Posts Tagged 'Bureau of Labor Statistics'

Richard Eskow – Behind the Job Numbers, Millions Are Being Left Behind

A team of political scientists, writing in the Washington Post, concluded that “Trump supporters who are struggling economically perceive U.S. economic performance overall to be much worse than it actually is.”

Those voters believed that the unemployment rate is three times higher than the official number, and these new figures aren’t likely to change that.

“It is noteworthy,” the researchers added, “that the impact of additional factual information about the national rate did not move their perceptions much.”

They may not know ...

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Michael Snyder – Living In A Van Down By The River – Time To Face The True State Of The Middle Class In America

Do you remember the old Saturday Night Live sketches in which comedian Chris Farley portrayed a motivational speaker that lived in a van down by the river?  Unfortunately, this is becoming a reality for way too many Americans.  As the middle class has shrunk and the cost of living has increased, a lot of people have decided to quite literally “live on the road”.  Whether ...

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Nadia Prupis – Census Data ‘Starkly Illustrates’ the Time for Single Payer Is Now

The latest U.S. Census Bureau data clearly illustrates that the need for a single-payer, Medicare-for-all health program has never been more urgent, the advocacy group Physicians for a National Health Program (PNHP) said Tuesday.

The census found that 29 million people went uninsured last year, including 3.7 million children, and that deductibles and other out-of-pocket costs have continued to rise well after the Affordable Care Act (ACA) went into law in 2010.

The data “starkly illustrates how ...

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Sam Becker – How Much Money Does the Average American Have in Their Bank Account?

Despite living in what is likely the wealthiest nation to ever have existed, Americans sure are having a hard time getting by. As most people are well aware of at this point, wage stagnation and numerous structural economic changes over the years have led to a shrinking middle class, fewer and fewer “good” jobs, and calls for political policies that were once thought to be too poisonous to touch — like a $15 minimum wage, for example.

Given that ...

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DIRK BEZEMER – MICHAEL HUDSON – Finance is Not the Economy

Why have economies polarized so sharply since the 1980s, and especially since the 2008 crisis? How did we get so indebted without real wage and living standards rising, while cities, states, and entire nations are falling into default? Only when we answer these questions can we formulate policies to extract ourselves from the current debt crises. There is widespread sentiment that this crisis is fundamental, and that we cannot simply “go back to normal.” But deep confusion remains over the ...

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ERIC ZUESSE – How Corrupt America Is

The best reporting on the depth of America’s dictatorship is probably that being done by Atlanta Georgia’s NBC-affiliated, Gannett-owned, TV Channel “11 Alive”, WXIA television, “The Investigators” series of local investigative news reports, which show, up close and at a cellularly detailed level, the way things actually work in today’s America. Although it’s only local, it displays what meets the legal standards of the US federal government in actually any state in the union; so, it exposes the character of the US government, such that ...

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Jobs: How Good are the Jobs the Economy is Creating?

The Wall Street Journal has an interesting report on the jobs created since the recession.

The article takes a close look at employment and wage data to see the makeup of newly created jobs.

There are some flaws and data inaccuracies in the journal report. Nonetheless it is an excellent starting point for discussion.

Please consider Just How Good (or Bad) Are All the Jobs Added to the Economy Since the Recession?

One refrain we hear often from readers of Real Time Economics is ...

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Dear Janet Yellen, Here Is All You Need To Know About The US Economy: True Unemployment Is Over 12%

One of the great mysteries surrounding the US economy is the seemingly inexplicable discrepancy between the plunging unemployment rate on one hand, which at 5.1% in August was the lowest since April of 2008 – a data point which on the surface would suggest virtually no slack in the labor force –  and the crawling pace of growth of the broader economy, on the other hand, namely the deterioration in US output and labor productivity, and the constant failure of ...

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Bill Quigley – Ten Troubling Numbers Labor Day 2015

5.1. The official unemployment rate is 5.1 percent, or 8 million people, according to the US Department of Labor.  However, this widely reported “official” number overlooks the millions of people unemployed for more than a year nor does it count those who are working part-time and looking for full-time work.  The Department of Labor monthly report which includes people working part-time and looking for full-time work shows the real ...

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Pam and Russ Martens – How U.S. Achieves a 5.3% Unemployment Rate: If You Earn No Money, You Can Still Be Counted as Employed

Last Friday’s nonfarm payrolls report of 215,000 new jobs in July with its attendant announcement of an unemployment rate of 5.3 percent drew mostly yawns from the media. That wasn’t the case on February 3 of this year when Jim Clifton, CEO of the polling company, Gallup, wrote a stunning opinion piece on the company’s web site calling the U.S. unemployment rate “The Big Lie.” Clifton raised more media frenzy the next day when he appeared on CNBC and suggested ...

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