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.
But I feel so happy because I can watch ESPN nonstop and root for my favorite NFL team every year.
Temp jobs at $9.00 to 10.50 an hour...most hard labor. Most people walk of the job or are laid off because of unrealistic labor demands. Amazon is an example. Revolving door. Staying 4 or more years is too long.
I don’t think people should quit working cold turkey. It should be gradual and Social Security was only meant as a supplement. I say take that low wage job at age 65 for 20-30 hours per week and enjoy life.I think it’s possible.
Yet I look out my window and I see no staving beggars.
I don’t think I will ever fully retire. I watch my dad since he retired and I just can’t see myself going there. He putters around the house all day trying not to annoy my mom. I’d go insane!
There are plenty of jobs out there per Mike Rowe but we have a skills gap and people would rather sit on their ass collecting a check instead of welding or carpentry.
Recovery Summer!
So two thirds of the population is providing for themselves along with the other third not providing for themselves. This is unsustainable.
Lorianne and all,
It astounds me that the mainstream media conspires to suppress real analysis of the true state of this economy.
You would think that there would be enough decency and long range concern about our children’s future to bolster a resolve for truth at least for the sake of the well being of our republic.
I cannot imagine editors and journalists are too stupid to not be curious and dig into gov’t statistic lies.
The PowersThatBe-DNC cabal controls all of the establishment media and academia (including most University Economics departments).
We’ve been Sovietized right before our very eyes.
The real unemployment rate using pre-1983 metric measurements is currently at 23%.
If it weren’t for EBT, Section 8, SS disability, food banks, and credit cards - resulting social unrest riots would have us in an ongoing state of emergency.
True state of economy is masked by media and modern discrete welfare aid:
The real unemployment rate using pre-1983 gov’t metrics measurements is currently at 23%.
If it weren’t for EBT, Section 8, SS disability, food banks, and credit cards - resulting social unrest riots would have us in an ongoing state of emergency.
RE: “Yet I look out my window and I see no staving beggars.”
Have you noticed they will never use the word ‘unemployment.’ They use ‘jobs’ as a synonym. So it’s not a unemployment report, it’s a jobs report. Drives me crazy.
Geez are you an astute observer!
That’s right, now that you mention it.
Doublespeak from the Ministry of Truth
Also, note that the Global warming hysteria became renamed “Climate change”.
Has anyone wondered how the hell manipulative lying leftist bass turds can look themselves in the mirror each day as they spin their lies in order to deliberately march us into social-economic-political disaster?
RE: “Have you noticed they will never use the word ‘unemployment.’ They use ‘jobs’ as a synonym. So it’s not a unemployment report, it’s a jobs report. Drives me crazy.
It’s been causing dissonance for years with me, I’ll hear some hack say “we want to be really focused on jobs” or “my first priority is jobs” and it’s tortured linguistically but I finally realized it was to avoid uttering the word ‘unemployment.’ You’ll hear it all the time now.
I worked in electronic recycling and resale under what was near sweatshop conditions. There wasn’t anything else at the time. I survived almost 2 years. Most people lasted weeks.
Am I supposed to believe all these folks are simply lazy? Or is this just another clear indicator of decades of loser leadership?
And growing.
How much “investment” in the jobless can we afford?
Social Security and the IRS know the real employment numbers but no
journalfools ever query them.
total 6.4 million people forced into part-time work
That cuts their pay by over 10 hours a week and also means no benefits like healthcare from the employer any more.
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