The Problem With UnEmployment

The Problem With UnEmployment by Rory – The Daily Coin

Each month corporate media fawns over the unemployment numbers like they are somehow tied to reality – they are not. As a friend of mine once said it is probably the most politicized pieces of information we receive, and we are given a fresh new number approximately every 4 weeks.

If a person wants to better understand the reality of the unemployment situation they should visit, and consider subscribing, to John Williams Shadow Stats website. As an economist that was part of the Reagan administration Mr. Williams has a good handle on how the numbers used to be calculated, how they are currently calculated and the path from between 1980 and today.

ZeroHedge published an article on June 6, 2018 – The Surprising Reason Why There Are Now More Job Openings Than Unemployed Workers – to attempt to explain how the U.S. could possibly have a 3.9% unemployment rate but there is a complete lack of worthwhile jobs to be found. Sure, if you want to work $9-$10 an hour there are millions upon millions of those jobs and a person could 3-4 before sunset. A person would need 3-4 of these jobs to produce an income that will sustain a family, pay a mortgage/rent, car note and, oh yeah, food. Try to live on $350 per week, after taxes and see how far it gets you.

According to the WSJ’s Justin Lahart, the lack of churn likely has to do with the aging of the US workforce, validating the point that unemployment is moving lower because more and more senior citizens, who would normally be expected to retire, are forced to stay in, in certain, stereotypical cases as part-time Walmart greeters. Source – ZeroHedge

The real problem was codified in one of the comments to this article – Buckaroo Banzai Wed, 06/06/2018 – 13:53 stated the following:

The obvious explanation for why “churn” is down is, there simply are fewer high-quality jobs to jump to. Thanks to thirty years of unchecked illegal immigration, and massive abuse of programs like H1-B, the supply of sh**ty, low-quality, desperate jobseekers has exploded. Say’s Law tells us that supply creates its own demand, so the US economy has reoriented and reordered itself into a squashed pyramid with a huge supply of crappy jobs at the base of the pyramid but a tiny supply of good jobs at the top. With no place to go, people are forced to stay at the bottom of the pyramid.

This is a structural problem. Until we close the border, deport the 50 million illegals, and terminate all programs that allow the employment of foreigners like H1-B, this problem can not get fixed. The US economy has to be restructured around high-quality people, and high-quality jobs. That begins with fixing the genetic problems of the current labor pool–i.e. get rid of the third-world people that have brought the third-world economy in with them.

Anyone that doesn’t understand this is the actual problem needs to remove the rose colored, SJW glasses and take a look around. What you will see is exactly what Buckaroo points out. The lack of high quality, high paying jobs is directly tied to “emerging market” countries sending their best and brightest to the U.S. utilizing the H1-B visa for 25% of what an American, with the same skill set and credentials, would command for the same position. This problem has been growing for the past three decades and is now doing it’s part to kill the economy. The corporate heads all get theirs while the people are left with part time jobs or low paying full time jobs.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.