ANOTHER HYSTERICALLY FALSE BLS UNEMPLOYMENT REPORT

20 comments

Posted on 4th September 2015 by Administrator in Economy |Politics |Social Issues

, , , , , , , , , ,

It’s that time of the month again, where the Bureau of Lies and Scams issues their latest manipulated, massaged, and falsified unemployment data to the willfully ignorant masses. The MSM will unquestioningly regurgitate the lies with breathless enthusiasm. The Wall Street hucksters will interpret any data as positive for the stock market.

The two headlines flashing across TV screens and websites are diametrically opposed, but none of the talking heads will reveal they can’t both be true. Here are the two headlines from Marketwatch:

U.S. economy adds 173,000 jobs in August

Unemployment rate falls to 5.1%

 

It is too bad that most Americans are so preoccupied with the latest App on their iGadget, frantically finalizing their fantasy football roster, or so dumbed down by our so called public education system, they have absolutely no clue that it is mathematically impossible for the REAL unemployment rate to fall when only 173,000 jobs are added. The only way this can happen is if the BLS blatantly lies and tells you that hundreds of thousands of working age Americans again decided their lives were so fulfilled and finances so solid, that they don’t want to work anymore. As we all know, this is complete and utter bullshit.

U.S. politicians and government apparatchiks are following the advice of Jean-Claude Juncker:

“When it becomes serious, you have to lie.”

 

Let’s dig into the BLS reported bullshit and extract some facts which will obliterate the government reported lies:

  • The BLS is reporting an unemployment rate of 5.1%, the lowest since April of 2008. If the unemployment rate is really 5.1%, then why does the Federal Reserve need to keep interest rates at 0%? The Fed Discount rate in April 2008 was 2.5%. GDP was only growing at 2.0% in 2008. Today it is supposedly growing at 3.7%. The Fed would not have emergency level interest rates in place if the unemployment rate was really 5.1%.
  • The Establishment Survey says we added 173,000 jobs in August. You won’t hear the bimbos on CNBC or Fox mention that the excel spreadsheet generated fake guess birth death adjustment totaled 111,000 in August. Even though we know for an absolute fact that more small businesses have been closing than opening over the last five years, the BLS continues to use historical data to pretend that small businesses are creating more jobs. The 111,000 is absolutely false. In reality, there are 50,000 or more small business jobs being destroyed each month. If the BLS was forced to be truthful, the total number of new jobs in August would be about ZERO.
  • Now for the plunge in the unemployment rate. That comes from the household survey. The fact is that 220,000 more Americans entered the work force in August. According to this survey, 196,000 more Americans were employed. In the real world this would result in the unemployment rate going UP. Not in the Bizarro world of the BLS. They expect the peasants to believe that 261,000 Americans, of their own free will, voluntarily left the workforce in August because they don’t need a job to pay the bills, feed themselves, and keep a roof over their heads. The idiocy of this ridiculous assumption is breathtaking to behold. Only an Ivy League educated economist, CNBC shill, or complete and utter moron could believe this drivel.
  • The government wants you to believe the economy is improving. Since January, 1.5 million Americans have supposedly dropped out of the workforce. Meanwhile, only 835,000 more Americans got jobs. But the unemployment rate has supposedly dropped from 5.7% to 5.1%. It would be hysterical if it wasn’t so sad. They are going with the Big Lie.
  • The Participation rate of 62.6% is the lowest since 1977. Since December 2007, 14.9 million Americans have “willingly” left the workforce while only 4 million new jobs have been created. That’s a recovery in the oligarch books.

  • Average hourly earnings rose a “fantastic” 2.2% over the last year. I’m sure the average household, experiencing inflation of 5% or more per year, are thrilled to see their wages going up by 2.2%. Wages of the 140 million non-supervisors was below 2.0%. The chart below reveals the fraud of a reported 5.1% unemployment rate. The law of supply and demand applies in all economic areas. If there really were so few unemployed people in America, wage increases would not be stagnant for the last six years. In 2007/2008 when the unemployment rate was this low, wage increases were in the 3.5% range.

    • There are now 94 million Americans supposedly not in the workforce, there are another 8 million classified as unemployed. So we have 149 million employed Americans going to work to support 102 million non-working Americans, and their offspring. It’s even worse than that. Of the 149 million employed Americans, 26 million are working part-time and another 9 million are self employed (selling their old shit on Ebay). That sure sounds like a healthy prosperous economy to me.
    • The breakdown of the 173,000 new jobs is even more revealing. The number of high paying goods producing jobs grew by NEGATIVE 24,000. That’s right. We don’t need to produce anything in this country. We added 164,000 low paying Obama shit jobs. We added fry cooks, housekeepers, bed pan emptiers, bartenders, social workers and government union teachers. And you will be thrilled to know there was a surge in government drone employment by 33,000. The Federal, State, and Local governments are bloated and they’re essentially bankrupt, but they keep hiring more drones to control us. Great news!!!
    • Now for another smell test. The number of people on food stamps has historically been correlated to how well the economy is really doing. When the economy is improving and unemployment is low, the number of people on food stamps falls. The last time the unemployment rate was this low was April 2008. At that time there were 27 million Americans on foodstamps, costing American taxpayers $35 billion per year. Today there are 46 million Americans on foodstamps, costing American taxpayers $70 billion per year. The number of people on foodstamps has barely budged in the last four years of dramatic economic recovery and plunging unemployment rate.

The lies will continue until morale improves. At the current rate, the BLS will be reporting a 0% unemployment rate in another couple years, as 200 million Americans sit at home watching Jerry Springer and living the good life.

20 Comments
  1. NickelthroweR says:

    Greetings,

    I’m ok with this as each and every lie exposes these ass clowns for what they are – ass clowns. That they report unemployment numbers at near historic lows gives everyone who pays attention to this a good laugh.

     

    4th September 2015 at 10:04 am

  2. Backtable says:

    The truly tragic aspect of these reports is how The Lumpen naively buy into it: “The economy must be getting better, they just said so on TV…and they couldn’t say it if it weren’t true….” Unfortunately most people are completely clueless how these number are arrived at and more importantly, what they do and don’t tell you. A more accurate gauge of employment is the number of full-time employed versus the total number of employable persons. The BLS kicks those seeking employment but who can’t find it (“discouraged workers”) off the back of the of the job-search bus and pretends they simply don’t exist, and includes those working only part time but who want full time as though they really are full time! Ta-da! Total government bullshit. “Gee at this rate we’ll have zero unemployment and no one will be working!” Perfect!”

     

    4th September 2015 at 10:12 am

  3. Administrator says:

    by Karl Denninger

    Employment Report: Hmmm….

    Well now…..

    Total nonfarm payroll employment increased by 173,000 in August, and the unemployment rate edged down to 5.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and social assistance and in financial activities. Manufacturing and mining lost jobs.

    Note that 5.1% is below the “start of tightening” target for The Fed, which was 5.2.

    Oops. Note that we’re still not adding enough to cover new entrants to the workforce! So where’s the “improvement” coming from in the official unemployment rate?

    That’s not hard to figure out — The Not In Labor Force number went up by 1.3 million last month. At the same time the actual number of employed people, by the Household Survey, went down by 494,000.

    For perspective last year this was down 618,000, so you can call that “improvement” if you’d like, and this month is one where people typically do leave the workforce (about 1.3 million left last year in August as well.)

    The Labor:Population ratio ticked down by 0.3%, which again is normal for this month.

    How about the internals of the report?

    Last year we had gains in goods-producing employment for August. This year we lost jobs in that category across the board,, with two minor exceptions – construction which was roughly flat (compared to a robust increase last year) and automobile-related (up slightly compared to last year.) All other sub-categories were job losers.

    What did gain? Service providing — specifically, health care (which is bankrupting us) and hospitality (we’ll see what next month looks like, as August is the end of the summer months of course.)

    Government was also up big, compared with basically flat last year.

    Weekly hours ticked up a tenth.

    The troublesome pattern in who is getting hired, however, is continuing. If you have a High School diploma you gained in terms of labor participation. There was, however, no gain for those with some college or a degree.

    In other words the gains continue to happen, on-balance, in lower-skilled no-degree-required positions — which are also lower paid.

    In addition, and this is deeply troubling, the only group among non-disabled persons who had a participation rate increase on a comparative basis were seniors 65 and over. Non-disabled persons among both men and women younger than 65 lost jobs on a participation-rate basis.

     

    4th September 2015 at 10:59 am

  4. Overthecliff says:

    This is why I follow TBP. You don’t get any bullshit from James Quinn. He calls them like he sees them.

     

    4th September 2015 at 11:30 am

  5. Dutchman says:

    Those 94,000,000 not in the work force, most are living on their private yachts, enjoying the good life.

    Think of it this way: Once there are no jobs, and nobody is looking for work, we will ZERO unemployment!

    I do software consulting. If someone asked, I’d say ‘for manufacturing’. Now I say ‘distribution’ – cause all these companies do is buy shit from China and resell it here.

     

    4th September 2015 at 11:30 am

  6. bb says:

    Just read on the Drudge Report 94 + million people of working age are not in workforce. Another 8,9,or 10 million unemployed or underemployed . Who knows for sure.I can tell you as a FedEx contractor business is still good.They keep us moving. I’m in Salt Lake City right now.Plenty of loads going back east some all the way to Pennsylvania. So right now things are ok.

     

    4th September 2015 at 11:34 am

  7. Administrator says:

    New Record In Waiters And Bartenders Masks First Manufacturing Drop In Over 2 Years

    Submitted by Tyler Durden on 09/04/2015 11:09 -0400

    In August, the reality of the oil crunch finally caught up with the BLS, when not only did the number of Mining and Logging employees decline again by 10,000 workers to 823K, the lowest since October 2011, an 8-month stretch of consecutive declines last seen during the previous recession driven by the ongoing weakness in the oil patch and the US shale drilling sector…

    … but far more importantly for those tracking the US manufacturing recession, for the first time in over two years, the US manufacturing sector also lost workers, as 17,000 mfg lost their jobs. As shown in the chart below, this is the first time US manufacturing jobs have declined since July 2013, and the sudden drop means that only 28,000 manufacturing jobs have been added so far in 2015.

    Considering the flurry of subprime-debt driven activity in US auto manufacturing, this was a very unexpected outcome, and those concerned that the US is about to enter, or already finds itself in, a manufacturing recession this will be the most important number in the months to come.

    But don’t worry: while US manufacturing may have peaked, US waiters and bartender are more than making up for it. In August, the US service economy grew by another 26,100 waiters and bartenders, bring the total to a record 11.1 million, thanks to 207,100 “food service and drinking places” jobs added in 2015: nearly 7 times more than manufacturing workers added over this period.

    Putting this all together, since the start of the Second Great Depression, the US economy has lost 1.4 million manufacturing workers, but has more than made up for this with the addition ff 1.5 million waiters and bartenders.

    And there, in one chart, is your minimum-wage recovery.

     

    4th September 2015 at 11:39 am

  8. Backtable says:

    @ bb, I also watch the trucking, rail and airline cargo tonnage…they seem a good barometer of where the economy stands and to some where it’s headed.

     

    4th September 2015 at 11:42 am

  9. Administrator says:

    If everyone is employed why are retail sales in the shitter? Curious minds want to know.


     

    4th September 2015 at 12:08 pm

  10. Kill Bill says:

    BLS

    Bullshit Lies & Stuff.

     

    4th September 2015 at 3:37 pm

  11. Westcoaster says:

    Ain’t it the truth.

     

    4th September 2015 at 6:36 pm

  12. Mad Mel says:

    I work in manufacturing . This shit is tanking,at least in our company. Cut 10% blue collar last fall and they shitcanned another 10% last week(mostly high seniority or insurance users). No raises in 2 years(1% would be usual) , raping people on insurance ,bonuses HA!. Even the rats are starting to jump ship.
    I get in the truck for they ride home today and sure enough .Its all sunshine and roses according to Npr, another great BS report.

     

    4th September 2015 at 11:32 pm

  13. Mark says:

    I listen to Wyoming public radio all day.

    You will understand what Milton Friedman said long ago about the importance of a free press if you did to.

    The government soft soaps people most of the day with pop music and gives them bullshit all day how well everything is doing.

    You get the other side . But the other side will never listen or be informed about your side. Try listening to public radio some time.

     

    5th September 2015 at 10:55 am

  14. Beano says:

    Word got around that the sodomite negro said jobs are being created. So they went and created figures that show jobs are being created, just like what the sodomite negro told them!

     

    5th September 2015 at 4:31 pm

  15. moustache monk says:

    1) “Official” Labor force = 157M
    2) Unemployed not counted in labor force = 94M
    3) “Official” unemployed = 8.2M
    “Official” unemployment rate (3/1) = 5.2%

    4) Real labor force (1 + 2) = 251M

    5) Real unemployed (2 + 3) = 102.2M

    6) Real unemployment (5/4) = 40.7%

     

    5th September 2015 at 5:00 pm

  16. oncefired says:

    They are following the Keynesian Playbook. Lie and Talk up the Economy even though what they say is the exact opposite. They have hidden the soup lines during this Depression by handing out EBT cards, which get used just like a credit or debit card. I know people on SSD that get free healthcare, food-stamps, etc and they all they do is play tennis all day. When my wife was on unemployment we got bombarded with phone calls and mailings telling us to sign up for food-stamps, the marketing was unbelievable. I have rental properties, when I look for a tenant, the number of people that come with Housing Vouchers, Welfare and other Government handouts (which legally I have to consider as income) is unbelievable! The amount these people get from the government for doing tells me they will never get a job and would be stupid to even think about it. People today have no honor, as a kid, its was embarrassing for anyone to be taking anything from the government, now it is the norm! This system has to crash to be fixed – there is no way or no one that can fix the bureaucratic nightmare that has been created. Prepare, I think that crash is closer them most think, I give the FED major credit for keeping things running as long as they did, but we are close, the cliff is a step or two away!

     

    5th September 2015 at 9:08 pm

  17. James says:

    Great Article- spot on.

    Please consider WHY the ads that no dubt help pay for this site HAVE TO cover the interesting charts that can’t be read? There is Plenty of room to push ADS out to the right of the page! Yes ?

    This is a suggestion -hope it’s well received 🙂

     

    5th September 2015 at 11:21 pm

  18. Michael Russian says:

    Absolutely agree with OnceFired. The Overfed, Overentertained and the Purposeless MUST SUFFER in order to exsercise their petit-sized spirit, in order to grow it, as the door to the Truth can only be unlocked with both hands: The Spirit and The Intellect. So far the United States is a FAILED EXPERIMENT. Then, after 1,000 years of suffering, the Spiritual Guides will appear and show the masses the road to the truth.

     

    6th September 2015 at 5:11 am

  19. Rise Up says:

    https://youtu.be/MxMYqgHS2-M

     

    6th September 2015 at 8:59 pm

  20. JUAN REYNOSO says:

    Thanks to the Neoliberalism that begin in the 1980s when Ronald Reagan and Its advocates support extensive economic liberalization policies such as cut taxes for the rich, privatization, fiscal austerity to cut only social service, deregulation, free trade, and reductions in government spending, to enhance the role of the private sector in the economy. Neoliberalism was the Reagan economic and foreign policy and it was introduced by Ronald Reagan in the United States and Margaret Thatcher in the United Kingdom. The transition of consensus towards the neoliberal policies and the acceptance of the Reagan neoliberal economic policies are the root of the financial crisis of 2007–08 and the coming U.S. and the world economic catastrophe on 2016.

     

    6th April 2016 at 2:40 pm

Leave a comment

You can add images to your comment by clicking here.