I used to take the monthly bullshit pumped out by the BLS and line by line destroy their narrative. But, I got bored and no one cared. Nothing has changed. Today the BLS reported “better than expected” employment numbers according to the MSM talking heads. They said the economy added 1.8 million jobs in July and the unemployment rate fell to 10.2%. Yippee!!!!
As usual, when you actually go their site and look at the reported data, you realize this is a farce. Here’s a link to the data:
https://www.bls.gov/news.release/empsit.a.htm
The smell test is comparing July 2020 with July 2019. According to the BLS, 4.6 million working age Americans voluntarily left the workforce in the last year. That’s funny because it had been going down until March 2020. These people are in the labor force, but can’t find a job. That makes the 10.2% go up to 12.8%.
Another truth bomb is that 45% of working age Americans are not working. That number was 40% a year ago. We now have 143 million (24 million part-time & 9 million self employed) working Americans supporting 117 million non-working adults. Government workers account for 21 million of the 143 million, meaning 98 million full-time private industry workers are supporting the 117 million non-workers and 21 million government drones.
And now for the real head scratcher. According to the BLS, there are 16.3 million unemployed Americans. If this is true, how could the Department of Labor report yesterday show 32.1 million Americans claiming unemployment benefits in July? How can both of these reports be correct?
If 32.1 million Americans are out of work, then the real unemployment rate is 19.6%.
Do you think the unemployment rate in this country is closer to 20% or 10%? Do you believe their narrative?
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This is why professor Carlin told us this 10 years ago:
This is probably more accurate: http://www.shadowstats.com/alternate_data/unemployment-charts
Please don’t stop doing these. I have these discussions offline with real flesh & blood peers. I too used to dissect government numbers. But, to paraphrase Realestate Pup “Maff is Hard”. Actually it isn’t. I just no longer have the free time during the day to begin the dissection.
My favorite Fairy Tale is Seasonally Adjusted statistics.
Maff BE hard and it be rayciss.
What difference does it make? (Harpy)
As a rule, expect whatever economic information the US government passes on to be a lie. After ruining the service, hospitality, and travel markets and thousands of small businesses any statistic they put out should be ignored.
Oh, and by the way, Phil Murphy is an a$$hole.
It’s really more like 50%. John Williams over at Shadowstats is who I believe.
He’s the guy to go to for sure.
Are small business owners able to collect unemployment? I didn’t think they could. Do those stats count the small business owners that lost their businesses? What about self-employed contractors who work for themselves?
There are also a lot of people who sell items they make at festivals and fairs for most of the year and manage to make a decent living that way. Most of those have been canceled.
I don’t think there is any way to truly get a good estimate of the damage that’s been done.
The MSM never talks about any of this. It’s just, cases, cases and more cases. I’m sick of it.
If they pay themselves a salary e.g. S Corp.
Sometime in the past (1971? 1913? Other candidates worthy of consideration) we jumped out a window in a very tall building. A whole bunch of things have occurred in the meantime to make us comfortable as we hurtle DOWN, to our inevitable impact with reality. We have been lied to by almost everyone about almost everything. The liars are desperate to believe that they will be among the chosen few to prosper post-impact. So they lie about everything.
If (after impact, which is unavoidable) we kill every last one of the lying sons-of-bitches, and their families as well if they are want revenge, we might reduce the misery that the common man is in for. I really, really wish I thought that there was any real appetite in this nation for the culling that must occur to preserve the herd. I just don’t see it. Do you?
The culling will happen, but it will be the collapse of the system that does the culling. The rich and powerful will be very comfortable in their well defended gated communities.
So they think. I’m not so sure. They better put cut glass or razor wire on top of their walls around their communities like they do in central America
They will need to eat and have electricity. Where will that come from? Stockpiles don’t last forever. Then they will be at the mercy of the proles.
Brian.
I don’t see it either. Especially here.
Nobody can cook the books like Uncle Sugar. Their numbers are “seasonally adjusted” (manipulated) to tell the story they want to tell.
It is all B S and it’s bad for you, according to a very insightful George Carlin.
The firuges won’t matter in January.
Knowing a Federal Employee in the high 6 figure salary range he was quite frank with me when I asked him what he actually did on the job .
His reply was priceless “BULL SHIT”!
He did 4 years in the Air Force and got a AA degree in accounting while stationed at Andrews for 3 of his 4 year commitment . That’s where he learned to play “THE GAME”!
He got hired under veterans preference to a federal position in DC . He continued his education and moved to the OMB
Office Of Management and Budget . This is where all the figures come to from every government agency and sub committee . From there they put the figures in a Ninja Blender and pour out and print out what different political animals want to announce .
Truth , facts , reality have absolutely nothing to do with it !
He said recently that he would retire but why bother he tele commutes and has more paid leave than he has to work . He goes to the office a few times a month for a circle jerk meeting where they pay each other on the back on what a great service they do for the country at such a bargain price . Retiring with full benefits and 80% plus pay in their 50’s
Remember that when some fuck stick tells you that you owe taxes on your unemployment or social security because you make to much hustling where you can on the part time gigs because your pension and benefit package was bankrupted in 1980 and your life savings is earning zilch point shit in interest income and you owe tax on that .
BOHICA
It must be real and true……stocks are way UP !
As there were no labor statistics during the Great Depression, it was afterwards estimated at a maximum of 25% by the Bureau of Labor Statistics (BLS) economist Stanley Lebergott. He INCLUDED working government employees (for reasons not explained). As governments then employed about 6% of the workforce, this means that the revised ‘consensus’ unemployment during the Great Depression would have been 19%, not 25%.
This was reported on Washington’s Blog in 2011.
http://georgewashington2.blogspot.com/2011/06/unemployment-during-great-depression.html