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Dr. Paul Craig Roberts – Unemployment in America: Another Phony Jobs Report

As John Williams has made clear, the monthly payroll jobs number consists mainly of an add-on factor of 200,000 jobs.  These jobs are a product of the assumption in the Birth-Death Model that new business ventures create more unreported new jobs than the unreported job losses from business failures.   If we sustract out this made-up number, July saw a gain …

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Jerry White – New study: Entire Regions of US Will Remain in Recession until the 2020s

A new study by a University of California-Berkeley economist says that at current sluggish levels of job growth, entire regions of the United States, which were hit hardest by the Great Recession will not return to “normal” employment levels until the 2020s. This amounts, to “more than a ‘lost decade’ of depressed employment” for “half of the country,” wrote economist …

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Dear Janet Yellen, Here Is All You Need To Know About The US Economy: True Unemployment Is Over 12%

One of the great mysteries surrounding the US economy is the seemingly inexplicable discrepancy between the plunging unemployment rate on one hand, which at 5.1% in August was the lowest since April of 2008 – a data point which on the surface would suggest virtually no slack in the labor force –  and the crawling pace of growth of the …

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Paul Craig Roberts – The US Economy Continues Its Collapse

Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday’s employment report was a continuation of a long string of bad …

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Pam and Russ Martens – How U.S. Achieves a 5.3% Unemployment Rate: If You Earn No Money, You Can Still Be Counted as Employed

Last Friday’s nonfarm payrolls report of 215,000 new jobs in July with its attendant announcement of an unemployment rate of 5.3 percent drew mostly yawns from the media. That wasn’t the case on February 3 of this year when Jim Clifton, CEO of the polling company, Gallup, wrote a stunning opinion piece on the company’s web site calling the U.S. …

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Peter Gosselin – Why American Teens Aren’t Working Summer Jobs Anymore

This was supposed to be a better year for teenagers to land summer jobs, and July has always been the peak month for such positions. Things haven’t worked out that way, according to the Labor Department’s latest jobs report. On an unadjusted basis — which is probably fairer given the question is seasonal jobs — there was a 1.2 million increase in teen …

jeb bush

Jeb Bush Proves He Has No Clue About US Economics Op-Ed by Naji Dahi

Jeb Bush, one of the leading Republican candidates for the presidency, is in the news again—and not in a good way. During a meeting with the editorial board of the New Hampshire Union Leader, he reportedlysaid the following: “My aspiration for the country — and I believe we can achieve it — is 4 percent growth as far as the eye …

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US home ownership rate hits lowest level in two decades By Andre Damon

The economic recession that began with the collapse of the housing market in 2007 officially came to an end in June 2009—more than six years ago. But by most indications, American households are significantly worse off than they were at the depth of the downturn. Despite the drop in the official unemployment rate, household incomes have fallen, wages have stagnated …

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The Average Age Of A Minimum Wage Worker In America Is 36 – Michael Snyder

Did you know that 89 percent of all minimum wage workers in the United States are not teens?  At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are women.  Millions upon millions of Americans are working as hard as they can (often that means two or three jobs), …

student loans

Federal Report: The College Debt Bubble Is Collapsing Now: 33% Of All Student Loans Are Delinquent On Repayments

With all of that job creation being claimed by the Obama administration and disseminated by mainstream media outlets as signs of a sustained recovery you’d think most college graduates would have no trouble keeping up with their bills. But new data released by the Department of Education tell a different story. According to the report as many as 33% of American college …