RE and economic charts: Employment Report: No Joy Here

Saturday, March 5, 2011

Employment Report: No Joy Here

[mEDITate-OR:
simply not see what they are not showing you...
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What these charts show U.S. is what we also discuss in the post below, and in my comment to Karl's chart & article.
The 1st & 3rd charts show U.S. that there is little to no change taking place.
We are in an "L" shaped jobless recovery.
What the 2nd & 4th charts show U.S. is that HUGE shift in the total number of U.S. that are employed at any job, and a huge number of U.S. that have simply withdrawn from working.
And, paying taxes.
This began at the beginning of W's term in office
leveled off, during the war(s)...
and then exploded again, when he left U.S., twisting slowly, slowly in the wind.
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As good as it was to rid ourselves of W...
twas as the man on TV said: "But, it's gonna cost ya!"

======== Said The Karl:

Summary: The report did not show any material amount of acceleration; it is, for all intents and purposes, flat. The Household Survey showed some people going back to work, but in terms of percentage of the working-age population the needle did not move to any material degree. The problem continues to be people we don't count as unemployed but in fact are, and as such the statistical gerrymandering of the results will give both the left and right something to spin, but in point of fact there's no evidence of an economy that is recovering it's ability to generate both private income and tax revenues.

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JGBHimself

Mar 04 03:41 PM

Very interesting point, that is seldom discussed in all the hype about all that Federal Debt. IF the shift from being IN the labor force, to being OUTSIDE it, is the new normal; that means that we have possibly as many as 20+ million not paying into the Social Security, Medicare & Medicaid programs. THAT problem will now be on top of the problem that for the last two decades we have deliberately underfunded those programs.

We are now not unlike the state & local pension mess. Ignore the contributions that should be made, especially in good economic times, and you will be crushed when times turn bad. Ugly, Karl, really, really ugly.

But, as Max said to Agent 99: "I told you not to tell me."

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