Friday, July 8, 2011

What The Unemployment Report Doesn't Tell You

Since 2007 and throughout these hard economic times, the workforce has remained constant at about 154 million workers. This is despite an average annual birth rate of approximately 1.25%. So, theoretically, and based on births alone, the workforce should have grown by about 8 million new workers (2 million workers a year); with this year's workforce totaling 162 million. Additionally, this country allows the legal immigration -- both permanent and temporary -- of about 200,000 to 300,000 work-eligible workers and their families each year. This, then, taken into consideration, means we should have a real current workforce of about 163 million workers. But, we don't.

Now, to the point of all these statistics.

Month after month, the employment reports have shown that we have added new jobs to the economy. Last month, as reported this morning, only 18,000 new jobs were added. But, is this real job growth? Not, hardly. The fact is that the 18,000 new jobs falls horribly short of any growth in our workforce. As shown above, we roughly add about 2.25 million new workers to the workforce each year. That's approximately 187,000 new workers per month. Therefore, if we don't exceed 187,000 new jobs in any given month, we're actually losing jobs. This month, therefore, we really lost about 169,000 jobs if normal workforce growth is taken into consideration. That is the story that this and every employment report never tells you. Since Obama has taken office, the workforce hasn't grown at all; despite nearly a trillion dollars in stimulus. In essence, 5.6 million new workers in the last 2-1/2 years have just fallen off the map and their fate has never been reported in our so-called monthly employment report. That's a sad story that ought to be told. Instead, we have a President touting that his policies have added 2 million jobs to our economy since his taking office. But, as proven here, that 's a very false claim in light of normal workforce growth. To me, it's just another Obama con-job!

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