[P2P-F] Fwd: Christopher - The Truth About The Most Recent American Jobs Report -

Sun Jan 10 14:53:06 CET 2016

Kind regards,

Christopher

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*Yet Another Fabricated Jobs Report — Paul Craig Roberts
http://www.paulcraigroberts.org <http://www.paulcraigroberts.org> January
8, 2016|*

* Another Fabricated Jobs Report Paul Craig Roberts According to Friday’s
(January 8) payroll jobs numbers, almost 300,000 new jobs were created in
December. *

*Additionally, the previous two months were revised upward by 50,000 jobs.*

* Apparently, the equity market did not believe the report, with the
averages moving down today.*
* As I have pointed out almost monthly for what I think could be
approaching two decades, the alleged job growth always takes*
* place in nontradable domestic services, that is, in areas that do not
produce exports and have no competition from imports.*

*This is the job profile of a Third World country. Twelve years ago I
predicted at a major Washington, D.C.,*
*conference that was nationally televised that in 20 years the United
States would have a Third World economy *
*if jobs offshoring, which benefits only corporate executives and
shareholders, continued. Jobs offshoring has continued,*
*and judging by the payroll jobs reports from the US government, the US is
already a Third World economy.*
*The presstitute financial media—and what they are is a bunch of
whores—always reports the alleged jobs increase*
*as if it is a great thing, testimony to the continuing strength of the
American economy, and so forth. Only a handful*
*of us look at the data and reveal its meaning. Once again I will strip
away the Matrix and show you the reality.*

* Allegedly, the US economy has been in recovery since, if memory serves,
June 2009. If so, it is an unusual recovery.*
* Normally, the rising job opportunities associated with economic
recoveries bring entrants into the labor force, but*
* the US labor force participation rate has been declining. In December,
2015, there are 1,185,000 fewer Americans *
*in the labor force than in December 2014; yet, the working age population
is higher today than a year ago. *
*The reported unemployment rate does not include “discouraged workers,”
that is, workers who unable to*
*find jobs have ceased looking for work. The reported unemployment rate of
5% only counts non-discouraged*
*workers who are still expecting to find a job. The actual unemployment
rate, that is, the rate that includes *
*Americans who have given up hope of finding employment, is 23%. Currently,
there are 94,691,000 Americans *
*of working age who are not in the labor force. In other words, the US
Gross Domestic Product (GDP) is deprived *
*of a large percentage of its labor input. Now, we will pay attention,
unlike the financial presstitute media,*
*to the age groups who benefited, according to the BLS, from the 292,000
December new jobs. *

*About half of the alleged new jobs—142,000—went to the 55 years old and
over age group.*
*This age group consists primarily of retirees who have found it necessary
to supplement their*
*retirement income and of those near retirement who are working in order to
compensate for *
*the lack of interest on their savings due to the Federal Reserve’s zero
interest rate policy. *

*These are part-time, lowly paid jobs without benefits. Americans of prime
working age,*
* 25 years old to 54 year old, only received 16,000 or 5% of the new jobs.
Those aged 46 to*
* 54 lost 165,000 jobs. In other words, middle aged people are losing their
jobs before they*
* can provide for their retirement. There are 527,000 more Americans
working multiple jobs *
*in December 2015 than in December 2014. Now, as we have done so often for
many years, *
*let’s look at the make believe jobs that the BLS claims. Almost all of
them are in lowly paid *
*domestic services, such as waitresses, bartenders, couriers and
messengers, employment*
* services, social services and health care (primarily ambulatory health
care services). *
*The conclusion is that if we believe the payroll jobs report, the United
States is now an*
* economy that only creates Third World jobs in lowly paid domestic
services. And yet this*
* non-economy on the verge of collapse is said by the idiots in Washington
to be a super-power. *
*What a total joke! *

*Dr. Paul Craig Roberts was Assistant Secretary of the Treasury for
Economic *
*Policy and associate editor of the Wall Street Journal. He was columnist
for Business Week, *
*Scripps Howard News Service, and Creators Syndicate. He has had many
university appointments.*
*His internet columns have attracted a worldwide following. Roberts' latest
books are The Failure of*
* Laissez Faire Capitalism.*

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