Sometimes, the government makes statements that are obviously wrong. Yesterday's jobs report was one of those times. Think about it. In May, the economy created 11,000 jobs. In fact, if it weren't for government jobs, the total number of jobs declined slightly. Unemployment stayed constant, however, at 4.7%. In June, the economy created just under 300,000 jobs. Unemployment rose to 4.9%. These are official government figures released yesterday by the Labor Department.
Let's be clear. There is no way that those government numbers make sense. NONE! First, the economy did not suddenly go from treading water to bringing in new employees by the bushel. We all lived through June and nothing like that happened. Second, we know that the economy has to create something like 150,000 to 200,000 jobs each month just to keep the unemployment rate steady. In May, it created none and yet unemployment did not rise. In June, it created way more than needed and yet unemployment rose significantly.
I wonder why the Labor Department bothers to issue statistics when we can all see that they are flawed. Actually "flawed" is too nice a word. The statistics are nonsense.
Let's be clear. There is no way that those government numbers make sense. NONE! First, the economy did not suddenly go from treading water to bringing in new employees by the bushel. We all lived through June and nothing like that happened. Second, we know that the economy has to create something like 150,000 to 200,000 jobs each month just to keep the unemployment rate steady. In May, it created none and yet unemployment did not rise. In June, it created way more than needed and yet unemployment rose significantly.
I wonder why the Labor Department bothers to issue statistics when we can all see that they are flawed. Actually "flawed" is too nice a word. The statistics are nonsense.
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