Founder and CEO, CHIPPEWA PARTNERS, Native American Advisors, Inc. Member, White Earth Chippewa Reservation helping Natives for four decades. Raised conservative in the color of friend and Crow Chief, Robert Yellow Tail. Trained on Wall Street in 1982/83. In a world on a total dopamine, hypomanic binge, this is his take on financial chicanery, political crime, Native issues and life well lived. Written from the trading desk at the Ghost Ranch in MT or Pamelot, his TN farm with no apologies.
Friday, June 01, 2018
Does ANYONE work in America?
In May, the number of people not in the labor force increased by another 170K, rising to 95.915 million, a new all time high.
Adding to this the 6.1 million currently unemployed Americans, there are 102 million Americans who are either unemployed or out of the labor force (and it is also worth noting that of those employed 26.9 million are part-time workers).
In other words, contrary to prevailing economist groupthink, there is slack in the economy, and if as the latest Beige Book revealed, employers are now hiring drug addicts and felons to make up for the shortage of qualified candidates, a long time will be pass before wages see significant gains.