Posted on 02/04/2015 8:22:44 PM PST by george76
It’s not every day you see you see the chairman and CEO of the Gallup polling organization come out and declare the official unemployment rate number is extremely misleading, or, as the headline suggests, “a big lie”:
...
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.
...
Gallup defines a good job as 30+ hours per week for an organization that provides a regular paycheck. Right now, the U.S. is delivering at a staggeringly low rate of 44%, which is the number of full-time jobs as a percent of the adult population
(Excerpt) Read more at nationalreview.com ...
Bookmarked.
That has to be close to the lowest ever % of the adult population employed. The USA is in a depression running on massive debt. The media hides all this
What could go wrong?
Clearly this is reactionary propaganda! Comrade Obama himself said he “saved the American economy!”
The Greatest Depression is still going on unabated, almost 8 years after it started with no acknowledgment by the government it is happening.
Lest we forget, many of those working today are making far less than they used to, so even these numbers as bad as they are don’t reveal all the downside to Bush and Obama’s policies.
And yes folks, I’m sorry to tell you, but Bush only increased jobs by about 1% in two terms, where traditionally they increase by about 19% in two terms.
The 1-2 punch from Bush Obama have been absolutely devastating to this nation.
What a difference from those happy days in the 60’s when recruiters had the gall to call you at the office during working hours with the question if you were interested in a job change.
The Federal Reserve is the foundation of Leftist/Progressive Government.
The takers now outnumber the givers. The freeloaders are the people they were waiting for. America! The Land of the Freeloaders!
“And yes folks, I’m sorry to tell you, but Bush only increased jobs by about 1% in two terms, where traditionally they increase by about 19% in two terms.”
The US economy stopped producing jobs as a consequence of the decision in the 1990’s to lower tariffs and give free access to the US market to other nations. Manufacturing jobs moved to third world nations along with all of the jobs supporting factories and their supply chains.
US companies pay taxes on US production. These taxes are in effect a fee levied for the privilege of access to the US marketplace. When tariffs are eliminated, foreign factories access the US market at no cost. US factories are at a significant disadvantage paying tax rates of 30% or more on profits realize in the US market when the foreign factory pays none. Many of these foreign factories are not taxed on exports by their home governments and in some cases (China) receive export rebates for goods shipped to the US.
The US built the greatest industrial infrastructure on the planet in the 35 years from 1865 to 1900. During those years the federal government imposed high tariffs. These tariffs fully funded the federal government.
Deindustrialization of the US economy has resulted in the loss of full time employment opportunities for millions and the destruction of the middle class.
Free traders promised a booming economy and new jobs in a thriving “service economy”. After 25 years of free trade, the economic boom and full employment service economy has yet to develop in the US market. Is it a coincidence that nations who now produce the goods once made in the USA have thriving economies and growing middle classes?
BKMK
Somehow I missed that happy moment, so no I didn’t remember it.
Doesn’t surprise me much. The dude didn’t realize that you set the foundation for capitalism and allow it to do the heavy lifting.
Any thing else hinders recovery.
Republicans have lost their way.
I’ve been singing that tune since about 1995. The brilliant among us said I was wrong. Well, here we are.
I was on target. So are you.
They were the nation destroying idiots.
What they fail to realize is that service
needs things to be serviced. So, in effect, they are trying to build a house without a foundation.
“The Greatest Depression”
America resembles that remark.
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