Ecclesiastes 3:8 – “A time to love, and a time to hate; a time of war, and a time of peace”
Will You Have A Job In 5 Years
The jobs report from October is horrific. Will you have a job in 5 years?
Not only was the quantity of jobs poor, the quality (or composition) was absolutely atrocious.
Birth-Death Adjustment was 412K, the second highest in history.
BLS is seeing unprecedented economic growth taking place behind the scenes, with millions of new businesses somehow opening.
Biden Labor Bureau has downward revised 8 of the 9 previous monthly jobs reports for 2023.
Employment is collapsing.
 Yes, payrolls may still be positive but the actual change in monthly employment isn’t.
The bizarre divergence between the number of employed workers (per the Household Survey) and number of jobs (Establishment Survey) was not a one off thing.
Taking a closer look at the data reveals that in the past six months, since April 2023, the US has reportedly added 1.234 million jobs, yet just 191 people found new employment. How is this possible?
Record number of multiple jobholders.
Instead of a strong labor market, it merely confirms that a record number of Americans now have to work two or more jobs to make ends meet.
Conclusion
Unemployment rate spike begins countdown to the next recession.
The low for joblessness so far this year was 3.4% in April while October’s rate was 3.9%.
People are drowning because of the disastrous policies of the Government and the Fed.
People are drowning due to lack of basic personal financial literacy.
The reckless spending, causes inflation.
When you don’t know if a bank will freeze your assets, you move money OUT of the banks.
If enough people stop buying overpriced items, the prices will come down.
We need to take responsibility for our own problems.
People should learn trade skills (mechanic, construction worker, home repairs).
Poverty is a state of mind!
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
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You can buy a bag of potatoes for the same price as a bag of chips. It’s ridiculous.