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Everything you need to know about the July jobs report in one chart

Everything you need to know about the July jobs report in one chart

Hopelessness.

https://twitter.com/bencasselman/status/629632454060584960

There were no surprises in the July 2015 jobs report:

Here is how to think about the July jobs numbers that the government released Friday morning: Whatever you thought about the economy, or financial markets or the proper course of Federal Reserve policy at 8:29 a.m., just before the numbers were released, you have every reason to have also believed it at 8:31 a.m., just after.

Employers added 215,000 jobs last month, but the average over the last six months is 213,000. The unemployment rate was 5.3 percent, but that was the same as in June. The proportion of the population working was unchanged, as was the proportion of Americans in the labor force. And average hourly earnings rose 0.2 percent, exactly what forecasters had expected.

But the dominant theme of the Obama economy is that people continue to drop out of the workforce.

Hope is lost.

Featured Image Chart via @BenCasselman

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As we roar up to “Recovery Fall VI”, the Obamic Decline continues to deliver EXACTLY what those of us who have an understanding of economics and business have predicted all along…

the policies of this regime have stomped all the life out of our economy. ObamaDoggle is a job killer. The Uncertainty Generator that is Obamic policy is a business formation/expansion killer is Planned Abortionhood for the US economy.

It cannot be otherwise.

    Skookum in reply to Ragspierre. | August 7, 2015 at 1:23 pm

    And, the US stock market continues to rise on the strength of:

    – Obamacare having transferred those pesky health care liabilities from business to the taxpayers;

    – Liberalized immigration, illegal and legal, has kept wage liabilities down; and,

    – The coming trade boom with Iran.

      gibbie in reply to Skookum. | August 7, 2015 at 6:34 pm

      Perhaps you haven’t looked lately, but the stock market has been going down.

      The reason the stock market had been going up is that since interest rates were essentially zero, there was nowhere else for investment money to go. As soon as the interest rates start to go up, the stock market will wither.

        Ragspierre in reply to gibbie. | August 7, 2015 at 8:06 pm

        PLUS, almost without a word in the Mushroom Media, Pres. ScamWOW has been re-inflating the housing bubble.

        What could go wrong…???

      SDN in reply to Skookum. | August 8, 2015 at 12:09 am

      Let’s not forget the actual inflation from QE.

    DaveGinOly in reply to Ragspierre. | August 7, 2015 at 8:08 pm

    Fundamentally transforming America. Is anyone surprised? As the Joker said, “It’s all part of the plan.”

Not A Member of Any Organized Political | August 7, 2015 at 11:45 am

Multiple that “official” Pravda unemployment rate by 4 or 5 an you’ll be closer to the true unemployment rate.

“…Total Compensation and the Obamacare Effect”

“Obamacare Effect

Total compensation fell from 2.57% to 1.98%, larger than the decline in wages and salaries. I believe we all know the answer to this one: Obamacare.

Employers are passing on the increased costs of Obamacare to employees….

Read more at http://globaleconomicanalysis.blogspot.com/2015/08/wage-growth-accelerating-by-how-much.html#WJvUARoykIXWJcHL.99

    Not A Member of Any Organized Political in reply to Not A Member of Any Organized Political. | August 7, 2015 at 11:52 am

    Be sure to read the comments there. Sample below.

    “RagnarDanneskjold • 4 days ago

    Between premiums and the deductibles, I have to budget 25% of pre-tax income for healthcare under Obamacare. Insurance pays about 15% of any bills. I got a cheap plan, but if I picked a more expensive plan, my monthly premiums go up more than I can save on the deductible, so potential total cost would go even higher. It’s a giant tax, as anyone with half a brain knew it was. Everyone who voted for it or supported it should burn for eternity in the 8th Circle of Hell.

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    Old Guy RagnarDanneskjold • 4 days ago

    Ragnar therein lies the real screwing you and I take. Healthcare sucks out every bit of disposable income for many people and they are trying to save for these sky high deductibles. Affordable healthcare my you know what!
    Not one of my employees get paid minimum wage, but several now want less hours. I finally had to put out a letter stating they must work or we will let them go. I cannot function with all part timers. What a goat rope these days it is to employ people. They want higher wages but now they are losing some handouts and now they want less hours, just as I predicted over a year ago. Funny how the pundits that never owned a business do not get it.

Not A Member of Any Organized Political | August 7, 2015 at 1:54 pm

If you missed it, don’t forget to read this piece by the Professor also.

“Declining workforce participation is Obama’s greatest achievement”

Posted by William A. Jacobson Friday, March 6, 2015 at 1:00pm

“Unemployment Rate” Drops as People Drop Out of Workforce.

https://legalinsurrection.com/2015/03/declining-workforce-participation-is-obamas-greatest-achievement/

Midwest Rhino | August 7, 2015 at 2:05 pm

The middle class is in decline, as total compensation increase is only at the high end. Job gains are for immigrants, as “we the people” have jobs but they are now part time and/or overqualified people taking lower level jobs.

And many with jobs still qualify for various welfare programs, like food stamps and Medicaid, even as lifetime disability recipients skyrocket.

Obama is transforming us, bringing down the strong to make us all more “equal”. If the thirty year credit expansion is coming to an end, as China/Greece may indicate, we may see a nasty reversion to the mean, and chaos will ensue.

… back in 1986, the financial sector—defined here as the market value of equities plus credit market debt outstanding—- was about $12 billion. Today it is $93 trillion.

…. the principle central banks of the world do not have the firepower to keep inflating the global financial bubble. Indeed, they are helpless in the face of a worldwide deflationary wave that is the product of their own falsification of asset markets and systematic financial repression.

http://davidstockmanscontracorner.com/birinyis-sp-3200-call-bull-from-a-30-year-bull/

Stock markets could be in for a fall which QE4 won’t save, though I’m not sure if real goods would then inflate as people look to invest those paper gains into real stuff. In any case, there will be more pain.

The one thing North Korea and America have in common: a completely corrupt, clownish but dangerous media.

    Now for the rest of the thought: had we an uncorrupt, unclownish media, the Barack Obama, the Great Cretin, would never have been allowed to get near the levers of power — or survive using them — to cause this nightmare.

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