Sicilianthing

More data is coming but he’s some really good Stats to chew on...


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The Truth About The Employment Numbers – Nearly 102 Million Working Age Americans Do Not Have A Job Right Now
BY: MICHAEL SNYDER
JUNE 2, 2018

Don’t get too excited about the “good employment numbers” that you are hearing about from the mainstream media.

The truth is that they actually aren’t very good at all.

For years, the federal government has been taking numbers out of one category and putting them into another category and calling it “progress”, and in this article, we will break down exactly what has been happening.

We are being told that the U.S. unemployment rate has fallen to “3.8 percent”, which is supposedly the lowest that it has been “in nearly 50 years”. If these were honest numbers that would be great news. But these are not honest numbers…

Let’s take this one step at a time, and we are going to use the Federal Reserve’s own numbers.

According to the Fed, there were 6,065,000 working age Americans unemployed in May.

That would be an excellent number if it was an honest number. But of course, that number does not tell the whole story.

We also have to factor in the other category of working age Americans that are not currently employed. They are not considered to be “officially unemployed” because they are considered to be “not in the labor force”.

According to the Federal Reserve, 95,915,000 working age Americans were “not in the labor force” in May.

That is an all-time record high, and this is how the federal government has been making the employment numbers look so good. The number of Americans that are “officially unemployed” keeps going down, and the number of Americans “not in the labor force” keeps going up.

When you add 6,065,000 and 95,915,000 together, you come up with a grand total of 101,980,000 working age Americans that do not have a job right now.

So we essentially have 102 million working age Americans that are not employed, and that is the same level that we had four years ago.

And back during the peak of the last recession, the number of working age Americans without a job never surpassed the 100 million mark.

That means that there are more working age Americans without a job right now than there was at any point during the last recession.

All of those economic optimists out there should chew on that number for a while.

According to John Williams of shadowstats.com, if honest numbers were being used our unemployment rate would be somewhere around 21 percent at the moment. That is a slight improvement from the 22 percent level that we were at not too long ago, but it is not nearly good enough.

So please don’t try to convince me that the U.S. economy is “doing well” until we can get the number of working age Americans without a job under 100 million.

Meanwhile, Americans continue to spend far more money than they are making. In fact, Americans have now been spending more than they are making for 28 months in a row. The following comes from Zero Hedge…

For the 28th month in a row, YoY growth in spending has outpaced incomes, sending the savings rate back down to just 2.8, the lowest since the debt-funded holiday spending spree of December 2017, and just shy of record lows.
Spending YoY is the highest since April 2017:

Adjusted for inflation, real consumption rose 0.4%, double the median projection of 0.2%. The Commerce Department said spending for gasoline and other energy goods, as well as household utilities, were leading contributors to the monthly increase in real outlays. Real durable goods spending, rose 0.3% after a 1.9% increase in the prior month; nondurable goods advanced 0.4% for a second month. Outlays on services, adjusted for inflation, rose 0.4% after a 0.3% gain in prior month.

Obviously, this is not sustainable.

And in the final analysis, there is really nothing sustainable about our current economic situation. We are in the terminal phase of the greatest debt bubble that humanity has ever seen, and there are an increasing number of indications that the party is about to come to a very abrupt end.

We have never recovered from the last recession, and all of our long-term financial imbalances have continued to get even worse. For the moment, much of the country is enjoying a debt-fueled standard of living that they do not deserve, and most of them have absolutely no idea that there is no way that this state of affairs can continue for much longer.

As individuals, we simply cannot consume far more than we produce indefinitely, and the same thing is true for our nation as a whole.

Time is running out, but most Americans are completely oblivious to this very simple basic fact.

Article posted with permission from Michael Snyder

Loki Loc: Georgia

As of 2014, there were about 245 million adults living in the US. About 46 million of them are over the age of 60. About 40 million over 65.That leaves about 205 million working age people in the US.
If your stats were correct, the unemployment rate would be over 50%.
You should cross check with the US Census. and the Bureau of Statistics.

Sicilianthing

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Well I can see your point but I no longer believe their stats, those agencies.
If we have 22million + illegals here
Millions of Muslims also unaccounted for
Millions of other scumbags from all over the world here unaccounted for
I can go on and on
20Million+ Asian illegals here unaccounted for you just made up almost half of the shadow stats you’re talking about...

The real numbers are closer to what is in this Topic in my conclusions, I’ve seen this data in many places.

Also working age is really about teenagers through 60something years of age... a large swath of our population.

bmac32 Loc: West Florida

Dig deeper, those numbers are from May 4, 2014.

Sicilianthing

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They haven’t changed much in 2016 when Trump ran and only 2million have gotten shitty low pay jobs in 2017
And now in 2018 it’s still about 90+million not on payroll records so far...

There are 10’s of millions of others unaccounted for...

Numbers USA.com published a few days ago 50million American Working age people without jobs and the GOP wants to import more Scumbags instead of employing us...

There are no excuses
No more spin
No nothing

More stores are closing
More companies going out of business, consolidating, merging, closing locations, liquidating, selling out to competitors etc...

Trump boasts with the BLS that they created 245,000 manufacturing jobs in 1st quarter but they don’t tell you about the 300,000 lost or the 20million gone since 9/11 or the 2008 crash...

The jobs report is bullshit

badbob85037

Agree.

Chocura750

As I understand it the "people not in the work force" number includes people in school, people who are handicaped, people who stay home to care for relatives, people who are retired and others not working for other good reasons or people who don't have to or don't want to work. Add the total of the foregoing and that will be the total number of "people not in the work force".

It is misleading to use the "people not in the work force" number in commenting on or in examining the health of the economy. The "people not in the work force number" could include millions of millionaires for that matter. It also includes those discouraged workers who have given up looking for work which I understand is a relative small.number under 1 million. Incidentally people in jail or prison are not included in the "people not in the work force" number.

Holdenbeach4u Loc: Holden Beach , NC

Outstanding Posted : I wish it could hit the internet and tell the America people the real truth about the Federal Government the last 50 years ! There are idiots running
the USA but they do not care because they have made millions ! Look at the US Congress most are millionaires or they are well off . Yep

old marine Loc: America home of the brave

Helilord

My family and I immigrated into the USA in 1971. Best thing that ever happened to us.
During our first week here, I attended a meeting of the chamber of Commerce of Long Island , NY, and I'll never forget what the speaker at that meeting said : don't ever, ever, ever believe anything that comes out of Washington DC.
It still holds through

SilentGeneration Loc: Michigan

Do these numbers include the self-employed?

lpnmajor Loc: Arkansas

Folks love to play with numbers, since you can make them say whatever you want. Ever see a package of Turkey lunch meat? The package proclaims "97% fat free!"..............97% of what, lunch meat that's 100% fat?. This isn't false marketing, believe it or not, it's just playing with numbers - Turkey has 3% fat by body weight, so is 97% fat free - compared to a Turkey that has 100% fat by body weight.

Here's another numbers scam; Federal Poverty level (FPL). WTF is that? If a family of 4 is making $50,000 a year in AR, they are actually lower middle class, but that same family would be dirt poor in NY. That stupid number isn't adjusted by region, so really has no value at all. I've seen assistance programs with criteria like "130% of FPL", as though that is adjusting for the region one lives in.

My State changed how it calculates jobs numbers, by changing who it counts as unemployed. I'm sure by sheer coincidence, the change was made in 2016 just ahead of the Nov. elections, so the jobless rate in AR went from 10.6% to 4.8% - overnight. Now that they are requiring folks to work to qualify for assistance, the number dropped to 3.8%, again - overnight. They don't count retirees who work part time as part of the labor pool, but do count younger folks who can ONLY find part time work as though they are fully employed. Anyone who has maxed out of unemployment benefits is no longer counted, as though they miraculously don't need a job anymore.

If those who are under employed ( less than 40 hrs/week ) are counted as fully employed, those who work more than one job are counted as two ( or more ) people, those who no longer qualify for assistance are considered to have dropped out of the job market and are NOT counted, AND new graduates are not counted as having joined the labor pool, then the job numbers look OK. Looking at the number of Americans who need to work, should be working, and/or need MORE work, then the number is closer to 30% unemployed. BTW, adjusting the number of new jobs created by subtracting the job losses ( look at the box stores that closed i.e. Toys-Rus ) every month, then the total is a NEGATIVE number.

The well-to-do are indeed doing better in this economy, but we are steadily losing formerly middle class families to the ranks of the working poor..........no number manipulation can fix that tragedy.

boatbob2

IF,people are NOT working,its because being on the dole (welfare) pays good enough to buy their dope.

Sicilianthing

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The Agencies bankrolled and commissioned long ago into creation for this sourcing were crafted by the usual Suspects Think Tanks for their formulating and (algorithms?)
They’re lying to you and omit a vast amount of other factual data in their final reporting to the WH and the Public.

Sicilianthing

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Yep you’re getting warmer... get mad, stay mad, get even, share it with everyone...

They’re feeding Trump and everyone else a pile of Bullshit !