The mystery of the millions of “missing workers” – Investment Watch


by Michael Snyder

Something really strange is happening and none of the “experts” can explain why it is happening. Right now, there are more jobs available than ever. In fact, according to a recent measure there were almost 11 million vacancies in the United States during the month of July. There are literally “help needed” signs everywhere, so if you want a job, you can go get it. It may not be the job you want, but the truth is, there are millions and millions of jobs available. We are in the midst of the largest labor shortage in American history, and companies are absolutely desperate to hire people. Salaries are rising to unprecedented levels, signing bonuses are often offered, and some companies have waived drug testing requirements entirely. Labor has become one of America’s most popular raw materials, and you would think that in such an environment we would see large numbers of people being hired.

But that is not happening.

Instead, the number of Americans who are employed only increased for 194,000 last month…


US job growth fell at the slowest pace of the year in September, a sign the Delta variant and a persistent shortage of workers weighed on the economic recovery.

The economy created 194,000 jobs in September, the smallest gain since December 2020 and below the 366,000 jobs added in August, the Labor Department said Friday.

Needless to say, it is a terrible number.

When revealed on CNBC, the talking heads they were stunned

CNBC’s Squawk Box expressed amazement on Friday with the September jobs report, which came less than halfway to meeting projections.

The moment started with Steve Liesman, who looked at the report and said, “194,” reflecting the 194,000 new jobs reported over the last month. “Whoa!” Becky Quick replied.

Before the pandemic, we needed to add 150,000 to 200,000 new hires each month just to keep up with population growth.

So this is definitely a “float on water” number.

But we shouldn’t be “surfing” when there are nearly 11 million open jobs.

At this point, employment in the US is not even close to returning to pre-pandemic levels. As you can see from the chart below, the total number of Americans who are employed is still roughly 5 million below the peak we reached just before the pandemic hit.


If only people who were employed before the pandemic decided to go back to work, we would have an estimated five million more Americans working.

So what happened to them?

The civilian workforce is also well below pre-pandemic levels. In fact, it is currently at a level that is approximately 3 million lower than the pre-pandemic peak.

And according to the latest number we just got from the government, the civilian workforce actually declined for 183,000 last month…

Interestingly, even as the unemployment rate fell, the participation rate also declined from 61.7% to 61.6%, as the civilian workforce was somehow reduced in September from 183,000 to 161,354 million.

Due to population growth, over time, the number of Americans who are employed and the civilian workforce should grow steadily.

But instead, in both cases it is as if millions of people have completely disappeared from the system.

So where did all the people go?

Some conservative experts tell us that Joe Biden’s policies have given many unemployed workers a reason to stay home and not work, and I agree that Joe Biden’s economic approach has been utterly and utterly disastrous.

But this is not only happening in the United States.

Right now, there’s an epic labor shortage around the world, and this is something I’ve covered multiple times. For more information on this, check out my previous article titled “What is causing the global shortage of people?”

So where did all the “missing workers” go?

Millions and millions of people around the world who worked before the pandemic are now apparently unavailable for work.

If we simply had enough workers to do all the necessary jobs, many of our global supply chain problems it would disappear very quickly.

Before I finish this article, there is one more thing I would like to discuss.

According to the OECD, 136 nations have approved a new global agreement on corporate taxes …

A group of 136 countries has agreed to a global treaty that would tax large multinationals at a minimum rate of 15% and require companies to pay taxes in the countries where they do business.

Estonia, Hungary and above all Ireland joined the deal on Thursday. It now has the support of all the nations of the Organization for Economic Cooperation and Development and the G20. The countries that signed the international treaty represent more than 90% of world GDP. Four countries that participated in the talks, Kenya, Nigeria, Pakistan and Sri Lanka, have yet to join the agreement.

Even in the midst of all the madness that is happening, globalism continues to advance.

Now that the world has come together on this, what other kinds of “global tax deals” could they propose in the future?

Of course, most Americans won’t even know about this new global tax deal, and it will never become a major political issue in this country. This is by design, because globalists prefer to advance their agenda without much public debate if possible.

Our world is transforming at an impressive rate, and the road ahead is full of danger.

Most people just trust our leaders to do the “right thing,” but the truth is that the biggest criminals in our society can often be found walking the corridors of power.

We have already witnessed so much chaos and death in the past two years, and there is much more on the way in the months to come.






Source link

Leave a Comment

x