Rosy report a ruse
An 8.3% jobless rate?
By John Crudele
The New York Post
Last Updated: 11:24 PM, February 3, 2012
Posted: 11:24 PM, February 3, 2012
Some day, the government is going to put out a good economic report and I’ll be able to say, “Yeah, that really is a good report.”
This isn’t that day.
Everyone, of course, would be thrilled if 243,000 jobs were actually created in the month of January. Hallelujah!
Remember, we are talking about the month when companies go into hibernation because of bad weather and temporary Christmas jobs end. Jobs aren’t created in January. They are lost.
Yet there it is in the Labor Department release yesterday — “total non-farm payrolls rose by 243,000 in January and the unemployment rate decreased to 8.3 percent.”
A lie? Political manipulation? Or maybe it’s just that most people don’t understand what they’re looking at. The answer is the latter.
Those 243,000 jobs are the total after seasonal adjustments.
The question you should be asking is, what’s the un-tampered-with number before the adjustment?
Glad you asked. The Labor Department reported a loss of 2,689,000 jobs in January. ...
Remainder of article @ http://www.nypost.com/p/news/business/rosy_report_ruse_LsXHVA9epmxGzTBHeOW6WP
The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. ~ D.H. Lawrence
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