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Real Work Force – 11/30/14

08 Dec

Graph - General - Decreasing - 01

The FedGov released its unemployment propaganda for November 2014 showing no change to the unemployment rate at 5.8% with a better than expected 320,000  jobs created.

The Gray Lady’s cheerleaders continued their applause:

Ever since the recovery from the Great Recession began more than five years ago, the most crucial missing pieces of the economic puzzle were the lack of consistently strong gains in hiring and better wages for most working Americans struggling to make ends meet. Now, at last, those pieces are starting to fall into place. The Labor Department reported on Friday that employers added 321,000 jobs in November, a much stronger number than economists had predicted and the 10th consecutive month of net job gains above 200,000.

But at the Labor Department, they’re having trouble explaining the numbers compared to November 2013:

The raw, unadjusted data from Labor showed that 523,000 new jobs were created in November 2013. After that figure was seasonally adjusted, the growth was reduced to 203,000.The raw, unadjusted numbers reported Friday showed 497,000 new jobs — or 26,000 less than last year’s 523,000 raw number. Yet, this November’s adjustment resulted in a headline figure of 321,000 — or a whopping 118,000 more than last year.If the seasonal adjustments stayed consistent Friday’s growth should have been less than last year’s 203,000!

FedGov calculations still don’t really show the true picture of employment in America.  They don’t answer this question:

Ignoring all demographics, who is ‘in’ the wagon versus who is ‘pulling’ the wagon?

How many people are working as a percent of all the people in the United States?  Here’s the trend…

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RWF - 20141130 - Real Work Force - 01

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After the April 2014 nosedive, the rate is struggling to rise back to the levels of the prior year.  There was little change in the labor force number again this month, so while 320,000 jobs is a good headline, it will likely be adjusted more in line with November 2013.

At the end of Clinton’s administration, over 50% of the population in America were in the labor force!  That number stayed mostly the same and then increased through through the early parts of 2007.  That percentage has decreased since the beginning of 2007 and is now down by fully 2%.  You’re welcome to comment below as to what happened in early 2007 to turn the trend around.

In today’s numbers, that’s a reduction of almost 6,000,000 jobs.

Below is the percentage of change from month-to-month:

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RWF - 20141130 - Real Work Force (Percent Change) - 01

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Labor Force Data from bls.gov:

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RWF - 20141130 - Labor Force - 01

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Population Estimate from census.gov:

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RWF - 20141130 - Population Estimate - 01

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Things won’t get better in this country until millions more people are pulling the wagon!

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1 Comment

Posted by on December 8, 2014 in Economy, Unemployment

 

Tags: , , ,

One response to “Real Work Force – 11/30/14

  1. HC

    December 11, 2014 at 12:44 am

    until millions more legal people are pulling the wagon

     

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