BUT THE BARTENDER BUSINESS IS BOOMING …
|| By FITSNEWS || If you watch your local nightly news this evening, you’ll hear that America’s economy created 215,000 jobs during the month of July – and that “job gains occurred in retail, trade, health care, professional and technical services, and financial activities.”
You’ll also hear that the nation’s unemployment rate remained at 5.3 percent – well below its recessionary highs.
Good news? That’s what they are hoping you will think … “they” being the “rainbows and unicorns” crowd which would have you believe “everything is awesome” with the U.S. economy.
In reality, the last jobs report from the federal government (.pdf here) reveals the employment situation in America isn’t everything it’s cracked up to be … again, assuming you take the government’s data on face value (which you probably shouldn’t).
According to the latest government data, the number of working age Americans not participating in the labor force grew by 144,000 to a record 93.8 million people in July. As a result the nation’s labor participation rate remained stuck at 62.6 percent – where it was last month (a.k.a. a depth not seen since 1977).
Courtesy of our friends at Zero Hedge, here’s what that looks like in chart form …
(Click to enlarge)
(Chart via)
Also wage growth was once again flat … meaning it got a little bit harder last month for those Americans who are lucky enough to be in the labor force to make ends meet.
Finally, we have the nagging “quality of jobs” issue – as highlighted by this Zero Hedge post which shows that since December 2007, the U.S. economy has replaced the 1.4 million manufacturing jobs it lost with 1.4 million new waitresses and bartenders.
(Click to enlarge)
(Chart via)
Yikes …
And U.S. president Barack Obama and “Republican” leaders in Congress really think another job-killing, crony capitalist “free trade” deal is going to turn things around?
Please … maybe for the oligarchs who are padding their pockets in support of such deals.
But not for you …
We’ve said it before, we’ll say it again: America needs to fundamentally reverse its current governing philosophy and start growing the economy, not the federal behemoth. It needs to start letting consumers do the stimulating, instead of pumping trillions of dollars we don’t have into wealth redistribution, crony capitalism, welfare statism, global interventionism and socialized medicine.
More of the same dependency-inducing, debt-exploding unsustainable government growth is a recipe for more of the same stagnation. And make no mistake, America simply cannot afford that.
53 comments
Yeah, free trade is bad. I want tarrifs on everything. I want those plastic crap toys in my McDonald’s Kids Meal to be made in Ohio by a union guy making $35 an hour, so I can pay $7.50 for a kid’s soy-burger.
You told us Obama was gonna change it all, with just as much fervor as you HATED W. You were right. He Damn sure changed it. And if it’s changed any more by the Democrat Party’s next stooge, we’ll be a 3rd World nation.
That’s right. I hate the fact that 30,000 Americans a month leave the workforce to retire early, that 30,000 American Mom’s a month can stop having to work and stay home with their kids, that 40,000 kids a month start going to college. And I hate that every month another 10,000 former US soldiers are placed on disability because of injuries sustained in Iraq. God!! Obsess much?
All of your numbers are false.
As is his god.
Leave my Rocky alone.I am his mother in-law ,a NON citizen and he got me Obamacare while REAL Americans can’t afford their premiums or find a doctor.
Did you know you can buy fried chicken at Food Lion with an EBT card?
We don’t shop at Food Lion. And we don’t know what EBT cards are. As for Obamacare for family members – it’s the law – change the law asshole. Oh right, you can’t. Or should I say, you’re party can’t. Is it it – won’t. Loser!!!
Flip, need some Benadryl? Those facts appear to have you breaking out in hives!
Facts about 100,000,000 people not working?
10,000 a day reaching that golden age of being able to sign up for social security and medicare? Kids in high school and college not working? Stay at home moms? How many of the 93.8 million people fit categories like those?
Speaking of false numbers, it isn’t 100,000,000.
Wow, you REALLY hate facts!!!!!!
45 MILLION on food stamps
I know two of those people!
That number is declining though!
Too bad you won’t be jumping off the taxpayers’ back!
You realize that’s a number that’s dropping since January when it was $1.5 million higher, and that the increase in food stamp families began in 2005 – you know that right? You do understand that timeline?
Yeah, some of the real moochers are like the 16-18 year olds going to school. What jerks. You’re a teacher, or you were. You know – school is for fools. How about them 18-24 year olds going to college. College is a waste of time. And early retirement – there shouldn’t even be a retirement age. People should work until their 80.
Answer me this – if the labor participation rate is down because people just quit, can’t get jobs – then how is it that property values (set by demand for housing) are increasing at 6% a year? They should be flat or falling – right?
If you are really concerned about jobs. Move to China. Obama gave them all our jobs, and our money. He never met a Communist he didn’t like.
Right, because Walmart only started stocking goods from China once Obama was elected.
Here is a FACT from last night.Medicaid expansion is 1.4 billion over budget under Obamacare in Ohio and Kasich had to raise taxes.
I still support the expansion. Besides, Republicans LOVE raising taxes, just like your girl Haley!
Sure you do.It is somebody else’s money.
I DO! I DO love spending other peoples’ money! Me and Haley both!
I’m glad you admitted it! The truth shall set you free, flip! Republicans LOOOOVE taxes! You do too! You defended tax hikes here on FITS!
Reagan raised gas taxes like by double.
Does that mean you’re not going to answer my question. And according to Kasich, he’s saying his medicaid costs are growing slowest in the country and he’s proud of what he did. I guess you’re not.
‘According to the latest government data, the number of working age Americans not participating in the labor force grew by 144,000 to a record 93.8 million people in July.’
Maybe that is because 310,000 people turned 65 last month. Given the fact that the Baby Boomer generation is well into their retirement years (a first year boomer is 69 this year), the labor participation rate is virtually guaranteed to decline for many years to come, even if the economy is booming.
Like FITS, Zero Credibility cherry-picks numbers to drive their Right wing narrative.
“In 2011, the first of the baby boomers reached what used to be known as retirement age. And for the next 18 years, boomers will be turning 65 at a rate of about 10,000 a day.”
http://www.aarp.org/personal-growth/transitions/boomers_65/
The trend may be down, but the economy still has not recovered from the recession. The dive in the employment-population ratio should recover better than this chart shows even with the ageing population. Incidentally, it is not just that the baby boomers are reaching retirement, but that they are living longer.
http://data.bls.gov/timeseries/LNS12300000
And I do believe, but I don’t have time to look it up just this second, that more Americans are in college. Losers. Everyone knows College is for suckers.
Yes, retirees are living longer, more people are in college rather than the workforce than ever before, and more mothers are staying at home by choice than in the recent past. All reasons why the workforce percentage is down, yet does not indicate a bad or weakening economy.
But since that doesn’t serve the narrative, it is never mentioned.
Even in the men’s 25 – 54 age range the labor participation
rate has declined about 2.5% from 90.5% to 88.0%. That’s typically after college and before retirement. These numbers are bigger than you think because it includes the entire population not just the labor force and it doesn’t add to the unemployment rate. Can’t find data on women 24 – 54.
http://data.bls.gov/timeseries/LNS11300061, because it includes
And Obama spent $9 trillion to leave us in such a wretched state of unemployment.
Not to mention how much more energy and healthcare costs are. Add food stamps, welfare and higher taxes for those who can find a job, and it’s abysmal.
You think you’ve seen it all. But Obama is unquestionably THE WORST PRESIDENT IN MY LIFETIME.
God help us if the media defeats the GOP again.
Look at this little America hater!
GOP lost TWICE because of their own shitty candidates!
They’re going to lose again at this rate!
It’s a GREAT DAY in AMERICA!
If you HATE our country then feel free to GET OUT!
When you get facts about your god, you shit all over yourselves, don’t you?
I don’t shit all over myself.
That’s reserved for the tried and true GOP voters like yourselves.
You have an obsession with poop.
You some kinda pervert?
God BLESS America and protect it from imbeciles like YOU!
At least the retired had jobs when they could work.
It’s hell to be just out of college now, because Obama is so fucking bad. And what’s worse, the young people who cannot get a job because Obama sucks, voted for him.
Liberalism, like NAZI-ism or Communism always collapses on itself. But the stupid and uneducated repeat the mistakes.
GrandDumbo, you hate college!
How would you know what young people are facing?
Young people are suffering because baby boomer retards like you are screwing up this nation!
Greedy little bastards!
We’ll save this country from the mess you put us in though!
Just don’t expect us to call once we shove you in that retirement home!
You punks will use those death panels and chop us up like you do unborn babies when we no longer pay your bills and let you sit around on welfare all day long.
Young people are suffering because they have been taught that they don’t have to work because government will take care of them.
Don’t be silly!
You’re the one sitting around on FITS all day!
No we won’t Flip – we believe every aged, baby-boomer spend-a-lot debt lover still has value.
Again with the Shit stuff. Get a diaper.
… the GOP has lost 7 of the last 10 Presidential elections. They’re well on track to make that record 8 out of 11. The cat got the squirrel – both houses of congress – and what have they done? Oh, authorized a $5 coin that nobody wants. Keystone? Nope. Repeal Obamacare? Negative. Hell, they can’t even cut funding to Planned Parenthood.
Unemployment down to 5.3%. Malls are packed, waits of 30 minutes at nearly every good restaurant except Golden Corrall, thousands of families can now afford for Mom to stay at home with their kids, $2.34 a gallon gas, milk running below $4 a gallon, 401Ks way up. Life just sucks – in Crapville.
“labor participation rate remained stuck at 62.6 percent – where it was last month (a.k.a. a depth not seen since 1977).”
We are talking Jimmie Carter numbers here.
“I feel your pain.” As Clinton uttered in 1992,
Fundamental transformation proceeding as planned, comrade!
Yeah, as stated, “I will fundamentally change America.”
“So far, so good, and I have half of America believing me”
This can’t be true. According to the liberals, Obama’s policies have given us the best economy in history.
After they got away with blaming Bush for Obama’s miserable economy, in the 2012 election, Democrats believe all they have to do is say it, and people will believe it. No matter how ridiculous their claims.
Until we slap the living shit out of them, and kick them so fucking hard, their ancestors feel it, they’ll just keep repeating their mindless bullshit as if it were Gospel.
We have to beat them, and exterminate them from any gov’t power, before these ignorant fucks will wake up. It won’t be easy, but it damn sure will be worth it. And if we want to keep our country, we have no option.
5.3% unemployment, 6.5% annual house value increases, lowest level of uninsured Americans ever, fewer Mom’s having to work. Wages increasing with each monthly report. Must suck to be you.
When you cut FT jobs into PT jobs, the number of jobs increase, Dumbass. Not to mention, when people give up, they are not counted as unemployed, idiot.
6.5 increase in home value is paltry when you consider homes lost 30% in value under Obama.
And WTF good is being insured when the insurance is no good. You pay the astronomical premium, now. Then pay full costs at the doctors office, unless you are a freeloader. And they rode for free, beforehand.
You FUCK America on EVERY front.
I enjoy your stupidity, keep it comming !
There are a couple of significant numbers Fitsnews leaves out and unfortunately they are not good. While the number of working age Americans not participating in the labor force grew by 144,000 the number of people in the labor force grew by 69,000. That means that only 69,000 of the 213,000 increase in the adult population entered the labor force or only 32.4%. If those numbers continue the labor participation rate can only go down.
The 215,000 new no farm payroll jobs is based on the institutional survey of employers. The household survey, which is used for the unemployment rate, labor force participation rate, and the “not in labor force population, shows only 101,000 job increase. That’s 114,000 job difference.
Here is the link with all of this data.
http://www.bls.gov/news.release/empsit.a.htm
Fundamental transformation proceeding as planned, comrade!
In this economy if you want a job, you can get a job. With baby boomers retiring and record numbers of people on disability – whether real of faked – all I can say is “big deal”. If lazy bums who feel entitled to a cushy 6 figure job are sitting on the sidelines and waiting for a golden opportunity to magically appear, so be it and screw them.
The numbers may be skewed because Millennials are the laziest bunch of worthless fucks this country has ever seen. I wonder how many of those out of work are living with their parents.