Wednesday, July 30th, 2014

Look At This Chart: 91.8 Million…That’s How Many People Are Not Working In America

Mac Slavo
www.SHTFplan.com
January 11th, 2014
Reader Views: 2,329

shutterstock_44594308

This morning the Bureau of Labor and Statistics issued their latest non-farms payroll report.

The good news is that the unemployment rate dropped from 7.0% to 6.7%, the lowest it’s been since 2008.

The bad news is that this statistic is predicated on illusory machinations in how the government calculates the numbers.

First, we’ll note that job creation itself collapsed to a three year low. Economists expected 197,000 jobs to be created, but the end result was only 74,000. Of course, they have a reason for why that happened:

As a reason for the plunge the BLS says there was a major weather effect seen on the forced part-time series, and notes the decline in healthcare which is rare and part of the sector slowing. Thank you Obamacare.

It’s the weather. Duh. Had it not been cold and snowing in winter time we’d have created way more jobs!

Second, here is the single reason for how it’s possible that no jobs are being created but the official unemployment rate continues to decline.

Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%?

The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.

 

labor-force

Because more Americans are being dropped from the labor force or simply no longer counted (like when millions lose their unemployment benefits this year), there are fewer people in the available work force. Thus, even if not a single job is created, when several hundred thousand people are no longer counted as being unemployed the official unemployment rate actually drops.

It’s what Al Gore might refer to as “fuzzy math.”

The following chart pretty much says it all and highlights exactly how bad things really are.

And the piece de resistanceAmericans not in the labor force exploded higher by 535,000 to a new all time high 91.8 million.

not-in-labor-force

You can go on believing that unemployment is falling and that the policies implemented by the Obama administration and Congress have not had a negative impact on job growth.

Or, you can accept the fact that the establishment is attempting to pull the wool over our eyes in an effort to convince us that everything is moving along swimmingly.

The facts, however, are quite clear: Over 91.8 million working age Americans do not have jobs.

That’s a  massive number considering our population is a little over 300 million.

How, exactly, are Americans supposed to increase consumer spending, buy houses, and exit transitional living funds (a.k.a. welfare) when nearly one third of our population is out of work and no jobs are being created?

As Zero Hedge notes, “the jobless, laborless recovery continues to steam on.”

What’s scary is that this is going to get worse… much worse.

Delivered by The Daily Sheeple


Contributed by Mac Slavo of www.SHTFplan.com.

When it hits the fan, don’t say we didn’t warn you. Mac Slavo is the editor of SHTFplan.com, a resource hub for alternative news, contrarian commentary and strategies that you can take to protect yourself from the coming global paradigm shift.

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  • Andy Fife

    Hey, where’s that guy that always ended his rants with ” keep your powder dry” ?
    Aunt Bea wants him over for supper. She has a thing or two to explain about powdered milk, eggs, butter and senior citizen formulas.
    Aunt Bea quit working when she was 45. She has 1/2 ownership in a crack farm,,,,,yes a CRACK FARM,,,,,in northeastern Pennsylvania.
    Frosty the Blowman is sitting in your driveway, with an ounce of crack and a pound of weed, and 2 hookers in the sleigh…… repeat.
    Enjoy America the Free. Free from work,money,freedom,liberty,justice,happiness,….

  • Andy Fife

    Hey, where’s that guy that always ended his rants with ” keep your powder dry” ?
    Aunt Bea wants him over for supper. She has a thing or two to explain about powdered milk, eggs, butter and senior citizen formulas.
    Aunt Bea quit working when she was 45. She has 1/2 ownership in a crack farm,,,,,yes a CRACK FARM,,,,,in northeastern Pennsylvania.
    Frosty the Blowman is sitting in your driveway, with an ounce of crack and a pound of weed, and 2 hookers in the sleigh…… repeat.
    Enjoy America the Free. Free from work,money,freedom,liberty,justice,happiness,….

    • disqus_AHJwAM8cnR

      I am living off of powered milk, AP flour, honey, salt, sugar, lard, oatmeal, and when I have money, butter, chicken, and ham bones, etc. My powder is dry but what good does it do? I am not going to go blazing to the capitol. It will end one way and one way only. This is deliberate, slow strangulation. We are all screwed.

      • Andy Fife

        You are probably exactly right. IMF and Vatican are raping the world.

  • disqus_AHJwAM8cnR

    These numbers are false. In fact, they are an extremely low estimate. Why do I say that? Because I am unemployed and I am not counted. I WAS self employed, then contracted, but then the company closed. I have never received any benefits, government help in ANY way. Just yesterday I watched a lady use an EBT card to buy essentials and then in a separate transaction bought brandy and potato chips. While we scrounged change for essential food items. I know people like this, it’s not just me. Now think of how many people are going through the same thing? There is NO way they are counting me. I have successfully avoided the idiot from the Census bureau who keeps coming to my door and I’ve not reported any wage loss. I have continued to pay for my car insurance, vehicle registration, etc. The govt owes ME 12,500 for overpayment from 2007, which I have fought to get back but it’s past their 3 year limit. They have actually put a lien on my “property” because they THINK I owe them $36,000 in state taxes. Which I do not. This is based upon the sale of a house where I lost a vomit inducing amount of money. Some idiot from an escrow co reported I made 360,000. Trust me, if they can locate that 360,000. They can have the 36,000. Because I received no such thing. The govt is continually screwing me while they are being screwed by the lady with the EBT card. It makes me sick. I am SICK OF IT!!!

    • Andy Fife

      Learn how to set-off all debt with A4V, google it. See examples online too. Google : Muhammad Rasheed student loan.
      I am self-employed too, and work is dismal. Most people hiring me are gov’t henchmen , with the occaisonal dental tech, doctor’s widow, and corporate entities.

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