You are here

September Jobs Report Reveals America’s Emerging Third World Economy

Section(s): 
    \r\n
  • September Jobs: American Worker Displacement At Record High
  • \r\n

  • New Figures Detail Depth Of Unemployment Misery, Lower Earnings For All But Super Wealthy
  • \r\n

\r\n

Paul Craig Roberts, Information Clearing House

If you like reading this article, consider contributing a cuppa jove to Evergreene Digest--using the donation button in the above right-hand corner—so we can bring you more just like it.

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 manufacturing. Education would retrain the workforce, and we would move on to a higher level of prosperity.

More...

Related:

September Jobs: American Worker Displacement At Record High, Edwin S. Rubenstein, VDare.com

\r\n

    \r\n
  • The economy lost 95,000 more jobs in September, as state and local governments downsized at a faster rate than the private sector expanded.
  • \r\n

  • The drop was much larger than the 8,000 decline expected by economists and far outstripped the 57,000 lost in August.
  • \r\n

\r\n

New Figures Detail Depth Of Unemployment Misery, Lower Earnings For All But Super Wealthy, Huffington Post
Those Americans earning more than $50 million increased their income from an average of $91.2 million in 2008 to almost $519 million. That's nearly $10 million in weekly pay!These 74 people made as much as the 19 million lowest-paid people in America, who constitute one in every eight workers."