Peter Schiff: The Latest Jobs Report Was Anything But Strong

In reality the percentage of Americans in the workforce continues to drop. The unemployment rate held steady at 3.9%, but more people simply dropped out of the labor force.

TheConfirmationFiles

The August jobs report came out last Friday. Mike Maharrey offered a little bit of analysis during the Friday Gold Wrap podcast, saying he was skeptical that the actual employment situation is as great as the mainstream seems to think. Peter Schiff offered a more in-depth breakdown of the employment report in his latest podcast, saying it was “anything but strong.”

The headline number was the 201,000 jobs employers added last month. That came in above expectations, and as Peter noted, people tend to get excited when the number pushes north of 200K.

“For an economy the size of the United States, this is really not a lot of jobs, even if we were creating 200,000 jobs a month.”

Peter said that lost in all the breathless reporting about that August number was the fact that the labor department revised the previous two months downward. It came to a…

View original post 636 more words

4 thoughts on “Peter Schiff: The Latest Jobs Report Was Anything But Strong

  1. Billionair class always gets what it wants. Public paid for billion dollar sports stadiums. Big fuking lies, about labor statistics. Multitrillion dollar tax cuts. Soon there will be collapse. Like Russia, the ukraine. We will pay

    Like

  2. Important point to consider, as quoted from the article:

    “So, had people not left the labor force then the unemployment rate might have gone up, because maybe some of the people who left the labor force, well, now they’re no longer looking for jobs because they’re no longer part of the labor force. And so if you’re not in the labor force, you can’t be unemployed even though you’re not working.”

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.