10 Uncomfortable Truths About The Growing Unemployment Crisis In America

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

Did you know that there are more than 102 million working age Americans that do not have a job?  Yes, I know that number sounds absolutely crazy, but it is true.  Right now, there are more than 11 million Americans that are considered to be "officially unemployed", and there are more than 91 million Americans that are not employed and that are considered to be "not in the labor force".  When you add those two numbers together, the total is more than 102 million.  Overall, the number of working age Americans that do not have a job has increased by about 27 million since the year 2000. 

But aren't things getting better?  After all, the mainstream media is full of headlines about how "good" the jobs numbers for October were.  Sadly, the truth is that the mainstream media is not being straight with the American people.  As you will see below, we are in the midst of a long-term unemployment crisis in America, and things got even worse last month.

In this day and age, it is absolutely imperative that people start thinking for themselves.  Just because the media tells you that something is true does not mean that it actually is.  If unemployment was actually going down, the percentage of the working age population that has a job should actually be going up.  As you are about to see, that is simply not the case.  The following are 10 facts about the growing unemployment crisis in America that will blow your mind...

#1 The percentage of working age Americans with a job fell to 58.3 percent in October.  The lowest that number has been at any point since the year 2000 is 58.2 percent.  In other words, there has been absolutely no "jobs recovery".  During the last recession, the civilian employment-population ratio dropped from about 63 percent to below 59 percent and it has stayed there for 50 months in a row.  Will the percentage of working age Americans with a job soon drop below the 58 percent mark?...

Employment-Population Ratio November 2013

#2 The U.S. economy lost 623,000 full-time jobs last month.  But we are being told to believe that the economy is actually getting "better".

#3 The number of American women with a job fell by 357,000 during the month of October.

#4 The average duration of unemployment in October 2013 was nearly three times as long as it was in October 2000.

#5 The number of Americans "not in the labor force" increased by an astounding 932,000 during October.  In other words, the Obama administration would have us believe that nearly a million people "disappeared" from the U.S. labor force in a single month.

#6 The number of Americans "not in the labor force" has grown by more than 11 million since Barack Obama first entered the White House.

#7 In October, the U.S. labor force participation rate fell from 63.2 percent to 62.8 percent.  It is now the lowest that it has been since 1978.  Below is a chart which shows how the labor force participation rate has been steadily declining since the year 2000.  How can the economy be "healthy" if the percentage of Americans that are participating in the labor force is continually declining?...

Labor Force Participation Rate

#8 If the labor force participation rate was still at the same level it was at when Barack Obama was elected in 2008, the official unemployment rate would be about 11 percent right now.

#9 Even if you are working, that does not mean that you are able to take care of yourself and your family without any help.  In fact, approximately one out of every four part-time workers in America is living below the poverty line.

#10 In January 2000, there were 75 million working age Americans that did not have a job.  Today, there are 102 million working age Americans that do not have a job.

So what are our politicians doing to fix this?

Shouldn't they be working night and day to solve this crisis?

After all, Barack Obama once made the following promise to the American people...

"But I want you all to know, I will not rest until anybody who's looking for a job can find one -- and I'm not talking about just any job, but good jobs that give every American decent wages and decent benefits and a fair shot at the American Dream."

Unfortunately, things have not improved since Obama made that promise, but he has found the time to play 150 rounds of golf since he has been president.

Meanwhile, because there aren't enough jobs, the number of Americans living in poverty continues to grow.

As I wrote about the other day, according to new numbers that were just released an all-time high 49.7 million Americans are living in poverty.

And right now 1.2 million public school students in the United States are homeless.  For many more statistics like this, please see my previous article entitled "29 Incredible Facts Which Prove That Poverty In America Is Absolutely Exploding".

The only thing that most Americans have to offer in the marketplace is their labor.  If they can't find a job, they don't have any other way to take care of themselves and their families.

The future of the middle class in America depends upon the creation of good jobs.  It really doesn't matter how far the quantitative easing that the Federal Reserve has been doing pumps up the current stock market bubble.  The American people were told that "economic stimulus" was the reason for doing all of this reckless money printing, but the percentage of working age Americans with a job is now actually lower than it was four years ago.  Quantitative easing has been a complete and total failure in the job creation department, and it is doing a tremendous amount of long-term damage to our financial system.

The really frightening thing is that the Federal Reserve and the federal government have supposedly been doing all they can to try to "create jobs" and they have utterly failed.  In fact, this is the first time in the post-World War II era that we have not seen an employment recovery following a recession.

And now the next wave of the economic collapse is rapidly approaching.  What that hits us, millions more Americans will lose their jobs.

So the truth is that this is just the beginning of the unemployment crisis in America.

Yes, things are bad now, but soon they will get much worse.

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Mon, 11/11/2013 - 21:37 | 4144325 Ms. Erable
Ms. Erable's picture

Laser-like focus on jobs, bitchez.

Mon, 11/11/2013 - 21:42 | 4144343 Dear Infinity
Dear Infinity's picture

what will we do when all the jobs are displaced by autonomous service industry robots? the future looks bleak for middle america... luckily the silver and gold in those robots isn't free

Mon, 11/11/2013 - 21:47 | 4144350 DoChenRollingBearing
DoChenRollingBearing's picture

I am 57, and I don't know if I could get a decent job if I looked...  So, I am not looking.  I'll just help my in-laws buy bearings.

Mon, 11/11/2013 - 21:59 | 4144415 Jack Burton
Jack Burton's picture

I doubt that anyone over 40 would have much luck, unless one had a very particular skill set that was in peak demand. As you go through life, and we all age, the older you get the more business considers you worthless as can be. Every year makes you more worthless. From reading some ZH posts as of late, there are elements now who openly want people to die before they can collect their first SS check, so more money will be available for wars and spies. Age is a bitch! And nobody can escape it, but to check out early.

Mon, 11/11/2013 - 22:14 | 4144479 JohnnyBriefcase
JohnnyBriefcase's picture

unless one had a very particular skill set

 

You're talking about Liam Neeson, aren't you?

Tue, 11/12/2013 - 06:11 | 4145274 Truthseeker2
Truthseeker2's picture

USA In The Throes Of A Paralyzing Economic Recession

.

"The government has failed woefully in advancing those initiatives which would give a fishing pole to the jobless and unemployed. Instead, they give away fish without formulating any coherent job formation policy or genuine economic recovery programs."

http://stateofthenation2012.com/?p=2477


Tue, 11/12/2013 - 07:13 | 4145306 jbvtme
jbvtme's picture

we think like servants. we act like sheep. we have run out of masters to tell us what to do. it is not the lack of jobs which makes slaves of us, but the lack of imagination and will. i'm long cow bells and grain buckets.

Tue, 11/12/2013 - 07:14 | 4145305 jbvtme
jbvtme's picture

ribbit

Tue, 11/12/2013 - 14:09 | 4146546 ronaldawg
ronaldawg's picture

The statistics regularly regurgitated on this site indicate the jobs are being taken by the 50-65 age range NOT 18-24.  The only growth has been in the employment stats for the 50-65 year olds.

I wish the doom and gloom articles would be more consistent.

Mon, 11/11/2013 - 22:15 | 4144481 Bobbyrib
Bobbyrib's picture

It's funny to see these corporations put their faith in the Millenials, an arrogant generation of know nothings. It's just another reason why the economy will be absolutely fucked within five years.

Mon, 11/11/2013 - 22:30 | 4144539 Skateboarder
Skateboarder's picture

The Millennial arrogance is a strong one, founded in the ease and abundance of information obtainable, especially after the Web was popularized.

Their fundamentals are weak and they only have a superficial understanding of everything. As an old signals/systems professor I had would say, "they don't make engineers these days like they used to..."

Mon, 11/11/2013 - 23:00 | 4144641 NoDebt
NoDebt's picture

Millenials.... good luck to them.  They live in their partents' basements, believing someday they will inherit the upstairs when mom and dad kick off.  Joke will be on them when they find mom and dad spent all their meager savings and took out a reverse mortgage on the house to fund their last 7 years on the planet.  

If you're a sociopathic politician or banker this must be like being a kid in a candy store.  So many stupid people to fleece, so little time.

 

Mon, 11/11/2013 - 23:48 | 4144749 BoNeSxxx
BoNeSxxx's picture

My grandmother was a little girl during the great depression.  She has fond memories of those times.

When I asked her how that was possible, she said, 'we had a farm, a milk cow, chickens, and a garden.  We never got fancy presents for our birthdays but we never went hungry either.'

Plan accordingly.

Of course she didn't mention anything about jack-booted DHS thugs or drones... Or throngs of the encroaching Free-Shit-Army... 

Shit, we really are screwed.

Mon, 11/11/2013 - 23:32 | 4144747 Pairadimes
Pairadimes's picture

America's two fastest growing industries, per federal policy:

 

1. Moral hazard

2. Leisure time for working age adults

Tue, 11/12/2013 - 00:09 | 4144844 Bro of the Sorr...
Bro of the Sorrowful Figure's picture

the "gimme gimme" generation is too busy playing video games, sending dick picks, and living off of their parents to have any inkling of what is coming. alas, before i heard ron paul for the first time in 2008 i was very much one of those useful-less idiots.

Tue, 11/12/2013 - 00:48 | 4144935 JohnnyBriefcase
JohnnyBriefcase's picture

Uh every generation since the greatest generation has been "gimme gimme".

Some of those fuckers were probably "gimme gimme" too.

Tue, 11/12/2013 - 01:00 | 4144950 Skateboarder
Skateboarder's picture

If we see further, it's on the shoulders of some "gimme gimme" mothafuckas?

Tue, 11/12/2013 - 01:04 | 4144962 JohnnyBriefcase
JohnnyBriefcase's picture

Human nature is pretty much gimme gimme with a few exceptions.

Tue, 11/12/2013 - 01:24 | 4144997 Skateboarder
Skateboarder's picture

As fellow ZHer Ranger#### posted about the 'good people' discovering new shit and doing shit for everyone... that's the only reason this species progresses. As long as there are there those people, there will always be progress for the better.

Most people just want to chill and hang out and shit. Gathering knowledge takes a shitload of time, and developing wisdom takes even longer!

Ever since some asshole realized he could leverage the shit out of someone else's talent and motivation, so began the vicious cycle of predator/prey within the species.

Tue, 11/12/2013 - 14:41 | 4146696 ronaldawg
ronaldawg's picture

DING DING DING we have a winner.

Predator/prey is the natural order - if you don't evolve you lose. 

Tue, 11/12/2013 - 01:12 | 4144976 Bro of the Sorr...
Bro of the Sorrowful Figure's picture

yes, but each subsequent generation exceeds the shittiness of its predecessor, making millennials the worst so far.

Tue, 11/12/2013 - 03:22 | 4145160 Freddie
Freddie's picture

It is the same corporations who gave us Obama and the same Millenials who (largely) voted for him.   They got what they deserved. 

Tue, 11/12/2013 - 06:20 | 4145280 new game
new game's picture

i am 57 and have been looking for 3+ years and i can say there isn't shit in minnesnota. jobs go to 20 something peoples.

got close on one though! luckily i had a 20 year career selling new homes. i'm good but not farting in silk. things could be a lot worse. contemplating texas as a way to minimize the cost of living and more chance of a half way challenging job with pay over 10/hr. both properties have been sold into the echo bubble. free to roam. i hear the bread lines are shorter in tx:)

that is reallity folks...

Tue, 11/12/2013 - 07:21 | 4145312 jbvtme
jbvtme's picture

i'd show minnesota tail lights before the glaciers get you. that place has tundra written all over it...

Tue, 11/12/2013 - 02:29 | 4145083 Diogenes
Diogenes's picture

"I doubt that anyone over 40 would have much luck, unless one had a very particular skill set that was in peak demand. As you go through life, and we all age, the older you get the more business considers you worthless as can be. Every year makes you more worthless. From reading some ZH posts as of late, there are elements now who openly want people to die before they can collect their first SS check, so more money will be available for wars and spies. Age is a bitch! And nobody can escape it, but to check out early."

According to the figures employment demand is strongest for the 50 and over age group and lowest for those under 24.

Seriously. If you were looking for an employee, and had a choice between a 60 year old who hadn't missed a day's work since the Reagan administration and a 20 year old with purple hair, a snot ring and an Iphone which would you chose.

Tue, 11/12/2013 - 04:33 | 4145212 Parrotile
Parrotile's picture

There's hope for us "pending geriatrics" yet then! Maybe it'll be time for a whole new career too!

(Once I've had the major rebuild - which will hopefully be before major antibiotic resistance makes joint surgery too high a risk!)

Tue, 11/12/2013 - 14:17 | 4146557 ronaldawg
ronaldawg's picture

Diogenes - Thanks - someone who actually reads the articles on the site.

Obviously if you are over 50 and have no skills you are fucked.  I've spent my entire life working on my skills.  I believe that an individual never stops learning and improving your situation.   Evolve with the times.

To those over 50 that can't find a job, WHAT HAVE YOU BEEN DOING IN THE PAST 30 years?  Mostly likely getting fat and lazy I presume. 

I personnally don't have time for that.

 

Tue, 11/12/2013 - 11:29 | 4145933 therearetoomany...
therearetoomanyidiots's picture

I'm not buying what you're selling.   I can't even get a call with 15 years of experience as a technical project manager.  Further, I limit my resume to only show the last 12 or so years of work.   As some of the others have noted, I'm not willing to bust my ass they way I did when I was 30-40 only because I know these fucks in corporate just ont give a shit about their people.    The theory has been, since the late 80s, that it's a whole bunch cheaper to deal with a bunch of young know nothings out of school, eat the costs, if any, of the mistakes they made rather than to keep paying a more experienced worker, benefits, pensions, and especially vacation time.

I am a great employee for the right people, people who care.  And unfortunately, the place I found and was happy at for 5 years went under when this ass reaming happened in 08.  

The only demand for older folks is in legacy systems in corporations.   People that know cobol and older languages or are familiar with the set up of large scale systems.   IMO

 

Edit: and apparently as cashiers at grocery stores and greeters at walmart.  Fuck, I saw a mentally challenged guy in Home Depot working as a greeter.   They didn't even call me.  

Tue, 11/12/2013 - 14:21 | 4146578 ronaldawg
ronaldawg's picture

I'm not willing to bust my ass they way I did when I was 30-40 only because I know these fucks in corporate just ont give a shit about their people....

Yeah - I would hire you NOT.  With that attitude you are not qualified as a greeter at Walmart.

P.S.  You state that "rather than to keep paying a more experienced worker, benefits, pensions, and especially vacation time."  Wow - so you've priced yourself out of the market too.... WINNER!

Mon, 11/11/2013 - 22:33 | 4144550 Miss anthrope
Miss anthrope's picture

PLEASE NO ONE HERE BELIEVE DCRB!!!!  hahaha.... that's right just keep helping the in-laws there DCRB.... and living in their basement too. 

 

LOL

 

Mon, 11/11/2013 - 22:47 | 4144593 Skateboarder
Skateboarder's picture

Are you in your 50s? If so, have you looked for a job?

Don't be so quick to judge, fool. BigCorp does not want to take the old'uns in their respective fields. sploogle massively age discriminates, seeking to milk the shit out of 20-30 year olds.

Mon, 11/11/2013 - 23:02 | 4144653 DCFusor
DCFusor's picture

No, I'm in my 60's and can't find one, not that I'm bothering to look.  They age-discriminate because older people are a little less sheepy and actually expect to get paid proportional to the value they create.  No one hires someone older than they are anyway, as age seems to confer some authority, rightly or wrongly (well, at least you didn't darwin out by now), and the guy hiring wants to keep all that for himself.

And anyway, I'm overqualified for anything other than running another startup, but too old to have the energy it takes to do that well.  That's why I retired 15 years ago after the last one (at age 45).

Tue, 11/12/2013 - 03:16 | 4145155 Skateboarder
Skateboarder's picture

An old professor friend of mine told me in '10ish about how his 50-sumthin-year-old math PhD friend of his applied for big bro googs and the first time they denied his application, and the second time they accepted his application, processed it for a while, and then denied it, and the third time they outright rejected it.

i mean, if I were that fool I would be looking for way chiller jobs than trying to compete for that kind of horse manure, but since age discrimnation is quite real and is the subject of my story, I lament for those who get harassed in older age in whatever manner.

Wed, 11/13/2013 - 03:03 | 4149034 SilverRhino
SilverRhino's picture

Seems to me there is one job category where they will hire older guys.   Consultants.   Management is not threatened by having the older advisor mainly because they know you are going to go away.  

 

Mon, 11/11/2013 - 23:07 | 4144667 DanDaley
DanDaley's picture

DCRB, I was kind of hoping I could get a job working for you in Peru...I could use some ceviche.

Mon, 11/11/2013 - 22:16 | 4144489 Things that go bump
Things that go bump's picture

Up until the '30s horses and mules were ubiquitous, They were the power that pulled the plows and threshers until the tractor came into wide use and put them out of business. There was a precipitous drop in their population right about that time. Useless eaters, you know. 

Mon, 11/11/2013 - 22:51 | 4144609 Carl Popper
Carl Popper's picture

Horses cant cook a meal cut your grass or watch your kids. There is plenty of demand for servants. The bottom 20 percent can be house servants to the top 50 percent like in south america, right Dochen?

Now come over here and wipe my ass. I am too fat to reach.

Mon, 11/11/2013 - 23:35 | 4144756 Things that go bump
Things that go bump's picture

What are we going to do with the other 30%? Skilled craftsmen?

Tue, 11/12/2013 - 00:51 | 4144940 Keyser
Keyser's picture

Soylent green. 

Mon, 11/11/2013 - 21:43 | 4144348 ShrNfr
ShrNfr's picture

Laser-like focus on the pin on the third green more likely.

Mon, 11/11/2013 - 21:45 | 4144357 brewing
brewing's picture

shovel ready...

Mon, 11/11/2013 - 22:26 | 4144515 rbg81
rbg81's picture

Kurt Vonnegut predicted this almost perfectly in his 1953 novel "Player Piano".  Basically, there will be an elite of managers & engineers who run the automated factories and, of course, a political class.  There is also a very small class of people whose jobs can't be automated (barbers, plumbers, etc).   Just about everyone else (the other 90%) is either in the Police, Military or the Reeks & Wrecks (construction and road work).  Great book!

Tue, 11/12/2013 - 01:03 | 4144961 U4 eee aaa
U4 eee aaa's picture

I remember reading that 20+ years ago when I was still getting my political mindset shaped. Changed me. I've been ready for this mess for a while

Tue, 11/12/2013 - 03:09 | 4145143 Freddie
Freddie's picture

I wish I had read it.  We had to read Heather's Two Mommies.    One of Heather's mommies liked bearded clams.

Tue, 11/12/2013 - 06:38 | 4145289 Marge N Call
Marge N Call's picture

HA!!! THat made me spit out my coffee!! Too early for hairy oyster jokes!!

Tue, 11/12/2013 - 14:34 | 4146640 U4 eee aaa
U4 eee aaa's picture

Well, it wasn't my teachers that gave it to me. I stumbled across it somewhere on my 'journey'. Had I relied on my teachers, I probably would have been stuck with the previous generation's version of 'mommies' (that wasn't quite in the schools yet). Although, to their credit, they did get us to read Animal Farm, but back then the government wanted us to be sure we knew that the 'commies' were the bad guys (I notice they didn't have us read 1984)

By the time I happened upon Vonnegut, I had already figured out there was something not quite right about the narrative that everyone around me wanted to swallow (this was before the internet when we had 12 channels on TV - all spouting the same corporate message - and one tiny conservative radio station out of dozens on the mass media controlled airwaves) so I was hungry for some truth telling. My mind sucked up what Vonnegut was writing like a sponge. I'm not sure that was good for me, ;) but at least it got me thinking. It also gave me perspective

Tue, 11/12/2013 - 02:07 | 4145062 James-Morrison
James-Morrison's picture

The ending was particularly poignant: a small band of revolutionaries stage a revolt that was successful up to a point. The lack of coordination between the national factions prevented success except for a small group who turn themselves in after realizing the FSA really didn't want to achieve anything more meaningful than to vent their dissatisfaction.

After the coup, everything returned back to how it was.

Vonnegut points out the problem but ends on a hopeless note.

Tue, 11/12/2013 - 02:31 | 4145094 Diogenes
Diogenes's picture

Wouldn't it be great if things had turned out that good?

Tue, 11/12/2013 - 11:14 | 4145891 therearetoomany...
therearetoomanyidiots's picture

As in digging a grave for the 'old America'?

Mon, 11/11/2013 - 22:53 | 4144616 drendebe10
drendebe10's picture

What else would u expect from suc a narcissistic,  pathological lying kenyan monkeyboy.  

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