Why 102 Million Americans Do Not Have A Job Right Now with Michael Snyder

Why 102 Million Americans Do Not Have A Job Right Now with Michael Snyder

Michael Snyder joins Greenelines to explain why 102 million Americans are unable to find a job when unemployment is down. Listen to learn the two different areas the government categorizes employment and the role debt plays on our nation.

21 Minutes • 23 days ago

Episode Notes

Greenelines with

Dr. Steve Greene

Guest: Michael Snyder

Michael Snyder joins Greenelines to explain why 102 million Americans are unable to find a job when unemployment is down. Listen to learn the two different areas the government categorizes employment and the role debt plays on our nation.

Introduction

Dr. Steve Greene: This is the Greenelines podcast. I'm Steve Greene on the Charisma Podcast Network. I'd like to tell you about a series that's available to you now through Charisma. Many of you have seen bits and pieces of maybe one of these books, The Deborah Anointing, The Esther Anointing, The Anna Anointing, and The Ruth Anointing, plus a free bonus all in the Solid Rock Series. You're going to get all four anointing books by Michelle McClain-Walters, plus a Charisma subscription and to Life in the Spirit devotions for only $36. I want to say that part of it again. You're going to get all four of those anointing books by Michelle McClain Walters. Plus, you'll receive a Charisma subscription, a subscription to Charisma magazine, and then you'll get two Life in a Spirit devotionals for only $36. Now, you can find this at charismamag.com/anoint. Or, you can just look right here, down below this podcast in the show notes and you'll see the link to charisma mag.com backslash anoint. I know you'll love these books, and I know you'll love the free bonuses and a subscription to charisma magazine. Now let's get to the show.

Dr. Steve Greene: So how about this for a headline? Nearly 102 million Americans did not have a job right now. How many of you would have thought it was that high? It's worse than any point during the last recession. With that headline, you know who I must be talking to, my friend, and our guest, I've asked him to be a regular guest on the podcast. He's the only person that I've ever asked to be regular because he's got so much good material. He's prolific. I know that most of you know about his websites, will ask him to share both with us today. But first of all, Michael Snyder, welcome back to the green lines podcast. How's your family?

Michael Snyder: Doing well. Miranda is actually out with the kids right as we're doing this interview. She’s taking the kids out to the park and meeting up with some other mothers. So, we really enjoy life up here in the mountains. But I always look forward to when I get to chat with you and share with the audience.

 

Michael Snyder on Greenelines

·         Clinton for President in 2020? Say It Isn’t So

·         Market Drop is Definitely Coming, and It’s a Doozy

·         Is America Committing Suicide with the Skyrocketing National Debt?

·         Why the Stock Market Could Be Primed for a Big Meltdown

·         10 Numbers That Prove America’s Financial Condition is a Horror Show

 

Dr. Steve Greene: So, this headline I read. This is troublesome, worrisome. What do we do with it?

Michael Snyder: One of the main things I do is write about economics and where we're at. A lot of people around the country, they'll write to me and they'll say, Michael, I hear all these positive headlines in the mainstream media, but I'm not seeing it. The people around me are struggling, people are losing jobs, and things aren't going well for a lot of people around me. So, what's the deal? I don't understand. So, I try to put things in context for people. When we go back to the last recession, it really was horrible because millions of Americans lost their jobs. And, of course, so many people are living right on the financial edge. They couldn't pay the bills, they couldn’t pay the mortgages, it was a really tough time. Since that time, the main narrative in the mainstream media has been oh, things are better, unemployment falling to the lowest level in decades. But that's not really telling an accurate story of what we're facing. In fact, today, right now, there are more working-age Americans that don't have a job than during the last recession. A lot of people say Michael, how could that be possible because we're told that the number of unemployed Americans has gone down. That actually true. But what people need to understand is there's two categories. When Americans don't have a job, they go either into the category of being officially unemployed, but the other category is referred to as “not in the labor force.” So, in both cases, people don't have a job. But it's a matter of how the federal government categorizes them. So, we've seen the number of officially unemployed go down. One of the reasons for that is because over the years, they made it harder to get unemployment benefits. But meanwhile, those that are not in the labor force have been going up and up and up and up. Of course, those not in the labor forces have been soaring to one all-time high after another.

 

Listen to Michael Snyder on Greenelines

·         The Moral Collapse is Spinning Out of Control with Michael Snyder

·         Michael Snyder Asks: Are We Destroying the Future to Live in the Present

 

So, today, when we add the 6.2 million Americans that are officially unemployed, but then we have to add that number to 95.577 million that are not in the labor force, that gives us a grand total of nearly 102 million Americans, working-age Americans that don't have a job right now. That's higher than at any point during the last recession. At any point during the last recession, that number never rose to the level of 100 million. So, we're actually above that level. Now, of course, the U.S. population has grown since that time, and that accounts for some of it. But in general, when you look at the population as a whole, we're not seeing the same level of participation in the labor force that we saw prior to the last recession. For example, on my website, I've got a chart is called the Civilian Labor Force Participation Rate. Just before the last recession, we were sitting at about 66 percent of the population that was engaged in the labor force. Then the recession hit and steadily fell. It finally bottomed out between 62 and 63 percent and stayed there for a number of years. Now at this point, the latest reading is 63 percent. But it's still way below the 66 percent we were at just prior to the last recession. So, somewhere along the way, we've literally lost millions of people that have fallen out of the labor force permanently, completely. That's never recovered. So, we've never really recovered from where we were just before the last recession. Fortunately, over the last few years, we've seen a stabilization. But as I've documented on my website, we're seeing all kinds of trouble signs in the economy right now. The auto industry is deeply struggling, manufacturing is down, inventories are rising. We're on pace to absolutely shatter the all-time record for retail store closings in a single year. In fact, more retail store closings have already been announced this year and we're just in April, have already been announced this year than in all of last year for the entire year. So, we're starting to see all kinds of … the middle of the country, the farmers devastated by the recent flooding … basically, we're seeing more farm bankruptcies than we've seen since the last recession. I mean, just trouble spots all over the economy. So, people are deeply concerned. But a lot of what is being said about how well the economy is doing is not really painting an entire picture.

Dr. Steve Greene: It sounds worse than I thought it was. But at the same time, I know the boomers are aging into that not in labor force or 81 million boomers in that demo. Could that explain some of it, the fact that we're just aging out of the labor market?

 

Michael Snyder Books

·         Living a Life That Really Matters

·         The Rapture Verdict

 

Michael Snyder: Oh, true. I mean, we're seeing baby boomers retire in unprecedented numbers. And that's creating a huge problem because there's not enough workers to support Social Security and Medicare and so forth moving forward. The number of unemployed workers per retiree is at an all-time low right now, which is a huge problem. And that’s certainly playing into the number of Americans not in the labor force. But overall, for example, John Williams of shadowstats.com tracks what the real employment figure would be in this country if honest numbers were being used. He's done this for many, many years. But according to him, if honest numbers were being used, the real rate of employment in the U.S. right now would be 21.2 percent. That's slightly lower than it was a few years ago when things were really, really bad. So we've seen a slight amount of improvement, but not anywhere near where we were prior to the last recession. A lot of times people can’t take the federal government numbers at face value. For example, you look at the rate of inflation has been changed literally dozens of times since the 1970s, where they keep tweaking the formula to make inflation look low. But then you go to the grocery store, I know whenever I go to the grocery store, and I get up to the checkout line, I want to ask, well, which organ do you want me to donate to pay for my groceries today? It's insane. I remember in the old days, I could fill up my entire grocery cart for like $25. Now, sometimes I literally get up there and it’s … I don't even have a full cart and cost me somewhere around $200.

Dr. Steve Greene: But you have four kids now, right?

Michael Snyder: I do I do, and also three cats, but it adds up, it is expensive.

Dr. Steve Greene: Michael, how bad do you think underemployment is in our country today?

Michael Snyder: It's a huge problem. Because according to the Social Security Administration, about half the country makes around $30,000 a year or less. You can't raise a middle-class family on about $30,000 a year. So, wages are not real high. People are struggling because wages have not come up, kept up with the cost of living. You look at health insurance, many families are paying $500 or even $1,000 a month for health insurance. But wages have been very, very stagnant. There's not a lot of good jobs, a lot of people are working part-time. So, it's not only just people that have a job, but a lot of people that do have a job, but they're working poor. They can't …. and certainly a lot of people are struggling, going into debt. We're seeing delinquency rates on car loans, the highest since the last recession. People are struggling to pay the bills. And, certainly, people can't put away anything. That's when people say, well, what can I do, Michael? The No. 1 thing I always recommend to people is you need to have an emergency fund. You need to have something you can fall back on so that if you lose a job, there's a medical emergency, things get tight, the economy turns down, whatever it is in life, things happen, that you have a cushion to fall back on. But most Americans don't have that. One recent survey found that well over half of all Americans are living paycheck to paycheck, at least part of the time. So. most people don't have a cushion. But, as long as everything goes right, they are fine. But then something happens in life … and something is eventually going to happen. Well, then all of a sudden, people are in financial hardship because they don't have anything to fall back on.

Dr. Steve Greene: So, your advice to our listeners today … we're not a scare, podcast, we don't want people to worry because we have a kingdom economy that we trust. But at the same time, you can give meaningful advice to the listeners, and help us as we go forward considering the signs you see in the economy. Great days are not ahead. How do we respond?

Michael Snyder: As I just mentioned, you want to try to build up a financial cushion and emergency fund, if you can. Another thing that is a scriptural principle is the borrower is the servant of the lender. It's always not a great idea to have a whole lot of debt. It’s especially true in hard times. We remember the last recession, the last financial crisis we saw foreclosure rates go through the roof because people are living on the edge. When you lose a job, you can't pay your mortgage, then pretty quickly, the a formerly middle-class family is out on the street. You don't want to be in that situation. So, getting out of debt is so key. I recently wrote another article that talked about how in America, most of the focus is on our $22 trillion national debt. That is an existential threat to the future of our nation. But when you add up all forms of debt, including not only our national debt, but the debts of all levels of government, state, local government, corporate debt is at an all-time high, doubled since the last financial crisis. U.S. consumers are more than $13 trillion in debt. You add up all the forms of debt, according to the Federal Reserve, America is now $72 trillion in debt. When you break that down, that comes to $220,000, for every man, woman, and child in the entire country. And so, us having a family of four, well, our share would be $180,000 to pay off all that debt. We don't have that. And of course, most of the listeners today couldn’t pay off their share. It’s so much debt, our society is never going to be able to pay it off. The only thing that can really be done now is to keep the bubble expanding and going until it inevitably bursts, but to try to put that off for as long as possible. On an individual level, we can take responsibility for where we're at in trying to get out of debt, not taking on more debt, living within our means. That's going to put you in the best position possible when things do get tight, when the economy eventually does fall into a new recession, you will be lean and mean and the best prepared possible to get through what's ahead and to be able to provide for your family.

 Connect with Michael Snyder

·         Theeconomiccollapseblog.com

·         Endoftheamericandream.com

·         On Facebook

·         On Twitter

 

Greenelines Host Information

Dr. Steve Greene is the Publisher and Executive Vice President of Charisma Media. Dr. Greene received his Ph.D. in marketing from Memphis State University. He has worked in television station management and worked directly with over 80 stations throughout the United States. He has worked in marketing capacities with McDonald’s, Jiffy Lube, and Stanley Steemer. He has owned restaurants, a national advertising agency and a syndicated marketing research firm. Dr. Greene has served as the Dean of the College of Business and professor of marketing at Oral Roberts University. He is also the author of Love Leads, which dispels the myths and misconceptions many have come to accept about leadership.

To learn more about Dr. Steve Greene, connect with him on social media!

Facebook: https://facebook.com/drsgreene/

Twitter: https://twitter.com/DrSteveGreene

Instagram: https://www.instagram.com/dr.stevegreene/

Episode Notes

Greenelines with

Dr. Steve Greene

Guest: Michael Snyder

Michael Snyder joins Greenelines to explain why 102 million Americans are unable to find a job when unemployment is down. Listen to learn the two different areas the government categorizes employment and the role debt plays on our nation.

Introduction

Dr. Steve Greene: This is the Greenelines podcast. I'm Steve Greene on the Charisma Podcast Network. I'd like to tell you about a series that's available to you now through Charisma. Many of you have seen bits and pieces of maybe one of these books, The Deborah Anointing, The Esther Anointing, The Anna Anointing, and The Ruth Anointing, plus a free bonus all in the Solid Rock Series. You're going to get all four anointing books by Michelle McClain-Walters, plus a Charisma subscription and to Life in the Spirit devotions for only $36. I want to say that part of it again. You're going to get all four of those anointing books by Michelle McClain Walters. Plus, you'll receive a Charisma subscription, a subscription to Charisma magazine, and then you'll get two Life in a Spirit devotionals for only $36. Now, you can find this at charismamag.com/anoint. Or, you can just look right here, down below this podcast in the show notes and you'll see the link to charisma mag.com backslash anoint. I know you'll love these books, and I know you'll love the free bonuses and a subscription to charisma magazine. Now let's get to the show.

Dr. Steve Greene: So how about this for a headline? Nearly 102 million Americans did not have a job right now. How many of you would have thought it was that high? It's worse than any point during the last recession. With that headline, you know who I must be talking to, my friend, and our guest, I've asked him to be a regular guest on the podcast. He's the only person that I've ever asked to be regular because he's got so much good material. He's prolific. I know that most of you know about his websites, will ask him to share both with us today. But first of all, Michael Snyder, welcome back to the green lines podcast. How's your family?

Michael Snyder: Doing well. Miranda is actually out with the kids right as we're doing this interview. She’s taking the kids out to the park and meeting up with some other mothers. So, we really enjoy life up here in the mountains. But I always look forward to when I get to chat with you and share with the audience.

 

Michael Snyder on Greenelines

·         Clinton for President in 2020? Say It Isn’t So

·         Market Drop is Definitely Coming, and It’s a Doozy

·         Is America Committing Suicide with the Skyrocketing National Debt?

·         Why the Stock Market Could Be Primed for a Big Meltdown

·         10 Numbers That Prove America’s Financial Condition is a Horror Show

 

Dr. Steve Greene: So, this headline I read. This is troublesome, worrisome. What do we do with it?

Michael Snyder: One of the main things I do is write about economics and where we're at. A lot of people around the country, they'll write to me and they'll say, Michael, I hear all these positive headlines in the mainstream media, but I'm not seeing it. The people around me are struggling, people are losing jobs, and things aren't going well for a lot of people around me. So, what's the deal? I don't understand. So, I try to put things in context for people. When we go back to the last recession, it really was horrible because millions of Americans lost their jobs. And, of course, so many people are living right on the financial edge. They couldn't pay the bills, they couldn’t pay the mortgages, it was a really tough time. Since that time, the main narrative in the mainstream media has been oh, things are better, unemployment falling to the lowest level in decades. But that's not really telling an accurate story of what we're facing. In fact, today, right now, there are more working-age Americans that don't have a job than during the last recession. A lot of people say Michael, how could that be possible because we're told that the number of unemployed Americans has gone down. That actually true. But what people need to understand is there's two categories. When Americans don't have a job, they go either into the category of being officially unemployed, but the other category is referred to as “not in the labor force.” So, in both cases, people don't have a job. But it's a matter of how the federal government categorizes them. So, we've seen the number of officially unemployed go down. One of the reasons for that is because over the years, they made it harder to get unemployment benefits. But meanwhile, those that are not in the labor force have been going up and up and up and up. Of course, those not in the labor forces have been soaring to one all-time high after another.

 

Listen to Michael Snyder on Greenelines

·         The Moral Collapse is Spinning Out of Control with Michael Snyder

·         Michael Snyder Asks: Are We Destroying the Future to Live in the Present

 

So, today, when we add the 6.2 million Americans that are officially unemployed, but then we have to add that number to 95.577 million that are not in the labor force, that gives us a grand total of nearly 102 million Americans, working-age Americans that don't have a job right now. That's higher than at any point during the last recession. At any point during the last recession, that number never rose to the level of 100 million. So, we're actually above that level. Now, of course, the U.S. population has grown since that time, and that accounts for some of it. But in general, when you look at the population as a whole, we're not seeing the same level of participation in the labor force that we saw prior to the last recession. For example, on my website, I've got a chart is called the Civilian Labor Force Participation Rate. Just before the last recession, we were sitting at about 66 percent of the population that was engaged in the labor force. Then the recession hit and steadily fell. It finally bottomed out between 62 and 63 percent and stayed there for a number of years. Now at this point, the latest reading is 63 percent. But it's still way below the 66 percent we were at just prior to the last recession. So, somewhere along the way, we've literally lost millions of people that have fallen out of the labor force permanently, completely. That's never recovered. So, we've never really recovered from where we were just before the last recession. Fortunately, over the last few years, we've seen a stabilization. But as I've documented on my website, we're seeing all kinds of trouble signs in the economy right now. The auto industry is deeply struggling, manufacturing is down, inventories are rising. We're on pace to absolutely shatter the all-time record for retail store closings in a single year. In fact, more retail store closings have already been announced this year and we're just in April, have already been announced this year than in all of last year for the entire year. So, we're starting to see all kinds of … the middle of the country, the farmers devastated by the recent flooding … basically, we're seeing more farm bankruptcies than we've seen since the last recession. I mean, just trouble spots all over the economy. So, people are deeply concerned. But a lot of what is being said about how well the economy is doing is not really painting an entire picture.

Dr. Steve Greene: It sounds worse than I thought it was. But at the same time, I know the boomers are aging into that not in labor force or 81 million boomers in that demo. Could that explain some of it, the fact that we're just aging out of the labor market?

 

Michael Snyder Books

·         Living a Life That Really Matters

·         The Rapture Verdict

 

Michael Snyder: Oh, true. I mean, we're seeing baby boomers retire in unprecedented numbers. And that's creating a huge problem because there's not enough workers to support Social Security and Medicare and so forth moving forward. The number of unemployed workers per retiree is at an all-time low right now, which is a huge problem. And that’s certainly playing into the number of Americans not in the labor force. But overall, for example, John Williams of shadowstats.com tracks what the real employment figure would be in this country if honest numbers were being used. He's done this for many, many years. But according to him, if honest numbers were being used, the real rate of employment in the U.S. right now would be 21.2 percent. That's slightly lower than it was a few years ago when things were really, really bad. So we've seen a slight amount of improvement, but not anywhere near where we were prior to the last recession. A lot of times people can’t take the federal government numbers at face value. For example, you look at the rate of inflation has been changed literally dozens of times since the 1970s, where they keep tweaking the formula to make inflation look low. But then you go to the grocery store, I know whenever I go to the grocery store, and I get up to the checkout line, I want to ask, well, which organ do you want me to donate to pay for my groceries today? It's insane. I remember in the old days, I could fill up my entire grocery cart for like $25. Now, sometimes I literally get up there and it’s … I don't even have a full cart and cost me somewhere around $200.

Dr. Steve Greene: But you have four kids now, right?

Michael Snyder: I do I do, and also three cats, but it adds up, it is expensive.

Dr. Steve Greene: Michael, how bad do you think underemployment is in our country today?

Michael Snyder: It's a huge problem. Because according to the Social Security Administration, about half the country makes around $30,000 a year or less. You can't raise a middle-class family on about $30,000 a year. So, wages are not real high. People are struggling because wages have not come up, kept up with the cost of living. You look at health insurance, many families are paying $500 or even $1,000 a month for health insurance. But wages have been very, very stagnant. There's not a lot of good jobs, a lot of people are working part-time. So, it's not only just people that have a job, but a lot of people that do have a job, but they're working poor. They can't …. and certainly a lot of people are struggling, going into debt. We're seeing delinquency rates on car loans, the highest since the last recession. People are struggling to pay the bills. And, certainly, people can't put away anything. That's when people say, well, what can I do, Michael? The No. 1 thing I always recommend to people is you need to have an emergency fund. You need to have something you can fall back on so that if you lose a job, there's a medical emergency, things get tight, the economy turns down, whatever it is in life, things happen, that you have a cushion to fall back on. But most Americans don't have that. One recent survey found that well over half of all Americans are living paycheck to paycheck, at least part of the time. So. most people don't have a cushion. But, as long as everything goes right, they are fine. But then something happens in life … and something is eventually going to happen. Well, then all of a sudden, people are in financial hardship because they don't have anything to fall back on.

Dr. Steve Greene: So, your advice to our listeners today … we're not a scare, podcast, we don't want people to worry because we have a kingdom economy that we trust. But at the same time, you can give meaningful advice to the listeners, and help us as we go forward considering the signs you see in the economy. Great days are not ahead. How do we respond?

Michael Snyder: As I just mentioned, you want to try to build up a financial cushion and emergency fund, if you can. Another thing that is a scriptural principle is the borrower is the servant of the lender. It's always not a great idea to have a whole lot of debt. It’s especially true in hard times. We remember the last recession, the last financial crisis we saw foreclosure rates go through the roof because people are living on the edge. When you lose a job, you can't pay your mortgage, then pretty quickly, the a formerly middle-class family is out on the street. You don't want to be in that situation. So, getting out of debt is so key. I recently wrote another article that talked about how in America, most of the focus is on our $22 trillion national debt. That is an existential threat to the future of our nation. But when you add up all forms of debt, including not only our national debt, but the debts of all levels of government, state, local government, corporate debt is at an all-time high, doubled since the last financial crisis. U.S. consumers are more than $13 trillion in debt. You add up all the forms of debt, according to the Federal Reserve, America is now $72 trillion in debt. When you break that down, that comes to $220,000, for every man, woman, and child in the entire country. And so, us having a family of four, well, our share would be $180,000 to pay off all that debt. We don't have that. And of course, most of the listeners today couldn’t pay off their share. It’s so much debt, our society is never going to be able to pay it off. The only thing that can really be done now is to keep the bubble expanding and going until it inevitably bursts, but to try to put that off for as long as possible. On an individual level, we can take responsibility for where we're at in trying to get out of debt, not taking on more debt, living within our means. That's going to put you in the best position possible when things do get tight, when the economy eventually does fall into a new recession, you will be lean and mean and the best prepared possible to get through what's ahead and to be able to provide for your family.

 Connect with Michael Snyder

·         Theeconomiccollapseblog.com

·         Endoftheamericandream.com

·         On Facebook

·         On Twitter

 

Greenelines Host Information

Dr. Steve Greene is the Publisher and Executive Vice President of Charisma Media. Dr. Greene received his Ph.D. in marketing from Memphis State University. He has worked in television station management and worked directly with over 80 stations throughout the United States. He has worked in marketing capacities with McDonald’s, Jiffy Lube, and Stanley Steemer. He has owned restaurants, a national advertising agency and a syndicated marketing research firm. Dr. Greene has served as the Dean of the College of Business and professor of marketing at Oral Roberts University. He is also the author of Love Leads, which dispels the myths and misconceptions many have come to accept about leadership.

To learn more about Dr. Steve Greene, connect with him on social media!

Facebook: https://facebook.com/drsgreene/

Twitter: https://twitter.com/DrSteveGreene

Instagram: https://www.instagram.com/dr.stevegreene/

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Why 102 Million Americans Do Not Have A Job Right Now with Michael Snyder