The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label unemployment. Show all posts
Showing posts with label unemployment. Show all posts

Friday, June 10, 2016

For workers, forced minimum wage hikes equals unemployment

Following a number of U.S. municipalities forcing through legislation to raise the minimum wage either towards or to the goal of $15 per hour, early results from these controversial policies are in.  And as expected by most logical analysts, the artificial push in higher wages is leading to massive layoffs and higher unemployment.
In Washington D.C., where the district supports the seat of American government and where the minimum wage was raised from $8.25 per hour to $11.50, on average half of all D.C. employers have laid off workers since the legislation for higher labor costs was implemented.
owejob
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Friday, April 1, 2016

Jobless claims jump to highest rate in two years, bringing new questions on recession

Contrary to the ‘head on the sand’ rhetoric that is coming from the Fed and mainstream business news regarding jobs, employment, and how the economy is really doing, the bottom line numbers have already signaled recession in the manufacturing side of the economy, and all that remains is for the service sector to hop on board.  But as the central bank Chair earlier this week pointed towards uncertainty in the markets that are now having an effect on their ability to raise interest rates as promised in December, new data out today pretty much ensures there won’t be a rate hike for at least several months, if not at all for the rest of the year.
This is because on March 31, new jobless claims numbers came in and they were discovered to be at the highest rate in two years.
With both ISM Manufacturing and Services employment indices collapsing, endless headlines of layoffs, Challenger-Grey noting Q1 as the worst since 2009, and NFIB small business hiring weak, it is no surprise that initial jobless claims is finally waking up. For the 3rd week in a row - the longest streak since July 2015. The last 3 weeks have seen a 9.1% surge in jobless claims - the biggest such rise since April 2014. - Zerohedge
jobless claims
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Thursday, March 31, 2016

Q1 GDP estimates throw Yellen’s plan for future rate hikes in the crapper

On March 29, Fed Chairman Janet Yellen spoke at the Economic Club of New York to give a little more insight to the central bank’s future plans for monetary policy.  And in what was a mish-mash of contradictory points provided by the Fed Chair, where in one instance she praised the economy as being good while shortly after called for caution due to uncertainty in that same economy, it appears that data announced from the Atlanta Fed on Monday has invariably thrown all future rate hike possibilities in the crapper.
the Atlanta Fed will have no choice but to revise its Q1 “nowcast” to 1.0% or even lower,which would make the first quarter the lowest quarter since the “polar vortex” impacted Q1 of 2015, and the third worst GDP quarter since Q4 2012. It means one-third of already low Q1 GDP growth has just been wiped away.”
It was “even lower.”
Moments ago the Atlanta Fed which models concurrent GDP, slashed its Q1 GDP from 1.4% (and 1.9% last week) to a number not even we expected: a paltry 0.6%, which would match the “polar vortexed” GDP print from Q1 2015.
Should the number drop even more, will be the lowest since Q1 of 2014 when the US economy suffered its most recent contraction of nearly -1%. - Zerohedge
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Monday, October 5, 2015

New jobs report shows U.S. hired more foreign ‘bartenders’

Another month, another deceptive jobs report from the Bureau of Labor Statistics (BLS).  On Oct. 2, the government agency announced that for the month of September, only 142,000 jobs were created which was more than 60,000 below analyst estimates.  But what made this report quite intriguing was the fact that it was the first one reported after the Fed’s FOMC announcement not to raise interest rates, and seemingly justified the central bank’s decision not to increase the cost of cheap money to the economy.
Yet when you look more closely at the report, it solidifies what only a few have been willing to discuss about the so-called great recovery, and that is that the majority of jobs being filled are by foreign workers, and that most of them are minimum to low wage ‘bartender’ jobs in the service industry.''

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Thursday, July 2, 2015

Nearly the trifecta as real jobs and durable goods data show U.S. already in recession

It’s that time of the month once again when we see the government contradicting itself by manipulating economic data to spin the fact that we are in a recession, but unwilling to admit it.  In two data sets published on July 2 by the Bureau of Labor Statistics (BLS) and in the number of factory orders, the trifecta has been nearly reached showing that the U.S. is no longer in a fed stimulated artificial recovery, but now into a full blown recession.
All that is missing of course is the GDP data, which by numbers produced by renowned statistician John Williams, already places us in a declining economy.
Chart courtesy of Shadowstats.com
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Sunday, October 5, 2014

New jobs report: More hiring’s for Grandma and less for Grandkids

As Wall Street swoons around today’s front line BS… err I mean BLS jobs report, the bottom line once again is that more people actually fell off the participation roles than actually found employment in September.  And even more disconcerting was the fact that the majority of these jobs were gained in the 55-69 age group, with 10K jobs actually being lost in the 25-54 range.
So to sum it up.  230,000 Grandmas and Grandpas found new low wage employment and 10,000 of their Kids and Grandkids went on unemployment.
 
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Wednesday, September 10, 2014

It’s a temp job world, and you’re living in it

On Sept. 5 the Bureau of Labor Statistics, or known in the alternative economy as the Bureau of Lies and Slight of Hand, issued its August jobs report for the country.  But unlike the month of July which summarily blew away all forecasted predictions, the August numbers were ‘just a bit outside’ as the economy only created 142000 when mainstream analysts were predicting no less than 200000.

But the real crux of the report was just how many of these new jobs were part time, and relegated to low wage employment.  And to understand just how skewed the jobs paradigm is for the American people since the Credit Crisis of 2008, over 53 million workers are now considered temporary workers, or in 21st century vernacular, Freelancers.



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Tuesday, August 26, 2014

French President Hollande dissolves government after dispute with economic minister

When your approval ratings (17%) are worse even than President Obama’s, even your most trusted ministers will turn upon you to save their own political lives.  This is what has occurred over the past few weeks within the Hollande cabinet, and on Aug. 25, the President of France demanded that the government be dissolved, and Parliament re-ordered after opposing forces against the President’s austerity measures came to a head.



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Thursday, January 23, 2014

Unemployment rate soon to drop below 6% as 1.4 million people lose benefits

The government is never interested in facts, it is only interested in truth… and especially truth that makes their policies and agendas look good.  Which is why America stands on the brink of having 1.4 million jobless workers no longer be recognized in the economy, and the Obama administration potentially claiming a false victory as the unemployment rates could drop below 6% for the first time in several years.


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Wednesday, January 15, 2014

Obama’s 10 million man march to unemployment

It’s official.  Since President Barack Obama took office in 2009, over 10 million Americans have lost their means of gainful employment making Obama the worst job President in history.
The number of working age Americans that do not have a job has increased by nearly 10 million since Barack Obama first entered the White House.
In January 2009, the number of “officially unemployed” workers plus the number of Americans “not in the labor force” was sitting at a grand total of 92.6 million.  Today, that number has risen to 102.2 million.  That means that the number of working age Americans that are not working has grown by close to 10 million since Barack Obama first took office. - Economic Collapse Blog

Graphic courtesy of Secrets of the Fed

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Friday, November 15, 2013

It’s official: Quantitative Easing is a failure

In late 2008, and a little ways past the start of the Great Recession, the Federal Reserve decided to introduce a new form of money printing known as Quantitative Easing.  In this new scheme to increase liquidity and attempt to stimulate the economy, the Fed began buying toxic assets from banks , while at the same time, allowing financial institutions to borrow money at near zero interest.  This combination was expected to ease the consequences of the 2007-2008 credit crisis, and to allow for banks to begin capital investments to both corporations and small businesses.

However, in the four years that this program has been operational, and with the central bank trying four different QE models, the results of their efforts are in, and their effects on the economy have proven to be an utter failure.



Read more of this article here...

Friday, September 6, 2013

Unemployment rate rises to 11.4% as nearly 91 million Americans out of work force

On Sept. 6, the Bureau of Labor Statistics (BLS) issued their latest job report numbers, with August’s totals missing expectations by 11000.  More importantly however, was the more than 500000 Americans who fell off the unemployment rolls, which increased the total number of people out of work to just under 91 million.

And with that increase of American workers no longer being counted as participating in the work force, the separation between manipulated U3 rates and the actual unemployment rate, widened to a difference of over 4%.


Read more on this article here...

Wednesday, December 5, 2012

Economic reality in Italy: Buy groceries, earn lottery ticket to win a job

Recently, two Americans split the largest lottery jackpot in history when the numbers came up golden on a $500 million pot.  However in Italy, where unemployment rates are over 11% of the population and growing more than .3 per month, a new lottery opportunity is being introduced, where grocery shoppers will have the chance to win the illustrious prize of...

a part time job as an assistant grocer.


For the unemployed in Italy, new possibilities, to get a job. A supermarket chain is giving away jobs to their customers. The premise: you have to buy for more than 30 euros, then you get a lottery ticket, which entitled to participate in the Sweepstakes. Winners of the lottery, a temporary job part time job as an assistant waiting in the supermarket.

"Our contest is open to people of all ages and backgrounds," said Alessandra Aloisi, HR Manager of Gruppo BSE, Bloomberg. The chain of one-time supermarkets in Rome sells lottery tickets, which are very well received by customers. "Some participants are even question whether the profits they may possibly pass on to a friend or relative," Aloisi Sun -
Deutsche-Mittelstands-Nachrichten via Zerohedge

So enjoy the lottery frenzy while you can America, as it may not be too longer before the gambling concept turns into job creation for the government, states, and the U.S. economy.

Thursday, November 15, 2012

New job loss report: To those who believed the White House, here's your sign

For the limited few out there who actually believed the September BLS report that showed the unemployment rate falling from 8.1% to 7.8%, all we at the Daily Economist have to say is, Here's your sign.

Primarily, the drop in unemployment just weeks before the election was so obvious, and so blatent, and so large, that every analyst with a modicum of respect knew that after Nov. 6, the revisions of those numbers would either pop the rate back over 8%, or quite discouragingly, move the numbers even higher than what it was.


Picture courtesy of Fox and Friends

The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street "experts" who set expectations were unable to foresee the Sandy effect that every "macrotourist" on Twitter apparently is so very aware of. Also, it is apparently also "Sandy's fault" (now that the Bush excuse is back in retirement) that the prior week's claims were revised from 355K to 361K. Basically, just as we said 3 weeks ago, ignore every negative data point: - Zerohedge


Interestingly, these numbers come just before the onset of Black Friday, and the seasonal increase of temporary jobs leading into, and through Christmas.  What indications then should we expect from here, as to the retail sales for the 2012 holiday by businesses?

Not much.

Friday, October 5, 2012

Unemployment numbers the Chicago way: Obama administration skews last report before the election

Since the results of the first Presidential debate on Oct. 3 were a complete fiasco for Obama, many people in the beltway, and financial sectors, knew that something big would be dropped on the American people to try to save the election.  On Oct. 5, that news was published as the newly manipulated BLS report on job creation led to a drop below 8% unemployment for the first time since 2009, and not surprisingly, during the last reportable month before the election.


Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers - Jack Welch Tweet

But what was the reason for this epic jump in Household survey jobs? Simple, and those who have read our series on America's transition to a part-time worker society know the answer. The reason is that the number of part-time people employed for economic reasons soared by 582,000 to 8,613,000, the most since October 2011, and the largest one month jump since February 2009 - Zerohedge

The Labor force participation rate rises from 30 year lows to 63.5% to 63.6%



So what we see in this months report, which will assuredly be revised by a multiple of 5-10 next month, or during the final annual report, is a last ditch attempt to brainwash Americans before the election that Obama's economic policies are working, and that people are finding jobs (that no on can really make claim to), on paper vs. the real world.

It's not about truth in the world of politics, its about the perception of truth, and as former GE CEO pointed out, its the Chicago way.

Tuesday, October 2, 2012

Americas broken down welfare system where millionaires receive unemployment

One of the biggest complaints about any government run system or agency is the sheer size and ineptitude of their bureaucracies.  From paying rents or leases on unhabited buildings, to propping up failed agencies such as the Department of Education or the Postal Service, government waste costs taxpayers hundreds of billions of dollar per year.

So it probably won't come as much of a surprise that a new report on Oct. 2 from the Congressional Reserch Center shows that in 2009, the Federal government actually paid unemployment benefits to over 2370 households that earned over $1 million dollars.



Just because millionaires are people too, and they too can apparently lose their jobs, we now learn courtesy of the Congressional Research Center, that in 2009, 2,362 Americans making over $1,000,000 in income (and just shy of a million people making over $200,000) collected unemployment benefits. - Zerohedge


Through the last decade, government programs have paid welfare to many different people and agencies that did not need it, and fell outside the intended income levels of the program.  But rather than reform these broken programs that cost the taxpayers $billions, more often than not, Congress enlarges these agencies, and puts good money after bad to keep creating the largest welfare state in the history of the world.

Monday, October 1, 2012

Gold closes in on $1800 on events in Spain and words from Fed President

In early morning trading on Oct. 1, gold and silver both shot up to new 2011 highs on news out of Spain of a potential bailout, and additionally, through the desire for even greater Fed action by Chicago Fed president Charles Evans.



Gold and Silver and surging this morning as the Fed's Charles Evans talks on CNBC of the need for more accomodative policy by the Fed. His 'infiniter' easing seems to have sparked this move as he clarifies the seeming psychopathy of the Federal Reserve's actions. His message clearly is that the amount doesn't matter (nor the unintended consequences), the printing and flooding of money into an already stuffed banking system will continue until morale improves. - Zerohedge

To add more fuel to the fire, Europe came out with new unemployment numbers for the Eurozone, and the jobless have now reached record levels.

The eurozone unemployment figures came in at 11.4% in August. This data was compiled for the 17 nations in the single currency and equals the data of June & July after their figures were revised upwards.

This is the highest since they began recording the eurozone jobless claims in 1995. In a region with such diverse economies Germany remains at 5.5%, while debt beleaguered Spain is at 25.1%.

This clearly shows that the economic crisis in Europe is far from over and certainly cast doubts that the ECB bond purchase plan can resurrect the economy. The ECB is targeting the economy to contract again at -0.40% down from an earlier forecast of -0.10%.

Factory output has shrunk for 14 consecutive months and businesses must continue to trim the fat of their organizations during these recessionary times.

The report showed that 18.2 million people were jobless in September; this is an increase of 34,000 people versus the previous month. - Goldcore via Zerohedge

The Western economies are cracking, with recessionary numbers in durable good sales, and GDP numbers.  Unfortunately, the FED's recent action of open ended QE is not doing much to stave off collapse in Europe, and inflation in the US is already showing signs of exploding with gas prices over $4 a gallon in many state regions.

Thursday, September 13, 2012

Bernanke and Fed launch QE4evr

On Sept. 13, the markets waited with baited breath for Fed Chairman Ben Bernanke to usher in the Fed's response to save what little is left of the American economy.  In his announcement, Bernanke did not fail, as the central bank has chosen the path of eradicating all traces of a once great nation and empire.



  • *FED TO KEEP POLICY STIMULATIVE FOR `CONSIDERABLE TIME'


  • *FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN'T IMPROVE


  • *FED DOES NOT SAY WHEN MBS PURCHASE PROGRAM TO END


  • *FED TO BUY $40B MBS MONTHLY, CONTINUE `OPERATION TWIST'


  • *FED TO BUY MBS, EXTENDS ZERO-RATE POLICY INTO 2015 - Zerohedge



  • Chart courtesy of Zerohedge

    What this means in laymans terms is not the introduction of QE3, but instead the implementation of QE4evr.

    Operation Twist never really ended for the Federal Reserve, which was the purchasing of $45 billion in MBS per month.  Now, the central bank will be buying an additional $40 billion, which equates to $1 trillion per year, and do so until unemployment falls to levels mandated by the Fed Charter (around 6%).

    Since the U.S. does not have an industrial and manufacturing base anymore, and buying mortgage bonds (MBS) when people can't afford to buy new or used homes on the market, means that there is only one truism that will result in the Fed's actions today.

    Inflation.  Lots of inflation.  Inflation forever.

    Wednesday, August 15, 2012

    Obama administration program to legalize alien workers begins today

    President Obama's plan to allow illegal aliens the right to work in the U.S. begins implementation on Aug. 15th.  1.7 million new legal workers will be entering the workforce at a time when the unemployment rate is well over 16%, and median wages have been dropping for more than a decade.


    "This afternoon, USCIS makes available online the forms and instructions for individuals who will request deferred action for childhood arrivals," USCIS Director Alejandro Mayorkas told reporters in a conference call.

    The program, dubbed Consideration of Deferred Action for Childhood Arrivals, was created in June under an executive order signed by President Barack Obama.
    "Deferred action does not provide lawful status or a pathway to permanent residence or citizenship," Mayorkas said Tuesday.

    The $465 application fee will fund the administrative costs of the program, including a biometric check and issuance of a secure work-authorization document, he said.

    Each request will be examined for possible fraud, he said.
    The forms and instructions are posted at www.uscis.gov/childhoodarrivals.

    As many as 1.7 million youths may qualify for the program, according to the Pew Hispanic Center, a project of the Pew Research Center. - CNN, InAmerica

    Whether or not this ploy to cast aside Federal law regaring illegal aliens is a means to garner votes in November is moot for most Americans.  However, the soon to be realized fact that unemployment, costs to states for education, healthcare, welfare, and others costs will lead to much more division between legal Americans trying to have a sustainable life, and undocumented foreigners from another country who do not feel fighting for change in their own homeland is worth the cost.

    Thursday, July 12, 2012

    Full time jobs are so last decade

    Fellow Americans, welcome to the post credit crisis economy.  In a new report on July 11, new data is showing that part time jobs are replacing full time jobs at a rate of 10 to 1.  That is 10 part time job hirings for every full time position.

    Recovery?  The drugs must be cheap for financial analysts who appear to smoke the crack each time they come before the television screen to lie about job growth and creation.



    The more we sift through it, the more we didn't like it. Even with the bump in June hours worked and average weekly earnings, the reality is that the Q2 results for both slowed markedly. The economy has hit stall speed yet again — the third time in the past three years.
    On top of that, some other details in the data were disturbing. The ranks of the unemployed rose 29k on top of a 220k surge in May. Those who were unemployed and just completed temporary work soared 218k after a 137k increase in May to stand at the highest level since November 2010 (right when QE2 began!). The total pool of available labour jumped 258k to 19.3 million which means that there is now but one job opening for every six people out there who are either actively or passively looking for work. No wonder wage pressures are fading fast.

    There are some pundits who believe that the +25k pickup in temp agency employment is a good sign since in the past this sector acted as a leading indicator for job creation... if only we can bring back those old days. In today's world, the reliance on temp agencies is akin to "just in time" employment strategies — the use of temps is outpacing outright new hirings by a 10-to-1 ratio. The reality is that few businesses want to commit and this shows through in the Household Survey as well with part-time employment in an uptrend and full-time in a downtrend. Moreover, according to a Manpower survey, 30% of temporary staffing this year has led to permanent jobs, down from 45% in 2011. - Gluskin Sheff via Zerohedge
    Welcome to the brave new world.  Welcome to the rewards of the Progressive utopian society, where government benefits spring eternal, and careers are nothing more than low wage jobs that have little security, but help politicians claim they are helping Americans with unemployment.