AMERICANS NOT IN LABOR FORCE SURGES TO AN ALL-TIME HIGH

9 comments

Posted on 3rd July 2014 by Administrator in Economy |Politics |Social Issues

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MORE BLS BULLSHIT

The title of my post is slightly different than the blaring headline on Marketwatch. I wonder why?

 

U.S. hiring boom continues as 288,000 jobs added

 

The BLS did their usual monthly propaganda dump and their compatriots in the corporate legacy media dutifully spouted the mantra about a recovering economy. Maybe these faux journalists could ask about the quality of the data when the prior month’s previously announced job growth of 282,000 was “revised” slightly downward to 204,000.

THAT IS A 28% MISCALCULATION. If the numbers I reported to my superiors were off by 28%, I’d get fired on the spot. The government drones at the BLS get bonuses for being that accurate with their bullshit made up numbers. How come their numbers are rarely if ever revised higher? How much do you want to bet that this 288,000 figure will be adjusted dramatically lower next month, and ignored by the MSM?

Now to my headline. The other survey shows the unemployment rate plummeting to 6.1%. Let’s see if this figure passes the critical thinking smell test.

  • If the economy is booming again and businesses are hiring like gangbusters, why did 111,000 more Americans leave the labor force in June? That brings the total to 92.1 million, up from 78.7 million in 2007. So, we have 200,000 more Americans employed than in 2007, while 13.4 million have supposedly left the workforce because life is so damn good. Sure sounds like a recovery to me.
  • Why have 2.4 MILLION working age Americans left the labor force in the last year, while only 2.1 Million Americans found shitty service and part-time jobs in the last year?
  • So, even though there are 2.3 million more working age Americans today than there were one year ago, and only 2.1 million of them found jobs, the unemployment rate has PLUNGED from 7.5% to 6.1%. Thank God for the oligarchs that the average ignorant American is too dumb to understand the propaganda disguised as factual economic data.
  • The labor participation rate stayed at thirty year lows, surely a sign of economic recovery.
  • Wages have increased by an astounding 2.0% in the last year. With a true inflation rate exceeding 5% for things we need to live (food, energy, healthcare), the average working schmuck has fallen further behind.
  • As noted in a previous post, if all these jobs are being created how come there is 50 MILLION square feet more office space vacant today than there was in 2007 when the number of employed was lower? Inquiring minds want to know.

The headline number does not pass the smell test. It smells like a big pile of propaganda shit, designed to keep the sheeple sedated as the fleecing continues. Use your own eyes and your own brain to decide whether the crap put out by your government and proliferated by their propaganda peddlers in the mainstream media is true or false.

9 Comments
  1. bluestem says:

    More OZ. John

    3rd July 2014 at 10:47 am

  2. AWD says:

    110, 000 people are lucky enough to leave the labor force? Did they win the lottery? Get signed up for disability or welfare? Are selling drugs or their Medicaid/Medicare Rx pain meds and xanax? Obama, the BLS, the Federal Reserve, the MSM liars never seem to mention where these folks went, or how their surviving, because they don’t care. It’s a all a big joke, the stock market is booming again today on all this bullshit good news. People really are that stupid, to believe it, while the Fed’s inflation and money printing are wiping out working people with inflation and devalued dollars. Good thing subprime autos and student loan debt (and money printing) are keeping the economy humming along.

    3rd July 2014 at 10:56 am

  3. AWD says:

    Obamacare is still killing off full-time jobs, this time by half a million……

    June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993

    Submitted by Tyler Durden on 07/03/2014 09:29 -0400

    Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!

    Full%20Part%20Time%20June_0.jpg

    Looking at the breakdown of full and part-time jobs so far in 2014, we find that 926K full-time jobs were added to the US economy. The offset: 646K part-time jobs.

    Full%20Time%20LTM_0.jpg

    3rd July 2014 at 11:00 am

  4. Welshman says:

    If GDP dips 2nd quarter we will be in a new recession after 1st quarter of -2.9 GDP was revised downward.

    3rd July 2014 at 11:10 am

  5. Tim says:

    “Maybe these faux journalists could ask about the quality of the data when the prior month’s previously announced job growth of 282,000 was “revised” slightly downward to 204,000.”

    Where does the data in this statement come from? Zero Hedge reported the same thing this morning. I looked at the BLS report, and I do not see this information. In fact, the BLS report states that May jobs were revised upward.

    3rd July 2014 at 12:51 pm

  6. Eddie says:

    Quick! Raise our taxes and print more money. Everything will be fine.

    3rd July 2014 at 2:05 pm

  7. FT says:

    And of course, the Democrat leaning sheeple keep trumpeting these numbers as the gospel truth. If President Romney were in office right now, they’d be questioning the numbers. And Faux News would be trumpeting them as the gospel truth.

    We have maybe 2 or 3 people out of every 100 not mindlessly cheerleading for one of the two “major” parties. It’s about like cheerleading for Al Capone’s gang to wipe out Bugs Moran’s, or vice versa.

    We’re doomed. Guess I’ll stack some more silver.

    3rd July 2014 at 2:24 pm

  8. KaD says:

    According to a major new report from the Center for Immigration Studies (CIS), net employment growth in the United States since 2000 has gone entirely to immigrants, legal and illegal.

    http://www.nationalreview.com/corner/381362/study-all-employment-growth-2000-went-immigrants-nro-staff

    3rd July 2014 at 9:05 pm

  9. T. says:

    I love visiting a website where the author is not afraid to say bullshit.

    3rd July 2014 at 11:07 pm

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