Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month

Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month:

So much for that much anticipated rebound in the participation rate.

After it had managed to post a modest increase in the early part of the year, hitting the highest level in one year in March at 63%, the disenchantment with working has returned, and the labor force participation rate had flatlined for the next few month, ultimately dropping in November to 62.7%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 446,000 in November, hitting an all time high of 95.1 million.

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As a result of this the US labor force shrank by 226,000 to 159,486K, down from 159,712K a month ago, and helped the unemployment rate tumble to 4.6%, the lowest level since August 2007.

Read moreAmericans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month

Airbus to fire 1,100 workers amid losses, Iran dilemma

H/t reader squodgy:

“This will speed up the Sino-Russian project.
If the US sanctions screw up sales of planes by both puppet aircraft manufacturers Boeing & Airbus, the US are cutting everyone’s noses to spite Iran.”

Related info:

Russia & China reveal their alternative to Airbus & Boeing


airbus-layoffs
The layoffs will be spread across four countries in Europe.

Airbus to fire 1,100 workers amid losses, Iran dilemma:

Airbus has announced plans to cut more than 1,100 jobs across Europe and close one of its sites in the Paris region, capping a year marked by a series of losses.

The company has been running into headwinds with its A350 passenger jet – Airbus’s answer to the Boeing 787 Dreamliner – which has missed several targets to take off commercially.

Airbus has also suffered losses of about two billion euros on its A400M military transporter while its helicopter division has suffered from a weak market.

According to Airbus spokesman Jacques Rocca, the layoffs will be spread across four countries, with 640 jobs cut in France, 429 in Germany, 54 in Britain and 39 in Spain.

Read moreAirbus to fire 1,100 workers amid losses, Iran dilemma

Wal-Mart To Fire 7,000

Wal-Mart To Fire 7,000:

Setting the mood ahead of tomorrow’s “critical” for the Fed’s September rate hike decision payrolls report, moments ago, WSJ reported that Wal-Mart Stores plans to cut 7,000 back office positions around the country, a restructuring move that in addition to seeking to improve its efficiency, will drastically alter the layout of its workforce, which as recently as a year ago was delighted by WMT’s minimum wage price hikes.

WSJ reports that the country’s largest private employer is eliminating about 7,000 U.S. store accounting and invoicing positions over the next several months, jobs mostly held by long-term employees, often some of the highest paid hourly workers in stores. The retailer wants those employees working with shoppers, not in backrooms, say company executives. Centralizing or automating much of those tasks is more efficient, they say.

Read moreWal-Mart To Fire 7,000

When ‘Whatever It Takes’ Fails: 37% Of Italians Give Up Job Hunt As Welfare State Grows

When ‘Whatever It Takes’ Fails: 37% Of Italians Give Up Job Hunt As Welfare State Grows:

With France calling for the EU’s budget limits to be lifted and everyone breaking every rule of fiscal responsibility – because Draghi has killed the market’s signal – the fear of ever deepening deficits is (for now) removed. Enabling governments to do “whatever it takes” to get re-elected, because reforms are vote-killers, has incentivized an ever-growing group of Europeans to simply give up the job search… with Italians at the top of the list…

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Going from the final quarter of 2015 through March of this year, 37 percent of unemployed Italians gave up their job search, while only 13 percent landed new work and a full half found their status unchanged.

Read moreWhen ‘Whatever It Takes’ Fails: 37% Of Italians Give Up Job Hunt As Welfare State Grows

John Williams Of Shadowstats.com: We Won’t Get Through The Elections Without Major Disruptions To The Finanical System – “The Dollar Is Going To Collapse” (Video)

Jun 10, 2016

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China’s Real Unemployment Rate Is Three Times Higher Than The Offical Number

China’s Real Unemployment Rate Is Three Times Higher Than The Offical Number:

Based on a new report by Fathom Consulting, it appears that China is also dramatically misreporting what may be the one most critical for social stability metric, its unemployment rate, which when stripped away of the political propaganda, is more than three times greater than the officially reported rate. According to Fathom, China’s underemployment Indicator has tripled to 12.9% since 2012 even while the official jobless rate has hovered near 4% for five years.

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Worst Jobs Report In Nearly 6 Years – 102 Million Working Age Americans Do Not Have Jobs

Worst Jobs Report In Nearly 6 Years – 102 Million Working Age Americans Do Not Have Jobs:

This is exactly what we have been expecting to happen.  On Friday, the Bureau of Labor Statistics announced that the U.S. economy only added 38,000 jobs in May.  This was way below the 158,000 jobs that analysts were projecting, and it is also way below what is needed just to keep up with population growth.  In addition, the number of jobs created in April was revised down by 37,000 and the number of jobs created in March was revised down by 22,000.  This was the worst jobs report in almost six years, and the consensus on Wall Street is that it was an unmitigated disaster.

Read moreWorst Jobs Report In Nearly 6 Years – 102 Million Working Age Americans Do Not Have Jobs

In Today’s Layoff News: Microsoft Fires 1,850; Intel Cuts 350; Shell Terminating 2,200

In Today’s Layoff News: Microsoft Fires 1,850; Intel Cuts 350; Shell Terminating 2,200:

How do you know the Fed is justified in hiking again, the economy is recovering, and the market are zooming higher? One hint is the just announced thousands in layoffs in both the energy and tech sector, among which are Shell, which announced it would layoff 2,200 jobs; Microsoft reporting it would cut 1,850; and Intel terminating up to 350 jobs in Germany.

The details:

Read moreIn Today’s Layoff News: Microsoft Fires 1,850; Intel Cuts 350; Shell Terminating 2,200

562,000 Workers Drop Out Of The Labor Force As Participation Rate Resumes Drop

Labor Force Participation Rate

562,000 Workers Drop Out Of The Labor Force As Participation Rate Resumes Drop:

In addition to the poor headline Establishment survey print which rose only 160,000 in April, coupled with a deplorable Household survey employment number which plunged by 316,000 for the month and below levels seen in February, an even more concerning development was the resumption in the deteriorating trend in the US labor force participation rate, which in recent months had been on a steady increase as far fewer workers were dropping out of the workforce (contrary to convention wisdom, this was not driven by new entrants into the labor force).

All that changed today, when the number of Americans not in the labor force soared by a whopping 562,000 in April, pushing the grand total of people not in the labor force back over 94 million and fast approaching the all time high of 94.6 million.

Read more562,000 Workers Drop Out Of The Labor Force As Participation Rate Resumes Drop