MORE BAD NEWS FROM THE JOBS FRONT

Christian Patriots

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Image Credits: 44313045@N08, Flickr

The Bureau of Labor Statistics headline this morning reads: “Payroll employment increases by 248,000 in September; unemployment rate declines to 5.9%.”

How can this be? As I reported yesterday, US corporations are investing in buying back their own stocks, not in new business ventures that produce new jobs.http://www.paulcraigroberts.org/2014/10/02/poverty-report-contradicts-gdp-claims-paul-craig-roberts/

According to the Census Bureau’s Poverty Report, US real median family income has declined to the level of twenty years ago.http://www.census.gov/content/dam/Census/library/publications/2014/demo/p60-249.pdf

Consumer credit and real retail sales are not growing. Construction is limited to rental units. Construction shows 16,000 new jobs, half of which are “specialty trade contractors” or home remodelers.

The payroll jobs report lists 35,300 new jobs in retail trade. How is this possible when J.C. Penny’s, Macy’s, Sears, and the dollar store chains are in trouble and closing stores, and shopping centers are renting space by the day or hour?

At a time…

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