Friday, March 4, 2011

Obama could be called the "father of the lie"

Friday’s government report that the unemployment (U.3) rate fell last month from 9.4 percent to 9.0 percent? How could the rate decrease when January only saw a reported increase in payroll employment of 36,000 jobs when some 150,000 new jobs are needed to be created each month just to stay even with population growth?

According to Friday’s, Feb 4, Bureau of Labor Statistics report, a 0.4 percentage point decline in the unemployment rate means “the number of unemployed persons decreased by about 600,000.” Where did the other 564,000 January jobs come from as they cannot be found in the reported jobs data?

The jobs are phantom jobs created by faulty seasonal adjustments.

In other words, the 564,000 people are, in reality, unemployed and are not employed in the non-existent seasonally-adjusted jobs that the government added to the numbers.

It’s Bureau of Labor Statistics magic. Unemployment rose, but the unemployment rate fell.

Using this government ploy, theoretically, the U.S. could have a zero unemployment rate while the entire population is out of work!

Even the measly 36,000 job gain is an illusion created by the faulty “birth-death” model, which guesses that new startups add more jobs each month than business failures subtract. This might sometimes be true, but not during an economic downturn. Without the jobs added by this faulty estimating technique, “the reported January 2011 payroll gain of 36,000 would have been a decline of 52,000!”

The BLS “birth-death” model’s over-estimate of payroll jobs results in quiet annual revisions in the number of employed. In Friday’s employment report, largely unnoticed by the financial press, the BLS reports in its benchmark revision that there were 483,000 fewer people employed in December 2010 than previously reported.

The U.3 unemployment rate is the headline rate. It receives all the media attention, because it only measures 40 percent of the unemployed, thus making the recession look smaller than it really is. No discouraged workers who have given up looking for work are included. The government has a more complete measure of the unemployment rate known as U.6, which includes the short term discouraged (less than one year). That rate is16.1 percent.

The long term discouraged brings the true rate of unemployment to 22.2 percent. This is the REAL UNEMPLOYMENT RATE.

While the BLS was reporting unemployment in February 2011 was only 8.9 percent, the BLS also was reporting U6 unemployment in February 2011 at 16.7 percent.

The only measure BLS reports to the public as the official monthly unemployment rate is the seasonally adjusted U3 number.

The seasonally adjusted U3 numbers reported by the BLS as the official monthly unemployment rate do not give a reliable picture of the true magnitude of unemployment in the United States.

The monthly unemployment rate report turned out by the BLS defines unemployment as those currently without a job who have actively looked for work in the prior 4 weeks, and are currently available for work.

This definition excludes from the definition of unemployed those who have grown so discouraged that they are only marginally looking for work, as well as those who are considered underemployed because they have been forced to accept part-time or lower paying full-time employment because no other jobs are available.

The seasonally adjusted U3 unemployment rate dropped from 9.4 percent in December 2010 to 8.9 in February 2011, the non-adjusted U3 unemployment rate is moving in the opposite direction, from 9.1 percent in December 2010 to 9.5 percent in February 2011.

(Obama spits out his unemployment statistics lie and using the state run media propaganda machine, informs Americans that the unemployment rate is improving.

It is a lie. The numbers include non-existent seasonally-adjusted jobs that don't exist. The 564,000 people are, in reality, unemployed and are not employed in the non-existent seasonally-adjusted jobs that the government added to the numbers.

Even the measly 36,000 job gain is an illusion created by the faulty “birth-death” model, which guesses that new startups add more jobs each month than business failures subtract.

Obama could be called the "father of the lie" because every distorted or deceptive word that comes out of obama's mouth is conceived to deceive.

Obama himself is illegitimate. He was conceived by a lie. His birth origin just like the non-existent jobs are an illusion.)
Story Reports

Fed documents reveal 22.1% unemployment

The Official Gov. Lie about Unemployment

Shadow Government Statistics Analysis Behind and Beyond Government Economic Reporting

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