As is the usual case, "unemployment" went down. By no co-incidence, workforce participation went UP.
And there are other problems.
the September data confimed that the whopping surge in jobs... was thanks to your "grandparents" those in the 55-69 age group, which comprised the vast majority of the job additions in the month, at a whopping 230K.
...What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs....
Zerohedge also mentions that 'average earnings' slid.
Lesson? Unless you're on the Gummint tit in DC, things are not good at all.
Once again, complete bullshit numbers from government a month before major elections. Of all the lies OBarry drools, the worst one is lying to himself that anybody actually believes anything he or his corruptocrat administration spews forth.
ReplyDeleteBarry, fairy, always quite contrary,
Man, does your admin blow.
With liars and douchebags,
And Holders and Lerners,
And scum-sucking criminals all in rows and rows and rows and rows and rows and rows and rows...
Meanwhile, 6 years ago, over 3.4 million people between 25 and 54 were employed than were employed last month.
ReplyDeleteNot to mention that full-time employment as a % of the 25-54 workforce is at its lowest point since 1981.
ReplyDeleteAnd median hh pre-tax income is $5K less than 2001, or about the level of 1996.
And, finally, median financial holdings of families has dropped by $14K since 2001--or about 33%.