This article was written by Michael Snyder and originally published at his Economic Collapse Blog.
Editor’s Comment: The creepiest part is that this is all really happening – and has been ongoing. It has been going on right under our noses, and hardly anyone has pointed out how badly everyone is being hit by all this. The widespread effect that is going on here has been all but ignored. The jobless and aimless line up for the dole, and the cheerleading sessions for the status quo go on and on…
Is anyone paying attention here? Society is dangerously unemployed, and not in control of his own future. Those dependent upon government cannot survive independently at all, and are being dangerously accustomed to the conditions that come with handouts. Where does a future of this kind really lead? And what the hell is coming?
Worst Jobs Report In Nearly 6 Years – 102 Million Working Age Americans Do Not Have Jobs
by Michael Snyder
This is exactly what we have been expecting to happen. On Friday, the Bureau of Labor Statistics announced that the U.S. economy only added 38,000 jobs in May. This was way below the 158,000 jobs that analysts were projecting, and it is also way below what is needed just to keep up with population growth. In addition, the number of jobs created in April was revised down by 37,000 and the number of jobs created in March was revised down by 22,000. This was the worst jobs report in almost six years, and the consensus on Wall Street is that it was an unmitigated disaster.
The funny thing is that the Obama administration says that the unemployment rate actually went down last month. Almost every month since Obama has been in the White House, large numbers of Americans that have been unemployed for a very long time are shifted from the “unemployment” category to the “not in the labor force” category. This has resulted in a steadily falling “unemployment rate” even though the percentage of the population that is actually working has not changed very much at all since the depths of the last recession.
The Bureau of Labor Statistics claims that the number of Americans “not in the labor force” increased by 664,000 from April to May. If you believe that, I have a giant bridge on the west coast that I would like to sell you. The labor force participation rate is now down to 62.6, and it is hovering just above a 38 year low.
When you add the number of working age Americans that are “officially unemployed” (7.4 million) to the number of working age Americans that are considered to be “not in the labor force” (an all-time record high of 94.7 million), you get a grand total of 102.1 million working age Americans that do not have a job right now.
This is not a game.
So far in 2016, three members of my own extended family have lost their jobs.
According to Challenger, Gray & Christmas, layoffs at major firms are running 24 percent higher up to this point in 2016 than they were during the same time period in 2015.
It was only a matter of time before those layoffs started showing up in the official employment numbers, and I fully expect that this trend will accelerate in the months ahead.
And here are some other brand new numbers for you to consider…
-Since Barack Obama entered the White House, 14,179,000 Americans have “left the labor force” according to the Bureau of Labor Statistics.
-The quality of our jobs continues to deteriorate. In May, 59,000 full-time jobs were lost, but 118,000 part-time jobs were gained.
-Since September 2014, 207,000 mining jobs have been lost.
-We just learned that U.S. factory orders have declined once again. This marks the 18th month in a row that this has taken place, and we have never seen such an extended decline outside of a major recession.
-JPMorgan’s “recession indicators” have just soared to the highest level that we have seen since the last recession.
Needless to say, the financial community is pretty horrified by all of this news. They were expecting a much better jobs report, and many of them are not hiding their disappointment. Here is one example from the Wall Street Journal…
“This was an unqualified dud of a jobs report,” said Curt Long, chief economist at the National Association of Federal Credit Unions, noting “the unemployment rate fell, but for the wrong reason as labor force participation declined for the second consecutive month.”
And here is another example that comes from David Donabedian, the chief investment officer at Atlantic Trust Wealth Management…
“We can’t find a positive nugget in today’s job report. If we were looking for signs of strength in this report, there is nothing to hang onto here.”
But of course the mainstream media is doing their best to put a positive spin on these numbers. For instance, CNN just published a laughable article entitled “America’s economy is stronger than weak jobs report“.
And the White House insists that this new employment report really isn’t that big of a deal…
The White House doesn’t get “too disappointed” over the number of unemployed and underemployed Americans.
“I’ve been reacting to jobs numbers here at the White House for more than seven years, and what is true today has been true in the past, which is, we don’t get too excited when jobs numbers are better than expected and we don’t get too disappointed when jobs numbers one-month are lower than expected,” White House Press Secretary Josh Earnest told CNBC.
But of course the truth is that it is a really big deal. We just received major confirmation that the U.S. economy has slipped into recession mode.
For months, I have been writing about how virtually every other indicator has been screaming that a new economic crisis had already begun.
But the employment numbers had remained fairly decent up until now. Employment is typically considered to be a “lagging indicator”, which means that it isn’t one of the first places we would expect to see signs of a recession show up. However, it is inevitable that the official unemployment numbers will reflect an economic downturn eventually, and that is what we are starting to see now.
What this means is that you probably have even less time to get prepared for what is ahead than you may have originally thought.
The U.S. economy has already entered the early chapters of the next great economic crisis, and most of the population is going to be caught totally off guard and will suffer tremendously.
If our leaders had made better decisions since the last crisis, things could have turned out differently. But instead, they continued to conduct business as usual, and now we will reap what they have sown.
Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.
Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream.
If you want to know what is coming and what you can do to prepare, read his latest book [amazon text=Get Prepared Now!: Why A Great Crisis Is Coming & How You Can Survive It&asin=150522599X].
The question is why? Are they absent from the work place because they are unemployed? According to the government when you exhaust your benefits, they classify you as employed. Creative Accounting at its worst.
No they don’t classify you as employed, they just say that Un – employment has gone down in the attempt to make it appear that the rate has increased for jobs. However, falsely playing with numbers has been the game being played on the dumbed down American population for a very long time. All one has to do is count and add up all the empty buildings and store fronts and closed mega stores in their cities and communities to know, jobs are scarce.
Obama say we are doing GREAT–When we all know he is lying
And it is going to get worse
On the other hand, the good news is that Obama and Mooshell, will be “unemployed” come January, they’ll be outta the Big House, and just maybe Hillary will be on her way to prison.
the Obamas would never have to work again if they didn’t want to. He gets a big lifetime pension and many other perks.
Hillary is going to win because we are collectively stupid.
Watch and see.
Obama lies to the people and he doesn’t give a fuck anymore. Yellen is an Ashkinaze jew with the sole mission to fuck the sheeple over. It’s always been the plan to crash the system because they know they can’t sustain it. The Federal Reserve had a dollar crash blueprint made up in 1913 when they were created. It only took 100 years to kill over 100 million people and run up $1.4 Quadrillion in debt and derivatives.
The system will crash and will crash big time. They’re just making the final loot before they kill everyone.
So like with the Big O admin said last week, the unemployment numbers don’t concern them.
One thing for sure, they don’t give a sh*t about you or me.
They are paid and bought for.
I pray to God though, that they pay back with their souls in hell.
That this was coming was obvious for a LONG time before it really hit! I saw it many years ago – businesses closed, sky-high taxes that destroyed businesses, new regs that destroyed businesses, new buildings built and then closed (!)… Not long ago “they” (the ubiquitous Enemy) got careless showing their hands, and people were flabbergasted! Obama is an illegal alien and the so-called “elites” showed their hands and shoved him in anyway! This is End Game alright, else they’d never have dared. The U.S. has been deliberately trashed, and that will spread. This last destruction is the “elites” destroying everything in their wake for their own safety, and to Hell with us – literally, I’m afraid. But GET THIS, PLEASE: it’s ALL DELIBERATE!
That this was coming was obvious for a LONG time before it really hit! I saw it many years ago – businesses closed, sky-high taxes that destroyed businesses, new regs that destroyed businesses, new buildings built and then closed (!)… Not long ago “they” (the ubiquitous Enemy) got careless showing their hands, and people were flabbergasted! Obama is an illegal alien and the so-called “elites” showed their hands and shoved him in anyway! This is End Game alright, else they’d never have dared. The U.S. has been deliberately trashed, and that will spread. This last destruction is the “elites” destroying everything in their wake for their own safety, and to Hell with us – literally, I’m afraid. But GET THIS, PLEASE: it’s ALL DELIBERATE!
Much much worse
“A liberal’s paradise would be a place where everybody has guaranteed employment, free comprehensive healthcare, free education, free food, free housing, free clothing, free utilities, and only law enforcement has guns. And believe it or not, such a place does indeed already exist: It’s called Prison.”
But of course the truth is that it is a really big deal. We just received major confirmation that the U.S. economy has slipped into depression mode.
there fixed it
& it is going to get a whole lot worse. Why else do you think they want to take the guns away from us?
Because when the SHTF for real we will end up hunting them & they dont have that many places to hide & they know it.
Obama does`nt give a rats ass now ,he`s on his way out of the whitehous,. It`s an election year ,and some people are afraid to spend money,making it hard for employers to keep all their help. Our economy is at risk ,because people are afraid of what will happen ,if Trump ,or Clinton become President,.Bernie is the best qualified to run our country ,in my opinion,. And yes it will get worse ,and continue to get worse ,until this election year is over.
this # of working age Americans not in the work force looks quite high
BUT
how many of these are in college?
how many are disabled?
how many took early retirement?
when I think about the circle of people I know
I actually don’t know a single person who is unemployed
ie. actually looking for a job because they need too
I do have one sister who retired early because she could
I have another who doesn’t work because her husband has a high paying job
and I have several other family members who retired early by choice
I continue to work because I have a great job and like to keep busy,but I could take early retirement if I wanted too
“I actually don’t know a single person who is unemployed
ie. actually looking for a job because they need too”
that’s the problem, they don’t need to look for a job because those of us who do work are supporting our families and those who aren’t looking for a job because they’re sucking the public tit. Cut off the SNAP funds and let them go hungry, that’ll get their attention.
let me clarify my remarks
I don’t know anyone who is actually unemployed
I have no friends or family on “welfare”,food stamps or any other form of public assistance
and in my state
the average monthly amount of food stamps is a
whopping $130 a month
yer hardly gone live large on that
Satori
Lucky you. My field was decimated. It is still shaky. I switched careers and some people I know went back to school for yet another worthless degree, racking up yet more debt. Some became self-employed and struggle to keep their homes. Most buy and sell a little on the side. Many have drained their savings without obtaining security. Yet another friend called me, she thinks her job will be over in September. We are planting a big vegetable garden for her. At least she gardens. I am for moral support mostly because I am retired.
Again, lucky you with a peachy life and no contusions from these unemployment figures. I hope you continue to have it good. No snark.
I don’t think I would be considered employed by their standards, but I am. I have my own very tiny part time business, and I work when I can, not when some company says I have to be there. Yes, I keep odd hours, and the pay isn’t good, but the benefits are outta this world. 😉
your a dumbocrap arent you
You need to look into the more poor areas of your community. I live in Gilbert AZ, a fairly affluent area. If I drive a short distance to Mesa….wow things are very bad.
That’s great for you and the people in your sphere of influence, but that does not mean it holds true for the rest of the country. Sorry, but the possibilities you listed cannot account for roughly half of the working age population not being employed.
That’s really nice that you live in some wonderful place that has no actual unemployment.
There are a lot of people here in my area who are unemployed. They are still looking for work, but are not counted as unemployed because they no longer get an unemployment check.
I continue to work because I have a great job and like to keep busy,but I could take early retirement if I wanted too
Sure?
Hope so but that’s scary. What happens when the Obama fine actually goes to parity with the cost of buying the steaming pile of shit, and inflation pulls a 1970’s?
But, of course, there IS a solution for this: All those 100 mm unemployed? Simple resolution: Turn them all into travel agents for Michelle Marie Antoinette Obama. You could hire MILLIONS to support that! And the remaining? Have them work as slaves and serfs in the uberluxe mansions of the Hollywierd Learjet leftists.
Next problem!
Im starting to see a bunch of foreclosures again in my area.
Dont know if its just regional or not , but there are alot of newly empty homes.
I often wonder if a person who has 2 or 3 or more part time jobs is considered one person employed for each part-time job. If that is the case unemployment rates are even worse.
BUT BUT BUT BUTT!!!
Unemployment is only 5% just ask the bullshitter and chief. Obullshit himself.
There is nothing to fear the Guberment will take care od you. Sure Right!!!!!!
Sgt.
5% is actually not the unemployment number. It’s the number the MSM and the feds give us. 5% is the number of people still eligible for unemployment. When your bennies run out they don’t count you anymore. If you got out of school and can’t get a job, you’re not counted because you never had a job. Many people will stay with friends or relatives. Some put in for and receive SSI. Some go to jail. Some become homeless. Some tend bar for cash. I know a guy that got an EBT card. He had 2 daughters. He got $500 a month on the card.
“O”
I do know this. Without cursing, and going on a rant. I just made IT SIMPLE.
Sgt.
We’re good. I was making sure the readers understood the 5% thing.
Observer:
I don’t know about where you live but in CAlifornia the food stamp allowance is no where near that amount. A person with two children might get $500 cash for rent and utilities. When you see people apparently doing well, they may have had their car, clothes, and home and paid them off before losing their source of income from divorce or getting laid off or both. The welfare queens are women who claim only their own income when in reality they have a boyfriend who pays their bills but the welfare agency does not know about. That is the reason many never marry their babies daddy. You see this mostly in black families where welfare has been a part of their experience for generations. I have seen a work scam where one black woman claims to have three jobs. Then three other women get welfare and work the three jobs. Nobody is the wiser because “all black people look alike”. Well, at least that’s what they say. To be fair, white people scam the system too. Part of the reason for cheating is that it is very difficult to get back on welfare if you go to work say for a week only to get laid off. They make people start the process all over again, filling out 25pages of forms and providing documentation. It is rediculous.
So where the fuck pray tell in CALIFORNIA do you get yourself a $500 rent???
The only ones on welfare are guaranteed cheating the system. Someone “honestly” on it would be in a cardboard box.
Northern Illinois. And his wife was still working.
Where’s that economic collapse before the end of 2015? Snyder= no credibility.
Highndry
This is an economic collapse, what do you need, a ticker tape parade?
Over 100 M unemployed, 50 million using EBT cards, millions in Section 8 housing, millions presently getting free medical care, millions who are addicted, etc. When the SHTF it appears all hell is going to break loose in the cities, you better be one step ahead of the needy hordes when it comes. If/when society becomes out of control they will be hungry and incredibly violent; they will use the lapse in law and order to steal, loot, rape, kill, and destroy. Just look at N.O., things got bad real fast. I have a townhouse and live in a metropolitan area with lots of these people. When the time comes I will load up all my prepper stuff, the things me and my family needs, all my valuables, and other important things in my vehicles and stand by to leave. Even though my wife has made a beautiful home I will smash everything remaining inside to render it uninhabitable or leave anything of value or use because I won’t plan on coming back. Fortunately we have several relatives who live in rural areas to help us start over.
As my old friend Ten Bears put it many years ago –
“It’s sad that governments are chiefed by the double tongues”.
Seriously, it’s bad news. Daimler and Freightliner just announced more layoffs. When the truck manufacturers start laying off, that is a pretty good clue less goods are moving.
http://www.dailyjobcuts.com/
Oh yeah…Daimler just got a 20 million dollar tax subsidy in April for their corporate headquarters., now they lay off. How’s that for your corporate welfare leech?
105 mil out of a 315 mil plus/minus populace. Hummmm…. 5% unemployment??
That’s really fuzzy math.
There are plenty of unemployed and even more who are under employed. There are hundreds of thousands if not millions whose lives and minds have been destroyed from heroin and cocain. There are people with Asbergers from tainted vaccines some one out of fifty births, there are people with Cancer one third of us have had it or will get it from GMOs and poison in the food, the water and the air. You don’t know anyone who is unemployed. Lucky you.
Snyder says 102,000,000 americans not working. WELL, NO SHIT, SHERLOCK SNYDER! We’ve only known it since 2011-2012. [SARCASM]
I don’t get them, but a single unemployed adult person in Florida can get 194 dollars in food EBT per month. There may be work search requirements or makework type jobs if younger than 59.
I can’t get over this Oliar press secretary named Josh Earnest which means lying with a big smile. Sure the job report is a one month deal, not to make a big deal of, no pattern at all. Right! Why is the Liar in Chief not talking to the press everyday? He does nothing but lie, at least make him do it more often to earn his obscene pay. What a complete fraud. How many people serve these phony first liars?
Perfect new job for Josh Earnest once his days as Press Puppet are over: stunt double for a ballistics gel head and torso.
Our betters say that there’s nothing wrong but all the while the rain that keeps hitting the back of my neck stays very warm and smells bad. What am I missing……
So what do you expect when you let a half-breed Negro Muslim sodomite named Bath House Barry Soerento to lead your nation?
Duh!
Yeah, to listen to MichaelChelle at the graduation ceremoney, it IS a race thing. (WHO KNEW?)
And whereas I was inclusive in latter years, now not so much. In fact, NEVER AGAIN.
So think about it like this….. we all know trump is getting into office and the minute that he is sworn in the economy tanks. Maybe it’s the plan all along. Blame the big guy with the mouth for everything….. but seriously this could be what is to come. Then once this happens the country goes crazy. Mass rioting, food shortages like what we are seeing in venis.
The government is no longer trusted by most people. They know it is lying hoping things will improve. It isn’t and will get worse. Venezuala may look good to us in the near future.
Let us attempt to look at this from a brighter perspective. At first the perspective looks dark, but what choice do we have: In the end there will be a brighter future as long as we can forget the carnage of the past, and carnage there will be. Instead of looking at the facts and figures as an impending economic disaster we must look at it for what it really is: A long overdue Natural Selection Event. For the few of us that understand just how horrifying the future is going to be, we know that the prepping part was the easy Act One on the stage of survival. Protecting ourselves and what we have gathered together to survive will be the infinitely worse Act Two. Case in point: Today I read another article about how to prepare for the family members who refuse to prepare. Those types of articles are for fantasy preppers that have no grasp of reality at all, and may be incapable of understanding just how very very dangerous a nonprepping family member is to those of us that have prepared with our own survival as priority one. Here is another case in point. Today I sat the wife down and explained what we are going to have to go through. Rather she understood it or not is immaterial to me, she either gets it or she doesn’t. I can’t and won’t be bothered with anyone that lets out a scream when they see a snake, can’t swim a river, or navigate by the stars, just to name a few. There is now a severe time limit on the effort we put into explaining the what ifs to loved ones. I love my family, but I care about myself. As the leader, as long as I am alive and ok then they will also be alive and ok. Keep in mind that my family members are all adults, not children. They can either man/woman up continually or be left behind. What other choice does a survivor have? If you can’t shed the dead weight (nonprepping family members) when the time comes, then you are dead yourself. People, without the mental preparations paralleling your physical preps then you have prepped for nothing. If anyone comments on this response, please save me the pathos about Christian love and kindness. Love and kindness are about to become a thing of the past for a few years. If you don’t believe it then please read Deut. chapter 28, and prepare to defend yourself from these people at all costs. Matthew 10:36 should also pip your interest a little. thanks
I think Isaiah Ch19 and Revelation Ch17 & Ch18 refer to the future of America.
I taste tested a new (to me) wild edible this week. Already found 5 of them on my property. My garden is good. The rainy season is here, through end of September. Building yet more raised hugelkultur beds. Building bee hives and rabbit live traps. I will not be rioting and destroying supermarkets..
Well Bec, are you going to keep us in suspense or is there a sequel? Trekker Out.
Morel Mushrooms? perhaps?
EOTS wish you wouldn’t remind me. Morels and Turkey Hunting are two of the main things I miss after moving from Missourah to Wyomin. Trekker Out
We don’t have the real jobs to go around and the only new jobs being created are for brown-coats working for local government and they then poke there noses into what you can and cannot do yourself.
Pen-Pushing none-job worker cost more than leaving people on the dole and thats before robots take all the jobs as they become cheaper and cheaper.
Where is the logic in working for the sake of it and if all the immigrants did get jobs then it would only push the wages down for people that do work already.
Something needs to give and the plans for the USA is race wars to thin the popultion down and allow the bankers to escape having to payout on 401k’s
Go kiss the bosses arse each morning to feed your greed and ego but get ready for the day where you too are working for peanuts in the rat race thats been created by bankers.
The US is trying to provoke Russia into a war so maybe thats the plan to cull the useless eaters down because Russia will denfend itself against this agression from the west
Hope and spare change.
Fundamentally transforming America into a third world shit hole.
Hey you know what just bill everyone more for health insurance and make the penalty for not buying it jail time instead of a half assed fine. That’ll prop the GDP numbers up.
Because that (or something very much like that) never happens in every other country on Earth when the shit starts falling off.
https://www.youtube.com/watch?v=IQg_te1ZVqM
AMERICA: Planned in hell, born in hell, raised in hell, and spit out of the bowels of hell, America was just too evil, too vile, too controlled and brainwashed by psychopaths, and too disgusting for hell.
funny they say that many out of work , but yet tell us that the Unemployment number is around 4 to 5%
COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good Subject. Terrible Times. It’s 5.6%.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 23%.
COSTELLO: You just said 5.6%.
ABBOTT: 5.6% Unemployed.
COSTELLO: Right 5.6% out of work.
ABBOTT: No, that’s 23%.
COSTELLO: Okay, so it’s 23% unemployed.
ABBOTT: No, that’s 5.6%.
COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%?
ABBOTT: 5.6% are unemployed. 23% are out of work.
COSTELLO: If you are out of work you are unemployed.
ABBOTT: No, Obama said you can’t count the “Out of Work” as the unemployed. You have to look for work to be unemployed.
COSTELLO: BUT THEY ARE OUT OF WORK!!!
ABBOTT: No, you miss his point.
COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work can’t be counted with those who look for work. It wouldn’t be fair.
COSTELLO: To whom?
ABBOTT: The unemployed.
COSTELLO: But ALL of them are out of work.
ABBOTT: No, the unemployed are actively looking for work.
Those who are out of work gave up looking and if you give up, you are no longer in the ranks of the unemployed.
COSTELLO: So if you’re off the unemployment roles that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!
COSTELLO: The unemployment just goes down because you don’t look for work?
ABBOTT: Absolutely it goes down. That’s how it gets to 5.6%. Otherwise it would be 23%.
COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.
COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to have people stop looking for work.
ABBOTT: Now you’re thinking like a Democrat.
COSTELLO: I don’t even know what the hell I just said!
ABBOTT: Now you’re thinking like Hillary. (from grin N barett FTTWWR)
It’s all going to IMPLODE, just wait and see my friends. I hope it does happen, we need to have such a major change, a revolution is really the only way…to right this ship, to right this major “wrong” that this country has become.
Sieg Heil! Combine this with the crazy woman who destroyed the convenience store because her Obama dollars / welfare handout didn’t work, and watch the cities burn like Baltimore. Of course Obama will be itching to declare a state of emergency in a power grab, suspend the November election, and set off a civil war/revolution in America. Too bad most of his soldiers (illegals, muslims, inner-city dwellers) will die off once the supply chain is broken, and the welfare system breaks. No more Obama dollars? Time to riot! Let the cities burn out the rodents and scum. Rational adults will return in time to rebuild from the ashes of the New Deal and liberal utopia.
Are they not working, or did they just STOP paying
the governments extortion fees? I.E TAXES?