This never grows old. The BLS and the MSM are touting the phenomenal job gains over the last two months. They love to shout the figures from their one survey, while ignoring the data from the more comprehensive household survey. So here is what they are screaming from the mountaintops:
November New jobs – 353,000
December New Jobs – 252,000
Two Month Total – 605,000
Sounds awesome until you try to confirm the numbers with their other survey, which is not shouted by the MSM. Here is the link for your perusal.
http://www.bls.gov/web/empsit/cpseea03.htm
Number of employed Americans in October – 147,260
Number of employed Americans in December – 147,442
Two Month Increase – 182,000
Wow. That tells a different story. How about a few more inconvenient facts? How about the 484,000 working age Americans that decided the jobs market was so fucking good, they decided to leave it all together since October. So we had almost three times as many people leave the workforce as get a job over the last two months. Sounds like a dynamic recovery.
In the last year the number of working age Americans increased by 2.3 million and the number of employed increased by 2.8 million. This should have had a minor impact on the unemployment rate. But instead it plunged from 6.7% to 5.6% because in the midst of a supposed jobs recovery, 1.2 million people just left the workforce. To give you some real perspective on the Obama economic recovery, here are the facts:
Number of jobs added since 2009 – 7,565,000
Number of people who have left the labor force since 2009 – 11,239,000
Number of people who have been added to the food stamp program since 2009 – 13,046,000
The labor participation rate plunged to a 38 year low in December. There are now 101,585,000 working age Americans not working. That's a lot of free shit for us 147 million working Americans to pay for.
If the jobs market is so fantastic, how could average hourly wages DECLINE? How could they only be up by 1.7% in the last year? How could they be NEGATIVE when inflation is taken into account?
