Posted on 11/04/2016 9:16:28 AM PDT by rktman
Everyone knows the economy isn’t as strong as it was 10 years ago or 20 years ago, but the data released about the labor market every month have indicated slow but steady progress in putting every American who wants a job back to work.
(Excerpt) Read more at marketwatch.com ...
Riiiight. Unless you’re over 50...
The article is just so many horse biscuits.
The “jobs” created are less than full time, largely confined to service industries, and overall at a much lower pay rate than was the normal range only eight years ago. And it is a lower number than the total of new applicants coming on the work market to the first time, offset by the number whose jobs have DISAPPEARED altogether.
SINGLE-——Not SINGEL. Fat Finger Syndrome strikes again.
Yeah - the market folks are trying their best to spin crap into cotton candy....
Yea things have never been better. My husband is disabled and was working 25 hours per week until his company shut down in early 2010. Nobody wants to hire a 50 something disabled machinist. In fact, nobody wants a 50 something employee. I have crippling arthritis and recently had my 7th hand surgery in less than 10 years to correct a failed thumb fusion I had in January. Waiting to have back procedure to reduce pain from broken facets due to osteoporosis. Just received notice my insurance premium will rise $50 per month next year. There is nothing else we can cut back on. This will cut into our food budget bringing it to less than $200 per month. Our savings are dwindling. We live in rural area so a car is absolutely necessary. Our car has 300k miles and the engine light is on. We are putting off getting a car because we don’t want to spend the money and higher car insurance premium would hurt us even more. We flea market in the summer to make a few bucks....but even that has been slow this past year. People are not spending. Nobody has extra money.
But hell, things are great. Taco Bell is hiring. Lets bring in more foreigners.
This is actually an excellent metric, far more useful than the “unemployment rate”. Its also actually comparable across economies, the normally posted US unemployment rate is useless for that. Most countries have a much broader definition than the US. If the US did this as Britain does, for instance, the US would be close to 10% unemployment.
The only problem I have with the article is I prefer the 16-54 band, as the effect on youth unemployment is the most significant.
Employment HAS been very slowly recovering, as seen. But it is a VERY slow recovery and is nowhere near recent (post 1990) levels.
Also not mentioned is that US employment rate was normally extremely high vs all the G20 countries, the US being at the top, in the 1990’s for instance. In the last 20 years the US has fallen below all the top (per capita) economies - Germany, Japan, UK, Netherlands, Canada, Australia, etc.
The US is now in a middle place above the Latin countries - France, Italy, Spain, traditionally with much lower employment/labor force participation.
The other point is that the next downturn after this “expansion” is due, and the employment rate is likely to collapse again, to an even lower band.
Your story got me right in the, ‘feels.’ :( Prayers up for you and yours. I’ve got nothing to complain about.
Though, of course, I do. ;)
I understand your problem.
This IS a very variable thing by location, and there are several places where qualified machinists are in demand. But this would probably require moving quite a distance.
But the real sufferers from all this, statistically, are the young. Hardest hit are the 16-24 kids, they are unable to get a start in life.
Thanks Diana. Hope all is well with you. Of course, there are thousands who are worse off than me. I cannot imagine having a family and going thru such hard times. Our nation, especially our youth, are hopeless.
Hoping and Praying we right this wrong next Tuesday.
Source data: http://www.indexmundi.com/united_states/demographics_profile.html
I went to the above web page to find the number of people that were 21 years old in the United States. It wasn’t the only page I went to. They all seem to provide the information in age blocks. This one had a demographic set up for 15 to 24 year olds.
I took the number in that group (43,612,557), and divided by 10, the number of years in that group. Of course this gave me 4,361,256 (rounded). This would be the average number of people in the group 15 to 24 years of age.
I then took this number and divided by 12. This would be the number of new jobs that must be created each month, to hire on 4,361,256 people in a year. (And we have to hire on that many, because 4,361,256 people turn 21 each year.)
That figure worked out to be 363,438 (rounded).
So folks, when someone tells you we only need to create 16,000 new jobs per month to keep things where they are, what are they doing? They are lying to you.
We need to hire on 363,438 new people every month, and every month that number grows with the population.
Of course this totally ignores all the folks we have out of work. To get them back to work, we need to hire on more than 363.438 people each month. And the more we do, the fewer folks will be sitting idle in the United States.
Under Obama we have failed miserably at keeping people employed. By example, this month we add just 160,000 new jobs. That means that our idle body count went up by 203,438 people this month alone.
Hillary Clinton’s big claim, she will continue Obama’s policies forward. I guess that’s great if you want to see the idle body count go up by 200,000 plus each month. I don’t.
I have one word for you.
Trump!
But the real sufferers from all this, statistically, are the young. Hardest hit are the 16-24 kids, they are unable to get a start in life.
I agree. Like I said, a nation of hopeless youth. Cannot find jobs, cannot move on their own, cannot get married or start a family. Their future looks bleak. So they turn to drugs or whatever to tune out. Is it any surprise the heroin epidemic is as big as it is? These kids got nothing!
LMAO today as the MSM and Dims carry on about 161K Jobs added!
Prayers up for you and your husband.
*Hoping and Praying we right this wrong next Tuesday.*
*BUMP*
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