Fake Employment Statistics: More Phantom Jobs Created in America
Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 jobs or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true.
My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com,
is that on average about half of the new jobs each month are phantom
jobs created by the birth-death model and inappropriate seasonal
adjustments.
So, I figured that the 217,000 jobs claimed for May are
more like 108,000. Then I read John Williams’ report on the May jobs
number: “Monthly payroll gains overstated by 200,000 plus jobs”
In other words, there were zero new jobs in May.
Just
as the US government can turn an inconsequential Iraq, Afghanistan,
Libya, and Syria into dangerous threats against “the world’s only
superpower,” the US government can turn zero jobs growth into 217,000
jobs. It is easy when you have a prostitute media and a gullible
public, both of which Washington most certainly has.
But let’s take the government data at face value.
First, consider the news
report that finally as of May 2014 as many Americans had jobs as had
jobs in January 2008. That might seem like good news until you take into
account that since January 2008 the US has experienced 6.5 years of
population growth. Economists seem to have settled on population growth
adding 129,000 people to the work force each month. That comes to
10,000,000 people. Where are their jobs? The “jobs recovery” doesn’t
provide for the 10 millions who have come of working age since January
2008.
We can conclude from this that the official 6.3 percent unemployment rate is nonsense.
The unemployment rate is in the neighborhood of 23 percent as John Williams has established.
Just
as the US government claims, falsely, that Russia invaded Ukraine and
annexed Crimea, that Saddam Hussein had weapons of mass destruction,
that Assad used chemical weapons on Syrians, and so forth and so on, the
6.3 percent unemployment rate is just another government lie.
Second,
consider where the claimed 217,000 May jobs are. Hardly any of these
claimed jobs are jobs in which university graduates begin their
careers. The jobs are in wholesale trade, retail clerks, transportation
and warehousing, employment services and temporary help, waitresses and
bartenders, and health care and social assistance. In the later
category, ambulatory health care services and social assistance account
for the majority of jobs.
If
college graduates have jobs, they are not the jobs for which they
studied. On March 31, CNN Money reported that 260,000 college graduates
were employed at or below the federal minimum wage of $7.25 per hour.
For
the many years that I have been reporting on the jobs statistics, there
has been scant sign of any jobs for college graduates. Considering
that there are at least 3,100 colleges and universities in the US, the
May graduating class must number in the hundreds of thousands. Looking
at the May jobs statistics, those graduating from law school face a
dismal situation as employment of lawyers dropped by 700. There were
jobs for only 4,100 accountants and bookkeepers. There were 4,500 jobs
for architects and engineers, a number that includes secretaries and
office managers. There were 1,800 management jobs. State government
education jobs declined by 5,300 and local government education jobs
declined by 6,600 jobs. So where did the education majors find
employment?
How
is the second quarter going to come roaring back, as the financial
media assures us it will, when the jobs report is so discouraging? How
much longer will Washington be able to hide the fact that the US economy
is sinking?
If
you read all the bullshit that the American media and educational
establishment puts out, “education is the answer.” Apparently not.
Education is the way to become deeply in debt and work for $7.25 per
hour, if you are lucky to escape unemployment.
America
is a Great Big Lie. There is no truth in what we are told. The entire
country, along with that part of the world under Washington’s thumb, is
run for about six private interest groups. The rest of us are being
fleeced.
