Unemployment Rate Hits The Lowest Level Since 1969 Does Obama Still want Credit?

So many of the American public are mentally liberal. Job numbers. Economic growth, security is not important.

They would trade that in for a .....

a reply to: LadyGreenEyes
But those jobs, those middle class, well paying jobs haven’t come back. What they are mostly replaced with is minimum wage, non value added jobs.

a reply to: pexx421

Most never will. The bigger picture is making sure no more leave. Obama did nothing and was fine with more leaving. Trump's actions are halting that mostly.

a reply to: OccamsRazor04
Here ya go:

More Jobs Fictions
By Paul Craig Roberts

September 09, 2018 "Information Clearing House" - According to today’s payroll jobs report from the Bureau of Labor Statistics, the economy created 200,000 new jobs in August. These jobs, assuming that they exist, are reported to be in low paid domestic service jobs such as transporting and selling goods, ambulatory health care services, and waiting tables and mixing drinks. There are none in manufacturing or in the “high tech clean fingernail” jobs that neoliberal economists promised the American work force in exchange for letting the industrial and manufacturing jobs go to Asia.

The great mystery is how these jobs can possibly have been created when the Bureau of Labor Statistics Household Data (Table A) www.bls.gov... reports that the civilian labor force declined by 469,000 in August from the level in the previous month (July); that employment declined by 423,000 in August from the previous month; and that 692,000 Americans dropped out of the labor force in August. Year over year (August 2017-August 2018) 1,531,000 Americans have left the labor force. This is inconsistent with a booming economy at full employment.

Never Miss Another Story

It is not explained how during August the Household Survey found unemployment to rise by 423,000 and the work force to shrink by 692,000 for a total of 1,115,000 missing working people, but the economy created 200,000 new payroll jobs.

According to the financial presstitutes, we have a booming economy and labor shortages stemming from a 3.9% unemployment rate, which if it were real would probably be the lowest in my lifetime. Economists are puzzled why there is no upward pressure on wages when there are not enough workers to go around. All of this mystery is due to the fact that the unemployment rate does not count workers who cannot find jobs and have dropped out of the work force. If an unemployed person has not looked for a job in the past four weeks, the unemployed person is not counted as unemployed.

The Employment Situation Summary www.bls.gov... states that there are 4.4 million workers who are involuntary part-time workers because they cannot find full time jobs. So we have a booming economy in which there are more workers than full time jobs!

The Employment Situation Summary also says that there are 1.4 million workers who are not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.”

The financial presstitutes are not doing their job. All the financial presstitutes do is to print the headline on the press release that is handed to them—200,000 new jobs in August.

Consequently, considering all the contradictions in the BLS data and the inaccurate measure of unemployment, we really have no idea of the state of the economy.

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.

originally posted by: pexx421
And I mean this. You are all literally losing your country while clinging to repub or dem, Obama or bush or trump, meanwhile all your rights are being taken away, and your right to the wealth that you earn. Unless we all come together to unequivocally reject both parties and all they truly stand for, we will all be serfs in an autocratic corporatocracy, living off their scraps, trying to get by in a polluted poisonous world, where the cops or military can come into your home, any time, help themselves to all your things, and kill your dog. This is what both parties are working towards. And it’s not far off.

And it only gets ever harder to do anything about it as time goes on.

List the rights that have been taken away thus far.

a reply to: CriticalStinker

Except that the whole world runs on fossil fuels. And America is now the worlds largest exporter of oil.
Additionally, "clean" energy is not cost effective, with the exception of nuclear energy. Solar energy isn't efficient enough to power vehicles or cities and has a large carbon footprint in the production of it.

Electric cars still run on lithium batteries, which has a large environmental impact on the regions where it's mined. Not to mention the hazards and carbon footprint of recycling and/or disposing of them.

Clean energy sounds good, but at this point it's still a shell game as far as it actually being clean.

originally posted by: pexx421
there are 4.4 million workers who are involuntary part-time workers because they cannot find full time jobs.

Thank Obama. He forced companies to hire people part time to artificially inflate job growth under his administration via the ACA.

www.marketwatch.com...

a reply to: shawmanfromny


I have personally seen a difference in unemployment. You can’t drive anywhere without seeing help wanted signs.


5 years ago under the Obama administration; I applied for over 50 jobs in a 6 month period and got no callbacks; I was so desperate at the time I even applied at one of the fast food big names. That Co 🤡 actually had college requirements for their applicants.

I visited said 🤡 franchise a few months later, and to my horror, the man trying to take my friend and my order, spoke maybe 5 words in English; my friend is from Brooklyn NY, speaks a few languages, and she couldn’t even make out what he saying.

I had been out of work for the last year due to knee surgery, miniscus to be exact. Was dreading the job search experience. Literally got a phone call 1 hour after I applied for current job. I love my new job, and there is potential for growth as well.

Obama damn near ruined this country. I had hoped he would have done better as I voted for him the first time.

I am now a registered Republican 🇺🇸

Thank you President Trump, you are amazing!


To all the people complaining about part-time jobs. It won’t be fixed overnight. Really hard to do when you have whiner babies creating FAKE controversies.

a reply to: network dude
Right to free speech. Check Julian Assange, Bradley Manning, any whistleblowers the govt goes after.

The right to assemble and seek redress from govt. protesters are regularly arrested, beaten and brutalized.

The right to due process. People are now regularly held without representation or due process.

The right to freedom from illegal search and seizure. The police can now pull you over and confiscate any large sums of money you possess with no due process. The can also come into your home without warning, or even without a judge written warrant.

The right to freedom from intrusion in your life, papers and affects. The police and govt can now go through all your things with no warrant from a judge, with no real probable cause.

Basically all the bill of rights.

a reply to: KTemplar
Help wanted signs are only posted at minimum or close to minimum wage paying jobs. My hospital doesn’t have help wanted signs, neither does Goldman Sachs, Amazon, etc. So yes. There are plenty more minimum wage jobs. Thanks trump, about what I expected. Enough to replace what was before? Not close.

Wages need to rise by a lot more before I will believe it.
That is the true indicator in capitalism that demand is high for workers.

a reply to: OccamsRazor04
It’s not Obama. It’s every president or congressman we’ve had on both sides. Including Obama. And trump won’t help this either. Wait till the trade war starts affecting Walmart and all the Chinese goods we get cheap. We will lose any trade war because all we have is oil, and we depend on others for everything else. No mistake, I am happy for this. I hope Wally and all the other slave labor companies go out of business from it, and we’re forced to start manufacturing again. I’m sure it will be the best thing for us. But.... I’m sure that’s not his intent. I’m sure it will be hard on the poor for some time. And I’m sure that business will have to start paying more because of it. And we will get more middle class manufacturing jobs.

a reply to: pexx421




It’s called get your foot in the door, and work your way up.

Or keep searching.

Retrain perhaps, network socially.

Personally, I am thrilled there are jobs opening up for teens. The alternative to that is drug dealing/gang life.


Life is what you make it!

a reply to: pexx421

Hmmm....do I really give a rat's azz what a guy says, who believes our President is insane?

The Trump Regime Is Insane Paul Craig Roberts

www.paulcraigroberts.org...

Who also has written articles for VDARE.

Now run by the VDARE Foundation, the site is a place where relatively intellectually inclined leaders of the anti-immigrant movement share their opinions. VDARE.com also regularly publishes articles by prominent white nationalists, race scientists and anti-Semites.

www.splcenter.org...

Roberts is a right wing white supremacist who has written repeatedly anti-disability, anti-jewish, anti-gay, anti-immigrant anti- people of color, rants for years. (and while attempting to be “pro-Islam, pro-Arab”, his assertions are rife with orientalist assumptions of Amerikan/western superiority.) His critique of U.S./Israeli policy is not part of a human rights, social justice, anti-imperialist movement for self-determination or liberation, but rather is simply an extension of his white supremacist fear that white people and Amerika are losing ground. Roberts has written for years for VDARE (a racist publication, named for Virginia Dare, the first “white” baby to be born in the “New World”), but recently he has been published, without criticism or reference to his racist, ableist, sexist anti-gay, anti-immigrant, anti-Jewish, anti-Arab trajectory by Counterpunch, ifamericansknew, antiwar.com, Democracy Now, Information Clearing House, Alternet and other “progressive” media.

cafeintifada.wordpress.com...

There has been a steady increase in good paying jobs, not just part-time jobs and "low paid domestic service jobs".

Job gains for September were concentrated in professional and business services, which rose by 54,000. Health care saw 26,000 new positions while transportation and warehousing was up 24,000. Construction continued to show gains with 23,000, while new hires in manufacturing increased by 18,000 thanks to a gain in durable goods-related industries.

www.bea.gov...

If the economy is so bad, with so many unemployed, then how come personal income and real consumer spending increasing?

The financial presstitutes are not doing their job.

I think Dr. Paul Craig Roberts is a scare monger, who has a hard-on against Trump and likes to use derogatory words (presstitutes) in describing economists, like Gus Faucher, chief economist at PNC, who stated "The labor market is in excellent shape heading into the end of 2018, perhaps the best it has been in 50 years." What he states is his opinion and nothing more.

originally posted by: FamCore
a reply to: shawmanfromny

The government is counting individuals who have multiple part-time jobs as multiple people employed. Also, anyone who is no longer collecting unemployment benefits is not counted as "unemployed", even though they are (I believe your benefits only last for 32 weeks, if you're doing your job searches and have no income)

Also, anyone not actively looking for a job is not considered "unemployed" in their stats. The number they are sharing is a total farce

I would suggest looking at Shadowstats by John Williams for a more realistic stat: link

Excellent Post.
I have been following shadowstats for years over the state fed propaganda koolaid.
Trump even gave unemployment numbers before he was president that mirrored shadowstats.

But the real indicator is in wage increases which you expect to see under a high labor demand market and this is not happening.

a reply to: shawmanfromny

You are mistaken. Unless there is another Paul Craig Roberts. He was assistant secretary of treasury for economy for the us. And I’ve read his articles for years and they are nothing like you described. He is regularly critical of the us, and of both sides of the aisle.

a reply to: shawmanfromny
Go ahead and listen to your partisan cheerleader. All Roberts stats are from dept of labor. Also recall, your same economic leaders are the ones who were saying how rosy everything was in 07, calling those of us predicting the crash alarmists. You can look at my posts leading up to that time, where I was predicting a crash, and people were arguing with me then too. We see how that turned out.

High end / high skill jobs are seeing fairly significant increases in compensation. It is the low end that is still stagnant and that is mainly due to oversupply of unskilled workers.

A job that paid $115k/yr for me 20 years ago when I came out of business school is now paying about $160k. This is about the rate of inflation, however, it wasn't until a couple of years ago that those wages started keeping up. These companies had kept wages pretty flat / not increasing then all of a sudden exploded over the past two years to where they are now.

The thing people have to realize is that there is always a sector that is doing well and always one that is doing bad for a variety of reasons. For example, the past 11 years have been phenomenal for those in real estate even though the broader economy sucked. Interest rates were falling and this created a boom in mortgage lending and real estate.

However, now that interest rates are rising, mortgage companies are laying off people left and right.

Lower skilled jobs are not going to see huge increases because there is an oversupply of those workers. To make matters worse, those workers are getting squeezed on both sides. You have a ton of illegals vying for those jobs AND you have educated workers doing so as well (think humanities majors). This suppresses wages. Simple supply and demand.

The easiest way to boost wages is to limit supply and companies will be forced to increase wages to attract workers.

originally posted by: JIMC5499

originally posted by: CriticalStinker
But we will see if there is any "trickle down", or if corporations/stock holders just pocket it.

That's kind of a dumb statement.

I and anybody with a 401K is a shareholder and I also own stock.

60% of workers in this country do not have a 401K because they are living paycheck to paycheck.
Of the 40% that do, only a fraction of them have anything meaningful saved. There was a time in this country when the majority of business did not have stocks in the finance sector and the customers not shareholders were number one.

About 1% of the 401k holders own the majority of the wealth in the markets and consumers are gouged every time they buy something since everything has been financialized.

originally posted by: OccamsRazor04

originally posted by: CriticalStinker
a reply to: shawmanfromny

Even if Obama/Trump take credit, it's not really that great of a metric in context.

The numbers are so low because the middle class hasn't seen wage increases that match inflation.

Many people who should be retired are going back to work to make ends meet, and many people have two or more jobs.

The US has seen steady growth, and increase in productivity, yet the middle class is shrinking every year, surpassed by Canada for the first time a year or two ago.

Hard to have wages increase when you keep bringing in illegals to depress wage growth.

Blame the cheap labor express and shareholders first crowd.
The chamber of commerce lobby politicians to keep the gates open for them.