The US non-farm payrolls data released on Friday at first focused on an increase in new jobs last month but that was something of a mirage with a record 806,000 people dropping out of the labor market in April taking the percentage of adults employed back to a level not seen since 1978.
If this is a recovery this correspondent is a pink elephant. It follows just 0.1 per cent annualized GDP growth in the first quarter and a spectacular slump in new home sales and mortgage lending.
New book on Fast track available for free! Lori Wallach co-wrote a book called “The Rise and Fall of Fast Track” that is online for free: http://www.fasttrackhistory.org/ Fast Track is a process used in Congress and without it and it is essential for passage of the TOO.
The Trans-Pacific Partnership (TPP) is poised to become the largest Corporate Trade Agreement in U.S. history. The massive trade and investment pact is currently being negotiated behind-closed-doors between the United States and countries throughout the Pacific Rim — except for 600 big business advisers who are helping to write the law.
If you still have a good job, you might want to hold on to it very tightly because there are a whole bunch of signs that unemployment in the United States is about to start getting worse again. Over the past several weeks, a substantial number of large corporations have announced disappointing earnings for the third quarter. Many of those large corporations are also loaded up with huge amounts of debt.