CNNMoney: Job Numbers "Aren't So Pretty Beneath Surface"

by JASmius



You don't say:

Many financial commentators expressed enthusiasm over the stronger-than-expected September jobs report, but the picture isn't as bright beneath the surface.

Non-farm payrolls rose 248,000 last month, and the ["official"] unemployment rate fell to a six-year low of 5.9%. So what's the problem? CNNMoney cites three of them:

• "The 'glass is half-empty' workers: part-time jobs remain a big problem. Over seven million Americans want full-time work, but can only find part-time hours."
• "The 'I'm done' crowd." These are people who have given up seeking a job for at least four weeks. There are approximately 700,000 of them, up almost 100% from 2007 before the recession began.
• "The 'lost workers.'" These are people out of work for at least six months. They now account for almost one-third of the unemployed, up from 17% in 2007.

"Economists say the job market will continue to improve, but may take years for these economic wounds to fully heal," CNNMoney notes.

"Economists" are evidently incurable optimists when a Marxist-Alinskyist is in unchallengeable power.  But the problems CNN Money references are prima facie evidence that jobs are not being created, the U.S. economy has not "recovered" but is still in the same waste extractor into which the Democrat Financial Logic Bomb discarded it six years ago, and we are in a Second Great Depression being kept unmercifully and resolutely in place by the corrupt, anti-capitalist policies of the Obama Regime.

Larry Kudlow is the most recent observer to point out the key employment statistic:

CNBC commentator Larry Kudlow is quite concerned about the job market. "We still can't seem to stop the hemorrhaging of people dropping out of the labor force," he told "The Steve Malzberg Show" on Newsmax TV.

He noted that the labor force participation rate fell to a 36-year low of 62.7% in September. [emphasis added]

And strangely enough, that percentage continues to plunge, with no floor in sight.

When I say that the disappearance of the last American job will be marked by Barack Obama striding triumphantly into the Rose Garden, or the East Room, and declaring that, "We have achieved full employment!", I am deadly serious.

And since "economists" will be in the same impoverished boat, I wonder what they'll have to say about this "momentous" occasion?