Job creation not keeping up with population of workers entering market

[Omaha Steve]

http://www.laborradio.org/node/4105

Economic Report: Job creation not keeping up with population of workers entering market

Economic Report:

Even as the unemployment rate drops, the United States continues to miss numbers needed to keep pace with growth of the working population. Employers created 128,000 jobs in August causing the jobless rate to drop from 4.8 percent in July to 4.7 percent in August. Most economists estimate that nearly 150,000 news jobs need to be created each month to keep pace with new workers entering the market. In July only 121,000 new jobs were added. The service sector led the creation of new jobs in August with 118,000 new positions.
Posted 09/04/2006 - 9:07am


Labor Day WIN audio news link: http://www.laborradio.org/files/lo/winsheadlines.ram

[NMDemDist2]

1. how can they post less jobs than population growth month after month

year after year and still claim the low unemployment numbers??

:banghead:

[Liberal Veteran]

2. Enron accounting methods.

That's my guess.

[mcscajun]

5. It's a shell game. U3 is what gets published, while U6 is the whole story

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

[WhiteTara]

13. people's benefits expire and then

they are dropped from the rolls. Voila! Low unemployment.

[Bozita]

3. IIRC, unemp figures include only those currently collecting and those ...

... ACTIVELY searching for jobs through the unemployment agencies of the individual states.

The "official" unemployment figure is intentionally misleading.

[mcscajun]

6. You are correct. U3 gets published, but U6 is the real deal.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=1249059&mesg_id=1249488

[Bozita]

8. Good post! ... Thanks, mcscajun.

[Parisle]

4. Puzzling,... No?

----That job creation can be running behind population growth, yet unemployment DECREASES? Very puzzling, I'd say. Actual unemployment is more in the range of 8% or thereabouts,.... That's what I hear from some fairly high-placed corporate types,..

[mcscajun]

7. No. Your high-placed corporate types are correct.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=1249059&mesg_id=1249488

[Human Torch]

9. "...118,000 new service sector positions in August..."

That pretty much says it all.

I subscribe to the Silicon Valley Business Journal, and I get the daily e-mail update as well. Several times a week there is a news item about some Silicon Valley firm opening a facility in India. When you read about the companies that are hiring (and I'm not talking about the "service sector") it's always "we're hiring, but we're cautious," which means they don't want to hire at all but the serfs will stage a rebellion if they're worked any harder. "Productivity gains" generally mean whip the pony around the track until its heart explodes and then buy a new pony...at least in the California Bay Area. You'll be squeezed until you cry or die, whichever comes first.

Many of the stores, restaurants, gas stations and fast food places in Silicon Valley have "now hiring" in the windows. It's the kind of thing that leads Bush to stump for the re-election of GOP candidates in November with catchy phrases like "The economy is STRONG and gettin' STRONGER...we added 118,000 new jobs in August" (conveniently leaving out the "service sector" part).

:patriot:

[NOLADEM]

10. A shell game indeed

by conservative estimates, the economy must add 150,000 jobs just to absorb new entrants into the labor market. We have rarely had such a month under the Chimp.

They also don't count those not actively seeking employment because they cannot find it, those whose benefits have run out because they have been looking for so long, and they also do not count self-employed or contract employees who are unemployed.

A bigger crisis is underemployment- those who cant find enough work or of decent enough a wage to support themselves and their families.

Make no mistake, America is faltering BADLY for the middle and lower class as the upper class rakes it in, while paying nothing for the privilege.

I still for the life of me cannot understand the mindset of a poor Repuke. What fools.

[oscar111]

11. JOB SHORTAGE = 14,000,000.. gov statistic

see my sig for link, and

in the future, avoid all fragmentary stats .. which fragments .. are what bush and MSM love to waste your time with.
==========================

More overall big picture stats for you:

116 Trillion is US wealth.. google Demopedia, see "all pages" then "wealth"

55.5 Trillion is world's GDP... source is one that cites in turn, the cia site... but be aware, in news lately it said white house and IIRC, cia, admitted illegall y placing cookies on visitors cprs. hmm

UN reports .. about May this year.. globalization has pushed humanity down, so now a third are in p;overty

another report about two yrs ago.. half humanitys children are either

hungry
dying of a fatal disease, or
orphans.

nine million humans of all ages, will starve to death this year.

[david_vincent]

12. Since you've expanded the discussion geographically,

the CBC ran a report a couple of months ago on some town in Romania. It was full of horrible bunker-style concrete apartment buildings, half of which were completely abandoned and empty. It was a mining town and the mine was barely operating. The whole place looked like it had just come out the loser in a very bad war, but of course there hadn't been any fighting at all. Anyone who could leave had left. The film crew visited a woman who lived alone with her two kids there, in unspeakably awful conditions. The poor woman said that if it weren't for the fact that she had to keep struggling for her kids' sakes, she would've killed herself. These people were completely bereft and it looked like a truly hellish existence. There are LOTS of places like that on Earth, unfortunately. This town was reported to be typical of towns in the whole region and these people had nothing.

[alfredo]

14. and those numbers are not reflected in the unemployment

numbers, nor are the underemployed. We have never gotten the truth out of the bush junta, and probably never will.