Posted on 05/03/2014 9:30:16 PM PDT by 2ndDivisionVet
Mainstream financial pundits are falling over themselves today following a report from the Labor Department indicating that the national unemployment rate has fallen yet again, this time to just 6.3%.
The Associated Press, whose report on the new rate is being distributed to news services around the country, says this is “the strongest evidence to date that the economy is picking up.” They cite numerous economic experts, claiming that the U.S. economy is now experiencing vigorous job growth, which they say is confirmation that the economic health of our nation is bouncing back from a rough winter. In fact, they mention bad “weather” and “winter” eight times in a single article just to make sure we understand that the problems we’ve seen over the last few months were seasonal.
But, as is generally the case with mainstream assessments and government statistics as of late, the devil’s in the details.
The drop in the unemployment rate from March’s 6.7 percent came as the agency’s survey of households showed the labor force shrank by more the 800,000 in April.
The participation rate, which indicates the share of working-age people in the labor force, decreased to 62.8 percent, matching the lowest level since March 1978, from 63.2 percent a month earlier.
Thus, while U.S. companies added some 288,000 jobs last month, three times as many people were dropped from the official unemployment statistics and are no longer counted in the labor pool.
At this rate we’re well on our way to achieving the Communist dream of 0% unemployment before the end of the President’s term.
Karl Denninger looks even deeper into the report at Market Ticker and points out that, while jobs were created last month, the claims of vigorous job growth are not even close.
Uh oh. Yes, that headline number looks good. But April is usually good, and that’s where the rubber meets the road; on an annualized basis we actually saw deceleration. Funny how that works, isn’t it?
That’s right. That little down-hook in the above chart says it all. We’re creating jobs at a slower pace now than at the same time last year.
Contrarian economist John Williams suggests the the government’s numbers are not even close. At his web site ShadowStats.com Williams calculates the rate of employment using the same methods that were used prior to 1994 when they were officially defined out of existence by bureaucrats looking to pad the numbers.
According to those numbers, we’re looking at an unemployment rate of over 23%.
As the above chart shows, nearly one in four Americans are without work. That’s quite a disconnect considering the government’s numbers are off by about 265%!
Moreover, how is it possible that our economy is officially growing, while everyone in 20% of all American family households is unemployed?
According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working.
So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh. One-fifth of the families in the entire country do not have a single member with a job.
On top of that, nearly 50 million people are actively receiving food assistance – fully one in six Americans.
Yet, the stock market hit all time highs just this week.
Something isn’t right, especially if you take a look at the following chart which shows that America’s leading companies showed nearly zero earnings growth in the first quarter of 2014:
So, while the experts from the government and private business bloviate over the rigorous health of our economy and the success of President Obama’s policies, it’s important to keep in mind that they are doing their damnedest to bury the real story.
That’s because reality isn’t a fairy tale and as we have noted on numerous occasions it will end with the total detonation of the U.S. economy and financial markets, likely leading to a variety of serious issues that include a collapse of our currency and widespread impoverishment of the majority of people in this country.
What will follow will be nothing short of a total collapse of our way of life, so much so that Richard Duncan, author of The New Great Depression, suggests our entire civilization is in serious trouble:
If this credit bubble pops the depression is going to be so severe that I honestly don’t think our civilization can survive it.
When it does finally buckle, as noted by well known investor Doug Casey, it will be unstoppable and the speed of it will leave most people waking up to the danger after it has already happened.
How long the illusions will continue is anybody’s guess, but it should be clear that what we’re seeing from our government and their propaganda arm in the media is nothing but conjecture.
When the trick is finally revealed a whole lot of people are going to feel quite foolish.
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Anyone who accepts “official” statistics from the Federal government after five years of control by the commissars is delusional.Obama lies.Period.
40 million uneducated criminal aliens will fix it. How could you NOT focus in immigration/amnesty at a time like this? We’re going for the all-time SNAP participation record baby!
The liberals and the liberal media can spin it for maybe a few more years but there is no way they can spin it for six more.
If Hillary is elected, she’s either going to have to blame Hussein obamar or accept blame herself.
Sooner or later, the ugly truth will rear its ugly head.
The unemployment rate where I live is 40%. I’ve been told that by local business owners. The following is a good example of how the Democrat controlled government agencies are facilitating the unemployment rate lie of around 8%.
My 22-year old nephew is unemployed so he went to a hiring fair held by Weyerhaeuser at the local county expo center. What he discovered was a huge throng of people.
One of the Weyerhaeuser HR people told him that the crowd was five times what they expected. My nephew was told to come back the next day.
Will he have a chance? I don’t know, but there were hundreds of people there, and the mills are decent employers providing job security.
I’ve wondered at the necessity of job fairs in times of high unemployment. Spending money to find employees when employees are not hard to find doesn’t make sense. Doing so in times of low unemployment or in regions with low unemployment makes sense.
With all the high unemployment numbers why is it my company cannot find qualified engineers to work for us?
When hundreds showed up, they were surprised.
Where are you located?
My comment holds true to three locations: Houston, Tulsa, Phoenix.
If we are too busy fighting that 40 million poor criminal element for our survival then we won’t be able to fight the real enemy. A portion of the 40 million will be used as a death squad against any freedom loving American that are willing to threaten the political/police state. No ifs, and or buts.
Take the recent ranch stand off. In the future, the new courageous illegal (amnesty) death squads will visit in the dark of night. No news, no questions, no fuss but the fear and message will be sent. The oligarchy will kill millions to stay on top.
But brawndo has what plants crave. It’s got electrolytes.
http://www.youtube.com/watch?v=-Vw2CrY9Igs
The big employers here in the Pacific Northwest are always looking for engineers, too.
I’ve noticed that they have specific requirements, mostly having to do with very recent innovations, that many unemployed do not have in their skills record. A short period of training would be required for the new hire, and most businesses want a newly hired engineer to hit the ground running, so to speak.
!
Bump
I’m having similar issues in Ohio. What I’ve discovered is most either don’t trust things to stay stable enough to warrant the move or are still underwater in their houses to the point they’re stuck in a certain geography. Then there are the idiots but most of those I screen out early just through resumes and it’s a pretty low percentage. I do have a specific skill set but even then...
the left is famous for faking it. their motto is ‘fake it until you make it’
the stats they’re pushing, and the obligatory dissemination of the information far and wide, is an attempt to create reality... at least in the short term.
the problem is, you cannot keep faking it forever. in order for this trick to work, there needs to be some substance to build on.
unfortunately, progressives are lacking in substance... which is why they always resort to force
the one thing people fail to realize is, there are lots of people looking for work. looking for leaders that have an idea, a vision, that will result in a sustainable livelihood
what people need are leaders
unfortunately, the left has been doing everything they can to snuff out the spark of leadership from America’s children for decades. the goal is to make everyone dependent on fedgov... which gains power as those same people vote for their subsistence
want leaders? make the effort worth while. when 2/3s to 3/4s of your week goes to fedgov, it undermines the drive and motivation. reduce taxes from the 61-75% load it is now to a more reasonable flat 20% and you’ll see people stepping up.
of course, fedgov will NEVER let that happen... as that tax load is the source of their power. reducing taxation would reduce their power. and they’ll do everything they can to hold onto it
Why? Because the US colleges/universities are pumping out kids who are “experts” in liberal arts, cultural diversity, and homosexual studies.
This is why so many companies cry for H1B visas to be increased.
In my company, most of the young engineers are foreigners or 2nd generation immigrants.
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