BLS SAYS JOBS ARE PLENTIFUL – BUY STOCKS!!!!

Our friends at the Bureau of Lies and Scams put out their propaganda report on the current state of our blossoming jobs recovery this morning. It was another hoot. Their cohorts on Wall Street set the bar extremely low, so the dreadful fake number would beat expectations and drive the stock market higher. We’ve heard weather used as an excuse for every horrific economic report issued for the last two months. Now it will be spun that our economy is so resilient and strong that despite cold and snow in the winter (shocking) companies still hired people into part-time minimum wage jobs.

The headline number of 175,000 new jobs will be adjusted down to 120,000 jobs three months from now, but the fake number today will achieve its goal of sending the stock market to a new high for the 1%. Let’s look at the other survey to see if it confirms the 175,000.

• Oops!!! The other report issued by the same BLS government drones shows only 42,000 more people employed versus last month.
• That report shows the unemployment rate RISING.
• It shows the labor participation rate and employment to population ratio remaining at THREE DECADE LOWS!!!!
• The working age population has RISEN by 2.3 million people in the last year, but the BLS propagandists for the oligarchy have the gall to declare the actual labor force has only gone up by 200,000 over the same time frame.
• According to the BLS drones, the unemployment rate has plunged from 7.7% to 6.7% over the last year. These math manipulating mouthpieces for the state are counting on the ignorant masses to be confused by their NEW MATH. If the number of working age people goes up by 2.3 million and the number of employed goes up by only 1.8 million, how the fuck does the unemployment rate plunge? Easy peasy in the Orwellian world of Obama and the BLS. Just tell the ignorant masses that 2.2 million of them left the workforce willingly because their economic situation is so fucking awesome. You’d have to be brain dead, an Ivy League educated economist, a CNBC anchor or a liberal (not mutually exclusive) to believe this bullshit.
• The old birth death adjustment added 124,000 fake jobs to the old calculation. This was 20% higher than last years’ fake adjustment and 35% higher than the year before. This excel spreadsheet calculation is supposed to capture small business hiring. How many small businesses do you see hiring? Obamacare, higher taxes, stagnant consumer incomes, and rising energy costs have crushed small businesses. They are shedding employees.

In case you weren’t paying attention, there were over 146 million Americans employed in 2007. Today there are 145 million Americans employed. Over this same time frame, the number of working age Americans has risen by 16 million. So we have 16 million more people capable of working and 1 million less of them employed. According to our beloved bureaucrats, 13 million Americans have left the workforce of their own free will since 2007. And this employment report is being touted by the faux journalists in the MSM and the greedy shysters on Wall Street as a reason to ramp the stock market to new all-time highs.

Do you believe these scum or do you believe your own two eyes? RadioShack is closing 1,100 stores. Staples is closing 250 stores. JC Penney, Sears and Macys are all closing stores. Retailers and restaurants across the board have been announcing dreadful sales and profit results for the last quarter. If all these jobs have been added and the economy is running on all cylinders, how could spending be crashing? If our economy is fine, why is the Fed still buying $75 billion of debt per month from the Wall Street bankers? If all is well, why are we adding $2.8 billion per day to the national debt?

Does anyone in this country question anything anymore? Maybe they should ask Ciri if we’re fucked.

February Payrolls 175K, Beat Expectations Of 149K, Unemployment Rate Rises To 6.7%

Submitted by Tyler Durden on 03/07/2014 08:36 -0500

So much for the weather. As we warned earlier today, when we said that with everyone expecting a miserable print the only possible result would be a large “beat”, sure enough that’s precisely what happened. Breaking it down:

• February payrolls: +175K, Exp. 149K, Last revised from 113K to 129K).
• Household survey jobs added: 42K, far less than the Household survey.
• Unemployment rate: 6.7%, Exp. 6.6%, Last 6.6%.
• Labor participation rate: 63.0%, Last 63.0%
• Private payrolls: 162K, Exp. 145K, Last 145K
• Manufacturing payrolls: 6K, Exp. 5K, Previous revised from 21K to 6K

Visually:

 

From the report:

Both the number of unemployed persons (10.5 million) and the unemployment rate (6.7 percent) changed little in February. The jobless rate has shown little movement since December. Over the year, the number of unemployed persons and the unemployment rate were down by 1.6 million and 1.0 percentage point, respectively. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (6.4 percent), adult women (5.9 percent), teenagers (21.4 percent), whites (5.8 percent), blacks (12.0 percent), and Hispanics (8.1 percent) showed little or no change in February. The jobless rate for Asians was 6.0 percent (not seasonally adjusted), about unchanged 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) increased by 203,000 in February to 3.8 million; these individuals accounted for 37.0 percent of the unemployed. The number of long-term unemployed was down by 901,000 over the year. (See table A-12.)

Both the civilian labor force participation rate (63.0 percent) and the employment-population ratio (58.8 percent) were unchanged in February. The labor force participation rate was down 0.5 percentage point from a year ago, while the employment-population ratio was little changed over the year. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.2 million in February. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work. (See table A-8.)

In February, 2.3 million persons were marginally attached to the labor force, a decline of 285,000 over the year. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 755,000 discouraged workers in February, down by 130,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force in February had not searched for work for reasons such as school attendance or family responsibilities. (See table A-16.)