Friday, February 5, 2016

The Economy in a Nutshell! - by Jerome Corsi

Meanwhile, popular economic blog took the air out of President Obama’s announcement Friday that unemployment has fallen to 4.9 percent by pointing out that 70 percent of the job gains in January went to minimum-wage workers. further reported that 1.4 million relatively high-paying manufacturing jobs lost by the U.S. economy since December 2007 have been replaced by 1.6 million relatively low-paying waiter and bartender jobs created in the U.S. economy.
Since December 2007, considered by many to be the start of the current prolonged recession that suggests has the possibility of developing into a second Great Depression, all job gains in the U.S. economy have gone to foreign-born workers.
According to the Bureau of Labor Statistics, since December 2007, the U.S. has added just 186,000 native-born workers while adding 2.5 million foreign workers.