Skip to comments.Faux job numbers could lead to real trouble
Posted on 04/12/2011 5:42:16 AM PDT by Red Badger
Deception is a dangerous thing. You never really know when a lie may turn on you.
Take, for instance, the Labor Department's annual springtime boost in the faux jobs market. While it's nice that the government thinks there is an employment boom coming, this won't be a good development if that boom turns out to be imaginary yet still causes the Federal Reserve to prematurely tighten credit conditions.
Early this month Labor reported that 216,000 new jobs were created in March. It was better than Wall Street expected.
But the figure included 117,000 jobs that the department thinks, but can't prove, were created by newly formed companies that might not even exist. In fact, the department is getting so optimistic about the labor market that it increased this imaginary job count from just 81,000 in March, 2010.
As I've been telling you for months, the spring always causes the Labor Department to goose its job-creation numbers. And maybe sometime in the future this process will be warranted. But during 2009 and 2010 these springtime assumptions -- which are officially called the Birth/Death Model by Labor -- led to major errors in the annual job count.
The next three months should be doozies. In April 2010, the Labor Department guessed that 188,000 jobs were created by these newly formed, maybe nonexistent companies; last May's total job number was jacked up by a 215,000 guess, and June got an artificial boost of 147,000 jobs.
This year, Labor will likely be inserting even bigger faux job totals for each of those three months.
In other words, you still might not be able to get a job in the real world, but there should be plenty of fake jobs for the newspapers to write about and the politicians to brag about in speeches.
(Excerpt) Read more at nypost.com ...
Thanks for posting. I knew those new job numbers were bogus.
And next year, being a re-election year for Obama, there will be at least twice that many phantom jobs created.
The government lies to us every day.
Shocking. The Feds would never do anything like this.
New companies are being formed? Where?
Around here very few. One that has popped up and is doing well is a fancy cupcake place. Weird. Still, it employees 7 people
I guess some people will always buy what the Ministry of Truth is saying.
BLS has recently dropped 2-3 million jobless who no longer get benefits from the overall jobless numbers.
By November, they will probably have dropped a few million more off in order to get the unemployment rate 8% or lower. It will look good on paper/the news programs, but in reality, will be fabricated numbers.
Ironically, Gallup has been running recent unemployment numbers, and those percentages are still around the 10% mark.
The U-6 [un and under employed] is still around 17%.
The BLS numbers are fabricated — to make Obama look good.
Now, if the economists can keep ‘the perception’ that inflation is low and under control, Obama moves way ahead in his re-election bid.
Brazil was booming a couple of months ago when I was down there......and that was before Obamalamadingdong did the loan guarantees to Petrobras.....
THe data provided by the fedgov in the USSA reminds me of headlines from the USSR.
“Grain harvest smashes record!”
Say, “How’s that ‘Hopey Changey’ stuff workin’ out for ya?...............”............
“New companies are being formed? Where?”
The unicorns need horseshoes; those rainbows have to be periodically repainted.
I think the “saved jobs” myth has been busted. At least, I hope so. That was entirely bogus and if there WERE any “saved jobs”, it was because states used the porkulus to pay union salaries and benefits instead of using it for infrastructure as it was intended and each so-called “saved job” was purported to cost 100’s of $1,000’s.
Now that the porkulus is gone, those union workers who had their jobs extended for a year or two courtesy of U.S. taxpayers are now getting pink slips. So much for the “saved jobs”.
imaginary jobs for an imaginary recovery for a fake president ruling over delusional citizens
Right now a person would think that reopublicans wuld get in front of cameras and speaking of rising food prices, gas prices and false jobs numbers.
Debt ceilings, deficits aren’t particulary understood by the masses. They do talk about the new misery in their lives around the kitchen table.
I am positive the GOP can walk and chew gum at the same time if they try.
Republicans need to learn how to get people on their side and take it to the enemies.
They need to have a crew that gets out and talks about gas prices, food prices, jobs etc. before the dems find a way to blame the GOP for it.
They can also have a crew that talks about the budget issues.
In summation, they need to have a PLAN...............
They have to rig the numbers up to show 8% or less unemployment. Childsplay for the masters of deception.
We’re already there. If you surveyed 50 people you’d be hard pressed to find two who actually believe the employment stats the government has been putting out there.
Seems like the job of the GOP is now to try and pacify the Tea Party people. At the same time the Rats are trying to rile up the communist base.
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