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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I think the answer is a large number of people are on some type of assistance program or probably several and simply get more "income" from those than from working an honest job...
These people are still counted as "unemployed" and the ones who actually want to work are a smaller pool, hence the need for a job fair...
The way to solve this puzzle is to have a category in the labor statistics that says "vote for a living" and the numbers will make a lot more sense...
So the whole world is going to collapse and the only thing a lot of people will feel is Foolish?
5.56mm
My son was out of work for 4 years, he finally took a job as a corrections officer in the local prison. The prison is known as the toughest one in the state, and his block is the toughest in the prison.It is where they keep the gang members. Last week two officers were hospitalized, one with a sliced face, the other with an injured arm from an inmate hitting her.
He has a job though, one thing about it, even in this obammunism, prisons are recession proof.
BECAUSE our schools have been dumbed down.
http://www.bullittcountyhistory.com/bchistory/schoolexam1912.html
Check out this 8th grade test from 1912, BEFORE the liberalization of our schools.
Because our education system stopped turning out engineers, and started turning out experts in womyn’s and homosexual history instead.
http://www.freerepublic.com/focus/f-news/3151710/posts
Unemployment Drops to 0% as Last Worker Leaves Labor Force
The People’s Cube ^ | May 3, 2014 | Opiate of the People Posted by 4Liberty
Comrade Barack Obama today became the first to achieve a milestone coveted by enlightened central planners everywhere when the Bureau of Laborious Statistics announced the much-followed totally-meaningless “headline” U3 unemployment rate for last month was ZERO PERCENT! This means that the glorious economic recovery he engineered after the disastrous Bush years has now attained FULL EMPLOYMENT!
It is a tribute to Professor Obama that he was able to find the Holy Grail which eluded history’s greatest economic thinkers such as Lenin, Stalin and Mao. This landmark achievement along with his establishment of free healthcare for everyone via the Affordable Care Act cements his reputation as the Greatest Leader in this or any other universe for all time.
The dramatic moment occurred at 12:03 PM, four weeks to the day after Lyman Yilk, a pipe-fitter from Bittcling, Pa, finally gave up looking for work. Mr. Yilk has been unemployed since 2005 but was on a celebratory bender since the day after Mr. Obama’s first election and did not know that the Keystone Pipeline (which Mr. Yilk was hoping to find work on) had been cancelled due to environmental concerns. When he finally sobered up four weeks ago and learned the project was dead, he abandoned his search to find a job.
Mr. Yilk was the last worker to leave the labor force and turned the lights out as he left. According to the BLS definition:
Quote: U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks. Without Mr. Yilk, there was no one actively looking for work any longer, hence the U3 rate was now ZERO PERCENT, praise Obama!
Gloom-and-doom naysayers were quick to note that the labor force participation rate had also dropped to zero percent which (according to them) was not a good thing as it meant no one was employed. Comrade Nancy Pelosi countered their racist, straw-man argument brilliantly by observing that it also meant no comrade was any longer “job-locked” and each was free to be an artist, writer, hooker, etc, and pursue their passion.
“There is no underestimating this tremendous achievement of Barack Obama” said Paul Klugeman, an expert on hiding declines and fudging economic statistics as well being the self-proclaimed “Conscious Liberal”. “Comrade Obama has achieved the socialist dream of freeing all of The People ™ from the slavery of work and permitting them to live off of someone else’s dime as god, if he existed, would’ve wanted.”
Dr. Klugeman was asked if a problem would arise due to the fact that since no one was working, there would also be no one to pay for the benefits that all the non-workers were collecting.
“Nonsense”, he proclaimed. “The Fed will simply print money for artists and writers and hookers to use to buy things from China! What could go wrong?”
It seems so simple now, it’s a wonder no one ever thought of it sooner.
“The genius of Dear Leader Barack Obama lies in his simplicity”, said Dr. Klugeman.
We agree.
What is even more amazing than the results, the poll was conducted and edited by the Obozo loving/adoring ComPost and ABC!
She sends it to the left wing fishwraps in her state when the liberals who control her state, county and city start whining about needing more for the poor.
bkmk
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