BLS PHANTOM JOBS IN A FAKE RECOVERY

13 comments

Posted on 1st August 2014 by Administrator in Economy |Politics |Social Issues

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Here we go again. The BLS (Bureau of Lies & Shams) with their monthly propaganda dump that has a confidence interval of about .001%. It’s nothing but bullshit, excel model created, drivel, fed to the masses and designed to provide the Wall Street banks with some excuse for taking the market higher. The fake number came in below expectations, which of course was a positive for the markets. You see, in this warped fucked up country, if too many people get jobs and see their wages increasing, the Federal Reserve would be forced to raise interest rates above 0%. Therefore, the Wall Street shysters would have a harder time borrowing for free and manipulating the stock market higher. Your pain is their gain.

The bankers who run this country love seeing wages growing at 2%, while your everyday living costs rise by 5% to 10%. This forces you to borrow on your credit card at 15% from them in order to survive. Capitalism at its best.

But let’s turn to the latest BLS turd sandwich to see how our awesome economic recovery is progressing:

  • The blaring headline says we added 209,000 jobs in July. Just to let you understand how important excel spreadsheets are to the BLS, the non-seasonally adjusted figure is actually a decrease of 1.1 million.
  • The good old birth death adjustment added 80,000 phantom jobs supposedly created by small businesses. We all know that small businesses are thriving and hiring like mad. Right? What is even more fascinating is that this adjustment should be relatively constant over time for July. In a shocking development, the 80,000 figure was the highest July adjustment in history, 48% higher than last year’s 54,000. It get’s better. Back in 2011 it added 5,000 and in 2010 it subtracted 38,000. The economy is worse this year than last. Why would small businesses, with all the Obamacare mandates, be hiring 48% more people than last year? They aren’t. This 80,000 is complete and utter bullshit.
  • The MSM is downplaying the fact the unemployment rate went up based on the other survey. Let’s examine that data. The working age population went up by 209,000, but the number of employed only went up by 131,000. That is pitiful. And most of these jobs are crappy paying part time service jobs.
  • The number of unemployed went UP by 197,000. Where is that headline? It seems that some of the free shit army was forced back into the labor force as their extended unemployment ran out and their food stamps got cut. It must be getting harder to get on the SSDI rolls as it will run out of money in less than two years.
  • The Obama recovery in the last year has been breathtaking to behold.
    • Working age population – Up 2.3 million
    • Number of people employed – Up 2.1 million
    • Unemployment rate plunges from 7.3% to 6.2%. Hysterical, but this is what your government expects you to believe.
    • 1.9 million Americans have voluntarily left the labor force because their financial situation is SO GOOD, according to your friendly government drones.
    • The labor force participation rate is at 3 decade lows because who needs a job in this economy. It’s a goldilocks economy.

The storyline you will see peddled by CNBC and the Obama loving MSM is that all those Boomers have been retiring, and that is why the participation rate has been plunging. Facts are so inconvenient to the lying fuckers that run this country. It seems those Boomers desperately need jobs because they forgot to save for retirement. Those leased BMWs don’t pay for themselves. The people in their prime earning years lost 142,000 jobs in July. This age group still has 2.5 million less jobs than they had in 2007. If you were wondering why the housing market is tanking and consumer companies are announcing horrible quarterly profits, there is your answer.

Government data – like the American Dream – you’d have to be asleep to believe it.

13 Comments
  1. Administrator says:

    Three books on the desk of every government drone and politician.

    image_statistics_how_to_lie2_0.png

    1st August 2014 at 9:48 am

  2. Administrator says:

    At least consumer spending rose because gas prices were soaring. We got that going for us.

    Consumer Spending Rose By Most In 3 Months Driven By Higher Energy Costs

    Submitted by Tyler Durden on 08/01/2014 08:46 -0400

    For the third month in a row, personal spending missed Bloomberg’s median expectation. However, as incomes rose 0.4% in June so spending also rose 0.4% – its best MoM rise in 3 months. The biggest MoM rise was in energy goods and services (+1.67% MoM – the biggest rise this year) – hardly the things sustainable recoveries are built on.

    1st August 2014 at 9:51 am

  3. Administrator says:

    2014-08-01 07:55 by Karl Denninger

    Payroll Report: +209k

    CNBS is once again claiming goldilocks — horsecrap.

    Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, manufacturing, retail trade, and construction.

    6.2% is up a tick from last month. Let’s look inside.

    Meh. This is, roughly, the month where the cyclical peak happens in the annual job picture. Now this may change this year, and the trend may not follow, but in general compared against 2011 (where it looks like we peaked) things are not really getting better.

    Note both 2000 and 2006-7; the pace in jobs turns before the economy and other macro indicators go down the bowl. We now have half this year in the bag and the “adds” are decelerating.

    Population-adjusted there is no improvement and hasn’t been historically — since 2000! This, incidentally, is why “monetary policy” cannot fix what’s broken in the economy — at the core the problem isn’t monetary policy and hasn’t been over the last 15 years.

    Monetary policy is in fact a scam attempting to paper over the intentional destruction of purchasing power by our Federal Government — asset prices have been substituted for economic prosperity.

    The labor:population ratio was unchanged this month while the “formal unemployment rate” ticked up one.

    Note that the household unadjusted increase is 161,000, but 366,000 people re-entered the labor force, roughly double the actual add.

    Another warning came in the internals in the form of the manufacturing workweek — it was down 0.2 hours. The Chicago PMI missed big yesterday although that was largely ignored in the bloodbath that was already taking place in the markets. This portends a likely miss in the national ISM — particularly with manufacturing hours contracting.

    With utterly nobody looking for a recession and policy rates pinned to the floor it will be rather interesting if the patterns that have historically played pretty well once again turn out to be valid…..

    1st August 2014 at 9:56 am

  4. Stucky says:

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    1st August 2014 at 9:59 am

  5. Stucky says:

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    1st August 2014 at 10:05 am

  6. Stucky says:

    ******** Breaking News today ********

    “Argentina Declared in Default by S&P as Talks Fail —- Standard & Poor’s declared Argentina in default after the government missed a deadline for paying interest on $13 billion of restructured bonds. ”

    http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

    Seems like important news. But, what do I know?

    1st August 2014 at 10:12 am

  7. TJF says:

    So Argentinia was taken down by a Wall St. Hedge Fund billionaire and his pet judge? Nicely played Mr. Scrooge.

    1st August 2014 at 10:28 am

  8. TE says:

    @TJF, Argentina was taken down (third time in less than 30 years! WTG communism!) because their government has tried to control everything, gift everything, while increasing the living standards of themselves and their corporate friends.

    EXACTLY the same as here.

    Which, my hub assures me can NEVER happen here because “we are the reserve currency, and always will be thanks to the Military Industrial Complex.”

    So, in short, no freaking worries, phantom jobs, phantom GDP, real inflation in necessities, more bureaucrats, more regulation, more war, more death, more “freedom,” ….

    What, me worry?

    1st August 2014 at 10:39 am

  9. Dutchman says:

    If memory serves me right – in the past – pre Great Recession – had the MSM / government made a big fan fare about the monthly employment stats??

    The answer is no. Before the Great Recession we knew that our government lied, but now everything is a lie. The MSM is now totally involved in the lie. There must be some collusion between the two.

    Government lies / TSA / IRS scandal / Polize / Bengazi / Illegal immigration / unemployment / inflation / shitty jobs / student loans over $1 trillion / QE forever / manipulated stock market / affordable care act – the shit is going to hit the fan – the wheels are falling off.

    1st August 2014 at 11:03 am

  10. Stucky says:

    TE

    When the shit DOES hit the fan …. you need to keep a close eye on your hub. Heep him away from pills and tall buildings. You will be fine. But, it’s people like him ….. the totally unprepared folks who live in Dreamland or Fairytaleland ….. who often wind up suicidal.

    1st August 2014 at 11:07 am

  11. TJF says:

    Too bad the judge’s ruling didn’t apply to MF Global or othey similar corporate failures where some people make it out ok and some get screwed. I guess the moral of the story is that is ok for Wall St. to screw outsiders, but an outsider is not allowed to screw Wall St.

    1st August 2014 at 11:16 am

  12. TE says:

    @Stuck, oh yeah, my contingency plans are already in place for that. I have plans, savings, stashes, that he knows nothing about. For cripes’ sake, the man gave his brother my WOOD PILE! (little does he know that I’m currently ordering replacements, to be delivered over the next week while he is in Canada). He has forced me into this position.

    I’m in no way concerned about HIM, nor his potential suicide. I am concerned about my daughter, no girl should grow up without a daddy, but, to tell you truthfully, my fear is that he will try to take us with him.

    The number of murder/suicides has been growing since the mid 00’s, you can actually see it through internet searches as the the numbers of hits when you search on “murder suicide 2004) and then just keep changing the year. I know that psychologically, losing the ability to feed your family, or your perceived wealth, is a huge trigger in those whack jobs that kill the wife, kids, then themselves. Well, themselves if they don’t chicken out after killing their family.

    He and I have talked about exactly this. How my fear is that since I’m the one that continues to inform and warn him, that I’ll be the one who gets the blame for it all. Like my voicing my concerns and what I see, is somehow wishing the collapse to be true. Sadly, I’ve seen this play out before with other people. We love to shoot the messenger, don’t we?

    Anyway, I’ve warned him, I’m faster, healthier, younger and a better shot. Plus, by the time he gets home my new bedroom will be finished and I’ll no longer sleep on the couch, but behind a locked door.

    It’s the little things that keep me going. Thanks, as always, for your concern Stuck. ((hugs))

    1st August 2014 at 11:26 am

  13. Econman says:

    Quote:
    The bankers who run this country love seeing wages growing at 2%, while your everyday living costs rise by 5% to 10%. This forces you to borrow on your credit card at 15% from them in order to survive. Capitalism at its best.

    That’s not capitalism as a central bank is a tenet of communism.

    The USA is now fascist as you can’t tell where the government begins & corporations end.

    2nd August 2014 at 4:35 pm

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