The May unemployment numbers are out and like all the previous reports the media is not being honest with Americans as they praise these bs numbers.
First and foremost this is NOT a bash on Pres Trump. His economic policies are in the right direction unlike the previous administration’s, who did everything possible to hurt the economy in the name of social justice. Trump even pointed out last August the UE numbers are not accurate…
This site is about telling the truth regardless of who is in the White House, that said…
SHAME ON EACH AND EVERY economist, financial expert, political pundit/ activist ranting and raving over “3.8%”, when 18-20+ mos ago you ALL were ripping the last admin over the number of Americans out of work. The same millions unemployed during the obama admin remain unemployed now.
The real UE rate when calculated the old correct way is 21.5% NOT 3.8%. Those following this site on this issue know ShadowStats is cited as the source for this info. They are not cooking up the numbers, ShadowStats is simply taking the same BLS numbers reported today and calculating the UE rate the way it use to be done factoring EVERYONE into the rate.
Yes, 100M Americans remain out of work, when you factor in those on and off the books as well as Americans who have jumped on disability because their UE benefits ran out. As a matter of fact, those out of the labor force increased (170K Americans) between April and May, from 95.745 to 95.915.
Businesses are closing, large retail chains like Sears are closing stores, Toys R Us is gone, jobs are still being lost, as businesses close, even though this report cites new jobs created.
Let me explain to you all what’s happening:
– ABC Co has been in business for 5 years and has 100 employees
– XYZ Co has been in business for the same time and has the same number of employees, BUT is hiring another employee, for total of 101.
– Employee 1 at ABC Co is applying and will be hired by XYZ to fill that new job opening. XYZ’s “new employee” will be counted in the unemployment/ jobs number report as a “new job created”. Take note what just happened, and is happening across the US, someone with a job got a “new” job, meanwhile millions remain unemployed!
– ABC Co will have a few options with the loss of their employee, they will either:
· Hire someone (ALREADY employed) from another company but will not be considered a new job creation.
· Hire someone on the books unemployed
· NOT hire anyone to fill that empty role, instead promote from within or spread the vacant workers duties out to other workers.
· They will most likely NEVER hire someone who is long term unemployed and qualified for the position.
What the jobs report number is not including are those people no longer counted in the jobs report, who are not being hired. Yes, some people on the unemployment rolls are being hired to lower the rate, but the masses who have been unemployed for years (go listen to Trump clip again) remain jobless, and honestly written off by EVERYONE.
The report is bunk, most of the people getting jobs are those ALREADY employed, switching jobs or companies. Read it again and let it sink in, because many of you know people who are out of work, yet you’re hearing all this wonderful economic news, even though job losses continue.
The millions unemployed during the obama years didn’t all of sudden find jobs or disappear since Jan 20th 2017. WE (yours truly is extreme long term unemployed) are still here looking for work, but NO ONE will hire us because we have been unemployed too long. That’s it, that’s our sin for being unable to find work. WE WANT JOBS but recruiters, headhunters, hiring managers and the like who pass us over, because we’re unemployed too long, continue to add to that unemployment gap making matters worse using the same excuse not to hire us resulting in a vicious cycle.
So yes, I say SHAME ON EACH AND EVERY economist, financial expert, political pundit and activist who ranted and raved over the millions unemployed during the obama years, but have now gone silent since a changing of the guard in the Oval Office.
This economy is still weak, we’re still taking on massive debt, a lot of the red flags from years past are showing up again. The US economy is on life support, it will crash. You’ve been warned.
Do not take my word on any of this. I come to these conclusions because I do my homework listening to people who are ringing the warning bell. I suggest you start following:
Jesse Columbo
Harry Dent
Danielle DiMartino
James Rickards
Peter Schiff
(There are many more but these people know what they’re talking about.)