Skip to comments.These 5 Facts Debunk U.S. Jobs Recovery Myth
Posted on 09/06/2014 4:15:34 PM PDT by Hojczyk
For all recoveries since World War II, cumulative job growth has averaged 12.5% (see chart). This time, job growth is just 6.2%, the worst on record. Based on this, we would need 8.19 million more jobs just to reach "average." That's not a real job recovery at all.
The labor force shrank 64,000 in the most recent month, pushing the participation rate to 62.8%. The last time it was that low, Jimmy Carter was president.
A new report says 1-in-3 workers today is a "freelance" that means 53 million workers without a regular job to go to. This is what qualifies as "employment" in the job-barren Age of Obamanomics.
In August, the number of hours worked a proxy for GDP growth and average hourly wages both rose 2.1% from last year. That only barely beats the current inflation rate of 2%. Not much growth there.
New data from the Fed show that only the top 10% of American earners have seen their incomes rise under Obama. The rest of us have taken a pay cut.
The purpose of this exercise isn't to bash President Obama. But it's curious that someone whose policies have so clearly failed would double down on his mistakes, prolonging America's economic misery. Despite 0% interest rates, $7 trillion in added debt, more than $1.5 trillion in stimulus, and the Fed creating more than $4.5 trillion in new money out of thin air, our economy just stumbles along.
Those hoping for a sudden burst of job-creating growth aren't likely to see it until there's a change in Washington. Until then, keep the champagne on ice.
(Excerpt) Read more at news.investors.com ...
It's what sociopaths do.
And it's from the BBL, too.
Interesting to read an article that takes the hooey and turns it inside out.
The self censorship and advocacy of todays news media is proving lethal to our lives & liberties.
All Americans should be scared to death at the death grip the MSM has on the flow of information. The flow of facts Americans need to self govern.
The self censorship and advocacy of todays news media is
proving lethal to our lives & liberties.
May the MSM suffer for what they’ve done to our country.
Oh man I have to sit down. Lying to us? This changes everything.
Not that the libbots care. They just repeat whatever they’re told to say.
Also not mentioned is that the percentage of “job growth” this time is far more part time, low paying jobs than any other “recovery” in history. Many decent jobs went away and are never coming back.
Re freelancing, craigslist “gigs” sections are cluttered almost beyond use now with nearly uncountable ads for Uber / Lyft and their ilk.
And that’s pretty much what Silicon Valley job creators are creating these days, just various versions of on-call “jobs”. There’s now on-call cleaners, on-call dog-sitting, on-call delivery services, and on-call grocery delivery, and you can bet your bottom dollar that you can’t make a living at any of them.
Every jobs report I’ve looked up has gains of twice the part-time as losses in full-time.
It's amusing to see journalists trying to figure out why Obama is "doubling down on his mistakes." Media everywhere won't comprehend that this is all intentional.
Yep great recovery.
I got my first raise in over three years yesterday. It was only 2.5% but I was pleasantly surprised.
I was expecting another goose egg. The company has had a bad summer.
I work for an electric utility and the cool summer has meant low sales.
Low sales and the Obama War on Coal has hurt the company bad.
Eventually the War on Coal is going to hit energy prices hard and there could be a real jolt to the overall economy
There is very little the federal government says under the 0bama regime that can/should be believed.
If all Americans were "scared to death at the death grip the MSM has on the flow of information, there wouldnt be anything to worry about. The problem is precisely that so many Americans take a What, me worry? attitude toward the journalism monopoly. As Adam Smith pointed out, there is a straightforward reason why journalism behaves as a monopoly:People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the publicThe Associated Press newswire is precisely a continual, nonstop conversation among nominally competitive journalism outlets - and not for merriment or diversion. but precisely about the business of journalism. The direct and inevitable consequence is a conspiracy by journalists against the public. The result of which is the promotion of the influence of journalists - that is, of people who are critics and not actors whose decisions have consequences - at the direct expense of the man who is actually in the arena, and thus at the very real expense of the public. This produces a pro-socialist propaganda wind, which so-called liberal politicians exploit.
My idea of the way to attack that cabal would be to sue journalism in general by suing the Associated Press and its members, joint and several liability, and also name the FCC for encouraging broadcast journalism even as NBC shortens the Zimmerman tape by editing out an answer and then a question, and the active case of the moment where pro-thug activism has resulted in looting. And how many others? Duke Lacrosse, Rathergate, etc, etc. This should be a RICO civil case, claiming triple damages. The claim should also be lodged against the FEC since its very existence is predicated on the absurd conceit that journalism is objective.
Most of the ones I see under gigs are for women for adult movies.
There used to be some decent technical and creative gigs.
Energy costs are part of what is killing the place where I work.
That is part of the reason but not the only one where a couple hundred or so are going to get the cut next year. A new processing plant is being built that will be automated to the nth degree.
Most are going to be the hourly people but a segment of the salaried types are up for targeting. The announcement for voluntary separation applications came out Friday.
” Many decent jobs went away and are never coming back.” And that’s not mentioning the fact that The One’s tax policies are causing companies to leave the U.S. for friendlier tax domiciles.
A couple of hundred middle management personnel are getting the axe at my sister-in-laws company.
The Obama economy seems to be designed to shrink the US labor force.
Obammy and company are LIARs and are full of crap
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