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Posted on 02/03/2012 4:56:03 PM PST by jazusamo
Congress should investigate cooked employment books
The White House hyped the news Friday that January payrolls had risen by 243,000. The hitch is the Bureau of Labor Statistics (BLS) also dropped 1.2 million from the calculated workforce. Somehow this net loss of a million workers in a single month was transformed into an improvement in the unemployment rate. As the old saying goes, figures can lie, and liars can figure.
“Job growth was widespread,” the BLS reported, but most Americans sense that something isn’t quite right with the numbers. The most important change was the deep decline in the workforce. While the overall population jumped an 1.6 million in January, the workforce declined a record-setting 1.2 million. This figure represents those who out of sheer frustration or for other reasons have dropped out of what the government defines as the active labor pool. They are worse than simply unemployed; they are both jobless and hopeless.
The good news for Obama administration statisticians is that these unfortunates don’t factor into the official unemployment rate, which only counts those thought to be looking for work. So while five people drop out of the system in despair for every new job created, the official unemployment rate declines and the White House enjoys a good news day.
(Excerpt) Read more at washingtontimes.com ...
The biggest red flag re: corruption is the drop of 2% (not 2 tenths, 2 whole points) among blacks.
Are you kidding me? Even if all 243,000 were blacks it would be statistically impossible.
Has anybody seen Juan Williams on Fox news today? He must be orgasmic.
....and Wall Street seems to be falling for it. Stocks were up fairly big today. Just makes one wonder.
Obama’s bogus....
They could have stopped right there and made that the daily headline.
No guff Chet!
Unemployment ROSE in January by 750,000. It did not go down.
ABC Radio News (the official White House news agency) has been hyping this “good news” for Obama all afternoon.
Juan Williams is the biggest racist on TV. Can’t ever watch him again.
But, but, on Hannity today, I heard his forceful claim to be a Christian....what a crock!
Liar...liar...Pants on fire!
Eh. Not so much Wall Street as the HFT algos controlled by the mega banks and financiers (GS, JPM, CITI, etc.) who are funded by the Fed and instructed to keep the DJIA up over 12, 500.
It is a criminally manipulated fraud at this point. Just check the volumes and you’ll see it’s pretty impossible to have the “growth” we’ve had for the past years, and the pattern (no volatility or sell-offs on the surge days and ‘corrections’ every time there is a dive at 11:00 and app. 2:00.)
John Boehner was practically celebrating the numbers today saying that the date is "good news". Boehner needs to go.
There’s Lies, Damed Lies, and Statistics, and now a whole new category: Obama Media Spin.
I wonder if the the propogandists of the old Soviet Union were as gleefully willing as the American Media, or if they were forced to write what they were told?
Would they not be able to tell pretty exactly how many people were working, by counting the people that are paying into the SS system? They have the ability to know exactly how many people are working, they know when someone loses their job and when they go back to work, so all this estimation cr@p is just that.
That is an excellent point. I'm old enough to remember the propaganda coming from the USSR and I'd bet they were forced to write it, if they didn't they no longer had a job and more likely they'd be living in Siberia in a gulag.
Our press today can't wait to print bogus stories like this for the leftists.
The traders and brokers were laughing their asses off at the rubes jumping in with both feet.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/01/Participation%20Rate.jpg
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