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Unemployment

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The Bush administration would benefit from giving a little more thought to the economy and a little less to Iraq. Concerns already existed over the economy having 116,000 fewer jobs as of July than eight months ago, when the recovery supposedly began. Now there might be indications that the economy softened in mid-July and has... Read More
The U.S. continues to lose jobs. Since President Bush has been in office, 2.5 million manufacturing jobs and nearly 600,000 service jobs have been lost for a total decline in private sector employment of 3.1 million. The unemployment rate has risen to 6.1 percent. If this is recovery, what is going on? Pundits call it... Read More
Throughout history peoples have been overcome by trends and forces that they were unable to recognize. Could the US be losing its economy to forces economists mistake for benevolent free trade? Traditionally, free trade has required a country’s work force to compete indirectly against the work forces of other countries in the markets for traded... Read More
The current economic recovery has not been good for employment. Despite 25 months of “recovery,”the economy has 2,944,000 fewer private sector jobs than in January 2001. American manufacturing has experienced the largest job loss, with 2,559,000 fewer jobs today than 35 months ago when President Bush took office. These figures include the losses of the... Read More
There is no good news in the April payroll data released last Friday by the Bureau of Labor Statistics. Disaster lurks in the jobs numbers: the US labor market is becoming Third World in character. The April jobs data show a continuation of the troubling pattern established in recent years. Despite a massive trade deficit... Read More
Deceit about jobs is taking over from deceit about the Iraq war. Lost in the hoopla about 248,000 jobs created in May is the discouraging pattern of job creation. Why didn’t the pundits touting the “good news on the jobs front” tell us that 176,000 of the jobs—or 71%—are concentrated in low-paying domestic services that... Read More
The jobs front is like the Iraqi front. The worse the situation, the better the news. As jobs for college graduates disappear from the US economy, pundits tell us how great the jobs outlook is. The 248,000 new jobs in May looks good as an aggregate number, which is the only number the public got.... Read More
US job growth practically ceased in July according to the Bureau of Labor Statistics payroll job survey released August 6. The US economy was able to eke out only 32,000 new jobs–more than 200,000 fewer jobs than expected and terrible news for June graduates and the millions of unemployed. More bad news came from downward... Read More
August was the thirty-fourth month of disappointing job growth. A mere 120,000 private sector payroll jobs were created in August according to the Bureau of Labor Statistics. Continuing the third world transformation of the US labor force established by the Bush recovery, the new payroll jobs are concentrated in domestic nontradable services. Health care and... Read More
The January jobs report from the Bureau of Labor Statistics continues the bad news of the past four years. During President Bush’s first term, the US economy had a net loss of three-quarters of a million private sector jobs. Despite three years of economic recovery, fewer Americans are employed in the private sector today than... Read More
Americans are being sold out on the jobs front. Americans’ employment opportunities are declining as a result of corporate outsourcing of US jobs, H-1B visas that import foreigners to displace Americans in their own country, and federal guest worker programs. President Bush and his Republican majority intend to legalize the aliens who hold down wages... Read More
In March the US economy created a paltry 111,000 private sector jobs, half the expected amount. Following a well-established pattern, US job growth was concentrated in domestic services:waitresses and bartenders, construction, administrative and waste services, and health care and social assistance. In the 21st century the US economy has ceased to create jobs in knowledge... Read More
Careless journalists and commentators are hyping the 274,000 new April payroll jobs as evidence of the health of the US economy. An examination of the details of the new jobs puts a different view on the matter. April’s job growth is consistent with the depressing pattern of US employment growth in the 21st century: The... Read More
In May the Bush economy eked out a paltry 73,000 private sector jobs: 20,000 jobs in construction(primarily for Mexican immigrants), 21,000 jobs in wholesale and retail trade, and 32,500 jobs in health care and social assistance. Local government added 5,000 for a grand total of 78,000. Not a single one of these jobs produces an... Read More
The November payrolls job report was announced Friday with the usual misleading hype. Spinmeisters made the most out of the 215,000 jobs. Looking beyond the glitter at the real facts, this is what we see. 21,000 of those jobs were government jobs supported by taxpayers. There were only 194,000 new jobs in the private sector.... Read More
On Friday Feb. 3 the Bureau of Labor Statistics released the nonfarm payroll jobs report for January.New York Times reporter Vikas Bajaj wrote an upbeat news story, obviously based on a Labor Department press release rather than any study of the BLS report. If the rosy view of Ethan Harris, chief economist for Lehman Brothers... Read More
Last week the Bureau of Labor Statistics re-benchmarked the payroll jobs data back to 2000. Thanks to Charles McMillion of MBG Information Services, I have the adjusted data from January 2001 through January 2006. If you are worried about terrorists, you don’t know what worry is. Job growth over the last five years is the... Read More
Readers ask me to reconcile the jobs and debt data that I report to them with the positive economic outlook and good news that comes to them from regular news sources. Some readers are being snide, but most are sincere. I am pleased to provide the explanation. First, let me give my reassurances that the... Read More
March 10. The BLS payroll jobs report released today lists 205,000 new private sector jobs for February. As has been the case for a number of years, the new jobs are in domestic nontradable services. The sources of February’s new jobs are: construction (primarily specially trade contractors) 41,000 jobs; wholesale and retail trade, transportation and... Read More
Is your job safe? Not if it can be done abroad. The only safe jobs are in domestic services that require a “hands-on” presence, such as barbers, hospital orderlies, and waitresses. For a number of years the Bureau of Labor Statistics’ monthly payroll jobs reports have been sending US policymakers dire warnings, only to be... Read More
The Bureau of Labor Statistics payroll jobs report released May 5 says the economy created 131,000 private sector jobs in April. Construction added 10,000 jobs, natural resources, mining and logging added 8,000 jobs, and manufacturing added 19,000. Despite this unusual gain, the economy has 10,000 fewer manufacturing jobs than a year ago. Most of the... Read More
The May payroll jobs report released June 2 by the Bureau of Labor Statistics confirms the jobs pattern for the 21st century US economy: employment growth is limited to domestic services. In May the economy created only 67,000 private sector jobs. Job estimates for the previous two months were reduced by 37,000. The new jobs... Read More
Last June a revealing marketing video from the law firm, Cohen & Grigsby appeared on the Internet. The video demonstrated the law firm’s techniques for getting around US law governing work visas in order to enable corporate clients to replace their American employees with foreigners who work for less. The law firm’s marketing manager, Lawrence... Read More
December did not bring Americans any jobs. To the contrary, the private sector lost 13,000 jobs from the previous month. If December is a harbinger of the New Year, it is going to be a bad one. The past year, hailed by Republican propagandists and “free trade” economists as proof of globalism’s benefit to Americans,... Read More
For a number of years I reported on the monthly nonfarm payroll jobs data. The data did not support the praises economists were singing to the “New Economy.” The “New Economy” consisted, allegedly, of financial services, innovation, and high-tech services. This economy was taking the place of the old “dirty fingernail” economy of industry and... Read More
Now that a few Democrats and the remnants of the AFL-CIO are waking up to the destructive impact of jobs offshoring on the US economy and millions of American lives, globalism’s advocates have resurrected Dartmouth economist Matthew Slaughter‘s discredited finding of several years ago that jobs offshoring by US corporations increases employment and wages in... Read More
The announcement on March 4 that 192,000 new jobs were created in February was greeted with a sigh of relief. But the number is just more smoke and mirrors, as I will show shortly. First, let’s pretend the jobs are real. What areas of the economy produced the jobs? According to the Bureau of Labor... Read More
The following report is based on the work of statistician John Williams of shadowstats.com. Today’s (Friday, January 6) payroll jobs report of 200,000 new jobs in December is overstated by at least 82,000 jobs. As approximately 130,000 new jobs are needed each month to stay even with population growth, the December job figures actually indicate... Read More
Last Friday the US Bureau of Labor Statistics reported that in the first month of this new year 243,000 jobs were created and the unemployment rate (U.3) fell to 8.3 percent. This good news is a mirage. It is due to faulty seasonal adjustments and to the BLS birth/death model. In a prolonged downturn, seasonal... Read More
Today (March 9, 2012) the Bureau of Labor Statistics (BLS) announced that 227,000 new nonfarm payroll jobs were created by the economy during February. Is the government’s claim true? No. Statistician John Williams (shadowstats.com) reports that 44,000 of these jobs or 19% consist of an add-on factor derived from the BLS’s estimate that 44,000 more... Read More
In his report on the Bureau of Labor Statistics’ latest jobs and unemployment report, statistician John Williams (shadowstats.com) writes: “The July employment and unemployment numbers published today, August 3rd, were worthless and likely misleading. . . . Suspecting at one time that the jobs numbers were being rigged against him by his own Bureau of... Read More
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During the second half of the 20th century the United States was an opportunity society. The ladders of upward mobility were plentiful, and the middle class expanded. Incomes rose, and ordinary people were able to achieve old-age security. In the 21st century the opportunity society has disappeared. Middle class jobs are scarce. Indeed, jobs of... Read More
June 7, 2013. The payroll jobs report for May released today continues the fantasy. Goods producing jobs declined, with manufacturing losing another 4,000 jobs, but the New Economy produced 179,000 service jobs. Are these jobs the high-powered, high-wage “innovation jobs” that economists promised would be our reward from Globalism. I’m afraid not. According to the... Read More
Breaking News–Today’s Job Report
Do you remember the promise of the New Economy that was going to replace the lost “dirty fingernail” manufacturing jobs with innovative highly paid New Economy jobs? Well, the promise was just another deception from the elites who have stolen Americans’ future. For the umpteenth consecutive month and year, the June BLS payroll jobs report... Read More
Dear Readers, I am flattered by the traffic on this site, and by the generosity of donors from across the United States–large cities and small villages–and the world. We have donations from Indonesia, Russia, Taiwan, Hong Kong, Mexico, most countries in Europe and from Canada, Australia, and New Zealand. It is exciting to me that... Read More
The payroll jobs report for November from the Bureau of Labor Statistics says that the US economy created 203,000 jobs in November. As it takes about 130,000 new jobs each month to keep up with population growth, if the payroll report is correct, then most of the new jobs would have been used up keeping... Read More
Credit Wikimedia Commons
Have you seen the economic recovery? I haven’t either. But it is bound to be around here somewhere, because the National Bureau of Economic Research spotted it in June 2009, four and one-half years ago. It is a shy and reclusive recovery, like the “New Economy” and all those promised new economy jobs. I haven’t... Read More
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The alleged recovery took a direct hit from Friday’s payroll jobs report. The Bureau of Labor Statistics reported that the economy created 74,000 net new jobs in December. Wholesale and retail trade accounted for 70,700 of these jobs or 95.5%. It is likely that the December wholesale and retail hires were temporary for the Christmas... Read More
Over the decades various administrations, seeking to improve their economic record, monkeyed with economic statistics to the point that the statistics are no longer meaningful. According to Friday’s (March 7) payroll jobs report, the US economy created 175,000 new jobs in February. If you believe that, I have a bridge in Brooklyn that I’ll let... Read More
The March payroll jobs report released April 4 claims 192,000 new private sector jobs. Here is what John Williams has to say about the claim: “The Bureau of Labor Statistics (BLS) deliberately publishes its seasonally-adjusted historical payroll-employment and household-survey (unemployment) data so that the numbers are neither consistent nor comparable with current headline reporting. The... Read More
Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 job or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true. My... Read More
June 25, 2014. A final number for real US GDP growth in the first quarter of 2014 was released today. The number is not the 2.6% growth rate predicted by the know-nothing economists in January of this year. The number is a decline in GDP of -2.9 percent. The negative growth rate of -2.9 percent... Read More
And More Fraud Is in the Works
Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality. In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the... Read More
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The third and final estimate (until the annual GDP revisions) of first quarter 2014 real GDP growth released June 25 by the US Bureau of Economic Analysis was a 2.9% contraction in GDP growth, a 5.5 percentage point difference from the January forecast of 2.6% growth. Apparently, the first quarter contraction was dismissed by those... Read More
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On January 6, 2004, Paul Craig Roberts and US Senator Charles Schumer published a jointly written article on the op-ed page of the New York Times titled “Second Thoughts on Free Trade.” The article pointed out that the US had entered a new economic era in which American workers face “direct global competition at almost... Read More
The truth about the American economy
The labor force participation rate has declined from 66.5% in 2007 prior to the last downturn to 62.7% today. This decline in the participation rate is difficult to reconcile with the alleged economic recovery that began in June 2009 and supposedly continues today. Normally a recovery from recession results in a rise in the labor... Read More
The Dow Jones stock average closed Friday at 17,137, despite the fact that the payroll jobs report was a measly 125,000 new jobs for August, an insufficient amount to keep up with the growth in the working age population. The low 125,000 jobs figure is also inconsistent with the Bureau of Economic Analysis’ second estimate... Read More
The Bureau of Labor Statistics headline this morning reads: “Payroll employment increases by 248,000 in September; unemployment rate declines to 5.9%.” How can this be? As I reported yesterday, US corporations are investing in buying back their own stocks, not in new business ventures that produce new jobs. According to the Census Bureau’s Poverty Report,... Read More
Just as the German media has destroyed its credibility with lies, the US government is consistently destroying Washington’s credibility both with its own citizens and the rest of the world. Russia and China, the other two significant nuclear powers, no longer believe anything Washington says or any agreement that the US government signs. The Russian... Read More
“The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes…Not everyone will agree with the entirety of this statement. But what we have learnt over time is that unemployment and inequality can undermine the very achievements... Read More
Paul Craig Roberts
About Paul Craig Roberts

Paul Craig Roberts has had careers in scholarship and academia, journalism, public service, and business. He is chairman of The Institute for Political Economy.

Dr. Roberts has held academic appointments at Virginia Tech, Tulane University, University of New Mexico, Stanford University where he was Senior Research Fellow in the Hoover Institution, George Mason University where he had a joint appointment as professor of economics and professor of business administration, and Georgetown University where he held the William E. Simon Chair in Political Economy in the Center for Strategic and International Studies.

Dr. Roberts was associate editor and columnist for The Wall Street Journal and columnist for Business Week and the Scripps Howard News Service. He was a nationally syndicated columnist for Creators Syndicate in Los Angeles. In 1992 he received the Warren Brookes Award for Excellence in Journalism. In 1993 the Forbes Media Guide ranked him as one of the top seven journalists in the United States.

President Reagan appointed Dr. Roberts Assistant Secretary of the Treasury for Economic Policy and he was confirmed in office by the U.S. Senate. From 1975 to 1978, Dr. Roberts served on the congressional staff where he drafted the Kemp-Roth bill and played a leading role in developing bipartisan support for a supply-side economic policy. After leaving the Treasury, he served as a consultant to the U.S. Department of Defense and the U.S. Department of Commerce.