Friday, December 2, 2011
Massaging Jobs Numbers
Or job number massaging? (see links)
The latest unemployment numbers dipping below 9% to the magical 8.6%, conveniently just before the holidays.
Does HDD BELIEVE THIS NONSENSE? Absolutely NOT!
The LSM loves these headlines, but it never discusses how these so-called "jobless rates" are calculated.
The BLS (Bureau of Labor Statistics) doesn't count people who have GIVEN UP LOOKING or who's unemployment insurance has RUN OUT.
Going into an election year the BLS and Labor Dept. will be pressurized to continue their massaging of statistics for political expediency.
The real unemployment rate is closer to 17%!