The spinning of the Bureau of Lies and Shams report on employment has begun. Past numbers are being revised dramatically higher. If this is true, how come retail sales sucked over Christmas? How come consumer confidence is plunging? If hundreds of thousands of people found jobs last year, how could GDP go negative? Inquiring minds want to know. Here is a link to the un-spun data.
Here’s what I see:
- The number of employed Americans went up by 17,000.
- The number of unemployed Americans went up by 126,000.
- Another 169,000 Americans left the workforce because their stock market gains have made them wealthy.
- The labor participation rate remains at three decade lows.
- 1.4 million Americans have left the workforce since February 2012.
- There are 250,000 more Americans unemployed than there were in September 2012.
- There are 6,000 less Americans employed than there were in October 2012.
- The unemployment rate went up to 7.9%.
So solly. I do not see a jobs recovery in these numbers. Propaganda and spin don’t provide paychecks to the declining middle class.