Unemployment

The New Misery Index: Misery Index 2.0 Strips Away The Phony Facade Of Bogus Unemployment And Inflation Numbers

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– The New Misery Index (Of Two Minds, Aug 25, 2014):

The Status Quo is desperate to mask the declining fortunes of those who earn income from work, and the Misery Index 2.0 strips away the phony facade of bogus unemployment and inflation numbers.

The classic Misery Index is the sum of unemployment and inflation, though later variations have added interest rates and the relative shortfall or surplus of GDP growth.
Since the Status Quo figured out how to game unemployment and inflation to the point that these metrics are meaningless except as a meta-measure of centralized perception management, the Misery Index has lost its meaning as well.

I propose a Misery Index 2.0 of four less easily manipulated (and therefore more meaningful) metrics:

Read moreThe New Misery Index: Misery Index 2.0 Strips Away The Phony Facade Of Bogus Unemployment And Inflation Numbers

Number Of French Jobless Rise To New Record

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– Number Of French Jobless Rise To New Record (ZeroHedge, July 25, 2014):

With “recoveries” like these who needs staged, false flag conflicts and wars covering over 10% of the globe? Well, socialist France for one which moments ago announced that total jobless rose from 3.389 million to 3.398 million, a new record high. Surprisingly, while the year-over-year unemployment change for people under 25 declined by 3.1%, it was workers 25-49 which saw a material 3.3% increase in joblessness, but it was workers aged 50 and older that saw a veritable surge in unemployment, rising by 11.5% from a year ago. Surely, just like in the US, this is due to young people retiring in droves.

Reuters reports:

Read moreNumber Of French Jobless Rise To New Record

The Rot Within, Part I: Our Ponzi Economy

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– The Rot Within, Part I: Our Ponzi Economy (OfTwoMinds, July 21, 2014):

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Depending on blowing the next bubble to temporarily prop up the economy is the height of foolhardy shortsightedness. Yet that’s our Status Quo, increasingly dependent on inflating bubbles to evince “economic strength” when the Ponzi paint will soon peel off the rotten wood of the real economy.

Microsoft Announces Record 18,000 Layoffs, Three Time More Than Expected

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Microsoft

–  Microsoft Announces Record 18,000 Layoffs, Three Time More Than Expected (ZeroHedge, July 17, 2014):

While the news was reported earlier this week, it is perhaps notable that what was once considered the leading US tech company has also succumbed to the great “jobless” US recovery (in which the US economy is somehow adding 200K+ jobs every month even as it is firing millions). Furthermore, what was supposed to be 6,000 layoffs has just tripled to 18,000, which also happens to be the largest round of layoffs in MSFT history, surpassing the previous record of 5,800 set back in 2009.

From the PR:

Read moreMicrosoft Announces Record 18,000 Layoffs, Three Time More Than Expected

Dr. Paul Craig Roberts: ‘The US Economy’s Phantom Jobs Gains Are A Fraud’

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Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.

– Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud (Paul Craig Roberts, July 7, 2014):

By Paul Craig Roberts

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the 288,000 June jobs and 6.1% unemployment rate are “far removed from common experience and underlying reality.” Payrolls were overstated by “massive, hidden shifts in seasonal adjustments,” and the Birth-Death model added the usual phantom jobs.

Read moreDr. Paul Craig Roberts: ‘The US Economy’s Phantom Jobs Gains Are A Fraud’

RECOVERY: June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993

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– June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993 (ZeroHedge, July 3, 2014):

Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!

Full Part Time June

Looking at the breakdown of full and part-time jobs so far in 2014, we find that 926K full-time jobs were added to the US economy. The offset: 646K part-time jobs.

Full Time LTM

Something tells us that the fact that the BLS just reported June part-time jobs rose by just shy of 800,000 the biggest monthly jump since 1993, will hardly get much airplay today. Because remember: when it comes to jobs, it is only the quantity that matters, never the quality.

Read moreRECOVERY: June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993

RECOVERY: People Not In Labor Force Rise To New Record, Participation Rate Remains At 35 Year Lows

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– People Not In Labor Force Rise To New Record, Participation Rate Remains At 35 Year Lows (ZeroHedge, July 3, 2014):

Those following the labor force participation rate (which as even the Census Bureau showed is declining not so much due to demographics but due to older people working longer and pushing younger people out of the labor force as we showed yesterday) will hardly be surprised to learn that alongside today’s impressive NFP print, the reason why the unemployment rate took another big step lower from 6.3% to 6.1%, was once again as a result of the number of people not in the labor force, which in June rose to a fresh record high of 92,120K, up 111K from June.

People not in labor force June

The civilian employment to population ratio remained at cycle lows, if rising modestly from 58.9% to 59.0%

Read moreRECOVERY: People Not In Labor Force Rise To New Record, Participation Rate Remains At 35 Year Lows

18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014

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– 18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014 (Economic Collapse, June 30, 2014):

A lot of people that I talk to these days want to know “when things are going to start happening”.  Well, there are certainly some perilous times on the horizon, but all you have to do is open up your eyes and look to see the global economic crisis unfolding.  As you will see below, even central bankers are issuing frightening warnings about “dangerous new asset bubbles” and even the World Bank is declaring that “now is the time to prepare” for the next crisis.  Most Americans tend to only care about what is happening in the United States, but the truth is that serious economic trouble is erupting in South America, all across Europe and in Asian powerhouses such as China and Japan.  And the endless conflicts in the Middle East could erupt into a major regional war at just about any time.  We live in a world that is becoming increasingly unstable, and people need to understand that the period of relative stability that we are enjoying right now is extremely vulnerable and will not last long.

The following are 18 signs that the global economic crisis is accelerating as we enter the last half of 2014…

Read more18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014

Spain Celebrates The “End Of The Recession” With 54% Youth Unemployment, Highest Since January

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– Spain Celebrates The “End Of The Recession” With 54% Youth Unemployment, Highest Since January (ZeroHedge, July 1, 2014):

When we were greeted by the latest batch of optimistic Spanish data this morning, such as the following:

we thought, we would see some actual “end of recession” signals when it came to the underlying economy, like for example: jobs actually being created. Alas no. According to the just released European employment data for May, total Spain unemployment remained unchanged in May at 25.1%, while youth unemployment has actually risen to 54.0% – the highest since January!

Read moreSpain Celebrates The “End Of The Recession” With 54% Youth Unemployment, Highest Since January

France: Joblessness Soars To Record High; Rises For 36th Month In A Row

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– French Joblessness Soars To Record High; Rises For 36th Month In A Row (ZeroHedge, June 26, 2014):

More Hollande ‘broken promises’ as French joblessness reaches a new record high. Aside from the idiotic month when officials forgot to send text messages, this is the 36th month in a row of worsening employment in France. That must explain why, along with a collapsing PMI, French bond risk remains near record lows…

20140626_FRA

 

Even The Feds Admit Minimum Wages Cause Unemployment

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Need A Job

–  Even The Feds Admit Minimum Wages Cause Unemployment (Ludwig von Mises Institute, June 17, 2014):

Minimum wage doesn’t apply to everyone.

When Congress first established minimum wage in the Fair Labor Standards Act of 1938, it left a loophole for businesses that employ people with disabilities.

The Secretary, to the extent necessary to prevent curtailment of opportunities for employment, shall by regulation or order provide for the employment, under special certificates, of individuals … whose earning or productive capacity is impaired by age, physical or mental deficiency, or injury, at wages which are lower than the minimum wage.

Read moreEven The Feds Admit Minimum Wages Cause Unemployment

500% Rise In Spain’s Long-Term Unemployment

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–  500% Rise in Spain’s Long-Term Unemployment (ZeroHedge, May 30, 2014):

With yields at record lows and stocks soaring, is it any wonder that the politicians of Europe’s periphery are proclaiming victory over the crisis (and yet oddly imploring Draghi to do moar?). Perhaps, just perhaps, they are keeping one eye on the ‘real’ economic progress that is being made (or un-made) in their nations… such as Spain, where there are now 1.26 million people who have been jobless since 2010 and the long-term unemployment rate has risen by more than 500% since 2007.

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Global Youth Unemployment (Chart Of The Day)

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– Chart Of The Day: Global Youth Unemployment (ZeroHedge, May 28, 2014):

We have some bad news… for Africa: according to the latest data released by the International Labor Organization, your youth unemployment problem is almost as bad as that of Europe.

Youth Unemployment Global

Maybe more to the point, just what is it about those bracing Mediterranean sea breezes (not to mention mandated Eurozone “political capital” and relentlessly liberating – of one’s job – globallization) that makes the young people in the adjoining countries choose to do pretty much anything but work?

Source: ILO

 

27 Huge Red Flags For The U.S. Economy

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– 27 Huge Red Flags For The U.S. Economy (Economic Collapse, May 20, 2014):

If you believe that the U.S. economy is heading in the right direction, you really need to read this article.  As we look toward the second half of 2014, there are economic red flags all over the place.  Industrial production is down.  Home sales are way down.  Retail stores are closing at the fastest pace since the collapse of Lehman Brothers.  U.S. household debt is up substantially, and in 20 percent of all U.S. families everyone is unemployed.  In so many ways, what we are witnessing right now is so similar to what we experienced during the build up to the last great financial crisis.  We are making so many of the very same mistakes that we made the last time, and yet our “leaders” seem completely oblivious to what is happening.  But the warning signs are very clear.  All you have to do is open your eyes and look at them.

The following are 27 huge red flags for the U.S. economy…

Read more27 Huge Red Flags For The U.S. Economy

US Unemployment Rate Hits 37.2%

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Related Info:

– RECOVERY: The Number Of Working Age Americans Without A Job Has Risen By 27 MILLION Since 2000

– Another Million People Drop Out Of Labor Force – Now An All Time High 92 Million People Are Out Of The Labor Force

– Wall Street Adviser: Actual Unemployment Is 37.2%, ‘Misery Index’ Worst In 40 Years

–  US Unemployment Rate Hits 37.2% (Wealthy Debates, May 14, 2014):

Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Read moreUS Unemployment Rate Hits 37.2%

RECOVERY: The Number Of Working Age Americans Without A Job Has Risen By 27 MILLION Since 2000

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– The Number Of Working Age Americans Without A Job Has Risen By 27 MILLION Since 2000 (Economic Collapse, May 4, 2014):

Did you know that there are nearly 102 million working age Americans that do not have a job right now?  And 20 percent of all families in the United States do not have a single member that is employed.  So how in the world can the government claim that the unemployment rate has “dropped” to “6.3 percent”?  Well, it all comes down to how you define who is “unemployed”.  For example, last month the government moved another 988,000 Americans into the “not in the labor force” category.  According to the government, at this moment there are 9.75 million Americans that are “unemployed” and there are 92.02 million Americans that are “not in the labor force” for a grand total of 101.77 million working age Americans that do not have a job.  Back in April 2000, only 5.48 million Americans were unemployed and only 69.27 million Americans were “not in the labor force” for a grand total of 74.75 million Americans without a job.  That means that the number of working age Americans without a job has risen by 27 million since the year 2000.  Any way that you want to slice that, it is bad news.

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Workers Younger Than 55 Lost 259K Jobs In April

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– Workers Younger Than 55 Lost 259K Jobs In April (ZeroHedge, May 2, 2014):

Taking another peek beneath the only headline that vacuum tubes and algos care about, namely the headline establishment survey print, reveals another mockery of a “recovery”, because in addition to the farce that 1 million Americans were added to the “not in labor force” number, a breakdown of jobs added by age group reveals more of the same. Namely, in the one most important age group for jobs, those workers aged 25-54 which represent the bulk of the US labor force and are also the best and most productive group, the total number of jobs tumbled from 95,360K to 95,151K, a drop of 209K!

But wait, because it wasn’t just the most important age group bucket: it was all younger workers who got the shaft: jobs in the 16-19 age group dropped by 24K, while those in the 20-24 age group declined by another 26K, which means that in the “young” workers category, those under 55, some 259K jobs were lost.

So did anyone gain jobs in April? Why yes: according to the establishment survey, the only beneficiary of whatever this “recovery” is, were workers aged 55-69, who gained 174K jobs.

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Related info:

– Another Million People Drop Out Of Labor Force – Now An All Time High 92 Million People Are Out Of The Labor Force

Another Million People Drop Out Of Labor Force – Now An All Time High 92 Million People Are Out Of The Labor Force

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– One Million People Dropped Out Of Labor Force In April: Participation Rate Plummets To Lowest Since 1978 (RT, May 2, 2014):

And so the BLS is back to its old data fudging, because while the Establishment Survey job number was a whopper, and the biggest monthly addition since January 2012, the Household Survey showed an actual decline of 73K jobs. What is much worse, is that the reason the unemployment rate tumbled is well-known: it was entirely due to the number of Americans dropping out of the labor force. To wit, the labor force participation rate crashed from 63.2% to 62.8%, trying for lowest since January 1978! And why did it crash so much – because the number of people not in the labor force soared to 92 million, the second highest monthly increase ever, or 988K, only ‘better’ than January 2012 which curiously was the one month when the establishment survey reported a 360K “increase” in jobs.

End result: the number out of the labor force is now an all time high 92 million, and the labor force tumbled by 800K to 155.4 million from 156.2 million as the delayed effect of the extended jobless benefits ending finally hits. What is most amusing is that the “persons who currently want a job” was unchanged at 6,146K – even the BLS said it was “puzzled why so many unemployed people are not looking for jobs.” We have some ideas, and no, they don’t include the addition of 234K “birth/death adjustment” jobs.

Participation Rate:

Read moreAnother Million People Drop Out Of Labor Force – Now An All Time High 92 Million People Are Out Of The Labor Force

This Is What Employment In America Really Looks Like …

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– This Is What Employment In America Really Looks Like… (Economic Collapse, April 6, 2014):

The level of employment in the United States has been declining since the year 2000.  There have been moments when things have appeared to have been getting better for a short period of time, and then the decline has resumed.  Thanks to the offshoring of millions of jobs, the replacement of millions of workers with technology and the overall weakness of the U.S. economy, the percentage of Americans that are actually working is significantly lower than it was when this century began.  And even though things have stabilized at a reduced level over the past few years, it is only a matter of time until the next major wave of the economic collapse strikes and the employment level goes even lower.  And the truth is that more good jobs are being lost every single day in America.  For example, as you will read about below, Warren Buffett is shutting down a Fruit of the Loom factory in Kentucky and moving it to Honduras just so that he can make a little bit more money.  We see this kind of betrayal over and over again, and it is absolutely ripping the middle class of America to shreds.

Read moreThis Is What Employment In America Really Looks Like …

Check Out These 8 New ‘Record Highs’

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– Check out these 8 new ‘record highs’. #6 is a real shocker. (Sovereign Man, March 31, 2014):

There’s nothing like a nice cup of reality first thing on Monday morning.

If you’ve been a reader for any length of time, you know one of the things I periodically do is scan headlines for phrases like “record high” or “all time high”.

The results can often given an interesting big picture perspective of what’s happening in the world.

Read moreCheck Out These 8 New ‘Record Highs’

French Jobless Rate Surges To New Record High

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– French jobless rate surges to new record (The Local/AFP, March 26, 2014):

The number of jobless in France surged by 0.9 percent in February to a new record of 3.34 million, the labour ministry said on Wednesday.

The number of new jobseekers rose by 31,500 last month, it said, admitting there had been a “marked progression” in unemployment.

The rise is likely to put increased pressure on President Francois Hollande, with the overall number of jobseekers having increased by more than 420,000 since he took office in May 2012.

Read moreFrench Jobless Rate Surges To New Record High

What Happens To America’s Long-Term Unemployed (Spoiler Alert: Nothing Good)

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See also:

– This Chart Is A True Picture Of the Unemployment Crisis In America

– Wall Street Adviser: Actual Unemployment Is 37.2%, ‘Misery Index’ Worst In 40 Years

– RECOVERY: People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels

– RECOVERY: U.S. Workforce-Participation Rate At 35-Year Low

– The Real Unemployment Rate In The U.S. Is At Least 30%

– Fake Employment Numbers – And 5 More Massive Economic Lies The U.S. Government Is Telling You

– What Happens To America’s Long-Term Unemployed (Spoiler Alert: Nothing Good) (ZeroHedge, March 24, 2014):

The number of people unemployed for 27 weeks or longer in the US rose by 203,000 in February to 3.8 million. As we noted previously, this is the desperate shadow hanging over the so-called recovery. What is more problematic is the stunning findings of a new study that only 11% of the long-term unemployed in any given month found full-time work a year later.

20140324_11pc

Via The LA Times,

…three Princeton economists found that only 11% of the long-term unemployed in any given month found full-time work a year later.

Read moreWhat Happens To America’s Long-Term Unemployed (Spoiler Alert: Nothing Good)

This Chart Is A True Picture Of the Unemployment Crisis In America

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– This Chart Is A True Picture Of the Unemployment Crisis In America (Testosterone Pit, March 22, 2014):

The unemployment rate is a complex measure based on surveys and some grotesque definitions, including who gets counted as “unemployed.” These definitions eliminate millions of jobless people from the list of the officially “unemployed.” The resulting grotesque data – grotesque in, grotesque out – is then adjusted to paper over nagging real-world issues, such as seasonality. The result is a number that is easy to toss around during speeches but hard to use for gauging what’s really going on in the labor market.

The unemployment rate’s inability to accurately portray the labor market has caught so much flak that even the Fed abandoned it as a trigger for unwinding its zero-interest-rate policy. Instead, it will “take into account a wide range of information….”

Read moreThis Chart Is A True Picture Of the Unemployment Crisis In America