SoT May 9, 2015 – The Government Employment Report: Theater Of The Absurd

Although heralded in the popular media as indicating reinvigorated employment growth and declining headline unemployment, April’s headline reporting of labor conditions and the accompanying revisions was not a happy circumstance. Underlying economic reality remains deteriorating broad activity. Below the surface, the April labor detail did not tell a happy story…   – John Williams,

The U.S. financial markets – and the media’s reporting of all news connected to the markets – have become the biggest farce known to humanity.  The wildly inaccurate methodology used to produce the Government’s non-farm payroll report has become legendary.  So-called financial experts climb on CNBC and Bloomberg and conduct a public display of dissecting and analyzing the numbers as if they are credible.  In my opinion they are doing nothing more than making absolute asses of themselves. The entire spectacle exceeds the mundane  bounds of absurdity by several standard deviations.

The Government and the bubblevision clowns would have us believe that 223,000 people found jobs in April.   But a look “under the hood” of the actual report reveals that 252,000 full time jobs were lost.  This was offset by an alleged increase in 437,000 part-time jobs. But even these numbers require acceptance of the BLS report prima facie.

Even more absurd is the BLS claim that the energy sector lost only 3,300.  It’s an embarrassment to our Government that the BLS would release an official report with that claim in it.   Challenger Gray, which compiles job hiring and firing statistics, reports that the energy sector lost 20,675 jobs during April.

My colleague Rory Hall and I released a brief podcast on our Shadow of Truth Youtube Channel which discusses the  preposterous nature of both Friday’s report and the stock market’s reaction to the report:

3 thoughts on “SoT May 9, 2015 – The Government Employment Report: Theater Of The Absurd

  1. Dave:
    Dialed in to your SOT on this topic and something that caught my attention was your statement on Walmart shedding full time jobs.
    What I recall back in 09/10 was that Wally mart was in full support of Otraumacare – they locked and loaded the double barrel with full intent that this was somehow a plan all along to reduce overhead costs. What a corrupt and utterly immoral regime this crappy retailer is. The FSA wants its free sh*t without understanding at all in their delusion that there is a COST to any decision that is made. In Wally Mart’s case the upper echelon patrician class callously knew that their rank and file employee had no clue what was coming down the pike at ’em. Anyone with half a wit could have seen this coming at ’em.
    What is that stat again on Wally mart that you noted?

    1. WMT is cutting 3 full time jobs and replacing with 5 part time positions.

      BTW, I was roaming around the Cherry Creek North area yesterday. The amount of commercial real estate vacancies is shocking. There’s a whole building vacant and for lease on 2nd Ave in the heart of the district. There’s a huge amount of new space being finished by the end of the summer. It’s a disaster in the making.

      1. Dave:
        thanks for the stat – I missed that on your SOT broadcast. Wally mart = evil in my mind.
        Your comment about North Cherry Creek – did not see that particular during my recent visit to your area. I was looking at the possibility of renting – went over to what seems to be a petrie dish of future marrieds of all ages there at a large apt. complex run by Seasons of Cherry Creek – looked around and I am like outta here!!!

        I say this because the place is filled and yet I look around Cherry Creek and there are retail fronts including the old Sears Store up on First Ave that are either closed or struggling. There is a large structure (steel frame) currently under construction on the main drag there across from the mall at First Av and I thought who is gonna occupy this place – a lot of capital poured into steel and concrete and yet I did not see a sign on site that indicated what this structure is – I suspected apts. above and retail at street level.
        I agree with you- something has to give – salaries and lack of jobs has to ping this market (stawks, housing, bonds, etc.) at some point. And yet ….. so far nothing.

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload CAPTCHA.