Where Are The Jobs?

We’ve had some mixed news from the Government numbers on unemployment they are cheering a creation of 67,000 jobs in the private sector, which I agree is a good thing because private sector is where the real jobs are going to be created.  The thing is as White House political adviser David Axelrod has told us there are 15,000,000 people looking for jobs.  Let’s not forget that we had a net loss of 57,000 jobs, so the unemployment rate has increased yet again!

The Labor Department on the other hand claims that only 6.2 million people are out of work longer than 6 months.  This is only part of the picture, because after a year you aren’t even considered to be in the work force.  So as David Axelrod kindly pointed out for us, the White House does know the real unemployment number.

The problem is we still lost more jobs than were created, and judging how much M&A activity is going on in Wall Street over the Summer of Synergies we’re pretty much guaranteed to see this unemployment number creep back up towards the end of the year in time for Christmas layoffs.

So we can watch the White House, and the rest of the media cheer on private sector “growth” but only 0.0044% of the unemployed workers found a job during the month;  again this wasn’t 66,000 jobs for one state, but the entire United States of America.

To add insult to injury if we take a look at the released data that the Associated Press has compiled we see that the United States of America has about 3.04 million jobs advertised for.  In a positive development on this number it did increase 6.2% from the previous month.

In other words there are 5 people per job advertised for that are laid off or looking for work.  Couple this number with people who are not happy with their current employment situation and that number jumps yet again.

To make any noticeable change to the economic situation however we really need to be seeing very high double digit or ideally triple digit growth rates of this number, which is highly unlikely.