Job Market Theoretically Booming

by: James Quinn

This employment report is beyond laughable. Click the PDF file to see the chart. Here are the key takeaways:

  • The working age population of the US went up by 191,000 over last month.
  • According to your friendly neighborhood government bureaucrats at the BLS, the number of people in the workforce DECLINED by 348,000. They must have all hit the lottery.
  • In the last year, the working age population has grown by 2 MILLION people, while the number of people in the workforce, ACCORDING TO THE GOVERNMENT, has declined by 1 MILLION people. Amazing development!!!
  • Somehow, using secret Govenment formulas, there are 1 million less people employed today than in June 2009 and the Unemployment rate is exactly the same at 9.5%.
  • The percentage of people employed versus population at 58.5% is the lowest in decades.
  • The number of people NOT IN THE LABOR FORCE is 3 MILLION higher than June 2009.

This is a horrific jobs report. We’ve spent $3 trillion and there are 1 million less people employed than at the height of the crisis last year. During this time, 2 million more people joined the potential workforce. The slimy lowlife Democratic mouthpieces will be on CNBC and in the Rose Garden touting the decline in the unemployment rate to 9.5% as a sign of imminent recovery. They are bold faced lies. These statistics are tortured to make them appear better than they really are.

By the way. The great Birth Death adjustment added 147,000 fake jobs. That is more than the total jobs added by the private sector. That means that we actually lost jobs, even excluding the Census layoffs. The BLS is a joke.

2010 Net Birth/Death Adjustment, not seasonally adjusted (in thousands)
Supersector Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mining & Logging -2 0 1 1 2 2
Construction -97 1 14 22 41 24
Manufacturing -32 4 4 -7 7 5
Trade, Transportation, & Utilities -73 5 12 8 26 15
Information -14 6 -1 1 5 1
Financial Activities -36 2 3 -5 8 5
Professional & Business Services -116 29 10 63 27 16
Education & Health Services -16 16 0 24 13 -7
Leisure & Hospitality -24 29 34 73 78 80
Other Services -17 5 4 8 8 6
Total Nonfarm Birth/Death Adjustment -427 97 81 188 215 147
Click to enlarge



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