Although decisively winning his re-election campaign, President Obama’s Labor Department Agency continues to manipulate employment statistics to put an artificially upbeat spin on the current pessimistic employment scenario.
The pre-election drop below 8% was an obvious ploy to rid that anti-election curse hanging over previous Presidents’ future. But the latest November numbers seem to have been skewed with the same twisting of civilian labor force availability that was used to drop the October unemployment percentage to 7.98, from a previous 8.01, with no appreciable gain in full-time employment.
When carefully examining the total November employment report, the following comprehensive figures tell the real story:
1) The November potential civilian labor force lost 350,000 participants from October’s 155,641,000 to 155,291,000.
2) The employment performance participation rate in November fell to a record low of 63.6%, a drop of 0.2%. This left November employment as a component of the U.S.A. population at 56.7%, a drop of 0.1% from October.
3) Those employed from the October level dropped by 122,000 to 143,262
This further widened the gap of those permanently employed on company payrolls.
4) Those additional unemployed for November dropped by 229,000, not enough to offset those giving up looking for jobs, as opposed to those 146,000 added to the full-time workforce.
5) While this left an unemployment rate of 7.7% , a 0.2% drop, it still retained a residue of 12,029 million still looking for work. This brought those now outside the active labor force to 88,883.000, a gargantuan upward move of 542,000, as opposed to October
The total of those no longer in the non-institutional labor force is now at 88,603,000. This devolves into an unemployment rate of 7.7%, of those actively looking, and able to receive unemployment compensation.
However, the Administration attempts to manipulate the numbers, the bottom line indicates that job formations are lagging increasingly behind the 175,000 to 200,000 prospective high school and college graduates, immigrants, and others coming into the workforce monthly.
Ths already drastic employment situation is negatively impacted by the uncertainty of the year-end fiscal cliff determination. It would become infinitely worse, as layoffs are being readied if either an impasse or unacceptable solutions are reached. With close to $2 trillion reposing on business/industry’s bottom line, the bulk of the nation’s independent companies have the staying power to shrink their employment pool substantially further if Obama’s $250,000 ceiling of tax freezing is maintained.
My many and varied contacts have disclosed overwhelmingly, that massive layoffs are already in the planning stages, if the worst case alternatives are imposed on them as a New Year gift.
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