Unemployment Rate and Analysis

[Tenacity]

Well, another report is released and 223k jobs created with the Unemployment Rate remaining at 5.4% with a 62.8% labor force participation rate.

http://www.bls.gov/news.release/pdf/empsit.pdf

The labor force participation rate is the lowest since the 1970s, but if you look at the rate since 1948 on the BLS website, it's always be around 60% and hasn't ever been over 70%, 67.3% during the late 90's seems to be the highest on record.

The jobs being created today don't appear to be the highest of paying jobs, but yet there's still a Skills Gap present in the economy and there's still that funny unemployment gap with Asians at 4.4%, Whites at 4.7%, Hispanics at 6.9%, Blacks at 9.6%, and Teenagers at 17.1% .

Over 25 with no HS graduation, puts you at 8.6% unemployment while everybody else on the education scale is at or lower than the national unemployment rate with HS graduates at 5.4%, Associate Degree holders at 4.7%, and Bachelor's or higher degree holders at 2.7%.

Things that can be done for improvement:

- I would look at how we can bring more jobs back to this country from overseas, which in order to compete we would have to reduce down our labor costs which might NOT happen seeing as though they are pushing for low skilled McDonald fry droppers to make $12 an hour.

- I believe (as I have said before) we are in a CLASS WAR not a RACE WAR, so the Black unemployment rate is double that of Whites and Asians due to the low level of higher education attainment by Blacks in general. Blacks have to eliminate the thug-life/high criminal activity bullshyt, and become what they have always hated.....a Nerd.

- We have to do something with the Skills Gap, there's upwards to 5 million jobs that they are having a hard time getting fulfilled. Imagine if all of those jobs were fulfilled?

- We have to prepare the workforce with the changing economy into a full-fledged Specialized Skill, Robotics and IT based economy. This is going to replace a lot more positions with robotics due to the higher levels of efficiency, leaving those misplaced workers to have to find work doing something else. We need to be pushing people into STEM fields and also pushing them to work GLOBALLY, not just in the US for US companies. As I have stated before, this is the forecast of where we are doing, where a significant portion of the US HAVES will reside outside of the US due to market demands.

- Stop promoting this victimhood mentality shyt. All that does is keep people from trying harder, and in this new economy you are going to have to try HARDER AND HARDER to get established. The good thing though, is once you are established, networked and in the right fields, you should be positioned pretty good going forward. The right fields are:

* Anything Computer or IT based

* Anything Engineering based

* Healthcare (Doctors, Dentists, Nurses)

* Finance (Accounting, Banking, Insurance and Financing)

One or multiple of these should be the FOUNDATION of your career niche, now, you can add in minor specializations such as Leadership, or Operational Management, or one of the Sciences, or Math, or any liberal art. But our economy is going to be based on IT, Engineering and Robotics going forward, even in the Healthcare and Finance sectors the IT and Robotics are going to (and have already started to) replace and develop activities within those sectors.

Also I must stress this, besides about 1% of jobs, 99% of the jobs out there DO NOT CARE about your college degree being from a Top Ranked institution. So if your local college that's regionally accredited with a respectable name in the market costs you only $15,000 to get a 4 year degree (after grants and scholarships) but that other brand name college 60 miles up the road will cost you $65,000 after grants and scholarships, PLEASE choose the lower costing option. The brand name college WILL NOT make a difference unless you are talking about 1% of jobs such as maybe going on Wallstreet or applying for a Top Financial Corporation Position.

 

[backseatjuan]

Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.

Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market, and Tenacity is jerking off all over his keyboard.

None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.

There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.

Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.

There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.

And it’s a lie that has consequences, because the great American dream is to have a good job, and in recent years, America has failed to deliver that dream more than it has at any time in recent memory. A good job is an individual’s primary identity, their very self-worth, their dignity — it establishes the relationship they have with their friends, community and country. When we fail to deliver a good job that fits a citizen’s talents, training and experience, we are failing the great American dream.

Gallup defines a good job as 30+ hours per week for an organization that provides a regular paycheck. Right now, the U.S. is delivering at a staggeringly low rate of 44%, which is the number of full-time jobs as a percent of the adult population, 18 years and older. We need that to be 50% and a bare minimum of 10 million new, good jobs to replenish America’s middle class.

I hear all the time that “unemployment is greatly reduced, but the people aren’t feeling it.” When the media, talking heads, the White House and Wall Street start reporting the truth — the percent of Americans in good jobs; jobs that are full time and real — then we will quit wondering why Americans aren’t “feeling” something that doesn’t remotely reflect the reality in their lives. And we will also quit wondering what hollowed out the middle class.

by Jim Clifton, Chairman and CEO at Gallup.



Another interesting read Nearly At ‘Full Employment’? 10 Reasons Why The Unemployment Numbers Are A Massive Lie

 

[Tenacity]

backseatjuan,

I agree with you that the method used to calculate the Unemployment numbers isn't comprehensive at all. In reality, it's truly impossible to accurately measure employment if you want to be honest. The current system is all we have and you have to go based on "something".

I didn't touch on Stocks (which I don't invest in by the way, I prefer Bonds only), but the Stock Market of course is very overvalued due to the reduction of interest rates across the board for such a long period of time, driving passive investment funds into the Stock Market. Once the rates increase, this will cause Stocks to be valued back down to their respective "true" market valuation as money is driven out stocks and back into cash and bonds.

 

[Bible_Belt]

Daimler just got a license in Nevada for its first self-driving big rig truck. Of the 100 million jobs left in the US, 10% are either driving a truck or operating equipment like a forklift. All of those jobs are going to be gone in ten years. Self-driving cars are also going to eliminate private ownership of vehicles through ride-sharing. There goes 2 million more auto worker jobs.

And those fast-food workers are all about to become robots and self-service vending machines. That's up to 20 million American jobs lost, if you count all restaurant workers.

Technology is what is ultimately going to destroy society - by eliminating almost all the jobs, it will create a larger and larger underclass. The rich will live in fortresses to protect them from the roaming jobless masses. But that's only going to buy a little time. Eventually, when a large enough portion of a society is forced into an impoverished existence while their billionaire overlords live in luxury, they are bound to eventually storm the Bastille and chop off their heads. But then the ignorant masses will have no idea how to keep society running, and everything will fall apart even worse than it was.

 

[taiyuu_otoko]

The rich will live in fortresses to protect them from the roaming jobless masses. But that's only going to buy a little time. Eventually, when a large enough portion of a society is forced into an impoverished existence while their billionaire overlords live in luxury, they are bound to eventually storm the Bastille and chop off their heads. But then the ignorant masses will have no idea how to keep society running, and everything will fall apart even worse than it was.

I don't know if you mean that as hyperbole or not, but there IS a not insignificant amount of economists (not employed at fed.gov) that believe a Roman Empire type collapse, and a subsequent LENGTHY dark age is by no means out of the question. If that does happen, it will largely go down as you described.

My feeling is that if it DOESN'T happen, it won't be because magical last minute cure that came of nowhere, it will because the elites KNOW this is coming and are preparing much more than we know.

Preparing so some kind of post industrial capital structure exists (as well as the workers to support it) to keep them safe and enjoying a post industrial, post technological lifestyle.

If that were to happen, a significant reduction of world population would be required.

If 50%+ of the world population just kind of "went away" a "managed collapse" would be easier to "manage."

 

[Bible_Belt]

If 50%+ of the world population just kind of "went away" a "managed collapse" would be easier to "manage."

I was thinking the same thing, only 90% is the number I had in mind. It makes me think of Stephen King's book The Stand, where 99% of humans die off from a superflu. The best way to save society might be to kill off most of the people. I doubt you and I are the first ones to have these thoughts. Maybe that is what the government is up to in the germ warfare labs these days.

 

[Stagger Lee]

The elites seem to want overpopulation and continuous population growth, at least they do in America and western countries. What do they keep saying? America and the west has too low of birthrate and needs lots of 3rd world immigration to "prosper" us. So even though westerners act responsible and don't increase population growth, elites just bring in immigrants who will.

The way I see it, the rest of the world can overpopulate and nature can take its course, but there's no reason to intentionally continue to overpopulate the US through legal and illegal immigration.

 

[Bible_Belt]

If there did happen to be some catastrophic event in the future that would wipe out most humans, it would explain why issues like immigration are a moot point, as well as why we still have our head in the sand about climate change. China and India are on pace to pump out enough greenhouse gasses in the next 20 years to kill us all. That is unless some catastrophe saves us all from ourselves.

 

[backseatjuan]

If there did happen to be some catastrophic event in the future that would wipe out most humans, it would explain why issues like immigration are a moot point, as well as why we still have our head in the sand about climate change. China and India are on pace to pump out enough greenhouse gasses in the next 20 years to kill us all. That is unless some catastrophe saves us all from ourselves.

Dude man, United States is #1 producer of green houses gasses at the moment, if you take China, India, Russia, the entire Europe, and throw in Africa and Australia in there, United States still leads. Even if you turn off your entire production now, including all the coal plants, you will still lead. You have too many cars. Everywhere else 1.6 litre engine is popular, in your country anything less than 3.6L V6 is uncool. Take Russia, we have the most electrified railway, mind you we have more than twise your terrirtory, you still use diesel electric engines.

Those countries you mentioned are still developing, and you nobody to tell them to stop developing. You are nobody to tell anyone anything about green houses gasses in fact, you fart the most. Before you could start pointing to people you'll have to stop farting yourself. :kick:

Fat guy can not tell anyone to stop getting fat and loose weight. In terms of greenhouse gases you are that obese dude that firefighters had to cut the wall out to get out.

 

[backseatjuan]

Dubai is an example of 'immigration problems'. Only 20% are local population, the other 80% are immigrants. Those Sheik bolas have no problem with immigrants.

 

[Stagger Lee]

Even your commie RT news debunks your commie claims
http://rt.com/business/189532-china-tops-world-c02-emissions/

The world’s second largest economy and most populous country is now producing a greater share of CO2 emissions than both the EU and US, which pioneered the industrial revolution and the so-called second industrial revolution, a report by the Global Carbon Project found.

Emissions in 2013 were dominated by China (28 percent), the USA (14 percent), the EU (10 percent), and India (7 percent), meaning that the top four polluters account for 58 percent of total emissions.

Trends show that India could soon also out-pollute the EU.

 

[backseatjuan]

Even your commie RT news debunks your commie claims
http://rt.com/business/189532-china-tops-world-c02-emissions/

I have no idea what you talking about Ku Klux Klan Lee, your country is number 1 at something don't you love that!

 

[Stagger Lee]

I have no idea what you talking about Ku Klux Klan Lee, your country is number 1 at something don't you love that!

..
Yep I'm a klansman, just like America is number 1 in greenhouse gas and you're not an anti-America commie troll . Liberals and Bolsheviks are the same thing.