Friday, May 7, 2010

Dont believe the latest jobs data

Non farm payroll data for the month of April states that the country gained 290,000 jobs. 66,000 census workers and over 180,000 were gains from the birth/death model.

From the BLS report:
"The change in total nonfarm payroll employment for February was revised from -14,000
to +39,000, and the change for March was revised from 162,000 to 230,000."

Also, U3 measure of unemployment rose to 9.9% while the U6 measure, which is a broader measure of unemployment rose to 17.1%.

Basically, the Bureau of Labor Statistics is uses data that is just as cooked as the employment data that law schools use. Lies lies lies. Congratulations, the USA is following in the footsteps of Mao, Stalin, and other command economy nutjobs. Lets all just lie to oursleves so we can feel better about the present situation.

In reality I wouldnt be surprised if the economy added some jobs from the month prior but with so many high school and college grads entering the job force at the end of the month there just arent any places for these to enter. In addition, considering the trillions of dollars the fed and treasury have pumped into the economy, surely some stabilization would have occurred. However, within 6 months this "liquidity" will begin to dry up.

We are living in scam world people, whether it be government jobs data, inflation data, crime data, law school or MBA program data, its all a bunch of bulllllshhittttttttttttttttttttttttttttttttttttttttttttttt.

1 comment:

  1. I am always skeptical of the data. In fact, when they release these reports, I usually chuckle.

    Speaking of Census jobs, I almost got one, but I was an hour too late!


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