Hot off the press release – Employment through Government-colored Glasses:
“The unemployment rate, at 4.7 percent, and the number of unemployed persons, at 7.5 million, changed little in December. However, both measures edged down in the fourth quarter, after showing little net change earlier in the year. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (4.4 percent), adult women (4.3 percent), teenagers (14.7 percent), Whites (4.3 percent), Blacks (7.8 percent), Asians (2.6 percent), and Hispanics (5.9 percent) showed little change in December. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.8 million in December and accounted for 24.2 percent of the unemployed. In 2016, the number of long-term unemployed declined by 263,000. (See table A-12.)
The labor force participation rate, at 62.7 percent, changed little in December and was unchanged over the year. In December, the employment-population ratio was 59.7 percent for the third consecutive month; this measure showed little change, on net, in 2016.
Now let’s roll through the data rather than generalizations, shall we?
The number of people in the job force was up 184,000. Number of people in the civilian population was up 202,000. Let me see… MOST of the population increase found jobs? Like people released from institutions and …hmmm…
Table A-15 (they move it around) alternative measures of labor under-utilization shows 9.2% unemployment is more real…had been 9.3 percent in December. I would expect it to climb back up in January’s report out next month.
Last but not least, the CES Birth/Death model actually took away 28,000 jobs from the report. Still, this means for the year 841,000 jobs were “estimated into existence.”
Trade Got Worse
Then there’s this ugly picture from the trade report out this morning:
The confessional part:
Year-to-date, the goods and services deficit decreased $4.9 billion, or 1.1 percent, from the same period in 2015. Exports decreased $56.6 billion or 2.7 percent. Imports decreased $61.4 billion or 2.4 percent.
Again, not the kind of thing Trump will be able to turn around overnight, so keep an eye on this. China is promising to whine and beat on us with big sticks if the US toughens up on trade too fast.
Chicago Hate, Media Agenda
We mentioned the hate crime in Chicago in Thursday’s column: Four black suspects are being held for terrorizing that disabled fellow.
While terrible and ugly, it sure lets us get a solid bead on how the media controls the narrative with their own news room agendas.
Take the NY Times. Small headline in the scroll-down area “Chicago Assault Tests a Tense Nation’s Views on Race.” The story of a teenage girl tackled by police in Texas filing a $5-million suit against the cops was higher up. Instead, the NY media seem much for fascinated with bashing Trump on Russia.
You saw the Bloomberg note “FBI Says Democrats Refused Access to Hacked E-Mail Servers?” Yesterdays news for the CSPAN crowd, but it’s a chance to bash Trump.
In Chicago, the Trib lead is the hate crime story, as it is in Sun Times which headlines “Obama calls attack on mentally disabled man ‘despicable.”
So in New York, it’s a non-event. In Chicago it’s the ONLY lead story. So how about in the flyover lands? West Coast? All downplaying in.
But I assure you, if the situation were flipped, and four white perps were yelling ‘eff black people” and “eff Obama” it would be the agendized universal lead story.
But it wasn’t…and so the agenda is to bury, not equally weight perps regardless of race, religion, or national origin.
And so it rolls.
Climate Change, Anyone?
Our hats off to the L.A. Times for actually doing a weather story without putting in climate change gobbledygook. I’m sure someone will get a memo about that, however.
Oh Look! Honesty!
On the other hand, in the vein of “never let a misled public go unabused” we see how “Jamie Oliver to Close Six U.K. Restaurants Amid Brexit Squeeze.”
Want the terrible, horrible TRUTH about BREXIT?
The British stock market is a workable Reality Detector for us: BREXIT vote to bow out of the crooked and failing EU was on June 23rd of last year.
Look at the Yahoo Chart here and you will see the FTSE was Around 5,982. The FTSE was trading at 7,187 and change this morning. Which looks to Ures truly like a 20% run-up after the world-ender predictions.
The UK ought to look the EU more often. And since the PTB/Crooks at the top are sitting on their asses not implementing, we expect they will have to vote again on topic because money talks and voters walk.
To say that economics is in collapse as a pseudo-science would not be over-stating it. The new theory du jour is Modern Monetary Theory which we can only assume replaces Antiquated Economic Theory which didn’t work out as predicted, either.
We will be expecting Ultra-Modern Economic Theory to arrive just ahead of Collapse Theory in the next few years.
Leave It to Texas
Sound hostile? Not really: The idea is simple enough: Use of plumbing facilities corresponding to how the human’s plumbing is hooked up. That actually makes sense in a Texas kind of way.
Outside plumbing in front to the men’s room, inside plumbing in front to the lady’s room.
If it’s an issue, economics dictates we go back to unlabeled single toilets again and just take turns. I know, I’m just stalling progress, get it?
Otherwise, I’m going to get a plumbing contractor ticket and argue that we should have thousands of restrooms. One for males, one for females, one for trannies, one for mobility impaired, one for vegans, one for meat-eaters, two for gays, but just one for democrats and republicans.
One for the pols? Sure! They’re about equally full of xhit and waste our time on idiocy. Which is why Asia is burying us…but I digress.
Point is: I could be a millionaire…FLUSH with Cash!
Don’t squeeze the Charmin. Squeeze the taxpayers! Yee-haw!
Ya’ll come back Monday and bring a quarter…got another great revenue idea…toilet paper by the square!