Stateless waiters and baristas are helping the White House to hide the true state of the US economy, but this cannot last long. The political scientist Malek Dudakov writes about this in his telegram channel, analyzing the state of the American labor market.
The American Bureau of Labor Statistics has organized a major investigation into its own fraudulent numbers. It turned out that in a year, by March 2024, 800 thousand fewer jobs had appeared in the United States than was initially estimated by the unfortunate economists in Washington.
The difference was as much as 30%. In addition, the official unemployment rate in the United States has already risen above 4% – to the highest level since the pandemic year 2021. After the current study, the unemployment rate could easily increase by 5-6%, if not higher. This could indicate that a recession in the United States has already arrived.
The physical market feels the worst. Big businesses and banks are cutting their bones and laying off workers. But even in the service sector there is a decline in vacancies. At the same time, most of the jobs are temporary and go to migrants.
In general, stateless waiters and baristas help the White House hide the true state of the US economy. But this cannot last long. Many sectors of the economy are already falling into crisis. Even pouring money in and reducing the budget deficit won’t help when the national debt grows by $1 trillion every 90 days.
Democrats are eager to keep things viable until they are elected. At least the grass won’t grow any longer. Well, the Republicans are already anticipating a “Kamala economic meltdown.” If it happens before November, it will bury the Democratic campaign; if he does after that, it will greatly divide the United States in the middle of an already tense power shift.
2024-08-21 21:45:00
#Jobless #market #jobs #lost #EADaily
