VIRTUALLY NO ONE IN COUNTRY GETS A NEW JOB IN LAST TWO MONTHS, BUT UNEMPLOYMENT RATE KEEPS FALLING

The brilliant Ivy League educated Wall Street employed economists and financial gurus predicted there would be 180,000 new jobs added in January and the pitiful December number of 74,000 would be revised upward. I guess missing by 37% is considered fine work for an Ivy League economist. Bonuses for everyone!!!

To give you some perspective, the working age population has risen by 348,000 in the last two months and one survey says that 188,000 jobs were created, while the other survey says that 781,000 more people are employed. This data is coming from the same BLS government drones. Which numbers are true, because they both can’t be right.

Do you really believe there has been a hiring surge in the last two months that has driven the unemployment rate down to a six year low? If you believe that, I have some fine beach front real estate in Syria I’d like to sell you.

A gander at the old birth death model might explain some of the discrepancy. The old seasonally adjusted bullshit excel model subtracted the least amount of jobs since 2008. This model is supposed to capture what is happening at small businesses. Do you really think that small businesses are hiring more people and laying off less people than they have done historically? Do you think Obamacare, declining retail sales, declining real household income, and higher taxes have convinced small business owners to ramp up hiring? Do you think the BLS model is capturing the closing of thousands of retail outlets across the country?

Here are a couple of pithy observations you won’t get from Jim Cramer and Steve Liesman as they spin the data for CNBC:

• The working age population has risen by 2.3 million in the last year and only 1.8 million more Americans are employed (at low paying part time jobs). AMAZINGLY, the unemployment rate has PLUNGED from 7.9% to 6.6% over this same time frame. You’d have to be an ignoramus or an Ivy League economist to believe that BLS bullshit.
• According to these BLS drones, 2.5 million Americans LEFT the workforce of their own free will because they supposedly no longer want a job. Is this a lie or has Obama made it so beneficial to live off welfare, food stamps, and SSDI that people have just decided to live off the state?
• Think about the fact that almost 40% more Americans left the workforce in the last year than got a crappy job. Obama should have boasted about that fact during the SOTU that no one watched.
• Over 10 million Americans have left the workforce during Obama’s reign of error, while the number of employed Americans is where it was in 2008. WINNING!!!!!
• The BLS drones tell us that average wages are up 1.9% in the last year. If the unemployment rate has plunged, demand for workers should be higher and wages should be rising. Who’s lying?
• Is your inflation rate more than 1.9%? I would say my inflation rate is closer to 5%. That means real wages are falling hard. I wonder why Christmas sales were so horrific across the board? If more people are employed and the GDP is rising by 4%, how come consumers didn’t spend?

The truth is that the BLS, CNBC, Wall Street and the rest of the propaganda mouthpieces for the ruling elite have one purpose and one purpose only. They are tasked with misinforming you, lying to you, keeping you sedated, and allowing the financial elite to keep ass raping you until they have extracted every last penny from your bank account. Know your enemy.

January Payolls Big Miss Again At 113K Below 180K Expected, December Unrevised

Submitted by Tyler Durden on 02/07/2014 08:35 -0500

So much for the hope of either a surge in January jobs, or a massive upward revision in the December print. Moments ago the January jobs number came out and at 113K, it was a huge miss to the expected 180K, but more importantly, the December number which was expected to be revised much higher was virtually unchanged at 75K, compared to 74K originally. The unemployment rate, which has become largely irrelevant, dipped to 6.6% from 6.7%, just so Obama can get the brownie points for fixing the economy. However, judging by the market reaction this is hardly what the traders think.

From the report:

Both the number of unemployed persons, at 10.2 million, and the unemployment rate, at 6.6 percent, changed little in January. Since October, the jobless rate has decreased by 0.6 percentage point. (See table A-1.)  (See the note and tables B and C for information about the effect of annual population adjustments to the household survey estimates.)

 

Among the major worker groups, the unemployment rates for adult men (6.2 percent), adult women (5.9 percent), teenagers (20.7 percent), whites (5.7 percent), blacks (12.1 percent), and Hispanics (8.4 percent) showed little change in January. The jobless rate for Asians was 4.8 percent (not seasonally adjusted), down by 1.7 percentage points over the year. (See tables A-1, A-2, and A-3.)

 

The number of long-term unemployed (those jobless for 27 weeks or more), at 3.6 million, declined by 232,000 in January. These individuals accounted for 35.8 percent of the unemployed. The number of long-term unemployed has declined by 1.1 million over the year. (See table A-12.)

 

After accounting for the annual adjustment to the population controls, the civilian labor force rose by 499,000 in January, and the labor force participation rate edged up to 63.0 percent. Total employment, as measured by the household survey, increased by 616,000 over the month, and the employment-population ratio increased by 0.2 percentage point to 58.8 percent. (See table A-1. For additional information about the effects of the population adjustments, see table C.)

 

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Total nonfarm payroll employment increased by 113,000 in January. In 2013, employment growth averaged 194,000 per month. In January, job gains occurred in construction, manufacturing, wholesale trade, and mining. (See table B-1.)