Skip to comments.The Insiders: This monthís jobs headlines donít tell the true story
Posted on 07/04/2014 6:03:26 PM PDT by xzins
The headline of todays jobs report, that 288,000 jobs were created in the last month, is positive. At least, it is better than a poke in the eye with a sharp stick. However, as with most economic reports these days, there is a veneer of good news but when you look closer, the White House is using the positive headlines to hide the growing deterioration of the American workforce.
Last month, 523,000 full-time jobs were lost, while 799,000 part-time jobs were added. Another way of looking at these numbers is that almost all of the 288,000 jobs created last month were just part-time positions. And remember, not even that would happen if President Obama got his way and raised the minimum wage during this anemic recovery.
We need more robust job growth in this country, but, specifically, we need good, well-paying, full-time jobs. Right now, only 47.7 percent of adults in America are working full-time. Losing more than half a million full-time jobs in one month is not indicative of a strong, growing economy. Its a red light flashing on the nations dashboard.
(Excerpt) Read more at washingtonpost.com ...
Smoke and mirrors from our fraudulent leaders. As the article says: “After all, the unemployment rate would be zero if everyone just quit looking for work.”
When your statistical method allows your worst possible outcome to be your best possible score, then know that someone is cooking the books.
How did this get in the Washington Post?
this is actually the second one in two days, though more hard hitting than yesterdays: http://www.freerepublic.com/focus/f-news/3175684/posts
Infiltrator posing as an illegal immigrant?
"There are lies, damned lies, and then, there are statistics."
The problem is that the few headline quantitative numbers that government and media media usually highlight (such as "unemployment" / U3) tell people very little about the true state of the actual economy and employment picture, both quantitative (underemployment, labor participation rate, employment demographics etc.) and qualitative (total hours worked, average earnings per hour worked etc.)
For example, replacing full-time jobs that pay $50 per hour with part-time jobs that pay $15 per hour is qualitatively substantially different but would not change the headline numbers one bit, yet at the same time would significantly alter the economic picture.
Once certain numbers are established as "official" indicatiors of economy, employment or inflation, they are used as guides for policies that make them relatively easy to manipulate and to paint a rosier picture, i.e., they become nothing more than politically biased statistical tools.
ObamaCare Spurs Shift Away From 30-34-Hour Workweek - IBD, by Jed Graham, 2013 August 05
Low-Wage Workweek Sliding Ahead Of ObamaCare Fines - IBD, by Jed Graham, 2014 July 03
Obama's Economy: Where Did All The Young Workers Go? - IBD, by Stephen Moore, 2014 June 17