Friday’s monthly jobs number was brutal, but the hurricane excuse was already built into the number. The bottom line is the numbers stunk and the 4.2% unemployment number is the biggest pile of nonsense ever assembled. Pundits are clamoring about wage growth, which has nowhere to go but up. Americans are essentially making less money than 20 years ago and benefits have shrunk to nothing because of Obamacare. There is no real hope of the supposed healthcare system changing anytime soon thanks to the crooks in Washington.
Here are the things being talked about concerning the jobs number: average hourly earnings increased by 0.5%, unaffected by hurricanes, September’s Household Survey saw a job gain of 906k, while unemployment fell to 4.2%. I say B. S. and that these numbers are meaningless until the middle-class starts to make more money. Economists see strength in the economy despite weak jobs numbers, as they were prepared for a weak jobs number in September, and they ended up getting more than what they bargained for. Economists are as clueless as they have always been, and this time is not different.
Jobs have been brutal for years, the fact that the economists and the government continue to hide the real facts is typical and should be no surprise. Until workers start to get a reasonable wage and there is real growth, the jobs number will be garbage and nothing more than the imagination of the FED. Companies are not hiring, there is no Cap X spending and the only jobs available for the average American are minimum wage jobs.
The big problem and misconception about jobs is that there are many available jobs, yet the people that need jobs are not qualified for the jobs are available. The tech revolution has shut out machinists, industrial workers, and manufacturers. This problem will not be resolved until we see real growth and an effort to bring some manufacturing jobs to this country. Until there is growth, Cap X spending and real affordable healthcare jobs are going to suck.