ANOTHER HYSTERICALLY FALSE BLS UNEMPLOYMENT REPORT
from The Burning Platform
It’s that time of the month again, where the Bureau of Lies and Scams issues their latest manipulated, massaged, and falsified unemployment data to the willfully ignorant masses. The MSM will unquestioningly regurgitate the lies with breathless enthusiasm. The Wall Street hucksters will interpret any data as positive for the stock market.
The two headlines flashing across TV screens and websites are diametrically opposed, but none of the talking heads will reveal they can’t both be true. Here are the two headlines from Marketwatch:
U.S. economy adds 173,000 jobs in August
Unemployment rate falls to 5.1%
It is too bad that most Americans are so preoccupied with the latest App on their iGadget, frantically finalizing their fantasy football roster, or so dumbed down by our so called public education system, they have absolutely no clue that it is mathematically impossible for the REAL unemployment rate to fall when only 173,000 jobs are added. The only way this can happen is if the BLS blatantly lies and tells you that hundreds of thousands of working age Americans again decided their lives were so fulfilled and finances so solid, that they don’t want to work anymore. As we all know, this is complete and utter bullshit.
U.S. politicians and government apparatchiks are following the advice of Jean-Claude Juncker:
“When it becomes serious, you have to lie.”
Let’s dig into the BLS reported bullshit and extract some facts which will obliterate the government reported lies:
- The BLS is reporting an unemployment rate of 5.1%, the lowest since April of 2008. If the unemployment rate is really 5.1%, then why does the Federal Reserve need to keep interest rates at 0%? The Fed Discount rate in April 2008 was 2.5%. GDP was only growing at 2.0% in 2008. Today it is supposedly growing at 3.7%. The Fed would not have emergency level interest rates in place if the unemployment rate was really 5.1%.
- The Establishment Survey says we added 173,000 jobs in August. You won’t hear the bimbos on CNBC or Fox mention that the excel spreadsheet generated fake guess birth death adjustment totaled 111,000 in August. Even though we know for an absolute fact that more small businesses have been closing than opening over the last five years, the BLS continues to use historical data to pretend that small businesses are creating more jobs. The 111,000 is absolutely false. In reality, there are 50,000 or more small business jobs being destroyed each month. If the BLS was forced to be truthful, the total number of new jobs in August would be about ZERO.
- Now for the plunge in the unemployment rate. That comes from the household survey. The fact is that 220,000 more Americans entered the work force in August. According to this survey, 196,000 more Americans were employed. In the real world this would result in the unemployment rate going UP. Not in the Bizarro world of the BLS. They expect the peasants to believe that 261,000 Americans, of their own free will, voluntarily left the workforce in August because they don’t need a job to pay the bills, feed themselves, and keep a roof over their heads. The idiocy of this ridiculous assumption is breathtaking to behold. Only an Ivy League educated economist, CNBC shill, or complete and utter moron could believe this drivel.
- The government wants you to believe the economy is improving. Since January, 1.5 million Americans have supposedly dropped out of the workforce. Meanwhile, only 835,000 more Americans got jobs. But the unemployment rate has supposedly dropped from 5.7% to 5.1%. It would be hysterical if it wasn’t so sad. They are going with the Big Lie.
- The Participation rate of 62.6% is the lowest since 1977. Since December 2007, 14.9 million Americans have “willingly” left the workforce while only 4 million new jobs have been created. That’s a recovery in the oligarch books.
- Average hourly earnings rose a “fantastic” 2.2% over the last year. I’m sure the average household, experiencing inflation of 5% or more per year, are thrilled to see their wages going up by 2.2%. Wages of the 140 million non-supervisors was below 2.0%. The chart below reveals the fraud of a reported 5.1% unemployment rate. The law of supply and demand applies in all economic areas. If there really were so few unemployed people in America, wage increases would not be stagnant for the last six years. In 2007/2008 when the unemployment rate was this low, wage increases were in the 3.5% range.
- There are now 94 million Americans supposedly not in the workforce, there are another 8 million classified as unemployed. So we have 149 million employed Americans going to work to support 102 million non-working Americans, and their offspring. It’s even worse than that. Of the 149 million employed Americans, 26 million are working part-time and another 9 million are self employed (selling their old shit on Ebay). That sure sounds like a healthy prosperous economy to me.
- The breakdown of the 173,000 new jobs is even more revealing. The number of high paying goods producing jobs grew by NEGATIVE 24,000. That’s right. We don’t need to produce anything in this country. We added 164,000 low paying Obama shit jobs. We added fry cooks, housekeepers, bed pan emptiers, bartenders, social workers and government union teachers. And you will be thrilled to know there was a surge in government drone employment by 33,000. The Federal, State, and Local governments are bloated and they’re essentially bankrupt, but they keep hiring more drones to control us. Great news!!!
- Now for another smell test. The number of people on food stamps has historically been correlated to how well the economy is really doing. When the economy is improving and unemployment is low, the number of people on food stamps falls. The last time the unemployment rate was this low was April 2008. At that time there were 27 million Americans on foodstamps, costing American taxpayers $35 billion per year. Today there are 46 million Americans on foodstamps, costing American taxpayers $70 billion per year. The number of people on foodstamps has barely budged in the last four years of dramatic economic recovery and plunging unemployment rate.
The lies will continue until morale improves. At the current rate, the BLS will be reporting a 0% unemployment rate in another couple years, as 200 million Americans sit at home watching Jerry Springer and living the good life.