Jim Clifton (CEO at Gallup): Unemployment will Get WORSE in 2014

03 Economy
Jim Clifton, CEO Gallup
Jim Clifton, CEO Gallup

Unemployment Will Get Worse in 2014

President Barack Obama gave a major economic policy speech yesterday. Here’s what he didn’t say, and probably won’t ever say: Businesses will not begin new, significant hiring this year or in 2014.

Business leaders around the country tell me they’re not thinking about new hires right now. Rather, their sole focus is on how to win new customers. Too few people know this, but employees follow customer growth, not the other way around. Most importantly, businesses want to survive. They’ve cut everything to the bone and stored cash, and they won’t risk anything until they experience customer growth. New hires don’t solve their problems.

. . . . . .

Click on Image to Enlarge
Click on Image to Enlarge

Bluntly, the jobs picture is not improving, despite what you hear in the news, and it will get worse. Yes, businesses are sitting on billions of dollars in cash and productivity gains and the stock market has been rallying. But those businesses are hoarding that cash because they still lack that all-important state of mind and spirit: confidence.

Read full article.

Phi Beta Iota:  The situation is much worse than Mr. Clifton lets on.  Only 47% of all US adults have a full-time job — everyone else is either unemployed or scraping by on one or more part-time jobs.  The actual general unemployment rate is 22.4%; the unemployment rate among new college graduates and post-50 non-pension folks is closer t0 40%.  Combine that with any combination of national disasters and the looming food and water crises, and you have a social meltdown, not just a political or economic meltdown.

See Also:

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Berto Jongman: New studies: ‘Conspiracy theorists’ sane; government dupes crazy, hostile + Cabal / Conspiracy Meta-RECAP

Berto Jongman: World Food Crisis + Food RECAP

Denis Smajlaj: Rolling Stone Apologizes to Conspiracy Theorists — and Notes US Judges Helping Banks Avoid Accountability Today

Eagle: Death of the Dollar — Treason Proves Fatal

Gold Transformer: Federal Reserve Transparency Ploy, End of the Middle Period in Predatory Central Banking — Fed Cannot Account for $9 Trillion + Meta-RECAP


Matt Taibbi: Lies of the Bailout — US Government Ponzi Scheme

Michelle Monk: PROOF of 1400+ ELITE resignations, mass arrests, retirements

Mini-Me: Germans Suspect Federal Reserve Bank of NY Has Stolen 1536 MetricTonnes of Gold — On Tim Geithner’s Watch

Paul Craig Roberts: America (RIP) – The True Cost of Government Corruption and Banking Greed – Moral Bankruptcy Assures the Death of a Nation

Paul Craig Roberts: The Libor Scandal In Full Perspective + Meta-RECAP

Pierre Cloutier: Prof. Rodrigue Tremplay on Fed’s Monetary Policy of Zero Interest Rate — Combined with Inflation, Burying the US Economy

SchwartzReport: Tom Engelhardt — No Longer in Search of Enemies — We Have Created Them and Turned the World Against the USA

SmartPlanet: Corrupt Government Allows Corporate Socialism – Privatized Profits and Externalized Losses

Winslow Wheeler: If OMB Cannot Manage, and DoD Cannot Win Wars or Secure Peace, Who Is to Blame? Sub-Text: Obama “Team” Has No Plan B — They Cannot Even Find Plan A!

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