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Have you heard about the "wonderful" employment numbers that were just released?
Last month, the unemployment rate declined to 7.3 percent.
Somehow this happened even though the percentage of working age Americans with a job actually declined and the number of private sector workers fell by 278,000.
So how did the federal government magically produce a drop in the unemployment rate even though less people have jobs?
Well, they did it by pretending that more than half a million Americans "dropped out of the labor force" last month.
If the government is to be believed, the number of Americans that want to work dropped by an astounding 516,000 in a single month even though the population of our country is constantly increasing.
The federal government continues to feed us absolutely absurd numbers month after month, and at this point "the official unemployment rate" is essentially meaningless.
And when even more people drop out and no longer counted, we'll eventually be able to get the unemployment rate down to 4.5% and we will be told that the economy is going gang buster great. Meanwhile, workforce participation will be below 60%, it's now 63% lowest in 35 years. But not to worry. There's enough food stamps, HUD sec. 8, Obamacare , Obamaphones and SSI for everybody.
Have you heard about the "wonderful" employment numbers that were just released?
Last month, the unemployment rate declined to 7.3 percent.
Somehow this happened even though the percentage of working age Americans with a job actually declined and the number of private sector workers fell by 278,000.
So how did the federal government magically produce a drop in the unemployment rate even though less people have jobs?
Well, they did it by pretending that more than half a million Americans "dropped out of the labor force" last month.
If the government is to be believed, the number of Americans that want to work dropped by an astounding 516,000 in a single month even though the population of our country is constantly increasing.
The federal government continues to feed us absolutely absurd numbers month after month, and at this point "the official unemployment rate" is essentially meaningless.
A. The BLS report directly contradicts the claims of that economic blog. Most government agencies actually lost workers. Education gained 20.1 and the post office gained .3, but the net gain came down to 17.
B. The population is increasing at a decreasing rate. It you looked at the various reports available, the decline in the participation rate was predicted before Bush even ran for president. For the most current time period the 55+ crowd grew by 2.6% vs .4% for the 25-54 group. Once people get into the 55+ group there is a significant drop in labor force participation when compared to the 25-54 group.
A house of cards, yes.....the US Of Retardistan will EVENTUALLY come back to reality:
Jobs, haha, looks for more "Fries with that?" type of jobs!
They will never unwind Fannie & Freddie!
It will be YEARS before they stop the 85 Billion in QE funny money.
Interest rates will stay @ or near zero well through 2016.
Stock market and housing market bubbles will continue to form for quite a while.
Wages....with reference to real dollars/buying power.......will never go up!
Eventually reality will hit.......it will be a lot worse than the last mild correction!
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