Friday, September 07, 2012

368,000 American Workers Throw In The Towel

The latest unemployment rate number released this morning by the U.S. Department of Labor provides no evidence that the economic recession is turning around. The unemployment rate ticked down from 8.3% to 8.1%, but that was only because the labor force shrank 368,000, representing the number of unemployed workers who gave up on finding a job. The American economy managed to only create 96,000 jobs last month, lower than the 125,000 analysts had anticipated. The labor force participation rate among working age adults is now the lowest it has been since 1981, falling to 63.5%.


Marycatherine Barton said...

"The Message From Both Parties is that Americans Are Disposable" is the title of Paul Craig Roberts report after the conventions.

He asks: "Have any people in human history ever been less represented by their government and political parties than Americans?"

He concludes: "The US government represents Israel and the one to ten percent. Everyone else is disposable. Regardless of the political party whose lever is pulled in Nobember, every American who votes will be voting for Israel and for their own demise."
It is by design that

there are so many unemployed Americans and I hope that all take time to read this latest column by the father of Reagonomics, the former head of policy at the Dept. of Treasury, and author of the book,

Cato said...

A permanent service economy runs at high unemployment.

A staggeringly high percentage of Americans get a paycheck from doing no "real" work, at all.

Gary, when was the last time you, Paul, Ballard, Lugar, Straub, Romney, Brit Hume, Rachel Maddow, Rush, me or anyone within three orbital rings of this board traded real labor for earnings?

How many cars heading into downtown Indy, every morning, have someone inside who is going to do some "real work"? How many people would it take to stop showing up for work in downtown Indy before Corn Flakes were no longer on the shelves of the local Marsh?

The American economy needs very few of us. We office workers are lucky we have any income, at all, for the amount of value we give to the world. Sadly, the administrative class keeps trying to preserve its necessity by creating ever-increasing laws, regulations and enforcers.

If you don't run a lathe, drive a truck or heal the sick, the world really doesn't need you.

Cato said...

MCB, when Israel has bled America dry, they'll move on to some other host country.

It's so sad that America gives so much of its GDP to support and protect a Mediterranean emigre colony for Russians and Germans.

We've built them a new Brighton Beach with better weather.