Wow the jobs rate drops to 4.6%, the lowest it's been since 2007! A whopping 178,000 jobs were created in a country of 330million. That obama and his economic policies are working our great aren't they!?
Surely you don't believe what you're hearing about the state of the US economy? Curious America, is the FAKE NEWS media telling you why the rate dropped? Did they tell you another 446,000 Americans have given up looking for work? Those no longer included in the labor work force rose to 95,055,000.
For the hard-headed out there saying the economy is great and my numbers are wrong, no you are wrong. STR doesn't make these figures up, they come directly from the U.S. Bureau of Labor Statistics
95,055,000 Americans are NOT in the labor force
+7,400,000 Americans are unemployed (on the books)
= 102,455,000 Americans are out of work
As always this number is much higher if you factor in those who worked the system who are now receiving disability insurance which is at record levels.
The real unemployment rate remains at 23% just below where it was at the height of the Great Depression(25%).
I've been posting about the job numbers and state of the economy ad nauseum for years now. Things are not sunshine and rainbows, the state of the US economy is dismal. You cannot have job and economic growth in country whose economy has shifted to being service based vs manufacturing. We don't make anything here and until that happens the number of jobs available will continue to dwindle. With the onset of technology, robotics etc it will become even harder for people to find work. The people protesting #Fightfor15, aka $15'ers, cannot understand any of this. They don't realize their actions are only accelerating automation within the service industry as I warned last year!
Do not expect to see drastic changes under the incoming Trump administration either. Proposing to spend $1 Trillion on infrastructure from the start to already out of control spending is not going to help matters. We have a massive economic bubble powered by residential and commercial estate...
U.S. housing prices are at the highest level since the crash: https://t.co/fMwxaFUsw9 = Housing Bubble 2.0 $XHB $IYR pic.twitter.com/R91beph1jR— Jesse Colombo (@TheBubbleBubble) November 29, 2016
The $11-Trillion U.S. Commercial Property Bubble Is Ready To Pop: https://t.co/WQkQNKMHvN $IYR $VNQ $SPG pic.twitter.com/Rv1rmYnBbg— Jesse Colombo (@TheBubbleBubble) November 18, 2016
... along with student loan debt topping $1.3Trillion on their way to bursting. As Harry Dent warned when the economic bubble bursts, it will be the final bubble to burst.
IF Pres-Elect Trump can bring manufacturing back to the US it could slow down the inevitable. But not if the level of debt which is much greater than the $20 trillion being thrown around isn't addressed. Offering financial favors and tax incentives to companies is not going to solve our problems, you're just moving money around from one pocket to the other. We need a new pocket full of money to tap into, a massive economic boom has to happen, otherwise Trump's plans are just pumping more useless drugs into a terminally ill patient.
Spend your money wisely folks. It's better to tie it up in assets than sit in a bank that may go under in which you could be on the hook to bail-in! Yea! You might want to find out if your bank is one who changed its terms
U.S. Job Seekers Giving Up, Leaving the Workforce
by Suzanne O'Halloran | Fox Business
A job-seeker completes an application at a career job fair in Philadelphia, Pennsylvania, U.S. July 25, 2013. REUTERS/Mark Makela/File Photo
Reuters (Philadelphia Job Fair )
More Americans are kissing the workforce goodbye – not because they’re financially secure but because they can’t find a job. A record 95 million people are sitting on the sidelines opting not to work. As a result, the labor participation rate is stuck at 62.7%, a 40-year low.
“There are a certain percentage of people staying home,” said Dan North, economist at Euler Hermes, during an interview with FOXBusiness.com. “If benefits are great in some states, people will just stay home,” he noted. Those benefits may include welfare, food stamps and Medicare.
“It’s not that people are lazy, they are just not stupid,” Michael Tanner, senior fellow at the Cato Institute, which advocates limited government, tells FOXBusiness.com. Tanner, who studies poverty issues, also notes the federal welfare system is very complex and has around 70 programs, making it more complicated to fix...more
