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Record 93,626,000 Americans Not in Labor Force; Participation Rate Declines to 62.6%

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http://cnsnews.com/news/article/ali-meyer/record-93626000-americans-not-labor-force-participation-rate-declines-626

(CNSNews.com) - A record 93,626,000 Americans 16 or older did not participate in the nation’s labor force in June, as the labor force participation rate dropped to 62.6 percent, a 38-year low, according to the Bureau of Labor Statistics.

In June, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, hit 250,663,000. Of those, 157,037,000 participated in the labor force by either holding a job or actively seeking one.

The 157,037,000 who participated in the labor force equaled only 62.6 percent of the 250,663,000 civilian noninstitutional population, the lowest labor force participation rate seen in 38 years. It hasn’t been this low since October 1977 when the participation rate was 62.4 percent.

Another 93,626,000 did not participate in the labor force. These Americans did not have a job and were not actively trying to find one.

Of the 157,037,000 who did participate in the labor force, 148,739,000 had a job, and 8,299,000 did not have a job were actively seeking one—making them the nation’s unemployed.

The 8,299,000 job seekers were 5.3 percent of the 157,037,000 actively participating in the labor force during the month. Thus, the unemployment rate was 5.3 percent which dropped from the 5.5 percent unemployment seen in May.

The number of employed Americans dropped from 148,795,000 in May to 148,739,000 in June, a decline of 56,000. The number of unemployed Americans also dropped over the month from 8,674,000 in May to 8,299,000 in June, a decline of 375,000.

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Unemployment Numbers Are Rigged

by IWB · July 2, 2015

I know you hear that the unemployment rate is a good indicator as a gage for the state of the economy.

This is false, and here is why.

Every month, the numbers are calculated. They only take into account those that are currently receiving unemployment compensation.

They do not count those fired from work, quit due to medical condition or those who have run out of benefits.

The answer is simple.

On January 1, 2014, the extended benefits were discontinued, resulting in an overnight 1 million people dropping off the rolls. And, you thought it was because the economy was doing better…. right?

http://www.workforcesecurity.doleta.gov/unemploy/supp_act.asp

http://www.ibtimes.com/us-january-jobs-report-2014-unemployment-rate-falls-66-nonfarm-payrolls-rise-113k-1553925

The numbers are rigged, and the legislation that is not passed to keep those on the rolls for extended periods, will not be passed in an election year, or any other time for that matter, because the powers that be are disconnected from the truth.

You are lazy to them…

You freeloader!

Really, the collusion is thick. We are lied to and when I worked at Amazon a while back, I saw laborers, plenty of them with advanced degrees making a couple bucks over minimum.

So, what we have is an economy based on a lie, and where under-employed is the norm… F*CK YOU OBAMA!!!

Read more at http://investmentwatchblog.com/unemployment-numbers-are-rigged/#r1EOjM8P9eQvze2l.99

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Every Statistic About The US Economy Is Now A Lie

by IWB · July 1, 2015

Please – all the growth that the US generates is by fudging inflation data:

Let’s not forget that US inflation numbers are completely fake – so real US GDP is much, much lower:

The Chapwood Index for 2014 was 9.7% and official CPI in the land of the free was only 0.8%. So the Nominal GDP of 5.6% for 2014 becomes real GDP of -4.1%.

The revised real GDP for years 2011 to 2013 worked out to -6.2%, -6.5%, -6.5% respectively.

What is the Chapwood Index?

The Chapwood Index reflects the true cost-of-living increase in America. Updated and released twice a year, it reports the unadjusted actual cost and price fluctuation of the top 500 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation.”

http://www.zerohedge.com/news/2015-05-29/inaccurate-statistics-and-threa…

The 1.26% inflation measure used to deflate first quarter nominal GDP is unrealistic, as Americans who make purchases are aware.

A reasonable correction to the understated deflator gives a much higher first quarter contraction. The two main causes of inflation’s understatement are the substitution principle introduced during the Clinton regime and the hedonic adjustments ongoing since the 1980s that redefine price rises as quality improvements. Correcting for excessive hedonic adjustments gives a first quarter real GDP contraction of 5%. Correcting for hedonic and substitution adjustments gives a first quarter real GDP contraction of 8.5%.

Realistic economic analysis is a rarity. The financial press echoes Wall Street, and Wall Street economists are paid to help sell financial instruments. Gloomy analysis is frowned upon. Even negative quarters are given a positive spin.

http://www.paulcraigroberts.org/2014/07/08/deteriorating-economic-outloo…

Here is you real unemployment:

Every statistic about the US economy is now a lie as David Stockman looks at 5.5% unemployment:

At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.

By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!


Read more at http://investmentwatchblog.com/every-statistic-about-the-us-economy-is-now-a-lie/#ohI6MjGhx39SVpjR.99
Edited by Steven Gaal
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Microsoft Lays Off Thousands While Demanding More H1-B Visas

  • dailycaller
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Tech giant Microsoft announced Wednesday that it will be laying off approximately 7,800 employees worldwide, bringing a denunciation from a federal lawmaker who says the firings expose the company’s calls for more immigration.

The firings, which will eliminate about 7 percent of the company’s workforce, are concentrated in Microsoft’s troubled mobile phone business, and will eliminate most of the remaining employees from its purchase of Nokia’s phone operation in 2013. Only some of the layoffs are in the U.S., with Finland being hit especially hard with over 2,ooo jobs lost. The firings follow up on the 18,000 layoffs the company made last year, which were also concentrated in the phone business.

Now, Republican Sen. Jeff Sessions of Alabama is slamming Microsoft, saying the layoffs show it is being dishonest when it lobbies for increased immigration into the United States.

“Microsoft has shed roughly 1/5th of its workforce in the past couple years,” Sessions said in a statement sent to The Daily Caller News Foundation. “And yet Microsoft, perhaps more than any other major U.S. company, has claimed it suffers from a shortage of capable American workers and must therefore import more H-1B foreign guest workers.”

Sessions is a top GOP critic of immigration reform efforts that would offer amnesty for illegal immigrants or allow a surge of new visas for foreign workers. Microsoft, on the other hand, has lobbied intensely for more immigration. The company has endorsed the I-Squared Act of 2015, which would triple the number of H-1B temporary work visas from 65,000 to over 195,000. Microsoft claims it’s unable to fill all its job openings unless the H-1B visa program is expanded to let more skilled workers into the United States. The company is one of the three biggest H-1B employers in the country, and back in 2007 company founder Bill Gates suggested the U.S. should allow an “infinite” number of H-1Bs.

Sessions says Microsoft is simply looking to use cheaper immigrants as a way to drive down labor costs and undercut American workers.

“As Microsoft’s layoffs show, there is a surplus—not a shortage—of skilled, talented, and qualified Americans seeking [science, technology, engineering and mathematics] STEM employment,” he said. “Each year, universities graduate twice as many students with STEM degrees as find STEM jobs. According to the Census Bureau, more than 11 million Americans with STEM degrees are not employed in STEM jobs—or three in four STEM degree holders. Among recent graduates, about 35 percent of science students, 55 percent of technology students, 20 percent of engineering students, and 30 percent of math students are now working in jobs that don’t require any four-year college degree—let alone their area of specialty.”

Sessions made a similar denunciation of Microsoft last year after its first layoff wave.

Read more: http://dailycaller.com/2015/07/08/microsoft-lays-off-thousands-while-demanding-more-h1-b-visas/#ixzz3fS4agj3p

Edited by Steven Gaal
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It was a rough morning for the US economy

Read more: http://www.businessinsider.com/bad-morning-for-the-us-economy-2015-7#ixzz3gGwDwNlV

Tuesday was a rough morning for the US economy.

Retail sales were a big miss.

Small-business optimism declined.

And in a note to clients after these reports, Ian Shepherdson summed up Tuesday's economic data dump by writing, "Taken together with the drop in the NFIB small business survey reported earlier, the numbers today paint a picture of an economy stuttering in June, likely under the weight of the rebound in gas prices and the drop in stock prices."

Retail sales in June fell 0.3%, well below expectations for a 0.3% increase. Excluding cars, auto sales in June fell 0.1%, and the "control" retail-sales reading declined 0.1%. The retail-sales control group excludes car sales, tobacco stores, mobile-home sales, gas-station sales, building materials, and office supplies.

On a year-over-year basis, control retail sales rose 2.1%, the smallest increase since February 2014, according to Bloomberg's Matt Boesler.

The retail-sales report also showed that June sales at clothing stores and grocery stores, as well as at bars and restaurants, declined from the prior month. A disappointment any way you cut it up.

fredgraph%20(6)-1.jpgFREDRetail sales have been doing nothing but disappointing.

Meanwhile, the less heralded but still important small-business reading from the National Federal of Small Businesses was a miss.

The NFIB's Business Optimism index fell to 94.1 in June from 98.5 in May, and in its release the NFIB said the reading was "not a recession signal" but was "a clear sign that economic growth on Main Street is not set for a strong second half."

The report indicated that small businesses essentially added no jobs in June, while earnings indicators were particularly disappointing, as a net negative 17% of small businesses reported higher wages in June.

And so while Fed chair Janet Yellen on Friday indicated that she still expected it would be appropriate for the Fed to raise rates sometime this year, questions still remain about whether the US economy will be strong enough to warrant this change in policy.

janet-yellen-382.jpgAP ImagesFed chair Janet Yellen: "What to do about the US economy?"

In June we've gotten a disappointing jobs report and now a disappointing retail-sales report, perhaps the two most important economic indicators on a month-to-month basis.

Shepherdson still expects a bounceback in the data when we get July's readings, with this leading to a rate hike by the Fed in September. But of course, it depends.

"One soft month is not a trend," Shepherdson writes, "and two more retail sales reports will be released before the September FOMC meeting. If they both look like this, the Fed won't tighten, but we think that's very unlikely."

{C}

SEE ALSO: Retail sales flop

Read more: http://www.businessinsider.com/bad-morning-for-the-us-economy-2015-7#ixzz3gGvpaXJ0

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