There’s no BS like the brown stuff tossed at us by the BLS (Bureau of Labor Statistics). Not only do they want us to believe that the economy produced 257,000 jobs in January, during a time in which the energy sector – the largest source of jobs growth since 2009 – was cutting 10’s of thousands of workers, they revised November’s supposed 353k job gain up to 423k. It was the second biggest monthly jobs increase this century. Anyone believe that?
It’s gets better: the notoriously ridiculous birth-death model modeled in a 257k net loss in jobs. How is it possible that economy generated any jobs growth if big companies are dumping workers (see IBM + big oil + oil shale + Radio Schack, etc) and the traditional engine of jobs growth – new business start-ups – were unloading jobs? I’ll tell you how: pure, unadulterated statistical lies.
Oh wait. The BLS one-upped itself on its lies. It took the number of jobs supposedly “created” by the economy in 2014 up to 3.2 million from the original lie of 2.95 million. Now, how is that all possible when we have THIS (source: Zerohedge.com, edits are mine – click to enlarge):
Just a reminder, the only way that the labor force participation rate declines is when the number of people who leave the “labor force” exceed the number of people entering the “labor force.” It essentially means that there’s a huge “reservoir” of people out there who simply gave up looking for work and are permanently
unemployed on the Taxpayer payroll – i.e. unemployment, Social Security Disability, welfare.
Please see this video for a detailed description of just how blatantly distorted the Government’s employment report really is:
I guess in order to make lemonade out of this cyanide-infused lemon the Government served up today, the best part about any Government economic report is watching grown men debate and agonize over the numbers, when the numbers are a complete fairy-tale. It’s like watching supposedly well-educated adults debating the merits of “Spongebob Squarepants” vs. “Sesame Street.”