Bureau of Labor Statistics

Once again, what appears to be good news from the Bureau of Labor Statistics (BLS) does not hold up under scrutiny.

According to the BLS, “Total nonfarm payroll employment rose by 217,000 in May, and the unemployment rate held at 6.3 percent. Employment increased in professional and business services, health care and social assistance, food services, and transportation and warehousing.” Much has been made of the fact that the number of jobs now equals that which existed before the recession hit. A more thorough examination reveals a sharply different picture.

An analysis by Rep. David Camp, notes that “seven out of eight new employees under President Obama have been part-time employees.”

The Economic Policy Institute ntes that “young college graduates face an unemployment rate of 8.5%, compared with 5.5% in 2007, and an underemployment rate of 16.8%, compared with 9.6% in 2007.” Many of those grads who are working are in positions that don’t require degrees.
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2013 saw a record high number of U.S. workers on disability. The number of long-term unemployed continues to be an unresolved crisis. These displaced workers count for 37.7% of all unemployed.

The labor force participation rate continues to drop precipitously. In the past year alone, it has dwindled from 63.4% to 62.8%, a 36 year low.

The replacement of quality, career-level positions with part-time jobs may appear statistically equal, but the reality is far different. Statistics which ignore the labor force participation rate and the quality of positions available are not an effective barometer of the true employment outlook.

Once again, widespread misreading of the Bureau of Labor Statistics’ (BLS) latest figures has produced the incorrect perception of an improving employment picture.

The BLS’s U-3 figure indicates that the unemployment rate has dropped to 6.3%, indicating a one year decline of about 1.2%. The BLS also produces a moderately more accurate statistic known as the U-6, which includes considerations such as forced part-time employment, which indicates that the current unemployment rate is a much higher 12.6%. Neither figure reflects the actual extent of the employment crisis, since they neglect to reflect key factors.

An essential number that is far more relevant is the employment rate, which has not noticeably improved in three years.

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The employment-population ratio remained at a dismal 58.6%, down from approximately 61% in June 2009. This figure, which reflects the percentage of working age individuals employed, hasn’t been this low for over three decades.

Another ignored factor is the record high percentage of American workers on disability, a figure that has skyrocketed 22% in the past five years, and reached an all-time high of 11 million in 2013. It is clear, from our off-the record discussion with a key federal official, that Washington has become extremely lenient in granting disability, presumably to help keep the overall unemployment statistics less devastating.

Quick Analysis

Election Day is Only the Beginning, Part 2

There is a stark contrast in foreign affairs between the Biden-Harris record of a disastrous withdrawal from Afghanistan, the Putin invasion of Ukraine, China’s assault on the Philippine exclusive economic zone, and the widening Middle East catastrophe. The Trump White House archives provides a lengthy list of foreign policy results. “President Trump restored American sovereignty at home and American leadership abroad, partnering with strong and responsible nations to promote security, prosperity, and peace. Instead of sending American troops to fight in endless wars or giving cash to terrorists in countries like Iran, the United States under President Trump used bold, creative diplomacy to secure peace deals with our allies across the world. With the same “peace through strength” foreign policy that President Reagan once used to win the Cold War, President Trump rebuilt American deterrence power to hold our adversaries accountable. Perhaps most important, the Trump Administration reversed Washington’s decades-long, bipartisan refusal to confront China over its unfair trade practices, intellectual property theft, and more. Specifically, the Trump Administration: “Secured a $400 billion increase in defense spending from NATO allies by 2024, as the number of members meeting their minimum financial obligations more than doubled Credited by Secretary General Jens Stoltenberg for strengthening NATO Worked to reform and streamline the United Nations and reduced spending by $1.3 billion Allies, including Japan and the Republic of Korea, committed to increase burden-sharing Protected our Second Amendment rights by announcing that the United States will never ratify the UN Arms Trade Treaty Returned 56 hostages and detainees from more than 24 countries Worked to advance a free and open Indo-Pacific region, promoting new investments and expanding American partnerships Advanced peace through strength Withdrew from the one-sided Iran Nuclear Deal and imposed crippling sanctions on the Iranian regime Conducted vigorous enforcement on all sanctions to bring Iran’s oil exports to zero and deny the regime its principal source of revenue First president to meet with a leader of North Korea and the first sitting president to cross the demilitarized zone into North Korea Maintained a maximum pressure campaign and enforced tough sanctions on North Korea while negotiating denuclearization, the release of American hostages, and the return of the remains of American heroes Brokered economic normalization between Serbia and Kosovo, bolstering peace in the Balkans Signed the Hong Kong Autonomy Act and ended the United States’ preferential treatment with Hong Kong to hold China accountable for its infringement on the autonomy of Hong Kong Led allied efforts to defeat the Chinese Communist Party’s efforts to control the international telecommunications system Recognized Jerusalem as the true capital of Israel and quickly moved the American Embassy in Israel to Jerusalem Acknowledged Israel’s sovereignty over the Golan Heights and declared that Israeli settlements in the West Bank are not inconsistent with international law Removed the United States from the United Nations Human Rights Council due to the group’s blatant anti-Israel bias Brokered historic peace agreements between Israel and Arab-Muslim countries, including the United Arab Emirates, the Kingdom of Bahrain, and Sudan Brokered a deal for Kosovo to normalize ties and establish diplomatic relations with Israel Announced that Serbia would move its embassy in Israel to Jerusalem First American president to address an assembly of leaders from more than 50 Muslim nations, reaching an agreement to fight terrorism in all its forms Established the Etidal Center to combat terrorism in the Middle East in conjunction with the Saudi Arabian government Announced the Vision for Peace Political Plan—a two-state solution that resolves the risks of Palestinian statehood to Israel’s security, marking the first time Israel has agreed to a map and a Palestinian state Released an economic plan to empower the Palestinian people and enhance Palestinian governance through historic private investment Reversed the previous administration’s Cuba policy, canceling the sellout deal with the Communist Castro dictatorship Pledged not to lift sanctions until all political prisoners are freed, freedoms of assembly and expression are respected, all political parties are legalized, and free elections are scheduled Enacted a new policy aimed at preventing American dollars from funding the Cuban regime, including stricter travel restrictions and restrictions on the importation of Cuban alcohol and tobacco Implemented a cap on remittances to Cuba Enabled Americans to file lawsuits against persons and entities that traffic in property confiscated by the Cuban regime First world leader to recognize Juan Guaido as the Interim President of Venezuela and led a diplomatic coalition against the Socialist Dictator of Venezuela, Nicolas Maduro Blocked all property of the Venezuelan government in the jurisdiction of the United States Cut off the financial resources of the Maduro regime and sanctioned key sectors of the Venezuelan economy exploited by the regime Brought criminal charges against Nicolas Maduro for his narco-terrorism Imposed stiff sanctions on the Ortega regime in Nicaragua Photo: Trump site