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Watching the Economy Crumble Paul Craig Roberts Wednesday, Aug. 10, 2005 The United States continues its descent into the Third World, but you would never know it from news reports of the Bureau of Labor Statistics' July payroll jobs release. The media give a bare-bones jobs report that is misleading. The public heard that 207,000 jobs were created in July. If not a reassuring figure, at least it is not a disturbing one. On the surface, things look to be pretty much OK. It is when you look into the composition of these jobs that the concern arises. Of the...

The United States continues its descent into the Third World, but you would never know it from news reports of the Bureau of Labor Statistics' July payroll jobs release. The media give a bare-bones jobs report that is misleading. The public heard that 207,000 jobs were created in July. If not a reassuring figure, at least it is not a disturbing one. On the surface, things look to be pretty much OK. It is when you look into the composition of these jobs that the concern arises. Of the new jobs, 26,000 (about 13 percent) are tax-supported government jobs. That...

For education and discussion only. Not for commercial use. Oct 7 - A new report found that layoffs reached an eight-month high in September, while new hiring rose only slightly. Employment consulting firm Challenger, Gray & Christmas Inc. said companies announced 107,863 layoffs in September, 45 percent more than in August. The figure was the largest since January, when employers laid off 117,556 workers. Meanwhile, employers hired only 16,166 new workers, compared with 132,105 in August. The computer, transportation, telecommunications and consumer products industries were particularly hard hit by the cuts. "Historically, the period from September 1 through December 31...