Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

No Hope On The Jobs Front

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Paul Craig Roberts
Prison Planet.com
July 6, 2013

Do you remember the promise of the New Economy that was going to replace the lost “dirty fingernail” manufacturing jobs with innovative highly paid New Economy jobs? Well, the promise was just another deception from the elites who have stolen Americans’ future.

For the umpteenth consecutive month and year, the June BLS payroll jobs report (released on July 5) shows that the US economy has created no such jobs. The same old tired categories account for the same old lowly paid new domestic service jobs.

Of the 195,000 new private sector jobs alleged to have been created, 75,000 or 38% are accounted for by the category “leisure and hospitality.” Within this category there were 52,000 new waitresses and bartenders, and 19,000 jobs in “amusements gambling, and recreation.”

Retail trade added 37,000 employees. Is your local shopping center that busy?

Wholesale trade added 11,000.

Zero Hedge points out that the retail and wholesale jobs numbers seem inconsistent with the latest report from the Institute of Supply Management, which shows a sharp drop in new order components and business activity. http://www.zerohedge.com/news/2013-07-03/non-manufacturing-ism-crashes-lowest-february-2010-new-orders-devastated-july-2009-l Perhaps the New Economy’s inefficiency requires more people to sell less.

Professional and business services added, allegedly, 53,000 jobs, which are largely building management services, janitors, employment services, and temporary help.

  • A d v e r t i s e m e n t

Ambulatory health care services added 13,000 jobs.

Financial activities allegedly added 17,000 jobs despite the Bank of America moving its property appraisals to India. http://www.bizjournals.com/charlotte/blog/morning-edition/2013/07/bank-of-america-routing-property.html?ana=lnk

Local government, despite severe budget cuts, added 13,000 jobs.

The BLS news release points out that the number of involuntary part-time workers (the number of people who are unable to find full-time jobs or whose hours were cut back) increased by 322,000 in June to 8.2 million.

This deplorable report provided the cover for the market riggers to take the stock market up and the gold market down. Remember that economic theory about “rational markets”? Another deception.

Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist and was previously the editor of the Wall Street Journal. His latest book, “How the Economy Was Lost: The War of the Worlds,” details why America is disintegrating.

This article was posted: Saturday, July 6, 2013 at 3:35 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The Truth About the Michael Brown Shooting See the rest on the Alex Jones YouTube channel.

Cop: Get a Gun, We Can't Protect You From Ferguson Violence See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.