
Sign up to save your podcasts
Or
the latest US Labor Dept jobs out today show a rapidly deteriorating jobs market. Not just in the media oft-cited CES (large corporations) jobs data but in the Labor Dept’s second CPS survey that picks up smaller businesses which is retreating even faster. CES jobs for October rose a mere 12,000. (And previous months were revised down to an average jobs growth of only 67,000/mo. July-Sept. Even worse, the CPS jobs survey showed -220,000 net employment fall in October. Full time jobs continued to disappear while part time rose. Other negative job stats were discussed in the show. Slowing jobs picture contradicts media hype the economy was doing great in third quarter. The second half of the show discusses the 3 existential issues in the current US election being totally ignored by both Harris and Trump: the massive and accelerating US budget deficits, national debt and interest payments on the debt, the big Austerity spending cuts coming in 2025 regardless who wins the election, and the BRICS challenge to the very foundations of the US global economy empire that is developing further as well with 13 new BRICS members joining the current 10. (For more on my analysis of the BRICS check out my Youtube interview along with Indian economist, S.L.Kanthan, at https://www.youtube.com/live/veY2FoKsyuY )
4.8
2525 ratings
the latest US Labor Dept jobs out today show a rapidly deteriorating jobs market. Not just in the media oft-cited CES (large corporations) jobs data but in the Labor Dept’s second CPS survey that picks up smaller businesses which is retreating even faster. CES jobs for October rose a mere 12,000. (And previous months were revised down to an average jobs growth of only 67,000/mo. July-Sept. Even worse, the CPS jobs survey showed -220,000 net employment fall in October. Full time jobs continued to disappear while part time rose. Other negative job stats were discussed in the show. Slowing jobs picture contradicts media hype the economy was doing great in third quarter. The second half of the show discusses the 3 existential issues in the current US election being totally ignored by both Harris and Trump: the massive and accelerating US budget deficits, national debt and interest payments on the debt, the big Austerity spending cuts coming in 2025 regardless who wins the election, and the BRICS challenge to the very foundations of the US global economy empire that is developing further as well with 13 new BRICS members joining the current 10. (For more on my analysis of the BRICS check out my Youtube interview along with Indian economist, S.L.Kanthan, at https://www.youtube.com/live/veY2FoKsyuY )
493 Listeners
439 Listeners
1,198 Listeners
615 Listeners
916 Listeners
485 Listeners
1,973 Listeners
391 Listeners
603 Listeners
4,425 Listeners
857 Listeners
295 Listeners
1,156 Listeners
280 Listeners
49 Listeners