgers. Even some with college degrees are having trouble finding
The employment rate for youth ages 16 to 19 dropped precipitously — down 42 percent since 2000. More youth than ever — 2.2 million teenagers and 4.3 million young adults ages 20 to 24 — are neither in school nor working.
Additionally, 21 percent — 1.4 million — of those young people out of school and out of work are young parents who must take care of their own needs and those of their children.
In this report, we describe them as disconnected youth. The term encompasses diverse groups, ranging from the 16-year-old who just dropped out of high school and is not working to the 21-year-old parent who has a high school degree and has been looking for work for a long time. They live at home in urban, suburban or rural communities.
Two months ago, there were various prominent pundits who were furiously mocked and ridiculed by those whose job in the media it is to mock and ridicule, for suggesting what most know: that economic data is widely nuanced, massaged, adjusted, goalseeked and outright manipulated by various political interests. That someone would feign outrage by this allegation is laughable at best (and sorry, the “too many people were involved to keep it a secret” excuse is now absolute rubbish following the confirmation of Liborgate, yet another conspiracy theory until it became a conspiracy fact), yet all the “serious” outlets of insight did just that. Now that the election is over, for one reason or another “unnuanced” normalcy is about to strike back with a vengeance, as soon as tomorrow with the official release of November jobs data. And if the just released Gallup unemployment data is any indication, the amount of outright goalseeking by the fine folks at the BLS was nothing short of startling. Because after recording an adjusted unemployment rate of 7.4% in October, the November unemployment rate, based on a random sample of 29,308 adults, soared by a whopping 0.9% in one month to 8.3%, the most since the Great financial crisis itself! And furthermore, at 8.3% the unemployment rate is now the highest since May. Is it time yet for all those sellsiders to admit they were wrong weeks after producing beautiful pitchbooks of how 2013 will be “different this time” and the economy will soar? Or should we wait a few weeks first?
The unemployemnt rate per Gallup: