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8.3% Unemployment Lie

Dan ☮ R P ☮ 2012 ☮ 2012/02/06 12:04:20

8.3% Unemployment Lie




6 February 2012
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By Greg Hunter’s USAWatchdog.com


The most recent unemployment number is a total lie, and that lie was
repeated all over the mainstream media (MSM). Two sins were committed
here, and I don’t know which one is worse. The report was a sham, and
the MSM reported that information without a single question about its
accuracy. In a story carried across the MSM spectrum, the Associated Press said, “In
a long-awaited surge of hiring, companies added 243,000 jobs in January
– across the economy, up and down the pay scale and far more than just
about anyone expected. Unemployment fell to 8.3 percent, the lowest in
three years.”
The report went on to say, “At the same
time, the proportion of the population working or looking for work is
its lowest in almost three decades. The length and depth of the
recession have discouraged millions of people from looking for jobs. The
better news of the past couple months has not yet encouraged most of
them to start searching again.”
(Click here for the complete AP story.)


Here’s a headline for you. If it were not for accounting gimmicks
and what the government calls “seasonal-adjustments,” the unemployment
rate would have gone up, not down! In his latest report, economist John Williams from Shadowstats.com said, “January’s
unadjusted unemployment rate rose to 8.8% . . . The only difference
between those numbers and the headline 243,000 January jobs gain and
8.3% unemployment rate, is how the seasonal adjustments were applied.
There are serious issues with the current quality of those adjustments,
and extremely small distortions in those seasonals can make big
differences in the resulting headline data.”


As far as “discouraged” workers who are not looking
for a job, that is total rubbish put out by the government. The real
story is the Bureau of Labor Statistics (BLS) simply has stopped
counting more than 1.2 million of the unemployed in its report Friday.
Williams goes on to say, “The issues here suggest that the
headline 8.3% unemployment for January has moved well outside the realm
of common experience and credibility, into the arena of election-year
political shenanigans.”
Williams is such a gentleman.
Please take into consideration the government’s “official” or “headline”
number is only based on people being out of work for 6 months or less.
If the unemployment rate was calculated the way BLS did it in 1994 and
earlier, the unemployment and underemployment would be 22.5% (according to Shadowstats.com.)


A recent report by a D.C. consulting firm estimates about 3 million
long-term unemployed have been dropped from the unemployment statistics
in the last few years. (Click here for that story.)
The Obama Administration has predicted the “official” unemployment rate
would be below 8% by the November 2012 election. Heck, if you stop
counting enough people, you can get the unemployment rate down below 5%,
and that will make the 15 million or so unemployed feel really good.
Taxpayers are paying to be essentially hoodwinked by the BLS, and the
mainstream media never questions these numbers.


Meanwhile, on the very day the fantasy unemployment numbers were
released, it was reported that planned layoffs surged. Reuters reported
last Friday, “Employers announced 53,486 planned job cuts last
month, up 28 percent from 41,785 in December, according to the report
from consultants Challenger, Gray & Christmas, Inc. January’s job
cuts were also up from the same time a year ago, gaining 38.9 percent
from the 38,519 layoffs announced in January 2011.”
(Click her for the complete Reuters story.) With
unemployment going up to 8.8% (without the government’s accounting
gimmicks), this jobs report is especially dishonest, but almost every
month the government lies to America about the so-called “recovery.”


Jim Willie at Goldenjackass.com says the government lies about the
economic statistics to hide an economy teetering on the edge of an
abyss. In his latest post, Mr. Willie (who holds a PhD in statistics)
said, “The entire system requires the constant banter of
recovery, legitimacy, hope, and integrity. All are sorely lacking,
glaringly lacking. The economic numbers have few honest series of data.
My favorite honest series remains the income tax payroll withholdings,
which screams of chronic recession in basic tones. . . . The US economy
remains the weakest of all industrialized nations. Its corruption
remains the highest in data reporting. See American Airlines for job
cuts. See the Manhattan banking sector for job cuts. See state and local
governments for job cuts. See college and university construction
projects for job cuts.”
(Click here for the complete Jim Willie report.)


The Federal Reserve just announced an extension of 0% interest rates
through 2014. The Fed didn’t do this because it thought the economy was
going great guns. You can say whatever you like about the Fed (I think
it should be audited on a regular basis), but those folks are not
stupid. For everybody to believe the economy is surging forward, you
have to also believe the Fed and its hundreds of economists got it all
wrong. Last Friday, the government reported an improvement in
unemployment when, in fact, it jumped up, which is why I call Friday’s
jobs number an 8.3% unemployment lie.

Read More: http://usawatchdog.com/8-3-unemployment-lie/

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Top Opinion

  • Freedomwatcher 2012/02/06 15:40:51
    Freedomwatcher
    +4
    Does another lie from the media and government surprise you? This is an ongoing trickery to the sheep er I mean people who happen to wake up just for a milisecond every 4 years to vote.

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  • wildbill 2012/03/10 23:36:32
    wildbill
    Because unemployment insurance records relate only to persons who have applied for such benefits, and since it is impractical to actually count every unemployed person each month, the Government conducts a monthly sample survey called the Current Population Survey (CPS) to measure the extent of unemployment in the country. The CPS has been conducted in the United States every month since 1940, when it began as a Work Projects Administration project. It has been expanded and modified several times since then. For instance, beginning in 1994, the CPS estimates reflect the results of a major redesign of the survey.

    There are about 60,000 households in the sample for this survey. This translates into approximately 110,000 individuals, a large sample compared to public opinion surveys which usually cover fewer than 2,000 people. The CPS sample is selected so as to be representative of the entire population of the United States. In order to select the sample, all of the counties and county-equivalent cities in the country first are grouped into 2,025 geographic areas (sampling units). The Census Bureau then designs and selects a sample consisting of 824 of these geographic areas to represent each State and the District of Columbia. The sample is a State-based design and reflects ur...

    Because unemployment insurance records relate only to persons who have applied for such benefits, and since it is impractical to actually count every unemployed person each month, the Government conducts a monthly sample survey called the Current Population Survey (CPS) to measure the extent of unemployment in the country. The CPS has been conducted in the United States every month since 1940, when it began as a Work Projects Administration project. It has been expanded and modified several times since then. For instance, beginning in 1994, the CPS estimates reflect the results of a major redesign of the survey.

    There are about 60,000 households in the sample for this survey. This translates into approximately 110,000 individuals, a large sample compared to public opinion surveys which usually cover fewer than 2,000 people. The CPS sample is selected so as to be representative of the entire population of the United States. In order to select the sample, all of the counties and county-equivalent cities in the country first are grouped into 2,025 geographic areas (sampling units). The Census Bureau then designs and selects a sample consisting of 824 of these geographic areas to represent each State and the District of Columbia. The sample is a State-based design and reflects urban and rural areas, different types of industrial and farming areas, and the major geographic divisions of each State.

    http://www.bls.gov/cps/cps_ht...
    (more)
  • wildbill 2012/03/10 23:22:47
    wildbill
    It's Romney that keeps lying about unemployment. He KEEPS saying President Obama promised that when he became president the unemployment level would be kept below 8%. President Obama NEVER said that. But it one of those things that they believe if Romney keeps saying it, people will believe it.
  • Gregaj7 2012/02/06 23:52:01
    Gregaj7
    +1
    Everything within ALL muni-corps is total fiction at-law. Thus, lies/deceit are what's reported, because truth is the "anti-matter".
  • LAAD Gunner - USMC 2012/02/06 22:15:59
    LAAD Gunner - USMC
    More government lies, is that such a shocker? Of course the government would rather put out fake numbers to protect a president who is taking us in the wrong direction than put out real numbers that will get someone else put in office that will fix things.

    Not to mention the fact that they're protecting an ineligible President, but apparently things like "Constitutional Eligibility" are out dated these days.
  • Old Timer 2012/02/06 17:47:29
    Old Timer
    +1
    The Obama Media will never publish anything that's going to make him look bad if they can get away with it.
  • Spider20 2012/02/06 17:30:31
    Spider20
    No matter what the media and govt. say about the unemployment figure, it's wrong, and this really should not surprise anybody. It has long been known that so many people have fallen through the cracks of this system and that the govt. is totally out of touch with the real picture....people like my neighbor's son, who hasn't been able to find work for some time now, and who can no longer draw unemployment, are examples....he lost his place and has moved back in with his mother because he had no other choice...I would imagine that's happening to many people all over the US....our govt. and industry leaders are more than marginally to blame for this mess.....and really have no clue as to what is really going on here
  • Kane Fernau 2012/02/06 17:25:27
    Kane Fernau
    +1
    Haven't you heard? The recession is over and everything is awesome. (barf)
  • None Kane Fe... 2012/02/06 18:38:17
    None
    +1
    There is no significant inflation either. Let's party ...(barf)!
  • belle 2012/02/06 16:49:33
    belle
    +1
    of course it is, the media will lie to try to help their boy Obama look good.
  • merlinskiss 2012/02/06 16:30:40
    merlinskiss
    Like it or not, the overall economy is improving and has been very good for Wall Street and most businesses. The truth of unemployment numbers doesn't matter to either of those entities or to the Repubs for that matter. So, pick a Dem or pick a Repub. Net change in things is a big 0! Until you get money out of politics, nothing will change for the middle class or the average American. There are plenty of jobs out there. Problem is, they require skills many Americans don't have and the ones that have been exported (cheap labor), are not coming back. In 2012, your vote won't change a thing! Keep kissing your middle class lifestyle goodbye!
  • Headhunter 13 2012/02/06 15:43:24
    Headhunter 13
    +1
    Just like any religion the faithful and the fearful will believe. More smoke and mirror economics from above
  • Freedomwatcher 2012/02/06 15:40:51
    Freedomwatcher
    +4
    Does another lie from the media and government surprise you? This is an ongoing trickery to the sheep er I mean people who happen to wake up just for a milisecond every 4 years to vote.
  • Jay Theyme 2012/02/06 13:21:27
    Jay Theyme
    +2
    Some very good points in there. From what I understand there is a common statistical trick that occurs (by itself) at the time unemployment runs out when that is how 'looking for work' is measured.
    The other thing that happens is that people who have lost benefits (ran out) or never had them find some kinds of low-paying part-time work.
    So its a strange thing but here is my neighbours situation:
    - Massive lay-offs in 2009 due to USA economic crash. He first lost overtime, raises but soon was laid off entirely as of 2010 from his reasonably paying job. Enough to pay their bills and mortgage.
    - 2010 is on unemployment insurance. uses up any savings.
    - 2011 benefits run out, money ran out, behind on mortgage and bills, eating noodles.
    - Wife gets her old part-time job back for 18 hrs a week at the department store at her old beginners wages barely more than minimum.
    - Husband gets a part-time job working 10 hrs a week sweeping floors at a gym at night.

    Amazingly, this will count as not just 1 person 'back to work' but actually TWO people who can be touted as no longer unemployed and now back to work.
    Yet... they are barely surviving and actually looking at foreclosure no matter what. In fact they now take in LESS money together than 1 of them on insurance!

    But stats say they count as 'no longer unemployed'. Which is true - but you see how its not really 'good news' is it?

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