There is a lot about this “cycle” which is totally upside down, but retail sales in May just might represent the apex of the Orwellian transformation; all on the say so of seasonal adjustments. The worst data in years, comparable only to the worst economic experiences in recent history, are now counted as a “surge” in spending and cause for both optimism and doom.
by Jeffrey P. Snider • July 14, 2015
From The DailyCaller.com, by Elizabeth Dorton, 07/25/13 –
A new report published by the Century Foundation shows that though the unemployment rate is going down, the decreasing numbers aren’t due to a spike in employment rates or job creation. Instead, more people are leaving the work force entirely.
The streak is over, but that is very misleading.
- The number of unemployed persons (12.1 million) dropped by 456,000.
- The number of persons unemployed (2.5 million) for less than 5 weeks declined by 302,000.
- The number of long-term unemployed persons (jobless for 27 weeks or more) was little changed at 4.8 million.
- The number of long-term unemployed persons accounted for 40.1 percent of the unemployed.
- Total employment rose by 873,000 in September.
- The Labor Force Participation rate was little changed at 63.6 percent.
- The number of persons employed part-time for economic reasons rose from 8.0 million in August to 8.6 million in September.
From The Heritage Foundation (Morning Bell), October 7, 2011 – Yesterday at the White House, President Barack Obama faced the media to once again plug the American Jobs Act–his plan for more stimulus spending, paid for with even more taxes on America’s job creators. And this morning, not a day later, America received a reminder of why a continuation of the President’s tried-and-failed policies is not a prescription for success: In September, the U.S. unemployment rate held steady at a dismal 9.1 percent with 14 million Americans still out of work. About 103,000 jobs were added, but 45,000 of those were simply Verizon strikers returning to work, and the number of long-term unemployed (27 weeks or more) increased by 208,000. Continue reading →
According to the data, taken from the Washington-based Economic Policy Institute, median net worth of white households fell from $134,280 in 2004 to $97,860 in 2009, while over the same period median black household net worth went from $13, 450 to $2,170. Continue reading →