Authored by Michael Snyder via The Economic Collapse blog,
According to the absurd numbers that the government feeds us, the unemployment rate is very low and there are lots of jobs available. But if what they are telling us is true, why are so many Americans not able to find work? As you will see below, some people haven’t been hired even though they have literally applied for hundreds of jobs.
There seems to be an enormous disconnect between what is actually happening in the real economy and the economic narrative that they are constantly pushing. By the time you are done reading this article, I think that you will agree with me.
Earlier this week, I received an email from a reader that has not been able to find work after seven months of searching.
He gave me permission to share part of that email with you, and it is certainly quite heartbreaking…
Hi Michael,
I am a long-time reader of theeconomiccollapseblog.com, and your recent article comparing the economy to the movie “Weekend at Bernie’s” really stood out to me.
I’m really trying to figure out WHY it is so hard to find a job.
I was laid off from my job as a Custodial Foreman in September 2023, and have had ZERO results for my countless hours spent searching for comparable work.
I don’t know if you want to use any of this for an article or not, but if you do, please just keep doing what you normally do: Praising Jesus Christ. Without my faith in him I don’t know what I’d do.
When I wake up, I make coffee and turn on the computer and go through the state’s unemployment job search sites they provided me when I was laid off. I have been looking and also applying for jobs DAILY since September 2023. And these are not “rocket science” positions; I’m simply looking for Maintenance or Custodial or Groundskeeper type jobs. You know, “normal working class” type jobs.
But after ~300 applications (And these are all just to the jobs that I not only have experience for but also would actually want to do), I have had 1 interview. One interview in 7 months of applying and sending tailored cover letters with, daily!
If the economy is doing so “great”, why can’t he find employment?
Some of you may be tempted to think that he is just an isolated case.
Well, here is another example of an experienced worker that has applied for approximately 300 jobs without any success…
Royal Siu, who lives in Seattle and is trained as a pharmacist, likes to make his friends guess how many jobs he’s applied to. They’ll often toss out some number around 40, he told BI. He’ll tell them to keep going. Most give up by the time they reach 100. That’s when Siu drops that he’s applied to about 300 jobs. “It’s usually a shock factor to them,” he said.
Siu, who’s trying to use his pharmacy degree to work in other parts of healthcare, is finding it harder to land interviews than in a prior job search. The 28-year-old was getting more phone screenings and first and second interviews in the past. This time, it’s been a couple of months since he had a screening call. So he continues to turn to his network but also doesn’t stop applying.
What in the world is going on here?
I thought that there were “millions” of good jobs just waiting for someone to step into them.
Something definitely does not add up.
Even Americans with advanced degrees from top schools are increasingly finding themselves out of work.
If you doubt this, just check out these numbers…
Even at some top business schools, the number of recently minted M.B.A.s without jobs has roughly doubled from a couple of years ago, when U.S. companies were rushing to hire as many workers as they could, according to data from the schools.
At Harvard Business School, 20% of job-seeking 2023 M.B.A. graduates didn’t have one three months after graduation, up from 8% in 2021. At Stanford’s Graduate School of Business, 18% didn’t, compared with 9% in 2021. About 13% of those at the Massachusetts Institute of Technology’s Sloan School of Management didn’t have a job within three months, up from about 5% in 2021.
How are those numbers possible if the unemployment rate is hovering near “historic lows”?
Of course the truth is that we have been sold a lie.
If you do not have a job, you are classified by the U.S. government as either “unemployed” or “not in the labor force”.
In 2008 and 2009, the combined total of those two categories never even reached 90 million.
Today, the combined total of those two categories is over 106 million.
The Biden administration says that only 6,429,000 Americans are officially “unemployed”.
The other 99,989,000 Americans without a job are considered to be “not in the labor force”.
And more will be lumped into those two categories soon, because large employers all over the nation continue to conduct mass layoffs.
For example, thousands of Tesla workers in California and Texas were just notified that they will be losing their jobs…
The notifications in California and Texas, where the electric vehicle (EV) maker has large presences, came in the form of WARN notices, according to reports.
In California, the planned Tesla headcount reductions will hit approximately 3,300 workers, The San Francisco Standard reported Tuesday.
They will apparently occur at locations in a total of four different cities in the Golden State.
Meanwhile, Texas will see almost 2,700 employees in Austin lose their jobs, according to the Austin American-Statesman.
Sadly, the pace of layoffs is likely to increase during the months ahead, because business activity in the U.S. is declining…
The U.S. economy lost momentum in April, a pair of S&P surveys found, as businesses reported a decline in new orders and reduced employment for the first time since the pandemic.
The flash U.S. manufacturing purchasing managers index slipped to a four-month low of 49.9 in April from 51.9 in March.
The S&P flash U.S. services PMI fell to a five-month low of 50.9 this month from 51.7 in March.
The surveys are the first indicators of each month to give a sense of how the U.S. economy is performing.
Meanwhile, the cost of living crisis just continues to escalate.
Shockingly, at one station in California gasoline now costs $7.29 per gallon…
Soaring gas prices have skyrocketed to a whopping $7.29 per gallon in some parts of California – which is above the current the national hourly minimum wage.
While the average price for a gallon of gas varies from state to state – drivers in a certain Silicon Valley town are facing particularly extortionate rates that set them back almost $150 for a full tank.
The Chevron gas station in Menlo Park was exposed on Sunday by a bewildered customer who posted on X that the price per gallon was four cents ‘above the federal hourly minimum wage.’
If you think that this is bad, just wait until the war in the Middle East transforms into the apocalyptic conflict that I believe it will become.
I am entirely convinced that inflation will continue to be a major problem even as economic activity in the U.S. slows down even more.
We are already experiencing “stagflation”.
What is eventually coming will be so much worse than that.
Of course the economic pain that we are going through is just one of the factors that is systematically destroying our nation.
A Warning to America: 25 Ways the US is Being Destroyed | Explained in Under 2 Minutes pic.twitter.com/qwmBO8DmMt
— Western Lensman (@WesternLensman) April 22, 2024
Just about all of our major institutions are crumbling, just about every sector of our society is in the process of melting down, and conditions are rapidly getting worse all around us.
And now we are heading into the most chaotic election season in the entire history of our country.
This is a recipe for disaster, but there is no turning back now.
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Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
Tyler Durden
Fri, 04/26/2024 – 09:50
