The jobless rate goes higher and it is called an improvement?
The official jobless rate is a calculated fiction subject to election-year wishful thinking and about as trustworthy as the LIBOR rate! The official jobless figure is calculated from people just now filing for unemployment and people still receiving such benefits and looking for work. But it does not include the 86 million Americans who have been looking for work so long they have exhausted all possible benefits. These are America's "invisible" unemployed, ignored as a major political embarrassment. - http://money.cnn.com/2012/05/03/news/economy/unemployment-rate/
The US government admits to there being 12.5 million "visible" unemployed, which together with the invisible means 94.5 million Americans are available to work but do not have a job. Total US population is 330 million. But 24% of those are young people not eligible to work. And 13 percent are retired. So the total population of available workers in the United States is 100% - (24% + 13%) = 63% of 330 million people, or 207 million workers. And with 94.5 million workers not working, the true jobless rate in the US right now is 45%, not the 8% the media keeps propagandizing you about.
So why is the stock market up on a jobless claim that any reasonable thinker knows is a fraud? One clue lies in this analysis - Should We Be Worried About The Truckers? | All Star Charts - which shows that transport stocks should rise and fall along with the Dow. But they are not. Hence the Dow, like LIBOR and like the jobless figures, is subject to manipulation and fraud.
It is ALL an illusion.
Last edited by Victory Trader; August 3rd, 2012 at 02:30 PM.
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Only 24.6 Percent Of All Jobs In The United States Are Good Jobs
Do you want to know why it seems like good jobs are very rare in the United States today? It is because good jobs are very rare in the United States today. According to a paper that was just released by the Center for Economic and Policy Research, only 24.6 percent of all American jobs qualified as "good jobs" in 2010. Over the past several decades, there has been increasing pressure on corporations to reduce expenses and increase corporate profits. One of the biggest expenses that any corporation faces is labor. Large corporations all over the globe are in an endless race to gain a competitive advantage by pushing labor costs as low as possible. Sometimes this is done by using technology. ....
And to add - Full-Time Jobs -197,000; Part-Time Jobs +31,000
We got the pre-spun job quantity data already, where we learned that nearly 3 times the headline print was due to seasonal and B/D adjustments and is thus nothing but noise. Now we get the quality. As can be seen below, courtesy of Table A9 from the Household Survey, in July the number of part-time jobs added was 31K, bringing the total to 27,925, just shy of the all time record of 28,038. Full time jobs? Down 228,000 to 114,345, lower than the February full-time jobs print of 114,408. Once again, more and more Americans are relinquishing any and all benefits associated with Full Time Jobs benefits, and instead are agreeing on a job. Any job. Even if it means working just 1 hour a week. For the BLS it doesn't matter - 1 hour of work a week still qualifies you as a Part-Time worker.
it truly is disgusting how our current president got us to vote for him, kept talking about the "greatest financial crisis in our generation" in the weeks leading up to and during the first few weeks of his inaguration. Then he blindsided us with TARP 2 out of nowhere to the glee of Nancy Pelosi and Harry Reed to pay his dues. Then wasting a year on Obamacare while the employment crisis started to be realized by the public only after the decade and more of corporatism offshoring the jobs to China of which Romney and Bane capital was involved. Now he appeals through class warfare to the otherwise ignorant or union and socialized masses who continue to cheer him on.
Last edited by Cloudy; August 3rd, 2012 at 08:43 PM.
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