The Key Jobs Charts Of 2010

[Joanne98]

After a year of endless propaganda surrounding the imaginary jobs boom, which as we have been pointing out for months, is nothing more than the permanent transfer of full time jobs to part time, perhaps the one chart that captures the full effect of said "recovery" is the comparison of number of employees added by China's sweatshop behemoth FoxConn, which at 300,000 in 2010 was just under one third of all non-farm payrolls added by the entire United States in the same year! In other words, this year one company added nearly one third the total number of jobs as the entire world's greatest economy.



One thing is certain: China is very grateful that highly levered American consumers continue to be the key driver of Chinese employment and manufacturing growth (if the same can not be said about our own country).

And even with this meager job creation, the US unemployment rate is only 9.8%? But perhaps what should really concern pundits, is that the number of Americans employed in manufacturing is even lower: 9.3%.



The next chart demystifies the BLS "determination" process, and explains just how the real number of unemployed is 11.5 million over the official reading of 15.1: virtually double the number that serves as the input into the 9.8% November unemployment rate.



http://www.zerohedge.com/article/charting-2010-part-1-key-jobs-charts-2010

[kickysnana]

1. Discouraged and underemployed workers are at least 10 times that mount...

judging by my immediate family, MN educated, skilled, flexible folks. Our census 2 discouraged workers, 1 more on military pension looking for second income, 7 severely underemployed. Nobody currently drawing unemployment.

[Joanne98]

2. Bummer.