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.