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)
LOL
Yes, we sure do.
Barter is going to make a big comeback folks.
Who’s patronizing the bars and restaurants that are hiring, retirees? Or have people largely abandoned cooking and eating at home?
Just wrapping up my DC tour and to listen to the afro-centric tour guides and see all the construction going on in the beltway, they truly believe Obozo is the greatest prez ever. My tour of Monticello was sullied by all the hand wringing doctorate degreed curators who were whipping up the white guilt over the “enslaved people.”
Meanwhile my own lying eyes were reading the information boards about how Jefferson’s workers traveled to Paris to learn the culinary arts, owned fine china and sold their wares on the side for pocket money.
“Barter is going to make a big comeback folks.”
Doo dat be like booze n bullets ?
Tis interesting just how history is being OBAMANIZED is it not?
I’ll help you build your addition with my know-how and labor, if you help me put in a pool with your know how and labor.
Haven’t you heard? Every state, city, and town has their own versions of 5-year plans. It’s called economic development, and it’s really cool. Politicians and chamber of commerce types and their families get to take vacations at taxpayer’s expense and schmooz with their counterparts there to “learn” stuff. They also use money taken from local businesses to bribe other businesses to come to their town. Of course, it all falls flat in the end. Government can’t create prosperity; it can only destroy it.
You’re right; anyone with eyes (especially in the northeast) can see it is nonsense. Here in NJ, the closure of several casinos over the past few years was a real indicator - the good times are gone. While the media attempted to gloss over it at the time, they are now reporting that Atlantic City still needs a sugar daddy to pay their bills...
Trump called it as it is - Cruz probably claimed Trump was trying to make things crash - there’s a few new truths that we dare not utter than just terrorism by Islamists...
“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.”
Just wait until $15 min wage starts kicking in, there wont even be waiter and waitresses jobs.
Yep me and hubs were on the verge of hurling.
Here was the very ground that the ingenious founding father had trod upon and most of the tour guides were giddy with delight explaining his dalliances with the servant women. The white guilt was palpable on all three tours we took. Of course their were the obligatory black tourists who were too tired and cold to visit any monuments other than anything MLK related.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.