I haven’t written many posts about the BLS bullshit unemployment propaganda for months, because it’s like beating a dead government horse. It seems Obama wants to go out on a high note of falsity. The BLS hilariously reported a 4.6% unemployment rate this morning. The last time the rate was really that low, wages were soaring at annual rates around 4% and interest rates were 6%.
We are lost in a blizzard of lies. Wages FELL in November. They are up a pitiful 2.5% over the last year – BEFORE INFLATION. With real inflation exceeding 5%, average Americans continue to see their standard of living fall.
Here are a few data points the cheerleaders and propaganda artists working on the corporate media shows will not readily reveal:
- The working age population increased by 219,000, while the number of employed Americans rose by 160,000. This translated into a plunge in the unemployment rate from 4.9% to 4.6% because supposedly 446,000 Americans considered their lives so carefree and financially secure they decided to willingly exit the labor force. I guess their Trump stock market gains have put them on easy street.
- The labor participation rate has dropped from 63% to 62.7% since March, back to 40 year lows. Surely a sign of a strong labor market.
- Since March, 1.6 million Americans have left the workforce, while only 765k found jobs, but the unemployment rate has hilariously fallen from 5.0% to 4.6%.
- The bullshit birth death excel spreadsheet fake jobs adjustment year to date has been 869k jobs. These fake jobs created by fake small businesses account for about half of all the new jobs reported in 2016. It’s a fucking joke.
- The number of people between the ages of 45 and 54 (you know, prime working years) employed dropped by 147,000 in November and are 3,000 lower than last November.
- The number of full-time workers fell by 628,000 in November, while the number of part-time workers rose by 678,000. Now you know why wages are falling. Shit Obama jobs are replacing real production jobs.
- It is surely a great sign when multiple job holders are up by 511,000 in the last year. People always take a 2nd job when things are going great. Self-employed Ebay entrepreneurs have also risen by 266,000 in the last year.
I could go on, but at this point what difference does it make. If you actually believe the bullshit being spread by the BLS, you probably voted for Hillary. So it goes.
Anyone with a functioning brain (eliminates CNBC pundits and bimbos) knows the true unemployment rate is north of 20%.
If the fed needs an excuse to raise rates, this is probably it.
“We are lost in a blizzard of lies. Wages FELL in November. They are up a pitiful 2.5% over the last year – BEFORE INFLATION. With real inflation exceeding 5%, average Americans continue to see their standard of living fall.”
Propaganda is rampant and unrelenting. The administration is going full tilt.
The legacy of O will be one of lies and destruction, race baiting, open borders
and unfettered immigration, unrelenting “wars” and the looting of other
countries. There are more serious concerns, examples of treason and corruption,
that could be listed. The phony numbers representing employment stats are
particularly galling. What can we do? We shrug and shake our heads. The
situation is out of control.
I think the U6 is probably the most accurate figure, but maybe a little lower than it should be by at least a full point or more.
I doubt the ShadowStats figures because they really don’t stand up under close scrutiny and analysis.
During the depression unemployment was figured as the number of able bodied men (not including women) who wanted a job but for which there were none available.
Maybe we should figure it that way now to get the truest figure, many of those out of work today simply do not want to work since we’ve made it easier to live without working.
There are 124 million full-time workers supporting 102 million WORKING AGE Americans who are not working. The Shadow Stats number is far more accurate than the U6 number.
I’m 67 – still writing code. I know of more than several hard working, responsible people my age that haven’t worked since 2008, or have had menial jobs – hanging on for Social Security, trying to get by on one spouses income. People who are over 55 are just ‘thrown away.’
I would say the Shadow Stats number is right on – about 20%
Menial jobs are still considered employed.
The underemployment numbers are never talked about either but should be a separate category of related statistics by themselves as should multiple part time job workers or full time with a part time job workers when talking about job creation.
In the end, comparisons are what counts and to make valid comparisons data has to be collected in the same way and analyzed using the same methodology. An apples to oranges thing.
“People who are over 55 are just ‘thrown away.’”
I suppose it depends on the industry but in manufacturing where I live those over 50 are preferred by employers. The over 50 crowd have a few skills, some work ethic, they show up on time and they are not slaves to their iCrap. The company I work for just hired two guys in their fifties. One of the minnies that was called for an interview never even showed up or called.
“blizzard of lies” A great line!
It seems our HNIC can never tell the truth. Everything that comes out of that man’s mouth is either twisted or an outright lie. But I’m envious of him, his ability to repeatedly and continually get out there and lie, lie, lie, well he must have the biggest balls of anyone on the planet.
Biggest balls or stupidest followers.
Maybe both.
I think every time Obama tells one of these lies, he cums down his leg. It’s sort like Pavlov’s dog.
Not only is the truth treason in this empire of lies, but it is also raycissss and hate speech and it smacks of White Supremacy and White Privilege and and and…I’ll think of more..
It’s plainly evident that Barry is decked out in the finest of garb for all to see….don’t say that he’s naked..dat’s raycisss
I agree that the official #s are rigged.
Question-do any of the employment #s take into account the underground & black markets?
I live in one of these areas that used to be rural & is now surrounded by suburbs.It is a fairly low income area with lots of rentals but there are also a lot of small business owners & tradesmen in this area who work off the books.
A lot of these guys are either very slow or out of business.This neighborhood once had 4 or 5 tree services that all had 4-5 guys working plus more when they had a big job going.Now there is only 1 that I know of & he only uses a few guys.
At the beginning of the recession we had a large # of Mexicans & other central Americans around here.Now there are very few.In the words of Mitt Romney they have “self deported.”While there might be people who believe that is a good thing it is for the wrong reason.They left because there is no work.
I do not believe that these guys are counted & I agree that the real amount of unemployment is far north of what the government states.
In the last three months:
Full-time jobs added: -99,000
Part-time jobs added: +638,000
As a consultant, this was a slow year for me. I had a couple of small clients whose work carried me through, but I went through a chunk of savings before it turned around in the last week of October. One project is carrying me now; it will last at least until January, and if we do a good job it will probably renew and carry me through 2017. As it is, I am paying down recently incurred debt and looking forward to rebuilding some reserves.
And I am grateful. Work did not have to come along in the nick of time (I could have lasted a little while longer, but was looking at hardship withdrawals from hard-saved IRAs) and I could have finally gone broke, after a bit. Obama has done nothing for small business but burden and plague them with regulations, and everything for Goldman Sachs, J P Morgan Chase, Wells Fargo and his friends. I hope Trump puts a bunch of them in jail, claws back their ill-gotten gains and throws the fear of punishment into the rest. It can’t come too soon.
” I hope Trump puts a bunch of them in jail, claws back their ill-gotten gains and throws the fear of punishment into the rest. It can’t come too soon.”
Did you hear Trump’s speech 12/1 in Cincinnati? You should listen. He said it doesn’t have to be like this – it was inspiring. Let’s hope he’s right and it gets turned around.
Maybe Trump will make you a millionaire! Best of Luck! Many of the millions not working are 75 or older and are living off of their retirement and social security. You know in the good old days when people actually saved their hard earned money instead of purchasing everything they want now! Foolish people. “I love the uneducated.” DJT
Here’s the link for the speech. Just watch it; worth the time:
https://youtu.be/o0fbDUWe4ko
4.2% unemployment!!!!! Woo hoo! Obama has been telling us all along things were getting better. Everything is all better now. I’m feeling the prosperity. Most dynamic economy on earth.
Now, back to the realworld.
I ran across Shadowstats.com some years back. As with many such “Contrarians”, I joke that it’s nice to see that some young folks agree with me.
My negative attitude goes back to the 1970s. AgSec Earl Butz advised farmers to “Go big or get out.” Many went big. Next thing you know, Willie Nelson was doing Farm Aid concerts. I call that a Clue.
I later found Bonner and Casey and others of that sort. They made much more sense than CNBC or the BLS.
Add all that to my own basic nature and operating style: Old age is quite comfy, thank you. 😀
If you like your unemployment you can keep your unemployment.
flash returns and Zarathustra is revived. Are the planets in alignment? Maybe HSF is correct that something is going on.
Just when I think we have another AWD situation, the old timers come back to life.
I saw a comment from the long lost DaveBee as well the other day.
Who was the guy who flew crop dusters for a living?
I’m guessing BLS stat accuracy and the media howling about how bad they are will start in about two months. Assuming, Hillary doesn’t steal the election somehow, of course.
I saw where Hillary picked up One whole vote in the first day of the Wisconsin recount.
Back in the days of the Soviet Union, their citizens widely believed that if they needed confirmation of anything, it was best to wait until their Communist government denied it; I reckon we’ve reached that point now too in the U.S.
Hopefully Trump will mandate the truth.
One can hope eh!
If not done soon the pathological lying will turn the hollow points of the charts and graphs into rubber bullets that will bounce off with indifference anyone who bothers to take the time to read it.
Then again with the % of morans now over 50. Maybe they can keep on keeping on.
The working premise might afterall be best summed up by 43 when he said fool me once or something to that effect.
Trump said the unemployment is more like 18, 19 or maybe even 20 percent.
So maybe he’ll start out insisting the numbers be calculated accurately.
https://www.youtube.com/watch?v=BjIBaaD30bk
A good sign.
Mnuchin wants to sell Fannie & Freddie.
http://www.thenewamerican.com/usnews/politics/item/24751-trump-s-treasury-secretary-nominee-wants-to-sell-fannie-mae-freddie-mac
ALL OF THIS CONVERSATION IS BASED ON FIAT.
WTF FOLK.
Words alone cannot describe the profound feeling of awe & respect in my heart, DUDE … what a freaking COLOSSAL interpretation & reiteration of an otherwise complicated subject/calculation. Seriously, this is the first article on the subject I’d feel comfortable forwarding to friends/family who not only have a hard time with the whole concept of “our government lies” but also struggles w/ single-digit multiplication.
No doubt “obfuscation of meaning” is one of our countries greatest talents.
So much so, I’m fairly certain there’s a shadow group 100% dedicated to maintenance of “digital wordfuckery.”
With that being said, THANK YOU for your OBVIOUS effort – including stats, calculation & new (scary) concepts in the SAME ARTICLE, and positioning in a universally-easy-to-understand way like you have … is a “God’s gift” kinda thing.
Can’t thank you enough for writing and sharing this … BRILLIANT!