Mish drinks the unemployment koolaid

Just phonin' it in these days.

CNBC drinks the unemployment koolaid

If we had employment at the pre-recession percentage of population, we'd have 7.3 million more working in May 2018 than we do have

162.7 million employed at 63.2% instead of the 155.4 million actual at 60.4% in May 2018

Like unemployment generally, black unemployment is so low because near record numbers of them aren't in the labor force

And presto! Down comes the unemployment rate when you stop counting them.

It's a numbers racket for blacks no different than for everyone else.

A jobs recovery to the trend line suggests we have a jobs gap of about 5 million in April 2018

The chart shows the trend line for the percent of the population employed in Aprils since 1948. Recovery to this trend line in April 2018 would mean about 62.3% employed instead of 60.3%, implying a jobs gap of about 5.1 million.

Miles to go before he sleeps, and promises to keep . . ..

Maybe dropouts from the labor force were a cause of the Great Recession rather than a result

The high rate of dropping out of the labor force we've become accustomed to since the Great Recession actually predates it by a decade, suggesting that dropping out may be a cause of the Great Recession rather than a result of it. Continued slow growth of GDP since the Great Recession can also be explained by the absence of these inputs.

In a 2014 poll, 9.7% admitted to coming to work after smoking marijuana, which would have been 14.2 million Americans high at work at the time

Civilian employment averaged 146.3 million in 2014.

The story is here.

What labor shortage? We have 1 million more people 20 to 24 years old than we did in 1979, but 400,000 fewer counted in the labor force and 20,000 fewer actually working

What labor shortage? We have 800,000 more people 25 to 54 years old than we did 10 years ago, 830,000 fewer counted in the labor force, and 45,000 fewer actually working

What labor shortage? We have MORE teens in 2018 than in 1978, but 3.5 million fewer are counted in the labor force and 2.7 million fewer WORK

Total unemployment looks headed for a new cyclical low in 2018 similar to the year 2000

The year 2000 was also noteworthy for peak S&P 500, in August on a monthly average basis. The same may obtain for 2018. The market's average level in January already may have established the top for this cycle.

If we really had full employment in America, we wouldn't be missing 7.6 million working

The difference between 63.2% working before 2009 and 60.2% working in March 2018 is 7.6 million.

Immigration raid sends shockwaves through packing industry happy to hire people from shit-hole countries

Neil Munro reports for Breitbart, here:

The raid is sending shock-waves through the meatpacking industry which is being caught between marketplace pressure to keep costs low and the federal laws barring the employment of cheap foreign migrants.... For many years, the industry has relied on a mix of immigrants, illegal migrants and legal refugees from Syria, Somalia, and other unfortunate countries. The resulting marketplace pressure is pressuring reluctant meatpackers to raise their salaries. ...

Four million Americans turn 18 each year and begin looking for good jobs in the free market.

But the federal government inflates the supply of new labor by annually accepting roughly 1.1 million new legal immigrants, by providing work-permits to roughly 3 million resident foreigners, and by doing little to block the employment of roughly 8 million illegal immigrants.

The Washington-imposed economic policy of economic growth via mass-immigration floods the market with foreign labor, spikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by blue-collar and white-collar employees. It also drives up real estate prices, widens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million marginalized Americans and their families, including many who are now struggling with opioid addictions.

The broadest measures of unemployment in February 2018 have fallen below the average before the Great Recession

How about no VOTE under 21, and no car, no job, no credit card and no COLLEGE LOANS either?

Grow up already you bunch of babies.

Employment in January 2018 still lags the pre-recession high by 4.8 million on a percentage of population basis

Unemployment in January 2018 is now lower than the immediate pre-recession low

It's too bad nobody cared for ten years about white employment, which didn't recover until 2017