The October jobs report came out today. The numbers were fine, but the media is hyping them as if they are outstanding. They're not. The unemployment rate went down, but there are still about 4 million plus fewer people employed than before the start of the pandemic. That's often attributed to the aging population, but that's just a lie used to cover up the truth. The number of people of working age in the USA declined by about 200,000 people since the start of the pandemic but only if you don't count the million plus illegal aliens who came into the country since Biden got elected. Those people more than make up for the 200,000 decline among working age citizens/legal immigrants. NO, the decline in the work force comes from people who have decided to stop working and to rely on government payments for support. Basically, you and I are paying them not to work. It's a really bad situation since there are labor shortages all across the economy.
A second point that should not be missed in today's report is the big item that wages have gone up about 4.6% over the last year. Sounds great, right? The problem is that prices increased by over 1.5% more than that. In other words, real wages went down. An average worker didn't get enough of a raise just to keep up with the cost of living. People across the USA understand that they are falling behind, but the media just can't bring itself to report that reality. Instead, the media is still trying to paint things in a good light for president Biden.
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