Wage Apocalypse For The American Man



Thank NAFTA and other off-shoring.  TPP will further impoverish American workers.

Payroll Jobs Report

The 142,000 September payroll jobs reported today (2 Oct 2015) by the Bureau of Labor Statistics is too small to be consistent with the still high stock averages or the alleged economic recovery. Moreover, the BLS says that it over-estimated the July and August payroll jobs by 59,000. The average workweek declined to 34.5 hours. The labor force participation rate fell further and is now the lowest in about 40 years. This is especially damning when we remember that in those long ago years many more households could exist as one-earner households.

The 5.1 percent reported unemployment rate is inconsistent with the collapse of the labor force participation rate and stands at 5.1 percent only because it includes not a single one of the millions of discouraged workers. The way BLS gets a low and comforting rate of unemployment is not to include most of the unemployed



Unemployed Man - Public DomainThe federal government uses very carefully manipulated numbers to cover up the crushing economic depression that is going on in this nation.  For the month of September, the federal government told us that 142,000 jobs were added to the economy.  If that was actually true, that would barely be enough to keep up with population growth.  Sadly, the truth is that the real numbers were actually far worse than that.  The unadjusted numbers show that the U.S. economy actually lost 248,000 jobs in September and the government added more than a million Americans to the “not in the labor force” category.  When I first saw that number I truly believed that it was inaccurate.  But you can find the raw figures right here.  According to the Obama administration, there are currently 7.9 million Americans that are “officially unemployed” and another 94.7 million working age Americans that are “not in the labor force”.  That gives us a grand total of 102.6 million working age Americans that do not have a job right now.

That is not an economic recovery – that is an economic depression of an almost unbelievable magnitude…


And yet the brain dead keep touting the reported 5.1% unemployment rate as an accomplishment of the Obama regime.

Over 94 Million Americans Not In The Labor Force For The Second Month In A Row

The number of Americans not in the labor force exceeded 94 million for the second time in a row last month hitting a new record high, according to new government data released Friday morning…


Peter Schiff And Jim Rickards On The Economy


38% of American Workforce Still Jobless

38% of the workforce is out of work, but the deluded point to a rigged 5.1% unemployment rate as a sign of recovery.  Related:

great-depression---jobs(Desperate Americans stand in soup kitchen lines and look for work. Circa 1929)

While the Obama administration and their mainstream surrogates maintain that the economy is growing at a booming pace, the reality of the situation is starkly different.

According to a report from the Bureau of Labor Statistics some 94.6 million Americans (age 16 and over) are either not working or have made no effort to find a job. With a population of 320 million, that means nearly one in three people in the United States are currently out of work.

The Bureau of Labor Statistics reports that a record 94,610,000 people (ages 16 and over) were not in the labor force in September. In other words they were neither employed nor had made specific efforts to find work in the prior four weeks.

The number of individuals out of the work force last month — due to discouragement, retirement or otherwise — represented a substantial 579,000 person increase over the most recent record, hit in August, of 94,031,000 people out of the workforce.

Curiously, the official unemployment rate remained unchanged at 5.1%, suggesting that some 95% of people actually have jobs.

But as we’ve repeatedly pointed out, that number has been completely skewed over the last two decades as it fails to account for people who have stopped looking for work (because there are no actual jobs available).

According to John Williams of Shadow Stats, if we were to calculate unemployment using the same metrics as we did during the 1930’s, or even the 1980’s, we’d already be in Great Depression territory. Williams, who utilizes a reporting methodology that accounts for “long-term discouraged workers who were defined out of official existence in 1994,” notes that the real unemployment rate is rapidly approaching 25%.


Now compare the above chart to similar measurements from the 1930’s and you’ll see just how bad things really are:

greatdepression-unemployment(via Casey Research)

It’s so bad, in fact, that we have seen sustained unemployment exceeding that of the Great Depression for almost the entirety of Barack Obama’s Presidency.

But how can it be possible to have a full-fledged recovery and record stock prices when nearly one-third of the adult population is not working?

If the government is to be believed, it’s because our economy continues to grow at a pace of about 2%.

But once again, if we calculate the real growth rate and adjust for inflation, we see exactly why jobs are non-existent and getting worse every month.

The following chart made available by Williams shows that despite a positive “official” GDP growth rate being disseminated to the public, the reality is exactly the opposite. The U.S. economy is by all accounts shrinking and has been doing so for the better part of a decade:


We’ve already witnessed numerous shocks to the global economy over recent weeks and the prospects of any sort of stability just went out the window.

There is no recovery. There are no jobs. There is no growth…


As an aside, I took a train ride from Washington, D.C. to my hometown of Trenton, NJ yesterday to attend the funeral of a friend.  From Baltimore north it was a depressing view out of the window.  Shuttered, abandoned and collapsing factories, wrecked train engines and cars on sidings, slums in abundance, homeless people and the smell of urine in all of the train stations were pervasive.  This situation cannot last, despite the propaganda from the Ministry of Truth and the fawning, perhaps wishful, acceptance of same by the deluded.  Even before I left Washington, the sight of the homeless outside and inside Union Station was depressing.