The End Of US Is Coming? Jobless Rate Falls To 7.7% Due To 540,000 People Drop From Labor Force While The United States Actually Has A Higher Percentage Of Workers Doing Low Wage Work Than Any Other Major Industrialized Nation Does!
146,000 Jobs Added In November, Beat Expectation Of 85,000, Unemployment Rate Lower At 7.7%
Confused why the unemployment rate dropped? The same, favorite BLS adjustment – a drop in the labor force participation rate which declined by 0.2% to 63.6% once again, as the number of people out of the labor increased by over 540K to 88,883,000.
In terms of quality of jobs, the biggest gain was in retail jobs as expected in part of the Thanksgiving rush, which added +53K jobs, Professional and Business services rose by 43K, of which Administrative and Waste Services was +23K, and Hospitality and Leisure +23K: all los paying jobs. Construction jobs lost: 20K.
UNEMPLOYMENT RATE PLUNGES TO 3.8% — FOR GOV’T WORKERS
The unemployment rate for government workers plunged from 4.2 percent in October to 3.8 percent in November, according to the Bureau of Labor Statistics, as government added 35,000 to its taxpayer-funded payrolls during the month.
In October, federal, state and local governments in the United States employed 20,524,000 people. In November, that climbed to 20,559,000.
As recently as July, the unemployment rate for government workers was as high as 5.7 percent, according to the BLS. That month, government employed only 20,015,000.
The United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.
And our politicians are certainly not helping matters. Many of the things that they have done are actually going to accelerate the loss of good jobs. For example, as one small business owner recently pointed out, Obamacare is going to force businesses all over the United States to minimize the number of full-time workers they are using and replace them with part-time workers…
Here is what I am doing for the rest of the year — working with every manager in my company so that as of January 1, 2013, none of our employees are working more than 28 hours a week. I think most readers know the reason — we have got to get our company under 50 full time employees or else I am facing a bill from Obamacare in 2014 that will be several times larger than my annual profit. I love my workers. They make me a success. But most of my competitors are small businesses that are exempt from the Obamacare hammer. To compete, I must make sure my company is exempt as well. This means that our 400+ full time employees will have to be less than 50 in 2013, so that when the Feds look at me at the start of 2014, I am exempt. We will have more employees working fewer hours, with more training costs, but the Obamacare bill looks like about $800,000 a year for us, at least, and I am pretty sure the cost of more training will be less than that.
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Whistler Blowers, Insiders
More lies.
So why is a con man still president?
Yes, and each gov job costs taxpayers an average of about 10k a month to support, while the average food stamp recipient recieves an average less than $200 and the costs are about $400 a month. And who do the republicrats choose to attack? I believe there are about 30 million state and federal workers. Why so many?
Most Americans only know how to rackateer, lie, cheat and steal what goes around comes around for you, this demise you speak of, it is a bad thing?
You are stupid, I am a carpenter, plumber, mechanic and now I work in a warehouse because the work for tradesmen is so unpredictable. There are more like me than what you stated above. The longer people go without jobs, the more organized crime we will see because people are depressed and struggling to survive and that is exactly what the government is pushung for.
@Awakenow2….. you speak the truth! We are being driven over this cliff… it’s inevitable. The only question is how hard we land.