IMMIGRATION FAILURES VS. AMERICANS by Michael Cutler

Editor’s Note: From our great friend and regular SUA contributor, Michael Cutler, retired Senior Special Agent of the former INS (Immigration and Naturalization Service) whose career spanned some 30 years. He has testified before well over a dozen congressional hearings.

He hosts “The Michael Cutler Hour” on USA Talk Radio Fridays at 7 p.m. (EST) and is frequently interviewed by broadcast media on various aspects of immigration issues, especially the nexus to national security.

 

Immigration Failures vs. Americans

How law enforcement failures undermine our citizen’s civil rights.

by Michael Cutler

 

 

 

Immigration anarchists have repeatedly drawn false analogies between their efforts to block the enforcement of immigration laws and the heroic action of those whose hard-fought efforts for decades provided black Americans with civil rights, but at great cost.

These anarchists emulate Jimmy Carter, creator of the Orwellian term ‘Undocumented Immigrant’ by referring to advocates for fair and effective immigration law enforcement as being “Anti-Immigrant.”  This despicable tactic is now being used to falsely attack Senator Jeff Sessions, the nominee for Attorney General, accuse his support for such effective enforcement of our immigration laws as running contrary to civil rights and being against immigrants.

These anarchists refuse to concede what should be obvious, while aliens illegally present in the United States are entitled to human rights and due process, they are not entitled to broad civil rights protections.  It is an outrageous contradiction in concepts to claim that aliens whose mere presence represents a violation of law should be provided with opportunities equal to those provided to American citizens and lawful immigrants.

In reality, immigration anarchists are, themselves, responsible for undermining the civil rights of Americans, particularly American minorities who suffer the greatest harm because of the failures of our government to enforce the immigration laws.  Those immigration anarchists also are responsible for undermining the civil rights of lawful immigrants.

For the sake of clarity and to prevent any potential misunderstandings, illegal aliens, not unlike others, are entitled to human rights and are properly entitled to due process when accused of committing crimes.  There are two reasons why due process must be devoid of consideration as to the immigration status of the accused.  First of all, it is a matter of fairness and justice.

Creating a lower standard for convicting illegal aliens for committing crimes would undermine the judicial system.

Additionally, unscrupulous prosecutors who simply wanted a “quick kill” would be encouraged to seek the conviction of illegal aliens who did not actually commit the crime.  This is immoral and unjust.  Secondly, under such circumstances, law enforcement authorities would stop looking for the actual criminal who would therefore remain at large and continue to pose a threat.

Civil rights laws were initially enacted to address the wrongs visited upon black Americans beginning with slavery and then segregation.

Today those laws are focused on providing citizens, irrespective of race, religion, ethnicity, gender or sexual identity or orientation, with equal protection under our laws and equal opportunities, thereby enabling them to be full participants in the communities where they live and throughout our nation.

Sanctimonious and hypocritical mayors of “Sanctuary Cities” portray themselves as heroic figures, perhaps on par with the “Freedom Riders” who, decades ago, at great personal risk, fought to end racial discrimination and segregation in the South.

Make no mistake, those Freedom Riders were heroes who should be lauded and remembered for their morality, courage and achievements.

Mayors of Sanctuary Cities, however, are anything but heroes.  They are betrayers.  Betrayers of the Constitution, betrayers of their oaths of office, betrayers of national security and public safety and betrayers of their constituents.

Such rogue politicians act against the best interests of their constituents and those who reside in, or visit their cities by turning their jurisdictions into magnets for aliens who are illegally present in the United States.  Among those illegal aliens are those who have serious criminal histories, have outstanding arrest warrants in the United States or in other countries or may be international terrorists or supporters of terrorism.  These aliens may have entered the United States without inspection or entered through ports of entry but went on to otherwise violate our immigration laws that, it must be noted, are completely and utterly blind as to race, religion or ethnicity.

Such rogue politicians act against the best interests of those who reside in, or visit their cities, because they are turning their jurisdictions into magnets for aliens who are illegally present in the United States.  Among those illegal aliens are those who have serious criminal histories, have outstanding arrest warrants in the United States or in other countries or may be international terrorists or supporters of terrorism.  These aliens may have entered the United States without inspection or entered through ports of entry but went on to otherwise violate our immigration laws that, it must be noted, are completely and utterly blind as to race, religion or ethnicity.

The ultimate “hate crime” involves acts of violence committed against members of a community because of factors such as race, religion, ethnicity or sexual orientation.  Transnational gangs often target their victims because of such factors.  Failures of immigration law enforcement have enabled such violent gangs to flourish across the United States.

Beyond undermining national security and public safety, Sanctuary Cities additionally attract massive numbers of illegal aliens who have no legal authority to work in the United States yet are able to secure illegal employment, thereby displacing American workers.

This includes American teenagers – often American minority teenagers, who find themselves unable to find a job, creating for them the conundrum of not being able to get a job without a resume but not being able to assemble a resume without first getting a job.

Furthermore, labor is a commodity.  Flooding the labor pool with foreign workers, suppresses the value of labor.  Consequently, even Americans and lawful immigrants who don’t lose their jobs to illegal aliens likely face wage suppression because of them.

It is more than mere coincidence that the division of the Civil Rights Commission that deals with discriminatory employment practices is referred to as the Equal Employment Opportunities Commission.

Employment, in point of fact, provides opportunities to those who are able to work.

those who are able to work.

Opportunities to be self-sufficient, opportunities to succeed and advance and prosper all revolve around the ability to be gainfully employed.

Blocking qualified workers from job opportunities deprives them essential and fundamental opportunities to be successful.

Politicians who comply with the demands of campaign contributors and others who exert pressure on them to flood America with cheap and compliant foreign labor to displace American workers and suppress wages.

The destruction of the middle class is not an “unintended consequence” but the goal of their duplicitous conduct.

A news report on how job losses create multiple stresses quoted Michael McKee, a psychologist at the Center for Integrative Medicine at the Cleveland Clinic who articulated his concerns about how the possible loss of financial ability to support oneself and family my lead to a loss of self-respect and the respect of others.  Thus leading to the loss of identity, security and daily structure, ultimately leading to people who lose meaning and hope.

A study published a couple of years ago found that poverty stresses the brain so much that it’s like losing 13 IQ points.

Prior to the Second World War the enforcement of our nation’s immigration laws was vested primarily within the Labor Department to make certain that Americans would not have to compete with foreign workers for jobs.  This is how America created the largest and most upwardly mobile middle class of all countries on this planet at the time, thus creating the “American Dream.”

Civil rights laws also enforced in conjunction with our immigration laws to make certain that employers treat all employees equally including aliens provided that the aliens in question are authorized by law to be employed in the United States.  Indeed, even where the employer sanctions provisions of the Immigration Reform and Control Act.

The Civil Rights Act of 1964 ended segregation and under Title VII of the Civil Rights Act, discriminatory employment practices were prohibited to insure, equal employment opportunities.  Over time these laws were amended to protect additional groups of protected workers and even include aliens who are authorized to work in the United States.

In fact, the Equal Employment Opportunity Commission (EEOC) has posted the Immigration Reform and Control Act of 1986 (IRCA) on its website.  Among the provisions of IRCA was a massive amnesty program for millions of illegal aliens and the provision that, for the very first time, deemed the knowing employment of illegal aliens to be a violation of law.

The EEOC has a vested interest and, indeed, jurisdiction, in cases involving allegations of Employment Discrimination.

Not only does the EEOC have jurisdiction when Americans claim employment discrimination, but it also has jurisdiction if an allegation is made that an alien, authorized to work in the United States seeking employment, suffered discrimination during the hiring process by an overly zealous employer who went beyond the requirements of preparing the Form I-9 to verify the identity and eligibility of an alien applying for a job or if an alien, authorized to work in the United States, faced discriminatory policies by his/her employer.

However, all of the laws and regulations that have been promulgated to end workplace discrimination are undone by the veritable army of foreign workers who have displaced beleaguered American workers.

Think of how many politicians running for office promise to help “create jobs” and to “bring back jobs to America.”

Whether politicians are running for political office on the local, state or federal level.  Whether they seek to become a member of the city council, mayors or governors.  Even if they are candidates for the U.S. House of Representatives and U.S. Senate or even the Presidency of the United States, they all make that same  promise about jobs and “getting Americans back to work.”

Failures of the immigration system make those promises largely meaningless when American workers are displaced by aliens.

For open borders/immigration anarchists, failures of the immigration system are to be engineered and then celebrated.

In reality, those failures are devastating to America and Americans and undermine the letter and spirit of our civl rights laws.

If immigration anarchists want to point to those responsible for undermining civil rights, they should stand in front of a mirror and point at themselves.



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Climate Change. “Why our CO2 emissions do not increase Atmosphere CO2” by Dr. Ed Berry

From our great friend Dr. Ed Berry, our environment and climate adviser to Stand Up America.


Why our CO2 emissions do not increase Atmosphere CO2

by Edwin Berry, PhD, Atmospheric Physics – also published in NewsWithViews

The genius of Al Gore

Give Al Gore an A for marketing and an F for science. But, hey, we all know the sale is in the marketing. The genius of Al Gore was to make his invalid myth simple:

  1. Our CO2 emissions increase Atmosphere CO2, and
  2. Atmosphere CO2 heats the Earth.

What could be simpler? Al Gore assumed his two invalid claims were true. His marketing job was to make you believe bad things happen when Atmosphere CO2 rises.

Everybody believed Al Gore. Well, almost everybody. His simple, inaccurate description of how our climate works created a generation of “science deniers,” some with misinformed PhD’s. Al Gore turned climate science into a political-environmental movement.

The alarmists’ goal is to scare you into believing our CO2 causes climate change. Once scared into an invalid belief, you will tend to hold that invalid belief forever.

Those who believe Al Gore’s marketing believe they can make the Earth cooler by reducing our CO2 emissions. Al Gore has sold them a bridge to nowhere.

Climate alarmists are like the Aztecs who believed they could make rain by cutting out beating hearts and rolling decapitated heads down temple steps.

Both of Al Gore’s two assumptions are wrong. This article shows how his first assumption is wrong. Nature, not human CO2 emissions, causes the changes in Atmosphere CO2.

The Logical Fallacy of Climate Change

Climate alarmists tell us climate change causes bad stuff to happen, and if bad stuff happens, they claim it is our fault. The alarmist logic goes like this:

If human CO2 causes climate change, then bad stuff will happen.

Bad stuff happens. Therefore, human CO2 causes climate change.

This alarmist claim is the well-known logical fallacy called “Affirming the Consequent.” Here is an example that illustrates this logical fallacy:

If Bill Gates owns Fort Knox, then Bill Gates is rich.

Bill Gates is rich. Therefore, Bill Gates owns Fort Knox.

The logical error is to assume that every result has only one possible cause. Shrinking glaciers do not prove we caused them to shrink.

The relevant climate change questions are about cause and effect.

The relevant climate change questions are not whether the climate has changed. Climate always changes. The only relevant climate change questions concern cause and effect:

  1. Do Human CO2 emissions significantly increase Atmosphere CO2?
  2. Does Atmosphere CO2 significantly increase climate change?

Climate alarmists must prove BOTH answers are YES. Otherwise, they lose their case.

This article shows why the answer to the first question is NO. A future article will show why the answer to the second question is also NO.

Why Human CO2 emissions do not cause climate change.

Fig. 1 shows why nature’s CO2 emissions, not Human CO2, are the major cause of the observed change in Atmosphere CO2.

All numbers in this article represent amounts of CO2. CO2 units are in parts per million by volume (ppmv) of CO2. Gigatons of Carbon (GtC) convert to ppmv using: 1 ppmv of CO2 = 2.13 GtC.

In the middle of Fig. 1 is a box that represents the CO2 in our atmosphere. The amount of CO2 in our Atmosphere in 2015 was 400.

Land and Ocean CO2 emissions into the Atmosphere total about 100 each year (plus or minus ten percent). An almost equal amount flows from Atmosphere CO2 to Land and Ocean CO2 each year (References: CDIAC, 2016; IPPC, 2007a; IPPC, 2007b).

Fig. 1. Our Atmosphere’s CO2 is like a big lake. It receives CO2 from two big rivers (Land and Ocean) and from one small river (Human). Temperature controls CO2 flow from Land and Ocean to Atmosphere. Lake level rises or falls until outflow equals inflow.

Let’s use an analogy to help understand Fig. 1. Let water in a lake represent Atmosphere CO2.

Two large rivers flow into the lake. One river represents Land CO2. The other river represents Ocean CO2. Together, they supply about 100 units per year to the lake.

Lake water spills over a dam. The inflow of 100 raises the lake level until the outflow over the dam equals the inflow.

Similarly, the flow of Land and Ocean CO2 into our Atmosphere increases the amount of CO2 in our Atmosphere. Increased Atmosphere CO2 increases CO2 outflow to Land and Ocean. Like the lake, Atmosphere CO2 is at equilibrium when outflow equals inflow.

If inflow exceeds outflow, the lake level (Atmosphere CO2) will rise until outflow equals inflow. If outflow exceeds inflow, the lake level will fall until outflow equals inflow.

The dam separates the CO2 spill into two parts. One part goes back to Land. The other part goes back to the Ocean.

Fig. 1 includes the much longer CO2 cycle where Land CO2 becomes Fossil Fuels. Human CO2 emissions complete this CO2 cycle by returning Fossil Fuel CO2 to the Atmosphere.

A small river, with a flow of 4, also flows into the lake. This small river represents the Human CO2 flow into our Atmosphere. This small river adds only 4 percent to the Land and Ocean flow of 100 into the lake. This small river raises the total flow into the lake to 104. This will raise the lake level until the outflow equals 104.

The contribution of Human CO2 to the new lake level (Atmosphere CO2) is only 4 percent of the lake level above the dam, or only 4 percent of the total flow into and out of the lake. Ninety-six percent of the CO2 flow into and out of our Atmosphere is due to nature.

Fig. 1 shows a scenario where the total inflow into the Atmosphere equals the total outflow, and where the Human CO2 contribution goes to Land to support vegetation growth. Because inflow equals outflow, Atmosphere CO2 will remain constant, whether Atmosphere CO2 is 400 or 300 or any other value.

Salby (2016) comes to the same conclusion. Salby (2012) authored the comprehensive textbook, “The Physics of the Atmosphere and Climate.

Our Atmosphere does not treat Human CO2 any differently than CO2 from Land and Ocean. Human CO2 is simply another input to Atmosphere CO2 that will increase the outflow of Atmosphere CO2 to Land or Ocean by the same amount as the Human CO2 flow into the Atmosphere.

Temperature controls Atmosphere CO2.

Salby (2015) shows, directly from data and with no hypotheses, that Temperature sets the rate at which Atmosphere CO2 increases or decreases. This means temperature sets the equilibrium value of Atmosphere CO2. Fig. 1 indicates the Temperature effect by the symbol for the Sun.

If the Sun, cloud cover, or ocean currents change to increase temperature, the increased temperature will cause more Land and Ocean CO2 to flow into Atmosphere CO2. This will increase Atmosphere CO2 until outflow balances inflow.

Temperature is like the accelerator in your car. Atmosphere CO2 is like the speed of your car. Atmosphere CO2 follows Temperature – like the speed of your car follows your accelerator. Press down, your car speeds up. Let up, your car slows down.

Contrary to what Al Gore told you, CO2 does not control temperature. Temperature controls CO2.

Climate alarmists present their case.

Climate alarmists claim our CO2 emissions cause 100 percent of the observed rise in Atmosphere CO2. We will show why their claim is unphysical and invalid.

Here is the alarmists’ four step argument they claim proves their case:

  1. From 1750 to 2010, humans added 171 units of CO2 to our Atmosphere and Atmosphere CO2 increased by 113 units. This leaves 58 units.
  2. Land and Oceans absorbed the 58 units of Atmosphere CO2.
  3. Therefore, Land and Oceans are net absorbers of CO2.
  4. Therefore, Human CO2 caused 100 percent of the increase in Atmosphere CO2 since 1750 and 1960.

Here is my rebuttal to the Alarmists case:

During the same period that Human CO2 emissions added 171 units of CO2 to our Atmosphere, the Land and Ocean CO2 emissions added 26,000 units to our Atmosphere. Land and Ocean also absorbed about 26,000 units of CO2 from our Atmosphere, including the 171 units from Human CO2. There were no 58 units left over.

Fig. 2. Land and Ocean CO2 emissions are 152 times greater than Human CO2 emissions during the period from 1750 to 2010.

Fig. 2 illustrates how Land & Ocean CO2 emissions compare to Human CO2 emissions during this period. The ratio is 152 to 1.

The alarmists case fails because it omits Land and Ocean CO2 emissions. Their omission leaves Human CO2 emissions as 100 percent and makes their claim that Human CO2 caused ALL the Atmosphere CO2 increase artificial.

During the 260-year period (during which we have reasonable measurements), Human CO2 caused “at most” 0.7 of the 113 rise in Atmosphere CO2.

“At most” is because Salby (2015) “Atmospheric Carbon: Why its not pollution and Why humans cannot regulate it,” shows that Temperature controls the rate of change of Atmosphere CO2, and the equilibrium value of Atmosphere CO2. Under that scenario, Land and Ocean emissions and absorptions will adjust to neutralize the effect of Human CO2 emissions, and the effect of Human CO2 on Atmosphere CO2 will be ZERO!

The Atmosphere does not know whether its CO2 came from Land, Ocean, or Human CO2 emissions. No matter what the source, the greater the total Atmosphere CO2, the greater the flow of Atmosphere CO2 to Land and Ocean CO2. Therefore, Atmosphere CO2 will seek the same balance level with or without Human CO2 emissions.

Land can absorb CO2 from the Atmosphere while Ocean provides CO2 to the Atmosphere. Fig. 1 shows this scenario where Land absorbs ALL Human CO2 emissions while Atmosphere CO2 remains constant.

In 2015, Human CO2 emissions were 4 percent of Land and Ocean CO2 emissions. Therefore, Human CO2 emissions caused “at most” only 4 percent of the rise in Atmosphere CO2.

A small river with an inflow of 4 cannot cause an outflow of 104. Yet this is what climate alarmists claim happens. The following tale illustrates the absurdity of the alarmist case:

An elephant crosses a bridge. A mouse, riding on the elephant’s back, says to the elephant, “We sure made that bridge shake, didn’t we?

The alarmists’ case is a shell game. They would flunk physics.

Earlier publications that argue the same position I have argued, include Courtney (2008), Cox & Cormack (2013), and Rorsch, Courtney, & Thomas (2005).

Three more reasons Human CO2 emissions do not control Atmosphere CO2.

Fig. 3 shows Atmosphere CO2 scaled to fit Human CO2 emissions and the annual change in Atmosphere CO2 (References: NOAA, 2016; CDIAC, 2016; IPCC, 2007b).

Fig. 3. Human CO2 emissions, annual change in Atmosphere CO2, and Atmosphere CO2 scaled (by subtracting 266 and dividing by 50).

Salby (2016) makes the following three arguments using Fig. 3.

  1. Human CO2 emissions increased significantly after 2002 due to China’s contribution (Oliver, 2015). Yet Atmosphere CO2 continued its same steady rise.
  2. Annual changes in Atmosphere CO2 (jagged line) do not follow the smooth increase in Human CO2 emissions. (Also, Courtney, 2008.)
  3. In some years, particularly the period from 1988 to 1993, the rate of increase of Atmosphere CO2 falls while Human CO2 emissions continue to rise.

Therefore, Human CO2 emissions do not control Atmosphere CO2.

Conclusions

Climate alarmists claim Human CO2 causes ALL the increase in Atmosphere CO2. Their argument fails because they omit Land and Ocean CO2 emissions that are many times greater than Human CO2 emissions.

Climate alarmists also omit how Land and Ocean CO2 emissions and absorptions balance Atmosphere CO2 with or without the presence of Human CO2. Temperature sets the equilibrium Atmosphere CO2 independent of Human CO2 emissions.

Here are three more reasons Human CO2 does not cause ALL the rise in Atmosphere CO2:

  1. Human CO2 emissions increased significantly after 2002, yet Atmosphere CO2 continued its same steady rise.
  2. Annual changes in Atmosphere CO2 do not follow the smooth increase in Human CO2 emissions.
  3. In some years, particularly the period from 1988 to 1993, the rate of increase of Atmosphere CO2 falls while Human CO2 emissions continue to rise.

Therefore, Human CO2 emissions do not increase Atmosphere CO2.

Most public climate alarmist arguments use this invalid logic:

If human CO2 causes climate change, then bad stuff will happen.

Bad stuff happens. Therefore, human CO2 causes climate change.

Such arguments are invalid because they do not prove Human CO2 caused the change.

If we stopped all Human CO2 emissions today, it would not change future Atmosphere CO2.

References

CDIAC, 2016: Global Fossil-Fuel CO2 Emissions. http://cdiac.ornl.gov/trends/emis/tre_glob_2013.html

Courtney, Richard S, 2008: Limits to existing quantitative understanding of past, present and future changes to atmospheric carbon dioxide concentration. International Conference on Climate Change, New York.

Cox, Anthony, & Cormack, Bob, 2013: AGW and CO2: If Humans are not responsible for the CO2 increase then there can be no AGW. The Australian Climate Sceptics. http://theclimatescepticsparty.blogspot.com.au/2013/01/defective-agw-science.html

IPCC, 2007a: Working Group 1: The Scientific Basis. http://www.ipcc.ch/ipccreports/tar/wg1/index.php?idp=95

IPCC, 2007b: Report 3. The Carbon Cycle and Atmosphere Carbon Dioxide. http://www.grida.no/climate/ipcc_tar/wg1/pdf/tar-03.pdf – Oceans Land Emissions = 100

NOAA, 2016: ESRL CO2 data beginning in 1959. ftp://ftp.cmdl.noaa.gov/ccg/co2/trends/co2_annmean_mlo.txt

Olivier, Jos et. al., 2015: Trends in global CO2 emissions: 2015 Report. Netherlands Environmental Assessment Agency. http://edgar.jrc.ec.europa.eu/news_docs/jrc-2015-trends-in-global-co2-emissions-2015-report-98184.pdf

Rorsch, A; Courtney, RS; Thoenes, D; 2005: The Interaction of Climate Change and the Carbon Dioxide Cycle. E&E, V16, No2.

Salby, Murry, 2012: Physics of the Atmosphere and Climate. Cambridge University Press. 666 pp. https://www.amazon.com/Physics-Atmosphere-Climate-Murry-Salby/dp/0521767180/ref=mt_hardcover?_encoding=UTF8&me=

Salby, Murry, 2015: CO2 follows the Integral of Temperature, video. http://edberry.com/blog/climate-physics/agw-hypothesis/murry-salby-co2-follows-integral-of-temperature/

Salby, Murry, 2016: Atmosphere Carbon Dioxide, video. http://edberry.com/blog/climate-physics/agw-hypothesis/murry-salby-Atmosphere-carbon-18-july-2016/
A recommended radio interview with Dr. Ed Berry:

Link

For more please visit edberry.com

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Labor Report Shows Gains, The Market Impact, EU Troubles

Editor’s Note – The monthly jobs report is in and many are calling it an improvement while others are much more skeptical. Yes, there was a sizable gain in jobs, and the U1 rate stayed at 5.5%, but those are deceptive because of the numbers that underlie the broader picture.

Americans are finding jobs, but at a dismal rate when you look at history outside of recent recovery years prior to this one.  Too many people are out of the work force but those numbers are also slightly lower.unemployment Blues

Overall, it is still a lackluster recovery, and when one looks at the details and also includes the global picture, we are a long way away from a ship sailing right on its keel.

We caution optimism here because these better numbers are still quite small and other factors are not improving.

The 1st quarter GDP numbers were surprising as the economy retracted, but the Bureau of Labor Statistics revised and excused the “anomaly” and showed us a rosier picture to coincide with the more positive labor report.

But as usual, it is little solace to the millions not even in the labor force or those forced into part-time work – underemployment not even close to their potential.

BLS LogoWith this news, the stock markets were weary that a positive change may forestall the much discussed rise in interest rates, maybe even into the election season.

The markets closed down today and showed a loss for the week. (Read more below.) The markets like certainty, and they are not getting it from Janet Yellin as the reports emerge like today.

Here is a compilation of these numbers, and a reminder that things in Europe are more uncertain and now it appears that the Greeks are seeking advice from Russia’s Putin.

Global uncertainty, and a detached stock market make for highly uncertain times and somewhat implausible numbers as Zero Hedge points out below as well:

92,986,000 Non-participants in the workforce:

The month of May saw 92,986,000 people not participating in the workforce, according to new data released Friday by the Bureau of Labor Statistics reveals. May’s total represented slight decline compared to last month’s record, which saw 93,194,000 people outside the workforce.

The BLS defines those not in the labor force as people ages 16 and older who are neither employed nor “made specific efforts to find employment sometime during the 4-week period ending with the reference week.” The labor force participation rate came in at 62.9 percent, a slight uptick compared to April’s 62.8 percent. (Breitbart)

55,951,000 Women out of the workforce:

Mirroring the national numbers, the number of women outside the workforce experienced a slight decline in May, according to data released Friday by the Bureau of Labor Statistics. In April, the number of women not in the workforce hit a record 56,167,000. Come May, that number declined to 55,951,000.unemployment

With the number of women out of the labor force decreasing, so the number of women in the civilian workforce increased from 73,267,000 in April to 73,577,000 in May. The workforce participation rate among women also experienced a slight uptick to 56.8 percent. (Breitbart)

6,652,000 More Americans Working Part-Time, but not by choice:

Another 72,000 workers were working part time last month because their hours were cut or they couldn’t find full-time work. The total number of involuntary part-time workers jumped to 6,652,000 in May, up from 6,580,000 in April, but well below the 7,268,000 in May 2014, according to data released Friday by the Bureau of Labor Statistics (BLS).

According to BLS, involuntary part-time workers are “persons who indicated that they would like to work full time but were working part time (1 to 34 hours) because of an economic reason, such as their hours were cut back or they were unable to find full-time jobs.” (CNS News)

“The Job Numbers Literally Do Not Add Up” – Productivity:

Payroll Stats Become Even More Implausible – Since Q1 GDP was revised lower by almost 1% that meant estimates of productivity were going to be even more out of alignment than they were at the first release. Of course, in a less massaged environment productivity might have preserved some sense if there was less rigidity from the BLS on the employment side.

In other words, when “output” estimates were reduced (and they were, by more than GDP) it would make sense that everything would be revised downward in a more cohesive process. Instead, output was reduced significantly, by 1.4%, while total hours worked was marked down by all of 0.1%. As a result, productivity is revised from a nonsensical -1.9% to an even more skeptical -3.1%. (Zero Hedge)

Greek Crisis & Great Britain Threat to leave the EU:

Greece crisis live: PM tells parliament a debt deal can be done as stocks slide and Athens looks to Moscow. Greece will have to pay €1.6bn to the IMF and €1.5bn in pensions and wages by the end of the month. (Video from the UK Telegraph)

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Follow the almost hourly update read more here.

IMF director Christine Lagarde and Greek finance minister Yanis Varoufakis in happier days (AFP)
IMF director Christine Lagarde and Greek finance minister Yanis Varoufakis in happier days (AFP)

More from Zero Hedge on Greece:

Greek Banks On Verge Of Total Collapse: Bank Run Surges “Massively” As Depositors Yank €700 Million Today Alone – While the Greek government believes it may have won the battle, if not the war with Europe, the reality is that every additional day in which Athens does not have a funding backstop, be it the ECB (or the BRIC bank), is a day which brings the local banking system to total collapse.

As a reminder, Greek banks already depends on the ECB for some €80.7 billion in Emergency Liquidity Assistance which was about 60% of total deposits in the Greek financial system as of April 30. In other words, they are woefully insolvent and only the day to day generosity of the ECB prevents a roughly 40% forced “bail in” deposit haircut a la Cyprus. (Read more here.)

The British Issue from the AP:

The prospect that economic and diplomatic heavyweight Britain might leave the European Union within two years has pushed EU leaders to consider concessions to keep the country in the fold.Unemployment-2

EU founding members like Germany and France are moving outside their comfort zones, surprisingly receptive to British Prime Minister David Cameron’s call for change ahead of a referendum that will allow citizens to vote on whether to stay or go before the end of 2017.

With Europe’s top priority the very real risk that Greece might fall out of the euro single currency, Cameron has found a surprisingly open ear in many capitals of the world’s biggest trading bloc.(Read more at AP)

GDP drop in the first quarter of 2015:

June 25th in the Wall Street Journal:

Gross domestic product, the broadest measure of goods and services produced across the economy, fell at a seasonally adjusted annual rate of 2.9% in the first quarter, the Commerce Department said in its third reading of the data Wednesday.

That was a sharp downward revision from the previous estimate that output fell at an annual rate of 1%. It also represented the fastest rate of decline since the recession, and was the largest drop recorded since the end of World War II that wasn’t part of a recession. (Read more at the Wall Street Journal)

But the Bureau of Labor Statistics reports today:

Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to the “second” estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent.

The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, real GDP increased 0.2 percent. With the second estimate for the first quarter, imports increased more and private inventory investment increased less than previously estimated (for more information, see “Revisions” on page 3).

The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from personal consumption expenditures (PCE), private inventory investment, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. (Read more here at the BLS)

Stock Market:

U.S. Stocks Close Slightly Lower

Jobs report provides evidence to investors, traders that economy is lifting out of first-quarter slump

By DAN STRUMPF – Wall Street Journal

Stocks fell Friday as the strong May jobs report cemented expectations that the Fed will begin raising borrowing costs this fall, capping a volatile few days for stocks that leaves major benchmarks slightly lower for the week.

Traders and investors said the May jobs report offered evidence that the U.S. economy was pulling itself out of its first-quarter slump. While a firming economy is usually a good backdrop for stocks, investors say the hiring pickup keeps the Federal Reserve on track to start raising short-term interest rates as soon as September, potentially boosting borrowing costs for businesses and consumers alike.

Stocks spent the Friday session swinging between gains and losses before settling with a modest decline. The Dow Jones Industrial Average lost 56.12, or 0.3%, to 17849.46, bouncing back from an loss of as much as 83 points earlier in the session.

The S&P 500 index fell 3.01, or 0.1%, to 2092.83, while the Nasdaq Composite Index rose 9.33, or 0.2%, to 5068.46.May5.15DowClose

Stocks ended the week lower, after an early-week rally that petered out. The S&P 500 is down 0.7% for the week, while the Dow is down 0.9%.

Major stock benchmarks have pulled back in recent sessions from record highs reached just last month, weighed down by a cocktail of uneven economic data, murkiness over the Fed’s course of action and lofty valuations. The Dow is off 2.5% from its high reached May 19. The S&P 500 is down 1.8% from its May 21 high.

“For the economy, the bottom line is that [the jobs data] is a good number,” said Brent Schutte, senior investment strategist at BMO Global Asset Management, which oversees $249 billion. But he added:

“To the extent that it brings people closer to believing that the Fed will raise rates in September, it will be near-term hit to the equity markets and the bond markets.”

The solid jobs report sparked sharper selloff in the bond market, lifting the yield on the benchmark 10-year Treasury note to an eight-month high of 2.402%, from 2.309% on Thursday. It is the highest closing level since Oct. 6. Bond prices fall as their yields rise.

For the week, the yield climbed by 0.305 percentage point, the biggest weekly rise since June 2013 when the bond market was rattled by the “taper tantrum,” or fears over reduced bond buying from the Fed.

The bond market has sold off since late April after a strong run-up in price over the past year. Many investors are recasting their portfolio as they believe the rise in bond yields reflect an improving economic and inflation outlook in the U.S. and the eurozone. (Read the rest here at the Wall Street Journal.)