The September U.S. jobs was reported as having marked a “stall” in an alleged economic recovery from the 2020 “pandemic” collapse; but it actually showed something far worse: The civilian labor force had shrunk by 1.4 million since the start of the Summer, and the number of Americans in the “civilian non-institutionalized population” who were out of the labor force had gone over 100 million for the first time, to 100.5 million. That’s 10 million more labor force dropouts than at the time of the 2008 financial crash. The Americans out of the labor force rose by 175,000 in the month of September alone.
Underlying this shrinkage is the most fundamental U.S. economic fact: No new productive employment at all, of any kind, created since the breakdown began with the September 2019 “repo crisis” and the Federal Reserve began QE5. The terrific pace of money printing since then – driving Federal Reserve assets from $3.75 trillion to the present $8.5 trillion in two years – ; combined with $5 trillion in Treasury funds for “COVID relief” of various kinds, has inundated an economy with no new productive employment, to trigger runaway inflation. The only legislation in years that might have added some construction and engineering employment, the pending “bipartisan infrastructure bill,” has been deliberately postponed by the Democratic majority in Congress, looking for $3.5 trillion more “household aid” first.
