Once again the government has released their monthly job figures and claim that they are still making improvements to the job market. They are boasting about the addition of 195,000 new jobs reported for the month of June and trying to convince us all that things are looking up with an unemployment rate of 7.6%. They may have created 195,000 new jobs, but the report also shows that 2,692,000 Americans have been unemployed less than 5 weeks.
Once again, the 7.6% unemployment figures are deceiving and continue to paint a gloomy picture. Their released figures show that the unemployment rate for teens (16-19) is 24%. That means that many teens have no job and no way of saving for college, forcing even more of them to get sucked into the trap of the government controlled student loans. Before they have a chance to graduate and hopefully find a good paying job, they are already made to be financial slaves to Obama’s socialist government.
Even more disturbing is how many Americans are working full-time. According to the government figures, there are 245,552,000 people in the Civilian noninstitutional population. Only 155,835,000 are considered to be in the civilian labor force. Of those, only 144,058,000 are employed. The labor stats indicate that there are 27,270,000 people working part-time for one reason or another, leaving only 116,788,000 Americans working full-time, or only 47.6% of Americans with full-time jobs.
The number of full-time jobs is on a steady decrease thanks largely to Obamacare and the 2013 tax increases that Obama forced on the nation. A growing number of employers are finding it too costly to provide benefits to full-time employees, so they are reducing hours to under 30 per week, even though it was just announced last week that the employer deadline has been extended to January 1, 2015. It’s cheaper to employ 4 employees 29 hours a week than it is to employ 3 people 30 hours per week due to the benefits.
I’m sure that the White House will continue to try to paint a rosy picture of the job market in the coming months, but please don’t get taken in by their adjusted propaganda. Look at the real figures and see how many Americans are working part-time versus full-time and how many are entering the realms of unemployment and you will get a truer picture of the job market and our economy.