Patty

More Phantom Jobs Created–All In The Wrong Places


June 6, 2014 | Categories: Articles & Columns | Tags: phantom jobs, | Print This Article Print This Article

More Phantom Jobs Created–All In The Wrong Places
education is not the answer

Paul Craig Roberts

Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 job or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true.

My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com, is that on average about half of the new jobs each month are phantom jobs created by the birth-death model and inappropriate seasonal adjustments. So, I figured that the 217,000 jobs claimed for May are more like 108,000. Then I read John Williams’ report on the May jobs number: “Monthly payroll gains overstated by 200,000 plus jobs”

In other words, there were zero new jobs in May.

Just as the US government can turn an inconsequential Iraq, Afghanistan, Libya, and Syria into dangerous threats against “the world’s only superpower,” the US government can turn zero jobs growth into 217,000 jobs. It is easy when you have a prostitute media and a gullible public, both of which Washington most certainly has.

But let’s take the government data at face value.

First, consider the news report that finally as of May 2014 as many Americans had jobs
as had jobs in January 2008. That might seem like good news until you take into account that since January 2008 the US has experienced 6.5 years of population growth. Economists seem to have settled on population growth adding 129,000 people to the work force each month. That comes to 10,000,000 people. Where are their jobs? The “jobs recovery” doesn’t provide for the 10 millions who have come of working age since January 2008.

We can conclude from this that the official 6.3 percent unemployment rate is nonsense. The unemployment rate is in the neighborhood of 23 percent as John Williams has established.

Just as the US government claims, falsely, that Russia invaded Ukraine and annexed Crimea, that Saddam Hussein had weapons of mass destruction, that Assad used chemical weapons on Syrians, and so forth and so on, the 6.3 percent unemployment rate is just another government lie.

Second, consider where the claimed 217,000 May jobs are. Hardly any of these claimed jobs are jobs in which university graduates begin their careers. The jobs are in wholesale trade, retail clerks, t***sportation and warehousing, employment services and temporary help, waitresses and bartenders, and health care and social assistance. In the later category, ambulatory health care services and social assistance account for the majority of jobs.

If college graduates have jobs, they are not the jobs for which they studied. On March 31, CNN Money reported that 260,000 college graduates were employed at or below the federal minimum wage of $7.25 per hour.

For the many years that I have been reporting on the jobs statistics, there has been scant sign of any jobs for college graduates. Considering that there are at least 3,100 colleges and universities in the US, the May graduating class must number in the hundreds of thousands. Looking at the May jobs statistics, those graduating from law school face a dismal situation as employment of lawyers dropped by 700. There were jobs for only 4,100 accountants and bookkeepers. There were 4,500 jobs for architects and engineers, a number that includes secretaries and office managers. There were 1,800 management jobs. State government education jobs declined by 5,300 and local government education jobs declined by 6,600 jobs. So where did the education majors find employment?

How is the second quarter going to come roaring back, as the financial media assures us it will, when the jobs report is so discouraging? How much longer will Washington be able to hide the fact that the US economy is sinking?

If you read all the bulls**t that the American media and educational establishment puts out, “education is the answer.” Apparently not. Education is the way to become deeply in debt and work for $7.25 per hour, if you are lucky to escape unemployment.

America is a Great Big Lie. There is no t***h in what we are told. The entire country, along with that part of the world under Washington’s thumb, is run for about six private interest groups. The rest of us are being fleeced.
Paul Craig Roberts

Dummy Boy Loc: Michigan

I was stunned to hear PBS reporting this information last night...maybe George Soros's last check bounced?????

Not-a-RINO Loc: Michigan

[quote=Patty]More Phantom Jobs Created–All In The Wrong Places


June 6, 2014 | Categories: Articles & Columns | Tags: phantom jobs, | Print This Article Print This Article

More Phantom Jobs Created–All In The Wrong Places
education is not the answer

Paul Craig Roberts
----------------------------------------------------------------------------------------------------------------
While the MSM sings accolades to this regime, the rest of us who pay attention know their reports do not pass the "Smell Test". For example, to hear "seasonally adjusted" means they are cooking the numbers. It's a fudge factor which really doesn't report the true numbers.

How can the unemployment rate drop when the participation rate drops? (U3 vs U6 BLS statistics) In other words, there are LESS people working, yet the unemployment rate is lower.

What about the millions of workers who got their hours slashed because their employer didn't want to pay for ObamaCare? That really has to "help" the economy when someone goes from 40+ hours a week to 28 and then see the premiums and deductibles are sky high and basically unaffordable. This means families have less money to pay higher costs. Only in Fantasy Land can this be good.

The t***h is we are seeing the economy shrink while many people still have hopes of landing a good-paying job. The smoke and mirrors, lies, distortions and media celebrations will continue, but less and less people are falling for it. I suppose this was the same way in the former Soviet Union when they would report record crop harvests from their collective farms, yet anything that could float was in American and Canadian ports buying up all the grain they could get.

This regime touts a recovery, yet for college grads who are now looking for work are having a tough time of it. Additionally, I read these people are making some $3400/yr less than in 2000. I suppose that's the bounce-back they get for v****g for Obama. Raising the minimum wage, a concept mentioned in the C*******t Manifesto, will make student life even tougher for our younger people to find a chance to make some money while going to school.

Until this regime is finally ousted and all the sycophants are sent packing, recovery will not appear. E******ns do indeed have consequences. http://scgnews.com/the-contraction-of-the-us-economy-no-it-wasnt-because-of-the-harsh-winter

astrolite

Think about this one: Maybe the prices aren't escalating? Could it be the dollar dropping in value? no longer needed as the "Petro Dollar" and backed by NOTHING, in unpayable debt, look at the currency exchange in the financial section of your local paper, compare the dollar's value to other currencies. Inflation is devaluing our currency! Now....The engineered collapse of currencies is Soros' stock in trade, not helping, but destroying the economies of whole countries! "A commendable action"??? I would be shocked if I heard any t***h on PBS, or NPR. Another word: The richest BANKERS are putting their absurdly huge bonuses into Swiss banks.......in Swiss currency! Now WHY? Not in the dollar, not in American banks? Sleep Well!

Liberty Tree

Good motning Patty, along with this we have the smallest workforce in 36 years, more getting unemployment for longer periods of time, millions more on food stamps, millions more seeking disability payments rather than jobs, and trillions more in debt. The way the Obamaites count a job created is also bogus. If an employer splits a full time job into two parttime jobs that is counted as a job created even though the total hours of work stays the same. Also if person A has a job and person B does not when person A moves to another job that already exists and person B takes his old job that is counted as a job created even though the total nimber of jobs is the same.
The whole economic pricture is a s**m.

Patty

[quote=Not-a-RINO]

:thumbup: :thumbup: :thumbup:

Patty

:thumbup: :thumbup: Good morning Liberty. Just to keep up with population expansion we would need 130,000 new jobs a month and that doesn't count the i******s coming in.
The lake was awful foggy this morning on our walk.

Patty

Not to mention what Waashington is driving out of our banks.
http://www.zerohedge.com/news/2014-06-06/giant-sucking-sound-russian-money-yanked-us-banks

Liberty Tree

No lakes where I live, just a lot of farm land. The 130,00 jobs have to be real jobs.

the waker Loc: 11th freest nation

Yes we have lost a lot of high paying jobs. And replaced them w/ part time or low wadge jobs. But who wants to get out of bed at 4:00am in the morning and go work 8-10 hrs a day when almost half the country doesn't work and just lives off entitlements. Its not just what there doing to the treasury, its what there doing to the hard working spirit of America. As many of us know once the people realize they can grant gifts from there own treasury, democracy doesn't work.

Patty

:thumbup:
"The socialist soon run out of other peoples money"
Margaret Thatcher.

Liberty Tree

You are right, people get tired of having what they have earned taken from them to give to those who have not earned it.

the waker Loc: 11th freest nation

Although it is important to realize that we all need a litlle help from time to time, but what's going on isn't just help, its doing for others that WON'T do for themselves, and w/ that, these abusive people are locked to what they are given and want to complain about what they don't have, and blame people who do work hard day in and day out, for what things they have worked hard for. H**e to sound like a broken record but people if you want to know the why and how come our goverment does what they do on both sides of the line take a look at agenda 21 "sustainability". No one side can pull this off, and it is definetly what's happening in this country. From EPA,TO COMMON CORE, TO THIS BS KNOWN AS INCOME E******Y. As w/ everything in life you get OUT, what yo put IN!

permafrost Loc: Minnesota

Patty, I have no article to copy and paste, but as I sit on this Sunday morning, the TV local news is reporting a new mall in Eagan Mn is having a job fair this weekend, yesterday and today, hoping to hire 1600 people for jobs in 70 stores. An apartment complex is also going up a few blocks from the mall. The traffic is lousy down in the cities due to all the construction underway throughout the metro area and out-state. Bridges being rebuilt and repaired. A young lady enrolled in medical school for the fall semester is overjoyed, the job she got was tailored for her summer and then fall hours.

I know nothing about phantom jobs, but in our area the economy is truly rebounding and honest, things look pretty darn good in Minnesota.

Also, the unemployment rate for what that is worth, is about 4.5% for all of the state. You may say those figures are worthless, but they are calculated the same as the rest of the nation, so they at least give a relative value.

permafrost Loc: Minnesota

Astro, only a small question. What is wrong with PBS? Even one of the Koch brothers helps put on some of those programs, I think it is "Nova" or "Nature". I watch PBS quite a lot and have no idea why someone would find fault with it.