Posted on 04/10/2016 4:26:58 PM PDT by Lorianne
Donald Trump managed to shove his way into the spotlight again last week, claiming the US is heading for “a massive recession.” Unsurprisingly, the mainstream media scoffed at Trump’s assertion, pointing to the “great jobs report” that came out Friday.
The report did show the US economy added some 215,000 jobs, slightly more than expected. But once again, the headlines only tell a little piece of the story. And once again, most mainstream media and financial analysts are ignoring the bigger picture. In fact, all of the positive spin about a great employment outlook is nothing more than an April snow job. As Peter Schiff succinctly put it in his recent podcast, this was not a good jobs report:
We added the jobs we don’t want; we lost the jobs we do want. That is the real story. It’s the story nobody wants to tell. Everybody wants to talk about the number as if this is some kind of economic miracle.”
As was the case the month before, part-time jobs drove the increase. When you dig into the numbers, you find 127,000 of the new jobs went to people who already had at least one job. In other words, 60% of the new jobs were filled by people who were already employed. That means the vast majority were part-time. That doesn’t take into account people who had no job and took a part-time job as their first job. So well over 60% of the new jobs added in March were part-time jobs.
When you break it down, the full-time unemployment rate rose from 4.9 to 5.1% while the part-time rate dropped from 4.9 to 4.8%. Meanwhile, the 29,000 manufacturing jobs lost was the highest number since 2009.
Peter gave the perfect explanation for what’s going on with the job market in his podcast.
Those [jobs lost] are our best paying jobs. At the same time, the number of waiters and waitresses surged to an all-time record high. This is what’s going on. Let’s say you’re a waiter and your employer will not let you work full-time…because he can’t afford the benefits; he can’t afford the Obamacare…What do you do? You find another restaurant and you get another part-time job. That’s why we created 215,000 jobs.”
snip (there is more)
Service sector jobs...
Shipping our good jobs overseas was just the ticket according to freetraitors.
Anyone who believes numbers, statistics or the pronouncements from Federal agencies controlled by Obama’s commissars for the past seven years is a fool.
Worst economy in 50 years. No wait, that’s what they said after it recovered but Clinton was running for pres.
Mark Twain
Yet more evidence that the U.S. Government of 2016 is uncomfortably and increasingly resembling the old Soviet governments.
What we need is a Five Year Plan.
Figures don’t lie but liars can figure.
Our Leftist government won’t be satisfied until the economy lies in ruins and everyone is forced to suck the federal teat for survival.
Then the pols will have the power they so crave.
We’ve had an attempt at an 8 year plan. What’s 5 more?
We’ve tried that for four cycles now.
How has that worked out?
40 - 90 million unemployed! That’s about 22 to 55% unemployment.
What does it take, 90% unemployment before some folks think it’s time for a change?
Absolutely. Only the government can save us. Those “freetraitors” need to be rounded-up and shot.
Frankly, I’m about to that point.
I read that the Fed recently held an “emergency meeting”.
Well said.
Me too. And I will relish the irony of using free-trade Russian ammo.
Taint no problemo, U do my laundry, I shine your shoes n was ur car..WE bote get rich ,,,
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