Employment Picture Improves - Oh Really?

Poor Man Survival

Self Reliance tools for independent minded people…

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ISSN 2161-5543

"Gold is the money of kings;
silver is the money of gentlemen;
barter is the money of peasants;
but debt is the money of slaves."
-- Norm Franz
American minister

 

 While the tax payer funded vacation tab for Obama and his VP reached a record $40 million, the average American is suffering…the Obama administration still strangles the economy with massive new regulations and red tape.  Dozens of areas of life affected from energy costs to finding a job…

 

A recent study confirms that overall, middle class wealth plunged by 28% just in the past decade. And just look around: We all know or have heard about people who were once comfortably middle class, but are now fighting to keep their heads above water.

 

Our economy is certainly not "recovering".  Despite what you may hear from the politicians and from the mainstream media, the truth is that the U.S. economy is in far worse shape than it was prior to the last recession.

 

We are the most over regulated nation on the planet and it is destroying our economy.  The average worker has not had a real raise (factoring in inflation) since the 1980s and living wage jobs have not returned.

 

For example, the percentage of working age Americans that are employed has stayed remarkably flat for the past four years.  We should be grateful that things have not continued to get even worse.  It is almost as if someone has hit the “pause button” on the U.S. economy. 

#1 The homeownership rate in the United States has dropped to the lowest level in 19 years.

#2 Consumer spending for durable goods has dropped by 3.23 percent since November.  This is a clear sign that an economic slowdown is ahead.

#3 Major retailers are closing stores at the fastest pace that we have seen since the collapse of Lehman Brothers.

#4 According to the Bureau of Labor Statistics, 20 percent of all families in the United States do not have a single member that is employed.  That means that one out of every five families in the entire country is completely unemployed.

#5 There are 1.3 million fewer jobs in the U.S. economy than when the last recession began in December 2007.  Meanwhile, our population has continued to grow steadily since that time.

#6 According to a new report from the National Employment Law Project, the quality of the jobs that have been “created” since the end of the last recession does not match the quality of the jobs lost during the last recession…

§  Lower-wage industries constituted 22 percent of recession losses, but 44 percent of recovery growth.

§  Mid-wage industries constituted 37 percent of recession losses, but only 26 percent of recovery growth.

§  Higher-wage industries constituted 41 percent of recession losses, and 30 percent of recovery growth.

#7 After adjusting for inflation, men who work full-time in America today make less money than men who worked full-time in America 40 years ago.

Source: Michael Snyder is the Editor of The Economic Collapse Blog.

 

Tired of seeing your standard of living hijacked? Fight back!

 

If you would like to learn more about the US economy's phony foundations, how the whole mess will come crashing down, and what you can do right now to protect yourself, consider reading our NEW book…How to Survive the War on the Middle Class.

http://www.poormansurvival.com/Pages/WaronMiddleClass.aspx

 

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