In The Past 7 Years America Added 17 Million People, And Zero Full-Time Jobs

Tyler Durden's picture

Submitted by Chris Hamilton via Hambone's Stuff blog

Amazing Math from the Bureau of Labor Statistics

According to the most recent Bureau of Labor Statistics release, the UE (unemployment) rate fell to 5.5% as of February.  The last time the UE rate was this low was May of 2008.

What I’m fascinated by is the fact that the US population grew from February 2008 to February 2015 by 16.8 million persons, or a 5.5% increase in total population, and on a net basis, not a single one of those 16.8 million persons got a FT (full time) job… while a net 2.7 million were lucky enough to get a (or multiple) PT (part time) job.

This means that 14.3 million persons, or 4.4% of the current US population, were added without a single job among them (chart below).  This makes for fascinating math when a 4.4% increase of the total US population without jobs can nearly halve the UE rate down to 5.5%, equal to 2008’s UE rates?!?

 

The recent BLS data are considered "strong employment reports" and are taken as such booming harbingers of economic accomplishment that the Federal Reserve feels rates need to begin their long awaited hikes.

Just to avoid some confusion on this 16.8 million population growth…this does not mean there was a baby boom over this period…quite the opposite as a flat birth rate has been offset by an even faster declining death rate (the baby boom and older generations are living much longer than previous generations…thus the pig through the python population growth).

And just to make sure this isn’t cherry picking data…below is non-seasonally adjusted raw data from the Bureau of Labor Statistics back to ’08 showing rising PT jobs and declining FT jobs.

 

To add perspective we back it up to ’00…and note that over the entire period the US created 7.6 million net new FT jobs and (4 million net PT jobs).  But not a single net FT job since prior to Feb ’08.

 

I’m pretty confident to say that the stagnant household income data is simply noting the loss of higher quality FT jobs with benefits being replaced with lower quality, lower hour, little to no benefits PT jobs.

I’m sure economists will try to explain away the above raw data as the demographic shifts of retiring baby boomers…but that old chestnut isn’t exactly supported by the data (below).  Population growth and jobs growth since ‘07 is clearly in the 55+ year old segment (+17 million population, +7 million employees) while the 25-54 year old working core is shrinking (-1 million population and even faster declines in employment of -5 million).

 

The chart below highlights the substitution of debt creation for the breakdown of jobs creation (and note the unwillingness to tax ourselves now versus willingness to indebt our future generations).

 

And below you can see the impact of the falling 25-54 year old segment from '07 onward…resulting in declining mortgage debt, oil consumption, and general economic activity...and the substitution of debt in place of growth.

 

So you decide, strong jobs data, out and out propaganda, or something in between!?!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
kliguy38's picture

it just occurred to me they may be lying to us

debtor of last resort's picture

Audit the FED, Fort Knox, AND the BLS. Oh, and Yellens gender.

Renfield's picture

Audit and END the Fed, Fort Knox, and the BLS. FIFY

(Yellen doesn't have a gender. It's a gnome grafted down here from somewhere in the vicinity of Uranus.)

Thirst Mutilator's picture

Unemployment dropped to 5.5%...

 

#WINNING

knukles's picture

Been particlulary low and dropping fast in the deep inner cities what with the birth/death adjustments around bonfire and riot time.

Headbanger's picture

17 million?

Does that mean it's easier to get laid?

johngaltfla's picture

Did Hambone finally count the 22 million illegals? If not, then his numbers are way too polly for me...

Bad Attitude's picture

I'm honestly surprised anybody believes any of the economic data produced by the government. It has become so transparently false, just like the other lies from the regime.

And, those 22 million legals are now referred to as "Americans-in-waiting" by the regime who will soon be showering them with tens of thousands of dollars in free money.

Forward (over the cliff)!

winchester's picture
winchester (not verified) Bad Attitude Mar 8, 2015 11:36 AM

before audit any pointless shit that will display you false documents, you'd better shoot monkey the 1st and make a revolution before your guns get confiscated.

kaiserhoff's picture

Good grief.  No NET full time jobs.

Thousands of full time jobs were lost - mostly productive sector.

Thousands of full time jobs were added  -  government and fellow travelers.

boogerbently's picture

So THAT'S why obama made the immigration executive order, to dilute the number of unemployed.

Ham-bone's picture

These #'s include all persons permenently living in the US...legally or illegally

Stuck on Zero's picture

The #s explain why half of all immigrants to the United States over the last fifteen years are on welfare.

Thirst Mutilator's picture

Depends on the answer to the age old question... What came first? The chicken or the egg?

Arnold's picture

You parents did do the birds and bees thing with you?

Sexual reproduction involves a spermazoa and an egg.

Evolved way before chickens, even before the Fed.

Your welcome.

I stayed at a Holiday Inn last night and hit the Easy Button and am Zero Hedge reader.

DeadFred's picture

Be careful there. Remember that most of those new 17 million are under the age of seven. Of course they don't have jobs, have you ever tried to get a six year old to do chores?

Ham-bone's picture

From the article above...

Just to avoid some confusion on this 16.8 million population growth…this does not mean there was a baby boom over this period…quite the opposite as a flat birth rate has been offset by an even faster declining death rate (the baby boom and older generations are living much longer than previous generations…thus the pig through the python population growth).

In other words, there are no more babies now than a decade ago...there are far more 55+ year olds as that is the segment of the population that is growing.

The Carbonator's picture

I am glad to see the birth rate flat.  In fact I know that the rate of marriage is going down year after year.

 

That is good news for men's rights.  The fastest way to destroy your life, is to get married, then the .gov sees you as an ATM...ripe for a divorce and financial ruination.

 

Stay single young man.  Stay FREE!

Hal n back's picture

here is another big problem;

 

our population growth rate which used to be around 3% is now under 1%--care to guess why economic growth is slow?

 

add to it that the growth in population is at lower end -socially, economically and education wise.

 

now the kids out of school who stil live at home--how is their family formation going?

 

we have too many problems to fix

 

 

 

 

winchester's picture
winchester (not verified) Hal n back Mar 8, 2015 11:40 AM

the difference between whites and monkeys... when  short on money, white do not fuck like animals to keep busy so do not suddenly have a tribe to raise in the home.

 

racist ? maybe, then what, that's reality, fuck you, blue pillers.

Government needs you to pay taxes's picture

Doesn't the EBT check get bigger for every incremental mouth?!?  It's almost as much moral hazard as giving a cop indefinite paid time off after killing a citizen.

HisNameIsRP's picture

Ur is your (stop texting me ur)

yogibear's picture

"Fort Knox,"

LOL, what gold. 

Doesn't matter because the US dollar is backed by the full faith of the military and nuclear arsenal.

The US will just print and monetize debt until the rest of the world demands better.

 

debtor of last resort's picture

In bartertown, faith is filth, yogibear.

Abitdodgie's picture

Well it could be wose we could be running out of slaves like Denmark and Japan.

DeadFinks's picture

Oh, we'll just import some more...

ShrNfr's picture

You will need a pigeon sexer to audit that.

newbie vampire's picture

Y'all leave Mr Janet Yellen's balls outta this.

Al Tinfoil's picture

It's all true. It's just "SEASONALLY ADJUSTED truth".

doctor10's picture

If they're just gonna make shit up-we the people oughta fire them

AgentScruffy's picture

"Some of them like to lie. Some of them like to be lied to." -- Annie Lennox, paraphrased.

rubiconsolutions's picture

Has someone looked at Hillary's mail server for the missing jobs?

Renfield's picture

The point isn't so much that BLS fakes its numbers. The point is the futility of believing ANY self-reporting - by government or anyone else, but especially by government. Because they also have power of decree enforcement, their 'statistics' should be treated as propaganda and assumed to be lies as a matter of course. ALL governments are 'China', especially those hosting a rothschild 'central bank'.

The way people hang on these government reports and their waste-of-time speeches, it's like they're listening to some kind of religious leader. No wonder these moron bureaucrats and criminal bankers think they're 'god'. I swear national governments have become monster churches, preaching by propaganda, enforcing their shifting 'morality' by decree. Without even any nifty bells & smells or the inspiring deities.

knukles's picture

Speaking to one of my buds the other day (He's catching on slowly, but getting there) and he was somewhat taken aback by the magnitude of Brian Williams' deceit.  Asked me if I was, at all.  Said what else does one expect from the MSM?  Or a governmental agency.  Hmmm?
Sad but true, apparently.

Now, how do I install that server here at home so that.....

Thirst Mutilator's picture

Here's a NOVEL idea... Let's 'audit':

 

- The FED

- Israel's nuclear arsenal

- The bricks of gold that are stashed under 'Rothschild Blvd' in TEL AVIV

 

on the same day!

 

WAIT! ~ Mine is a SINGULAR VOICE... Let's therefore 'VOTE' on it...

 

Note: For all you fuddy duddys out there, this is only THIRST MUTILATOR [the circus CLOWN], attempting to introduce COMEDY into your lives...

XqWretch's picture

BLS is the Joel Osteen of propaganda?

Government needs you to pay taxes's picture

And send in your check before the next ad break is over.  We'll send you your very own certificate of indulgence.

AgentScruffy's picture

We should at least get some funny hats out of the deal...

Arnold's picture

Mylar or tinfoil?

Galvanized steel with mesh, for up scale taste in fashion.

Your choise.

mattgallis's picture

Damn all those 14m babies who didn't get jobs!!

Creepy A. Cracker's picture

EBT babies, baby!!!

 

Dre4dwolf's picture

Obama is Jesus, he takes one job, and magically turns it into two . . . or more jobs.

If everyone just "shares" their job at a business that the "business owner didn't create" and signs up for "obama care that someone else will pay for" and gets an "obama phone" paid for by higher phone bills for everyone else, and if everyone uses the new "neutral internet" with high taxes and if everyone goes and takes out a "student loan" to go to school to study Marxism  . . . the country should be fine . . .  what could possibly go wrong?

 

Just get everyone on EBT, Food-Stamps, Snaps, Obama Phone, Welfare, Disability, Social Security, Assisted Housing, Low Income Energy Assistance , Temporary Assistance, Permanent Assistance, General Assistance to Indians, Medical General Assistance, Medicaid , "Healthy Start", Adoption Assistance, Abortion Assistance, Refugee Assistance, Homeless Assistance , and god - knows what else exists . . . and everything will be fine . . . just get everyone to sign up , why work?

 

Why beat around the bush, if we are just going to sell out the next generation completely , might as well just pack all the new borns into a crate and send them to china as future slave labor, half of America is aborted anyway . . . just ship all the unwanted babies to china, because thats who they will be working for regardless of where they live in the future anyway, America can be a net exporter of babies for Foxcon to use on production lines assembling terminators for the Chinese invasion.

Just like the Denmark commercial we should have a "Doit for America" campaign, be a sport will ya? send your unwanted child to this address for processing! and in return The U.S. Govt will send you 50k in the mail, its what your child would of been on the hook for anyway! so just doit! for America!

http://postimg.org/image/kamqzetov/

LooseLee's picture

Hey Man!You forgot the BIGGEST WELFARE QUEEN OF ALL---CORPORATE WELFARE---magnitudes greater that the welfare you lament. Look DEEPER...

Dre4dwolf's picture

If you train an entire population to be dependent.

You really have bigger problems than one guy pillaging everyones retirement.

Change/Growth starts from the bottom up.

90,000,000 ~100,000,000 unemployed people on benefits is a bigger problem than 20 or so families with an unlimited credit line backed by govt and central banks, I just wish the people that own this country actually gave a shit about it.

 

Ham-bone's picture

Under Bush II the taxes corporations paid as a percentage of their earnings fell well below the long term trend...and under Obama is at a post WWII low...half of what it was under Reagan and Clinton...and this is trillions of dollars being retained by corporations.  

The unfortunate thing about this is it has not created any net jobs among corporations since '00 in the US, nor has it translated to higher capex spending...however it has led to more stock buybacks and very nice pay structure for corporate leadership.

Check the link...

http://econimica.blogspot.com/2015/02/fundamentally-flawed-chapter-35-taxes.html

JuliaS's picture

War fill fix that problem in a jiffy.

Lumberjack's picture

Unfortunately, you may be right. I want my grand children to learn all they can, work hard and be respectful of others. I hope everyone else has the same philosophy. Enough is enough. 

JuliaS's picture

My gradparents fought in WW2. I used to attend victory parades with them back when one could gather enough veterans together and have a walk, while listening to their stories. Now those holidays the veterans are gone. Dead or confined to their beds. The holidays are just as pointless as Christmas. BBQ and fireworks and different colored ribbons. All bullshit!

The meaning - completely gone. The sense of appreciation for what we have and the memories of horror - all wiped clean. "Never again" replaced by "where to next".

The current and the next generations, I think, need their own reminder of what real war is, so they could value what they have a little better. I don't want war, but I see it as something inevitable.