Bureau of Labor Jobs report more lies from "our" Big BrotherSubmitted by emalvini on Sat, 08/04/2012 - 12:34
Bureau of Labor Jobs report more lies from "our" Big Brother
By Paul Craig Roberts
August 4, 2012
In his report on the Bureau of Labor Statistics’ latest jobs and unemployment report, statistician John Williams (shadowstats.com) writes: “The July employment and unemployment numbers published today, August 3rd, were worthless and likely misleading.”
I will spare the readers an explanation of Williams’ account of the manipulation that is occurring as it is too arcane for the general reader.
Instead, Let’s just apply common sense. According to the BLS, there were 163,000 new nonfarm payroll jobs created in July. This figure is about 13,000 more jobs than is needed to keep pace with population growth. Therefore, the unemployment rate should have declined fractionally. Instead, the unemployment rate (U3) rose from 8.2% in June to 8.3% in July.
In case you missed the point, new jobs, a net figure, rose and so did the unemployment rate!