Today Washington and the Media celebrated when the U.S. Bureau of Labor Statistics reported that the U.S. unemployment rate had fallen to 8.3%, the lowest figure since Feb. 2009. Based on this “good” news pundits all over the world are declaring the U.S. economy is making a comeback. But what’s the truth? I’ve read some of the reports, and here’s my analysis of the fraudulent BLS figures.
Do you know what “Americans not in the labor force” means? They are people who have quit looking for work. Between Dec. 2011 and Jan. 2012 the numbers of Americans who have dropped out of the job market increased by 1.2 million. That’s the largest increase EVER in that category for a single month. This is BLS information. You can check it out for yourself. This is the scam the feds are using to make it appear that the unemployment rate has gone down.
Here’s how it works. In Dec. 2011 there were 132.9 million Americans working. In Jan. 2012 there were 130.4 million American working. That’s 2.5 million fewer people working in the span of one month. These people gave up looking for a job. They are no longer in the federal stats reporting system. They have left the workforce. So they no longer show up in any federal reporting agency. They are gone, vamoosed, disappeared, vanished, nowhere to be found in the stats. And Washington and the media call this an improvement.
But the BLS says 233,000 jobs have been created in Jan., and the unemployment rate is down to 8.3%, and it’s time to break out the wine and fire off the rockets and celebrate! What a hoax. If 2.5 million people have dropped out, but only 233,000 have found jobs, how does that equate to a DECREASE in the unemployment rate to 8.3% from 8.9%? What happened to the 2,267,000? They are out of the system. It’s beyond stupidity that so many supposedly intelligent people continue to buy into these fraudulent numbers.If labor force participation, meaning the number of Americans “in the system” were what it was in 2009, the unemployment rate would be 10.2%.
This is what makes no sense:
The government pretending that millions of unemployed Americans have decided that they simply don’t want jobs anymore and then reporting corrupt unemployment figures.
No president has ever been re-elected when the unemployment rate is over 8 percent, so guess what it’s going to be by the time we get to Election Day? Bet it will be manipulated to under 8%.