**
<http://scottystarnes.wordpress.com/author/scottystarnes/> Those Job
Numbers release on Friday were false...18,000 jobs added is actually 26,000
lost
<http://scottystarnes.wordpress.com/2011/07/11/those-job-numbers-release-on-friday-were-false-18000-jobs-added-is-actually-26000-lost/>
*Scotty Starnes
<http://scottystarnes.wordpress.com/author/scottystarnes/>*| July 11,
2011 at 7:30 AM | Tags: accounting
tricks <http://scottystarnes.wordpress.com/?tag=accounting-tricks>,
economy<http://scottystarnes.wordpress.com/?tag=economy>,
fuzzy math <http://scottystarnes.wordpress.com/?tag=fuzzy-math>, job
numbers<http://scottystarnes.wordpress.com/?tag=job-numbers>,
Labor Department <http://scottystarnes.wordpress.com/?tag=labor-department>,
President Obama <http://scottystarnes.wordpress.com/?tag=president-obama>,
unemployment <http://scottystarnes.wordpress.com/?tag=unemployment> |
Categories: Political Issues
<http://scottystarnes.wordpress.com/?cat=35145>| URL:
http://wp.me/pvnFC-5zq
We all know that the numbers just never seem to add up. The Labor Department
continues to use fuzzy math and accounting tricks to protect President
Obama's ass. As I've constantly stated, the numbers don't
lie<http://www.nypost.com/p/news/business/can_jobs_news_get_worse_just_wait_kujJq1I8GMMrUtceqERkmJ>
.
If you are an American looking for work -- no, make that *pleading* to be
allowed to earn a living -- you already know this: the job market is even
worse than Washington is telling us. And Washington yesterday told us that
the employment situation is just plain ugly.
The Labor Department <http://www.nypost.com/t/Labor_Department>officially
announced that only 18,000 jobs were created during the month of June
compared to May's levels. That's considerably below the 157,000 jobs that
payroll-processing firm ADP said on Thursday were added by companies in the
private sector.
Our economy is said to need at least 150,000 jobs a month just to keep up
with people entering the workforce. So even job growth of 150,000 isn't good
enough.
Worse, not only are newcomers trying to find positions, but *there are also
7.084 million fewer jobs in this economy than there were at the 2008
peak.*So people who'd like to get their careers started are competing
against
millions of experienced job seekers looking to just get back into the game.
*Now for the really bad news: that 18,000 gain announced by the government
yesterday isn't real.*
For one thing, the number of jobs increased in June only because the Labor
Department simultaneously revised downward the number of jobs that existed
in this country during May. It's like moving the fences at Citi Field so the
Mets players can hit more home runs. It might make *Jose Reyes* feel better,
but it doesn't actually make him more powerful.
Without the fence-moving operation in the May employment report, the June
number -- yesterday's number -- *would have shown a decline of 26,000 jobs.*
Then there's another problem with June's employment report. Included in the
18,000 headline number is a guesstimate that 131,000 jobs were created by
newly formed -- and, therefore, invisible -- companies.
If you want to send your resume to one of these companies, don't bother.
They probably don't exist, and neither do the jobs the government thinks
they are creating. *These figments of the imagination of the Labor
Department's computers will probably disappear when the numbers are checked
early next year*.
Look even deeper in the June report and you'll see something else you really
don't want to know. The more broadly defined U-6 unemployment
<http://www.nypost.com/t/Unemployment>rate, which includes people who are
underemployed, *went from 15.8 percent in May to 16.2 percent* in June.
These are workers who want full-time jobs but can't find them. And *the U-6
figure doesn't even include people who've given up looking for work because
they believe it's hopeless*.
Since this entire column is filled with bad news, I may as well give it all
to you at once: The job numbers are only going to get worse in the months
ahead.
Continue
reading>>><http://www.nypost.com/p/news/business/can_jobs_news_get_worse_just_wait_kujJq1I8GMMrUtceqERkmJ>
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