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IAM Communications Director Rick Sloan and Trim Tabs CEO Charles Biderman on why the outlook for jobs is not as good as we are lead to believe.
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Now to talk about what some -- is a conspiracy at work to make the nation's jobs numbers look.
Better than they really are joining us now.
Is Charles Biederman he's the president and CEO of trim tabs and independent investment research firm great to have you -- this.
Rick Sloan the executive director of -- cubed America's first union for the unemployed.
He's also the communications director for the International Association of Machinists and Aerospace Workers.
Thank you both for being here are up in Charles -- start would you view.
You don't buy these numbers.
Well -- ripe for abuse -- we also track withheld income and employment taxes reported.
Every day by the US treasury that's all the income to withheld income and employment taxes withheld by employers.
For all employees.
And that says that wages and salaries are barely growing year over year.
And it's hard to believe that.
With -- virtually no growth in incomes how you have a 243000.
New jobs created.
And that same month you can't have more people working at -- aren't paying.
Axes and of course that the good folks who looked down and what you're saying is that makes absolutely perfect sense.
There in addition to that do their folks taking note of a mirror one and a quarter million people who left the workforce according to the January numbers.
-- does that trouble you at all.
Troubles me greatly I think what we're seeing here is that.
You couldn't.
Numbers can -- But when you look into the eyes of the unemployed.
What you see is real tragedy.
A real terrible feeling that this isn't gonna end well and it certainly -- marketing and any time soon.
When do you do you gentlemen believe irrespective.
Of the these these blue liberal the absolute numbers that we're looking.
Do you believe that employment numbers are improving in this country over the course of the past year.
Charles.
No.
The since.
09 bottom of the market wages and -- after tax wages and salaries for everybody who pays taxes.
Is up all of 400 billion annually from five point nine trillion to six point three.
That's a 2% annual gain.
And there's no increase if there's no increase in income there's really no increase in employment.
That they just he can't be happening.
-- so I think that -- economy is not getting better.
Right I think Charles is absolutely right in fact for the unemployed.
It's getting worse.
The real unemployment in this country is 27 and a half million people.
If you add in the nine point three million.
Who have dropped out of the labor force you're talking about 15 of our productive capacity.
Lying idle.
The mean until we grasp the depth and the breath of this job Streisand's.
We're just treading water well let me say -- this way this is your president by that I mean organized labor's president.
If you can't trust him.
Who you gonna trust.
I think we're all cherry picking the numbers.
And -- -- is the White House.
I would be deathly afraid.
Of the forty million jobless voters.
Or voters from jobless housewives.
There would be coming out next November.
-- would frighten me deeply are you frightened Charles.
About bug go a little lives are you by those numbers.
Well the truth says is that real time data on -- jobs -- -- is available -- ignored by the treasury by the Bureau of Labor Statistics said the Bureau of Economic Analysis when every employer -- in the amount with held.
Embedded in that information is how much they made pretax -- they made after tax how many people working.
Where they worked what geographic location what industry.
All that real time data is available but it's not looked at by the government.
Date -- -- I did an op Ed in 07 saying why don't they look at -- real time data.
That's available and the economists said mind my own businesses.
Up up.
All mind your own business economists don't like you Charles and the politicians sure -- -- don't like you and -- just some of the politicians like you.
-- -- -- So our -- in.
How many broadcast how many places have the -- of you've been on together to talk about unemployment.
Because you both have a since of the reality that is.
You have real time data is you put it is -- head of trim tabs Charles and Rick you you were dealing with these folks every day.
In in your capacity.
-- -- I mean.
Why in the world can't we get to the bottom of -- -- I personally believe that we are seeing improvement but it's at the margin.
Where did we go from yeah.
Well.
On my blog trim tabs dot com blog we -- -- do a daily video about these type of items and people are.
You know it interested in this and we are getting the lot more people coming to -- -- you wouldn't be here we weren't interested in the Charles let that that's what the most -- zone observations.
-- you get -- last -- is is that nobody else that is.
That's OK well we're gonna fix our world -- -- -- what we're seeing the new kid.
Is an enormous growth.
We've been doing FaceBook ads that say where is a job for me mister president.
And talk -- you haven't heard from in progress administration.
Now.
Well -- I know what he told the last person brought this Fisher -- be sure to send an umbrella name maybe there's -- isn't it.
We're gonna be you know -- -- I'd like you guys to come back over the next few days and continue this conversation can we do that Charles loved her right.
