Authored by Michael Snyder via The Economic Collapse blog,
In line with the absurd numbers that the federal government feeds us, the unemployment charge may be very low and there are many jobs obtainable. But when what they’re telling us is true, why are so many People not capable of finding work? As you will note under, some individuals haven’t been employed although they’ve actually utilized for a whole bunch of jobs.
There appears to be an unlimited disconnect between what is definitely taking place in the actual economic system and the financial narrative that they’re always pushing. By the point you might be executed studying this text, I believe that you’ll agree with me.
Earlier this week, I obtained an electronic mail from a reader that has not been capable of finding work after seven months of looking out.
He gave me permission to share a part of that electronic mail with you, and it’s actually fairly heartbreaking…
Hello Michael,
I’m a long-time reader of theeconomiccollapseblog.com, and your latest article evaluating the economic system to the film “Weekend at Bernie’s” actually stood out to me.
I’m actually making an attempt to determine WHY it’s so exhausting to discover a job.
I used to be laid off from my job as a Custodial Foreman in September 2023, and have had ZERO outcomes for my numerous hours spent trying to find comparable work.
I don’t know if you wish to use any of this for an article or not, however for those who do, please simply hold doing what you usually do: Praising Jesus Christ. With out my religion in him I don’t know what I’d do.
After I get up, I make espresso and activate the pc and undergo the state’s unemployment job search websites they offered me after I was laid off. I’ve been wanting and in addition making use of for jobs DAILY since September 2023. And these usually are not “rocket science” positions; I’m merely searching for Upkeep or Custodial or Groundskeeper kind jobs. You realize, “regular working class” kind jobs.
However after ~300 functions (And these are all simply to the roles that I not solely have expertise for but in addition would really wish to do), I’ve had 1 interview. One interview in 7 months of making use of and sending tailor-made cowl letters with, every day!
If the economic system is doing so “nice”, why can’t he discover employment?
A few of it’s possible you’ll be tempted to assume that he’s simply an remoted case.
Nicely, right here is one other instance of an skilled employee that has utilized for roughly 300 jobs without any success…
Royal Siu, who lives in Seattle and is educated as a pharmacist, likes to make his associates guess what number of jobs he’s utilized to. They’ll usually toss out some quantity round 40, he instructed BI. He’ll inform them to maintain going. Most quit by the point they attain 100. That’s when Siu drops that he’s utilized to about 300 jobs. “It’s normally a shock issue to them,” he mentioned.
Siu, who’s making an attempt to make use of his pharmacy diploma to work in different components of healthcare, is discovering it more durable to land interviews than in a previous job search. The 28-year-old was getting extra cellphone screenings and first and second interviews up to now. This time, it’s been a few months since he had a screening name. So he continues to show to his community but in addition doesn’t cease making use of.
What on this planet is happening right here?
I believed that there have been “thousands and thousands” of fine jobs simply ready for somebody to step into them.
One thing undoubtedly doesn’t add up.
Even People with superior levels from prime faculties are more and more discovering themselves out of labor.
If you happen to doubt this, simply try these numbers…
Even at some prime enterprise faculties, the variety of not too long ago minted M.B.A.s with out jobs has roughly doubled from a few years in the past, when U.S. corporations had been speeding to rent as many staff as they may, in keeping with knowledge from the faculties.
At Harvard Enterprise College, 20% of job-seeking 2023 M.B.A. graduates didn’t have one three months after commencement, up from 8% in 2021. At Stanford’s Graduate College of Enterprise, 18% didn’t, in contrast with 9% in 2021. About 13% of these on the Massachusetts Institute of Expertise’s Sloan College of Administration didn’t have a job inside three months, up from about 5% in 2021.
How are these numbers potential if the unemployment charge is hovering close to “historic lows”?
After all the reality is that we’ve got been offered a lie.
If you happen to do not need a job, you might be categorised by the U.S. authorities as both “unemployed” or “not within the labor drive”.
In 2008 and 2009, the mixed complete of these two classes by no means even reached 90 million.
At this time, the mixed complete of these two classes is over 106 million.
The Biden administration says that solely 6,429,000 People are formally “unemployed”.
The opposite 99,989,000 People with out a job are thought-about to be “not within the labor drive”.
And extra can be lumped into these two classes quickly, as a result of massive employers everywhere in the nation proceed to conduct mass layoffs.
For instance, 1000’s of Tesla staff in California and Texas had been simply notified that they will be losing their jobs…
The notifications in California and Texas, the place the electrical car (EV) maker has massive presences, got here within the type of WARN notices, in keeping with experiences.
In California, the deliberate Tesla headcount reductions will hit roughly 3,300 staff, The San Francisco Customary reported Tuesday.
They may apparently happen at places in a complete of 4 completely different cities within the Golden State.
In the meantime, Texas will see virtually 2,700 staff in Austin lose their jobs, in keeping with the Austin American-Statesman.
Sadly, the tempo of layoffs is more likely to improve throughout the months forward, as a result of enterprise exercise within the U.S. is declining…
The U.S. economic system misplaced momentum in April, a pair of S&P surveys discovered, as companies reported a decline in new orders and decreased employment for the primary time because the pandemic.
The flash U.S. manufacturing buying managers index slipped to a four-month low of 49.9 in April from 51.9 in March.
The S&P flash U.S. companies PMI fell to a five-month low of fifty.9 this month from 51.7 in March.
The surveys are the primary indicators of every month to offer a way of how the U.S. economic system is performing.
In the meantime, the price of residing disaster simply continues to escalate.
Shockingly, at one station in California gasoline now prices $7.29 per gallon…
Hovering fuel costs have skyrocketed to a whopping $7.29 per gallon in some components of California – which is above the present the nationwide hourly minimal wage.
Whereas the typical worth for a gallon of fuel varies from state to state – drivers in a sure Silicon Valley city are going through notably extortionate charges that set them again virtually $150 for a full tank.
The Chevron fuel station in Menlo Park was uncovered on Sunday by a bewildered buyer who posted on X that the worth per gallon was 4 cents ‘above the federal hourly minimal wage.’
If you happen to assume that that is unhealthy, simply wait till the warfare within the Center East transforms into the apocalyptic battle that I believe it will become.
I’m solely satisfied that inflation will proceed to be a significant downside at the same time as financial exercise within the U.S. slows down much more.
We’re already experiencing “stagflation”.
What’s ultimately coming can be a lot worse than that.
After all the financial ache that we’re going by way of is simply one of many elements that is systematically destroying our nation.
A Warning to America: 25 Methods the US is Being Destroyed | Defined in Below 2 Minutes pic.twitter.com/qwmBO8DmMt
— Western Lensman (@WesternLensman) April 22, 2024
Nearly all of our main establishments are crumbling, nearly each sector of our society is within the means of melting down, and circumstances are quickly getting worse throughout us.
And now we’re heading into essentially the most chaotic election season in the whole historical past of our nation.
It is a recipe for catastrophe, however there isn’t a turning again now.
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Michael’s new e-book entitled “Chaos” is out there in paperback and for the Kindle on Amazon.com, and you’ll try his new Substack publication right here.
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