US: Unemployment - same old tricks on new level

Vitaliy_Kiselev

Via: zerohedge.com

Vitaliy_Kiselev

Few more interesting facts:

US started fiscal year 2011 (Sept 30, 2010) with 129,885,000 employed
US started fiscal year 2012 (Sept 30, 2011) with 131,694,000 employed
at January 31, 2011, the US had 130,456,000 employed
at January 31, 2012, the US had 132,409,000 employed

Said otherwise, in the first 4 months of fiscal 2011 the US "created" 571,000 jobs; in the first 4 months of 2012, the US "created" 715,000 jobs. More importantly, between January 31, 2011 and January 31, 2012 the US added 1,953,000 jobs.

And yet...

Over the same period, as shown above** tax withholdings are actually trending lower in 2012 compared to 2011! ** But that's not the kicker. This is:

The 130.456MM workers "employed" at January 31, 2011 created a total of $592.985MM in withholdings, or on average of $4,545.48 per worker over the first 4 months of the fiscal year 2011.
The 132.409MM workers "employed" at January 31, 2012 created a total of $592.675MM in withholdings, or on average of $4,476.09 per worker over the first 4 months of the fiscal year 2012.

Translation: **based on the above, even as America was "creating" jobs, 2 million to be precise (and 2.5 million between Sept 30, 2010 and January 31, 2012), the government tax revenues created by these jobs actually declined in 2012 compared to 2011, on a per job basis, by roughly 1.5%! **

Via: http://www.zerohedge.com/news/quality-assessment-us-jobs-reveals-ugliest-picture-yet

NickBen

Current US President is only concerned about 1 job in the US... I hope he gets an early retirement and takes that position on Apple's board ASAP...

I say that because he's relentlessly Pro-Apple and NEVER criticizes their massive profits and the lost tax revenue from overseas outsourcing, yet they are one of the biggest exporters of Manufacturing abroad

You would think in this economy the President would propose a new Apple manufacturing plant in Harlem or Detroit, so the black youth could get a chance for good paying technology jobs, but no... those jobs are outsourced to the Chinese youth at slave wages

Apparently, our President's greatest achievement was making people disappear from the US workforce...

Vitaliy_Kiselev

@NickBen

Idea of moving Apple jobs back will result in disaster. It is not that moving jobs is bad. It is that Apple and few similar companies are giant cash cows used to finance problems. This not only require money they actually don't have already (only on bank reports). But it'll also require to recreate all the suppliers, technologies, education that had been lost.

Right now idea is more simple. Introduce global haos and war. Controlling key energy sources at the same time (under controlling I mean ability to destroy main production bases in short time).

bostonmike

I used to be a truck driver and I paid $25 a week for my family's heath insurance.....I went back to college to become a registered nurse and now I pay $185 a week because my income is higher (not that much higher)....America is the land where you fight to get ahead and they keep pulling you back down. If there is way for the government to fleece money out of your paycheck then they will find a way to do so. Meanwhile people on welfare get a free ride on the backs of the struggling middle class. In fact, they make more money on welfare than if they went out and worked....something is wrong with a system that rewards those for not working and penalizes those who are more industrious or hard working...if I didn't have to pay $185 a week in healthcare, I wouldn't have to make $17 camera rigs..lol

jpbturbo

"The adjustment increased the estimated size of the civilian noninstitutional population in December by 1,510,000, the civilian labor force by 258,000, employment by 216,000, unemployment by 42,000, and persons not in the labor force by 1,252,000. Although the total unemployment rate was unaffected, the labor force participation rate and the employment-population ratio were each reduced by 0.3 percentage point. This was because the population increase was primarily among persons 55 and older and, to a lesser degree, persons 16 to 24 years of age. Both these age groups have lower levels of labor force participation than the general population."

From here: http://www.bls.gov/news.release/pdf/empsit.pdf

It seems that reducing the labor force by 1.2 million is a pretty easy way to get the unemployment percentage to go down.

xyltha

@Nickben

Blaming President Obama (that's the current US Presidents name btw), as if he created this trend, is not fair. It's politics as usual. As the kids say, "Don't hate the player, hate the game."

Do you think if a republican is elected they will hold corporations accountable for anything? That is part of the Republican platform!

We could go over this stuff all day, but I want to get out and shoot before the light is gone.

GH2_Hood

xyltha,

You're absolutely right, but he can be blamed for continuing the same policies as Republicans before him, and even for creating new ones which further reduce every individual American's ability to find employment.

The most pertinent issues at hand, which has the most disastrous consequences upon the wealth of every individual? The existence of a fiat-central bank, called the Federal Reserve, and our military occupations throughout the world.

-Hood

P.S. Ron Paul 2012

GH2_Hood

Vitaley,

Another source for stats not manipulated by current government tricks:

shadowstats.com

Also, keep in mind that most of the jobs being "created" are government sector, which are counter-productive, and only further serve to siphon the wealth and rights from every individual.

onlocation

@bostonmike since when does health insurance consider your income? LOL it's not like when you make more money they automatically find out and up your rates, I think there may be some other factors in your situation ;).

cls105

I'm a freelance video editor turning down work in NY and I'm provided health insurance since I meet the requirement of hours by my clients. Fuck all governments and politicians. I don't trust any of them. the us has been living in an unsustainable manner (outsourcing, wars 10billion/mo, lack of quality education) for far too long. Now most people are paying the price. Unfortunately developing countries are using the same techniques that the us has been using with multinational corporations, greed, investment banking where there must always be profit & growth. Do what you have to do to get ahead, because nobody will give you a hand out. Its sad but true. Humans have been slaughtering and enslaving each other since the first civilizations. Do I want this to change OF COURSE. Do I depend on a dishonest corrupt government or elected official, hell fucking no. Everyone keeps saying its the 99% and 1%. This is bs. I'm no millionaire, but im also not like the majority of retards and primates you hear abusing their children in the subways. There will always be a disparity in intelligence and as long as that happens people will not have same "quality" of life.

brianluce

Mitt Romney is touting the same economic policies that created the 2008 economic crisis. Americans would have to be pretty stupid to go back to those failed policies. Stay the course. Be smart.

bostonmike

Actually Onlocation...they do take your income into consideration. They don't ASK how much you make, but they make it a law that you NEED health insurance and then they offer free and practically free healthcare for people who qualify for low income health insurance...and if you don't qualify for free/reduced rate health insurance, you are basically thrown to the dogs (insurance companies). Thus, if you slack off in life and make less, then the government will reward you for it....if you're deemed a "minority", the government rewards you for it..you can score less than your white male counterparts on a police/firefighter/government job and get the job before the white guy under the guise of filling a "quota"...and of course the only white guys who are hurt by this are those white guys who are applying for police/firefighter jobs..mostly inner-city, working class guys who's parents were Irish, Italian, Russian, Polish, etc immigrants and never got handed anything in this country. Most people will call me a racist for saying that because they're afraid to say the truth. They grew up with liberal politics jammed down their throat to the point that they can see logic and reason for what it is.

Thomas Jefferson once warned that the "tinsel aristoi" would rise up in America, a class of elitist, pseudo Americans who would wrest control of our nation and destroy it from within. I think Obama and the liberal left has pretty much verified Jefferson's prediction.

bostonmike

cls105...the 99% are the biggest hypocrites ever. They need to just shut their pieholes and go out and work. I was disgusted at these unclean lowlifes setting up tents in my city...the ironic thing is most of them lived out in the burbs and came into the city to play poor...I was once poor, but when I was 12 I went out and got this thing called a "job"..I've been doing it ever since.

cbrandin

The way unemployment statistics are generated by the BLS hasn't changed since 1994. You can argue that formulas aren't accurate (I wouldn't disagree). The idea that Obama has somehow changed those calculations is simply wrong. Every president since 1994 has been subject to the same unemployment calculation methods. You can't apply one method to when somebody else was president and a different method now and say Obama has "cooked" the numbers in any way that is different than anybody else had since 1994.

Vitaliy_Kiselev

Formulas play very minor role here. Calculations are based also on adjustments (with not very clear logic), throwing out people out of the labor force, corrections after some passed time, etc

As for Obama. He has same power to change anything as gibbon in you near zoo. It can only make loud noises.

brianluce

@Vitaliy Obama could nuke Iran if he wanted. I'd like to see a Gibbon do that. If you mean only in regards to employment rate, that's another story. Bostonmike, I hear that drivel all over the web. I know, you just hate it that a Black guy was elected president. Get used to it. And in the mean time, take a visit to your local housing project and see how good they have it. Those places are hell on Earth, with the worst schools, worst health care, and lowest standard of living in America. It's not the Nirvana you think. It's Orwellian to say the poor have it good. Really.

Vitaliy_Kiselev

Obama could nuke Iran if he wanted. I'd like to see a Gibbon do that.

Obama certainly can read a paper that will have words about it. This is that I mean. It is sad to be peace Nobel prize winner and not destroy three-four countries.

He can make noises like gibbon. Be it his own noises, or written by someone for him. But it plays same role.

NickBen

@xyltha the President is the highest title in the US Government, and carries weight of representing the interests of the entire country. Obama is my current US President and was my senator before he became Mr. President, and I see little improvements over the last 3 years on the ground level locally, be it real unemployment, housing or inflation - in fact the state he represented is now 5 years from total economic collapse at $35 billion estimated in debt, excluding unfunded pension obligations. In the meanwhile, Washington DC has seen financial prosperity and Government workers make more than private sector counterparts. I see no major improvement coming from the current lot of Republicans (except Ron Paul who likely won't win anyway, and is Libertarian anyway) Neither party represents average working (and previously working) Americans enough to do anything about the corruption and financial recklessness in all current US politics period...

@Vitaliy_Kiselev
I studied and firmly believe in the philosophy "BUILD it where they BUY it" Why does this approach work for Toyota globally but not Apple in the US? Americans would buy north american built iphones, asians buy Chinese built iphones, etc...

This approach would have nearly eliminated Thailand and Japan production issues in last year, and should be implemented by all major global corporations.

Build products on 4 continents, and sell each version in their market. That way, each product caters to local needs and if one continent has production / labor / political issues, you have 3 other sources globally.

I also look forward to future automation / production robot wars where robots replace laborers and robots build better robots, as President Obama did already blame ATM's for part of past high unemployment figures ...

Vitaliy_Kiselev

@NickBen

You approach means the following:

Big and fast life level drop in US, as all money will be forwarded to rebuild industry in short time
Open statement that major US companies are in fact tricksters and do not have most of the money will impact banks (who made actual operations). It'll worsten situation even more.
If you have 5 factories around the world instead of one, with very long components routes, you loose effectiviness for many goods, so more life level drop will follow. Much smaller markets also means same thing.
Idea with robots is old. Apple also had robots but dumped all of them. They cost big money, need energy and service, impossible to use if you make fast changes and adapt to different products.

Many goverments want to have more industry, but no one can allow the fast consequences.

bostonmike

Brianluce...I love how people resort to the race card when someone has a valid argument...I'm assuming my comment about affirmative action somehow makes me a racist..because I believe in rewarding people based on merit, not by the color of their skin.. Wouldn't awarding people based on the color of their skin be racist?..or have you been brainwashed into thinking that a double-standard doesn't exist there? The color of Obama's skin means nothing to me, the culture he embraces and the people he makes excuses for means a lot (ie..Jeremiah Wright, Farrakhan, Bill Ayers). A "Beer Summit" because a police officer did his job and was accused unjustly of racism because he arrested a black professor. This president is a mockery of the office. He is the most unqualified man to ever become president and he was only elected because most blacks foolishly voted for him simply BECAUSE of the color of his skin. Liberal whites voted for him because they thought electing the first black president would be "cool" and "historic", not to mention that they have their heads up their ..... anyway. Hollywood celebrities voted for him because they are the most decadent, clueless people living in this country. As far as housing projects go, I grew up right here in Dorchester and South Boston and if you knew anything about these neighborhoods you'd know that I've seen more housing projects, guns, drugs, random violence and racism (mostly black on white) to last me a lifetime, so you don't need to give me your second-hand, liberal textbook rendition of them. I've walked these streets firsthand. Just remember, gas was $1.81 when my man George W. left office, its $3.75 now. Face it, you bought the mocha because everyone else was buying it, but it didn't taste so good after all...time to retire this creep and put a real American like Mitt Romney back in the White House.

Nigel785

@bostonmike

Mitt? Really? Your "man" effed all of us, into a perpetual never ending battle on a tactic. Genius.

Oh and Mitt ain't gonna cut shit. He's a big gov conservative just like you.

"The Massachusetts state budget was $22.7 billion a year when he took office in January of 2003.

When he left office four years later, it was over $25.7 billion – plus another $2.2 billion in spending that the legislature took “off budget.”

Cut a trillion takes brass balls son. Ron Paul 2012

brianluce

Ah okay, a Southie. Yes, I know the attitudes of that place and have been there. One day you'll realize that President Obama is one of the few politicians that gives a shit about places like Southie. A great irony of our times. Doubt me? just follow Romney's own words.

ghkqn

Having worked with outsourced Taiwanese companies, including Foxconn, I do not see how those manufacturing jobs can be moved back to the US. I read in the NY Times that is the same answer Steve Jobs gave to President Obama. Beyond the low labour costs, there is the labour flexibility. I have been on conference calls with many of these companies at 3am, their time, and they can turn around their production lines on a dime if needed (you cannot do this with any robot). This is something that cannot be done in the US nor in Europe because of existing practices and regulations. It is no secret that Chinese workers in those factories work like animals, but unless US and European or even Chinese consumers vote with their wallets, those workers will always be exploited. These are not good paying jobs: they never were. If you have visited Foxconn, you will be surprised to find a factory with built in dormitories the size of a US metropolitan area. All the workers in that factory work, eat and sleep there, from director level down to assembly workers. It is a 7-day job, and if needed to be your day could start at 2am.

brianluce

@ghkqn I'm surprised people in the USA haven't figured this out yet. There is a light at the end of the black hole though. I lived in the Philippines for a long time, I watched them go from zero call centers to 400,000. Philippines has more than India now. Yes, they work like slaves for slave wages, but it has nonetheless transformed retail and the entire landscape actually. Malls everywhere, selling things to a new consumer class. Condos, motorbikes, smart phones. Eventually things will equalize in the hemispheres, not to mention that the new Filipino consumer class already purchases things MADE in America. The bad news? Might take several generations for the economies to equalize. The worse news? A lot of these kids are smarter than Vitaliy, and Vitaliy is a smart F'ing dude. So, can our kids compete?

bwhitz

@bostonmike "...I love how people resort to the race card when someone has a valid argument..."

+1

This is just how liberals argue. Since they have no contradictory free premises, they resort to attacks that are completely emotional or subjective. i.e. "I don't listen to assholes", "that guy hates poor people", "he's just racist, xenophobic, homophobic, ect..."

The modern liberal would argue that 1+1=2 was wrong if presented to them by someone they believe to be "racist".

@brianluce "Doubt me? just follow Romney's own words."

Ok, yea, here's a good example... Romney said he doesn't care about helping the very poor. Ok, so you can take that as "he's an asshole" and invalidate any position he has... or you can think about it logically and try to understand the statement on a more objective level. Is it sad that there are poor people? Absolutely. So what would cause him to make a statement like that? Could it just be that maybe while helping "the very poor" would be nice... there is just no evidence that suggest that doing so would improve the overall economy of the country? Most likely...

Just because someone sounds like an asshole (which is again subjective), doesn't mean their positions are any less valid. Maybe Romney made that statement because he's assumes that the general population would respond as logical adults instead of crybabies.

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