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OpEdNews Op Eds    H2'ed 9/4/17

The Vanishing American Dream

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Message Paul Craig Roberts
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From Paul Craig Roberts Website

Jobs, Unemployment
Jobs, Unemployment
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Today is Labor Day, a difficult day to celebrate now that American labor has been cast aside and US jobs offshored and given to foreigners. The remainder of the jobs is slated to be replaced by robotics.

Friday's payroll jobs report was full of bad news. Full-time jobs declined by 166,000. The meager 156,000 new jobs claimed are really only 115,000 net of the prior month's revision, and this 115,000 jobs estimate is within the range of statistical insignificance. In other words, there is no confidence that the jobs are actually there.

The US workforce continues to develop a Third World complexion of lowly paid part-time domestic service employment. The American Dream continues its closedown.

Meanwhile the government tells us that we are at full employment with an unemployment rate of 4.4%.

 

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Dr. Roberts was Assistant Secretary of the US Treasury for Economic Policy in the Reagan Administration. He was associate editor and columnist with the Wall Street Journal, columnist for Business Week and the Scripps Howard News Service. He is a contributing editor to Gerald Celente's Trends Journal. He has had numerous university appointments. His books, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is available (more...)
 

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