Power of Story
Send a Tweet        
- Advertisement -
OpEdNews Op Eds

America's Dismal August Jobs Report

By       Message Stephen Lendman     Permalink
      (Page 3 of 6 pages) Become a premium member to see this article and all articles as one long page.
Related Topic(s): ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

opednews.com

Author 194
Become a Fan
  (191 fans)
- Advertisement -

The manufacturing index collapsed. It fell from 50.6 to 36.4. It's the weakest showing since August 2010. The index of aggregate hours worked barely gained 0.1%. In July it lost 0.2%. In Q 3, it's running at 0.2% annualized growth. 

It's half what Q 2 posted and slowest since Q 4 2009. It portends slower Q 3 GDP growth than Q 2's weak 1.7% pace.

- Advertisement -

Hourly and weekly earning declined fractionally. The latter fell for the second straight month. It was the first time since winter 2009. Given rising food, energy, healthcare and transportation costs, household spending power is increasingly pressured.

Forward-looking indicators portend further employment deterioration. Workweek and overtime hours growth are absent. The factory workweek declined for the past four months.

- Advertisement -

Most jobs created are part-time or temp low pay/poor benefit ones. Temp hiring tends to lead total employment up or down. It fell for the first time in five months.

In August, it's significant that nearly twice as many people went on food stamps as found jobs. Recovery is pure fakery. Main Street America remains in protracted Depression. Half the population is impoverished or bordering on it.

Lost public ector jobs make things worse. Instead of creating them during hard times, nearly 700,000 federal, state and local positions were shed since summer 2008. Around half are teachers. 

- Advertisement -

It's part of Obama's anti-public education jihad. He wants it commodified into another business profit center. Teaching and learning don't matter. Corporate America's bottom line counts most. At issue is sacrificing a generation of youths on the alter of money power wanting more of it.

Next Page  1  |  2  |  3  |  4  |  5  |  6

 

- Advertisement -

View Ratings | Rate It

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon



Go To Commenting
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert