FacebookTwitterGoogle+RedditEmail

Another Phony Jobs Report

by PAUL CRAIG ROBERTS

The payroll jobs report for May released 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 Bureau of Labor Statistics, the jobs created are the usual lowly paid non-exportable domestic service jobs–the jobs of a third world country.

Retail trade accounts for 27,700 of the jobs.

Wholesale trade accounts for 7,900 jobs.

Ambulatory health care services accounts for 15,300 of the jobs.

Waitresses and bartenders accounts for 38,100 of the jobs.

Local government accounts for 13,000 of the jobs.

Amusements, gambling, and recreation accounts for 12,500 of the jobs.

Temporary help services provided 25,600 jobs.

Business support services provided 4,300 jobs.

Services to buildings and dwellings provided 6,400 jobs.

Accounting and bookkeeping services provided 3,100 jobs.

Architectural and engineering services provided 4,900 jobs.

Computer systems design and related provided 6,000 jobs (most likely filled by H-1B work visas).
howecon

Management and technical consulting services provided 3,200 jobs.

For a decade this has been the jobs profile of “the world’s most powerful economy.”  It is the profile of third world India 40 years ago.  The jobs that made the US the dominant economy have been moved off shore by corporations threatened by Wall Street with takeovers if they did not increase their profits.

The easiest way for corporations to increase profits is to take advantage of cheap labor in countries with massive quantities of unemployed labor.

So, if we believe the BLS report, and the reported new jobs are not simply a product of faulty season adjustments and a faulty birth-death model, why is the financial press happy that the US economy can only create third world jobs?  Why was the stock market up on the news that the US economy has created 179,000 third world jobs?

Would rational markets be up on such discouraging news?

But are the jobs really there?

With retail sales going nowhere, why 35,600 new jobs in wholesale and retail trade?

With real median incomes declining, why 38,100 more waitresses and bartenders? For every month as long as I can remember the BLS reports numerous new jobs in waitresses and bartenders, despite the long-term decline in real median income.

In the May jobs report, where are the jobs for the vast number of new college graduates?

The US now has more hotel maids, bartenders, and waitresses than it has manufacturing workers. The US has twice as many people employed in government than in manufacturing.

The services of maids, bartenders, waitresses, and government cannot be exported.

Therefore, the US trade deficit remains large and without exports to reduce it, a crisis in itself.

What the BLS jobs reports have been telling us for many years is that the US economy is in crisis, in a death-spiral.  Yet, not a handful of economists’ voices have been raised.

Today president obama’s economist said that the notch upward in the unemployment rate was because the economic outlook was so good that more people were encouraged to enter the labor market than there were new jobs available.

The conclusion is inescapable:  The same government that lies about weapons of mass destruction, Saddam Hussein’s al-Qaeda connections, Iranian nukes, and so on, also lies about jobs, the unemployment rate, the inflation rate, rigs every financial and commodity market, pretends that terrorism is such a threat that the US Constitution must be set aside and that Americans are safer without the protection of habeas corpus and due process.

It is amazing how rare terrorism is, especially with Washington in the second decade of trying to stir up terrorism by invading countries on totally false pretenses, murdering citizens of countries, such as Pakistan and Yemen with drones, and supporting Israel’s never-ending murder and dispossession of the Palestinians.

After such massive provocations from Washington, one would think that the world would be ablaze with terrorism. But it isn’t.

As there is so little terrorism, Washington and its presstitute media call those who resist

Washington’s invasion of their countries “terrorists.”  Everyone who resists Washington’s military aggression is a terrorist.  Just ask the New York Times, Fox News, or any neoconservative. Or, for that matter, the Bilderbergs, the Council on Foreign Relations, the Trilateral Commission, and Homeland Security, the Gestapo organization that now defines all American dissenters to be “domestic extremists.”

Washington’s claim that Americans have “freedom and democracy” is the sickest joke in human history.

In 21st century America, defendants have no more rights than the accused in Nazi Germany or Stalinist Russia. The FBI now shoots “suspects” brought in for questioning in the back of the head even before the suspect is arrested. 

Long before Bradley Manning’s trial the presstitutes have convicted the accused based on lies leaked by the prosecutors. Consider Bradley Manning.  After three years of detention, including one year of torture, he is brought to a rigged trial as a national security danger.  All that Bradley Manning did was to comply with the Military Code and report war crimes.  As his corrupt superiors did not want to know, he complied  with his duty, apparently, by going public.

Paul Craig Roberts is a former Assistant Secretary of the US Treasury and Associate Editor of the Wall Street Journal. His latest book is  The Failure of Laissez-Faire Capitalism. Roberts’ How the Economy Was Lost is now available from CounterPunch in electronic format. 

Paul Craig Roberts is a former Assistant Secretary of the US Treasury and Associate Editor of the Wall Street Journal. Roberts’ How the Economy Was Lost is now available from CounterPunch in electronic format. His latest book is The Neoconservative Threat to World Order.

More articles by:
May 23, 2016
Conn Hallinan
European Union: a House Divided
Paul Buhle
Labor’s Sell-Out and the Sanders Campaign
Uri Avnery
Israeli Weimar: It Can Happen Here
John Stauber
Why Bernie was Busted From the Beginning
James Bovard
Obama’s Biggest Corruption Charade
Joseph Mangano – Janette D. Sherman
Indian Point Nuclear Plant: It Doesn’t Take a Meltdown to Harm Local Residents
Desiree Hellegers
“Energy Without Injury”: From Redwood Summer to Break Free via Occupy Wall Street
Lawrence Davidson
The Unraveling of Zionism?
Patrick Cockburn
Why Visa Waivers are Dangerous for Turks
Robert Koehler
Rethinking Criminal Justice
Lawrence Wittner
The Return of Democratic Socialism
Ha-Joon Chang
What Britain Forgot: Making Things Matters
John V. Walsh
Only Donald Trump Raises Five “Fundamental and Urgent” Foreign Policy Questions: Stephen F. Cohen Bemoans MSM’s Dismissal of Trump’s Queries
Andrew Stewart
The Occupation of the American Mind: a Film That Palestinians Deserve
Nyla Ali Khan
The Vulnerable Repositories of Honor in Kashmir
Weekend Edition
May 20, 2016
Friday - Sunday
Rob Urie
Hillary Clinton and Political Violence
Andrew Levine
Why Not Hillary?
Paul Street
Hillary Clinton’s Neocon Resumé
Chris Floyd
Twilight of the Grifter: Bill Clinton’s Fading Powers
Eric Mann
How We Got the Tanks and M-16s Out of LA Schools
Jason Hirthler
The West’s Needless Aggression
Dan Arel
Why Hillary Clinton’s Camp Should Be Scared
Robert Hunziker
Fukushima Flunks Decontamination
David Rosen
The Privatization of the Public Sphere
Margaret Kimberley
Obama’s Civil Rights Hypocrisy
Pete Dolack
We Can Dream, or We Can Organize
Chris Gilbert
Corruption in Latin American Governments
Dan Kovalik
Colombia: the Displaced & Invisible Nation
Jeffrey St. Clair
Fat Man Earrings: a Nuclear Parable
Medea Benjamin
Israel and Saudi Arabia: Strange Bedfellows in the New Middle East
Ted Rall
Trump Isn’t Bluffing, He’ll Deport 11 Million People
Kent Paterson
Death in a Shopping Aisle: Jonathan Sorensen’s Fatal Encounter with Kmart
Lisa Sullivan
Venezuela’s Crisis From Up Close
Clancy Sigal
Trump’s Rasputin: What the Donald Learned From Roy Cohn
Manuel E. Yepe
Think Tanks and the US Power Elite
Kathleen Wallace
$25 vs $30, Hats Off to the Two-Party System!
Terry Simons
Mob Politics: the Democrats Have a Problem and It’s Not the Sandernistas
Franklin Lamb
U.S. Financial Regulations Increase Starvation Among Syria’s Children
James Cronin
The Pope and Mercy: the Catholic Church has not Abandoned Its 400 Year War on Science
Linn Washington Jr.
Islamophobia on the Rise in England
Thomas Mountain
25 Years of Struggle Building Socialism in Eritrea; Fighting the Cancer of Corruption
David Wilson
Who Speaks for the Refugee Children of Calais?
Michael Welton
Terry Eagleton: the Cheeky Marxist
David Mattson
Disserving the Public Trust: the Despotic Future of Grizzly Bear Management
Rick Sterling
Bernie Comes to Vallejo
FacebookTwitterGoogle+RedditEmail