Posted on 06/10/2016 8:33:26 AM PDT by Lorianne
The employment figures have turned into one giant inside joke. The mainstream press living in perpetual bubbles thinks that most of the American public is following one giant conspiracy theory if they don’t simply accept that everything is fantastic in the economy. The funny thing is that the same reporting agency that gives us a low unemployment rate also shows us that a record 94.7 million Americans are not in the labor force. These are Americans that can work but are simply out of the labor force (we are not counting children here). Wall Street and D.C. thinking is that most of this number is made up of “old people” retiring and playing golf in Hawaii with bucket loads of cash. First of all, most retirees are one missed Social Security check from eating cat food from the dollar store. The narrative has fully broken down and that is why we are having such an angry election year. You don’t need to tell Americans that the economy is bad because they are living it. Last month alone those not in the labor force jumped by 664,000. I guarantee you that most of that number is not coming from people entering retirement.
The shadow employment figures
We’ve made the case before that 1 out of 3 Americans is supporting the rest of the country financially. The balance is only getting more tilted thanks to many young Americans struggling to find jobs in the low wage economy.
We now have a record number of Americans not in the labor force:
[charts]
numbers get funky here because of how they look at retirement. We have clear evidence that many are not retiring into the sunset:
“(CNBC) On one hand, there’s plenty of evidence that financial pressures on retirees are growing. The Willis report suggests that more than one in five men age 65 and older are still working today, for example.
“Research suggests average retirement ages are moving in an upward direction,” said Steve Nyce, a senior economist at Willis Towers Watson. “How steep that will be depends on policy changes regarding Social Security as well as other factors like global growth.”
In other words, people are too broke to retire. And many others are retiring to a life of cereal and coffee. This is the group that the media is telling the public “not to worry about” because out of those 94.7 million not in the labor force, most are enjoying a wonderful retirement in their made up world. Clearly that is not the case.
You have to wonder what this means for the country. Survey after survey finds that most Americans are dissatisfied with the economy. The stock market is near a record but half of the country doesn’t own one stock. Housing prices are up but the homeownership rate is near a generational low. The housing issue is largely due to banks and investors buying up properties during the crisis (brought on by banks and Wall Street in the first place).
We now have another record for those not in the labor force. Let the spin begin.
If people get laid off over 50 no one will hire them. There are people wanting work from 50-70 and good people. No one hires them. Yet they will be more stable than some younger people and won’t have sick kids at home etc.
This for the same month when we “added 38,000 jobs”?
That’s why they (we) drop out of the (official) labor force. One gets tired of nothing but silence or ridicule from hiring departments and recruiters. What the heck, we’ve been sovietized.
The news keeps repeating the 5% unemployment rate. My eye. I just laugh. If it were not for food stamps and SSDI, there would be nightly rioting in the streets. People on the dole dont need to look for work.
The real unemployment rate must be pushing 15%.
Red betrayed their communist foundation, so they abandoned it to try to hide it. They aren’t fooling anybody. We know they are commie libs.
I am fine with the color change. The way I see it is red blood brings lifr giving oxygen, while useless blue blood provides nothing on its return trip. Sums up the sides nicpely. Just once I would like to see a GOP candidate refer to a map and frame it in those term, that the GOP is bringing life giving sustenance to America while the depleted blue blood of the opposition is good for nothing.
Wow! My 15% guess was low. I cant be surprised true unemployment is actually over 20%. That is worse than the Great Depression, we have only masked that with an additional $15 trillion in national debt.
This ends badly. Not in my life time, I hope.
Who does that include? Retirees, people on welfare, disabled people? How do these people live? Just curious...
I prefer to word it as:
The first third do not provide for themselves. The second third barely provide for themselves. The last third provide for the themselves and the first third.
This is unsustainable.
100% correct.
Get rid of the social security and medicaid and watch the “labor force” double overnight.
Yes you are indeed more accurate.
Bread and circuses to keep the mob appeased. The appeasement is delivered electronically to hide it. When the delivery stops, the ferals will hit the streets, stores and government offices. We alresdy have failures to deliver EBT that started this month.
Most companies do not allow you to work at your own pace.You can be the best person, be on time, never take off, never get sick, never make errors....but if you fall below 100 percent you are a lazy buffoon.
Applied at a local Aldi for a part-time 2nd job.
Got told “thanks kid, you’re really polite, but don’t get too eager...I have over 500 applicants...”
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