• ← Back to INVESTOR TIMES
  • Investing Articles
  • Financial Markets News
  • Tech News
  • Cryptocurrencies News
FREEDOM OUTPOST
No Result
View All Result
FREEDOM OUTPOST
No Result
View All Result
FREEDOM OUTPOST

Another Year of Obama "Recovery"

by
January 28, 2021
in News
0

The much ballyhooed April jobs number is out, and it once again shows how well the Obama economic recovery is going.

It’s been almost 7 years. Shouldn’t we have recovered by now? Heck, in Reagan’s seventh year, we were running like a well-oiled machine, but I digress.

Yesterday, Tyler Durden at Zero Hedge had an interesting perspective on the One’s recovery progress. He wrote that underlying April’s great jobs number of 223,000 is a disturbing trend. Of that number, only 1000 manufacturing jobs were added.

He wrote: “Putting this in perspective, for every manufacturing job added in April there were 26 new waiters and bartenders confirming the robustness of America’s jobs recovery.”

take our poll – story continues below Completing this poll grants you access to Freedom Outpost updates free of charge. You may opt out at anytime. You also agree to this site’s Privacy Policy and Terms of Use.

Durden goes on to explain that “since the start of the second great recession in December 2007, there have been 1.4 million manufacturing jobs lost. They have been almost completely offset by the 1.3 million waiter and bartender jobs gained. In short: serving food is the new making stuff.”

He also attached a chart showing which industries gained and which lost. Interestingly, while government added 10,000 jobs in April, the biggest losers were manufacturing, which gained only the aforementioned 1000 jobs and wholesale trade (business-to-business) which lost 4000 jobs. But, by far, the biggest loser was mining and logging, which lost 11,000 jobs in March and another 12,000 in April. Gee – I wonder what type of mining might be losing so many jobs. Could it be the coal mining industry, perhaps?

But this monthly jobs number doesn’t tell the whole Obama economy story. That’s just a “micro” look at his great work. Let’s take a look at the “macro” – the overall picture.

There are now 93,194 people hopelessly unemployed in our nation. That’s a record, folks! Darn near 30% of our entire population. It’s quite an achievement – one that would be difficult to achieve without making a concerted effort. It’s that or the rankest incompetence, but I’ll let you decide.

In one month, from March to April, 19,000 more Americans became unemployed, dropping out of the work force. That naturally brings us to the real gauge of employment—the dreaded Labor Force Participation Rate (LFPR).

Being that I’ve written about this several times, regular readers know what the LFPR is. Click here to get caught up.

In brief, the labor force, according to BLS (Bureau of Labor Statistics), is that part of the civilian noninstitutional population that either has a job or has actively sought one in the last four weeks. In other words, the LFPR is a percentage of working age people (16 years and up) who either have a job or are actually looking for employment.

Between 2004 and 2008, the LFPR held steady at about 66%. That’s a pretty strong number. Since Obama took office, it has been falling precipitously, from 65.7% in 2009 to 62.45% now. It’s the lowest it has been since 1977—38 years ago—and it shows no signs of stopping its freefall.

Despite all the positive rhetoric and stock market records, we are rapidly approaching Depression-era numbers, and, at this point, it won’t take much to push us over the edge.

It’s almost as if someone is purposely trying to ruin our economy – trying to create revolution. But why?

“We are five days away from fundamentally transforming the United States of America.” –Barack Obama.

“Between capitalist and communist society lies the period of the revolutionary transformation of the one into the other.” –Karl Marx.

Don’t forget to Like Freedom Outpost on Facebook and Twitter, and follow our friends at RepublicanLegion.com.

Previous Post

Don’t Let James Comey and the FBI’s October Surprise Fool You!

Next Post

Omar Demands Twitter Suspend Trump’s Account

Next Post

Omar Demands Twitter Suspend Trump’s Account

About Freedom Outpost

The content of this site has been restored on a non-profit basis to preserve knowledge and serve as a historical archive. All articles were originally published on freedomoutpost.com and belong to their respective authors.

Freedom Outpost was an independent journal published to cover vital public policy issues and offer a public service.

Search in the archive

No Result
View All Result

Latest posts

  • Taking Sides: The Christian's Responsibility in Civic Affairs II
  • EgyptAir MS804 Flight Attendant posted Picture on Facebook of Plane crashing a year before She Died
  • Blue Angels Marine Pilot Capt. Jeff Kuss Could Have Ejected Once He Knew His Plane Was Going To Crash…But He Didn’t
  • Man Jailed After Claiming to be ‘Transgender’ to Assault Women in Shelter
  • Trump: Democrats Against North Korea Summit Just Like They Defend MS-13 & Attack Tax Cuts

InvestorTimes.com

InvestorTimes.com is a privately funded financial publication particularly created for professional and personal investors and intellectually restless individuals.

Our raison d'être is to provide insightful information to any citizen willing to understand global economical markets and the most relevant current affairs.

Contact us: [email protected]

WE ARE LOOKING FOR TALENT

INVESTOR TIMES is always open to the incorporation of talent in its team of journalists and editors. If you would like to be part of our project as a collaborator, we invite you to submit your application.

Contact us: [email protected]

INTERNATIONAL EDITIONS

Investor Times en Français

Investor Times in Deutsch

Investor Times in Italiano

Investor Times em Português

Investor Times po Polsku

Investor Times на русском языке

El País Financiero (edición en Español)

DMCA.com Protection Status

  • ← Back to INVESTOR TIMES
  • Investing Articles
  • Financial Markets News
  • Tech News
  • Cryptocurrencies News

© INVESTOR TIMES

No Result
View All Result


About Freedom Outpost

The content of this site has been restored on a non-profit basis to preserve knowledge and serve as a historical archive. All articles were originally published on freedomoutpost.com and belong to their respective authors.

Freedom Outpost was an independent journal published to cover vital public policy issues and offer a public service.

© INVESTOR TIMES