Job growth in the US economy is virtually zero and everyone knows it...
The projected number in the mainstream media of 121,000 is just copy catting the prior months "average" number with no basis in fact...
In truth, there is no hiring going on...
At least not for Americans in the job market. Most new jobs these days go to illegals... The Bush administration has made it clear that it will not enforce labor laws against corporations that hire illegals...
And as more and more of these illegal "new jobs" go unreported...the monthly jobs data will become ever more fictional and unreliable.
MY HUNCH IS THAT THE OCTOBER NUMBER WILL BE WORSE THAN SEPTEMBER...
THE ECONOMY WILL CLAIM TO HAVE "CREATED" 49,000 JOBS IN OCTOBER...IF YOU WANT TO BELIEVE THE GOVERNMENT NUMBER THAT IS...
IN TRUTH PEOPLE ARE DROPPING OUT OF THE LABOR FORCE EN MASSE...!
THAT'S WHY THE UNEMPLOYMENT RATE IS SO LOW.
THE "USUAL SUSPECTS" OF HEALTH CARE, GOVERNMENT AND TEMPS (A/K/A PROFESSIONAL SERVICES)...SIMPLY CAN NOT DO ALL THE HEAVY LIFTING FOREVER...
THE MANUFACTUING DECLINES WILL CONTINUE...EVEN SPEED UP. AND RETAIL AND LEISURE WILL BE HARD PRESSED TO SHOW ANYTHING POSITIVE.
Read it and weep or laugh out loud...CLICK HERE tomorrow morning ABOUT 8:30AM Eastern Time and read all about it....
