The government put out their sliced, diced, massaged, and manipulated unemployment claims lies this morning. It’s amazing what spits out of their excel spreadsheet model versus what is actually happening. Karl Deninger always posts the UNADJUSTED numbers to see the real picture. Here are the facts:
- The government reported a 4,000 increase in unemployment claims for the week. The real numbers show that 31,479 people actually filed unemployment claims. Just a slight difference. Which number do you believe?
- Now for the really good news. Another 75,500 people fell off the 99 week gravy train. That surely bodes well for the economy.
- Almost 1.5 million Americans are not receiving extended 99 weeks of unemployment today that were collecting one year ago. Of course, the BLS says they have willingly left the workforce and are not really unemployed. All is well.
So we have payroll taxes on those employed going up, we have the number of employed Americans going down, millions falling off the unemployment dole, rising energy and food prices, and full implementation of Obamacare. Sounds like a recipe for an economic boom. Buy stocks.