RECOVERY: The Number Of Private Sector Jobs Fell By 278,000 Last Month

The Number Of Private Sector Jobs Fell By 278,000 Last Month But The Economy Is Getting Better? (Economic Collapse, Sep 7, 2013):

Have you heard about the “wonderful” employment numbers that were just released?  Last month, the unemployment rate declined to 7.3 percent.  Somehow this happened even though the percentage of working age Americans with a job actually declined and the number of private sector workers fell by 278,000.  So how did the federal government magically produce a drop in the unemployment rate even though less people have jobs?  Well, they did it by pretending that more than half a million Americans “dropped out of the labor force” last month.  If the government is to be believed, the number of Americans that want to work dropped by an astounding 516,000 in a single month even though the population of our country is constantly increasing.  The federal government continues to feed us absolutely absurd numbers month after month, and at this point “the official unemployment rate” is essentially meaningless.

But that doesn’t mean that Barack Obama is about to drop the charade.  In fact, he continues to insist that the economy is getting better.  The following is an excerpt from one of Obama’s recent weekly radio addresses

Over the past four and a half years, we’ve fought our way back from the worst recession of our lifetimes. And thanks to the grit and resilience of the American people, we’ve begun to lay a foundation for stronger, more durable economic growth.

Oh really?

Does he actually believe that anyone is still buying what he is saying?

The cold, hard truth is that the U.S. economy has not recovered while Obama has been in the White House.  If you doubt this, please see my previous article entitled “33 Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became President“.

Since World War II, the percentage of working age Americans that is employed had always bounced back dramatically after a recession ended.

Unfortunately, that has not happened this time.

As you can see from the chart posted below, the percentage of working age Americans with a job has stayed below 59 percent since late 2009.  This chart reflects the most recent employment numbers…

So where is the recovery Obama?

Can he possibly put a positive spin on the chart above?

Of course not.

The truth is that the official unemployment rate should still be up around 10 percent like it was a few years ago.

But that wouldn’t make Obama look very good, would it?  So the U.S. government has been pretending that millions upon millions of Americans have been “leaving the labor force”.  This has pushed the labor force participation rate to a 35-year-low

At this point, we have more than 90 million Americans that are considered to be “not in the labor force”…

On Friday, the BLS reported that the 90,473,000 Americans not currently in the labor force marked the first time the figure exceeded the 90 million threshold.

In January 2009, when President Obama first took office, there were 80.5 million Americans 16 years and older not in the labor force, meaning the number of Americans not in the labor force has increased 10 million during his presidency.

For men, the BLS reported the labor force participation rate, the percentage of the population working or considered looking for work, was 63.2 percent in August, basically unchanged from 63.5 percent in July. It’s also a record low.

How low can that number possibly go?

Meanwhile, the quality of our jobs continues to decline rapidly as well.  If you can believe it, at this point more than 40 percent of all U.S. workers actually make less than what a full-time minimum wage worker made back in 1968.

As a result, the U.S. middle class is steadily dying.  The following is from a recent Yahoo article

It’s the elephant in the room no one wants to talk about…

The middle class in the U.S. economy is on the verge of collapse. Yes, I said collapse. That social class that once helped the U.S. economy grow and prosper is coming apart. Will the U.S. economy ever be the same without it or is this the new norm?

For much more on this, please see my previous article entitled “44 Facts About The Death Of The Middle Class That Every American Should Know“.

And unfortunately, things look like they may start getting a lot worse for ordinary Americans.

There are a couple of major events which could potentially cause our economic decline to accelerate greatly in September…

#1 Fed Tapering

Right now, there is not much demand for U.S. Treasury bonds.  Foreigners have become net sellers of U.S. Treasuries and domestic demand has become quite weak.  Without the Federal Reserve buying up tens of billions of dollars worth of U.S. Treasuries each month, where will the demand come from?

That is a very good question.  If the Fed starts to taper quantitative easing in September, that is almost certainly going to send bond yields soaring.  Already, bond yields have been rising steadily, and if they get too high it is going to be absolutely disastrous for the U.S. economy.

#2 War With Syria

If the U.S. attacks Syria, it will likely cause financial markets all over the planet to descend into chaos and send the price of oil skyrocketing.

And that assumes that the conflict is limited to only the United States and Syria.  If Syria decides to retaliate by launching missiles at Israeli cities, that will set off a major regional war in the Middle East and the consequences for the global economy will be off the charts.

So as bad as the U.S. economy is right now, the truth is that things could easily get much, much worse.

Let us hope for the best, but let us also prepare for the worst.

1 thought on “RECOVERY: The Number Of Private Sector Jobs Fell By 278,000 Last Month

  1. I was able to listen to a few minutes of Obama’s speech to the G20 before he started calling nation leaders names……..he talked about building jobs around the world….and that is the key. He is a globalist, and he is part of a very dangerous group of people who have visions of a world government, with them running it. It will fail, it always does, but millions will suffer and die while the greedy guts try. World government will never overcome tribal warfare, and that is a rule of life they can never defeat. In my long life, I have studied history for well over fifty years, and I can say that with assurance. They won’t win…..that much I can promise.
    He talked about jobs, but if you listened closely, he spoke globally, not nationally. And, that is what is wrong with all his plans. Look at his latest trade agreements, sending more good jobs overseas, draining more wealth from this already bankrupt nation……….any other nation would go after our leaders for treason, but they are too corrupt. They are too stupid and greedy to realize this plan will also make their jobs vanish, but…………..
    Over 90 million Americans unemployed out of a population of 330 million. This doesn’t account for the millions of part time jobs of silent desperation, or the “under the table” economy. When you subtract the elderly, the disabled, the children, the real unemployment rate is closer to 50% than 10% or 20%.
    In a healthy economy, money supply represents the GDP of each nation. Unfortunately, the entire world has followed the lead of the FED, and they print money nonstop with nothing behind it but ink. There is no growth, no substance behind it, just debt.
    The only growth in the world economy has been debt.
    Nobody believes Obama because he is talking about world slavery, we are thinking of national security and growth…..the language sounds the same, but the purposes are in direct contradiction with each other. That is why nobody believes him……he doesn’t serve the US, he serves this shadow government that controls the western world.
    Until recently, I thought China would advance and overtake the US, but they have adopted all the worst qualities of the western economy and kept none of the good ones, such as taking care of your own people, to keep social stability. As a result, they have hundreds of uprisings a day, but you don’t hear about them because they also have a propaganda mill, no truth is ever uncovered by media. Nobody believes them, either. It just came out (again) they have been lying about their export numbers, using their own version of Enron accounting.
    A financial system that isn’t credible cannot stand. People will not bank in institutions that will steal their money. Every time someone moves their money, it gives the banks less money to leverage. Right now, standard practice is to leverage 1000:1.
    A good example is an article I saw on Bloomberg. The banks are lobbying congress to force credit unions to become banks. People like me who have moved our money from the banks to these credit unions is hurting them enough for them to try and force a law change. This tells me they are really in trouble.
    The world economy is imploding. All the lies and all the propaganda doesn’t change the truth of this sick, New World Order that is ruining the world as we knew it. Attack Syria, then go into Iran and steal their wealth, next. Controlling the energy supplies of the world is their goal, and they don’t care how many die or are ruined while they try. They intend to control the entire world, with nations treated as states to be exploited or rewarded at will.
    The Age of Enlightenment is dead. We are heading into a new Dark Age. The fools think technology will give them totalitarian power over all. They forget nothing remains the same, the only constant in life is change. The climate change, rising sea levels, growing radiation poisoning from Japan from which there is no technology to stop or control it and other aging nuclear outlets, diseases…………there is nothing that isn’t causing changes, many of which we don’t know about yet……..and all of these things will have an impact. These factors will all have an effect and cause plans to change. The greedy bastards don’t think about that, just More for them. Short sightedness is their greatest weakness, closely followed by greed.
    This war with Syria is an excellent example. They figure it will be like Iraq, Afghanistan, or any other middle east nation that cannot fight back……this will be very different.
    God help us.

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