Jobs Report: Holy Unemployment Check, Batman!

by: James Quinn

Time for the MSM spin machine and the Obamanistas to go into full gear. Even the nonsense numbers reported by the government are a disaster. But, again I urge you to go directly to the real data here.

Here is what is really happening:

  • The number of employed Americans dropped by 173,000 in one month. There were no new jobs added.
  • The number of unemployed Americans went up by 276,000 in one month. So much for green shoots.
  • The number of unemployed Americans has risen by 520,000 since July. (I thought this was a recovery. Obama told me so.)
  • Another 82,000 Americans left the workforce. (I guess they hit the jackpot last month.)
  • The number of Americans that have left the workforce in the last year totals 1,686,000. (Wow. The country is certainly on the rebound.)
  • The employment to population ratio fell to 58.2%, the lowest since women began entering the labor force en masse in the early 1980s.
  • The government unemployment rate surged back to 9.8 percent.
  • The real unemployment rate as found at Shadowstats surged above 23%, approaching the peak levels of the Great Depression. Even the U6 government number sits at 17 percent.

(Click chart to enlarge)

There is no pussyfooting around this one. We are in another great depression. No amount of government lies and mass media misinformation can change that fact. Let's see if Bennie and his band of Wall Street criminals can maneuver the market higher today. Time's growing short for these traitors.

Disclosure: No positions.