JOBS STORY REALITY CHECK

The BLS produced their monthly propaganda regarding our AWESOME jobs market. Trump will tout it as the GREATEST in history. The MSM will mouth the platitudes from their scripts. But, it only takes a few minutes of scanning the data to see through the bullshit. Here are a few observations:

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• Since February, Trump’s first month in office, there are 1.4 million more Americans employed. That’s an average monthly increase of 156,000. During the previous 9 months, under Obama, the country added 1.5 million jobs, or 167,000 per month. That seems like a deceleration to me, but maybe my maff is off.
• The working age population has gone up by 1.7 million since Trump took office, so it has outpaced job growth. But somehow the unemployment rate dropped from 4.7% to 4.1%. Trump raged about fake data during the campaign, but not anymore. He loves fake data now and touts it from the mountaintop.
• We all know by now how the BLS can make the unemployment rate fall even though the working age population grows faster than employment. It seems over 1.2 million working age Americans are so well off, they decided to leave the work force. There are now a record number of working age Americans (95.4 million) not in the labor force according to our beloved apparatchiks at the BLS.
• In the prior 9 months only 518,000 Americans left the workforce. Does an acceleration to 1.2 million leaving seem like a positive trend?
• The participation rate has FALLEN from 63.0% to 62.7% since Trump took office. Is that a good thing?
• The number of men between the ages of 25 and 54 who are working fell in November and is flat from one year ago. The jobs recovery seems to have bypassed men in the prime earning years of their lives.
• The 135,000 increase in multiple job holders in November is surely a great sign. No distress signal there.
• Wages are up 2.5% in the last year. Depending on what inflation rate you believe, that means your real wages are either flat or a negative 2% or 3%. Considering credit card debt has soared above $1 trillion, I’m spitballing by saying real wages are negative.

I’m no fan of Obama, but the accolades about the Trump economic recovery are complete and utter bullshit. Trump’s BLS is the same as Obama’s BLS. They produce misinformation to keep the peasants from revolting. So it goes.