US economy is dead in the water, NY Times media BLS and White House employment lies, Robust hiring?, White american employment decimated under Obama, Citizen Wells and Zero Hedge report job facts, Times receives 4 Orwells
“In December 2014 there were 18 million immigrants (legal and illegal) living in the country who had arrived since January 2000. But job growth over this period was just 9.3 million — half of new immigration.”…Center for Immigration Studies February 2015
“There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.”…Gallup CEO Jim Clifton
“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells
Citizen Wells and Zero Hedge have been warning you for many months about the real economy and employment situation in the US.
The mainstream media has reported about the widespread hunger and low paying jobs but they never connect the dots to the real employment data that is actually provided by the US Labor Dept. BLS.
The economy has only been propped up by the Fed and false perception of the job market.
The smoke from the smoke and mirrors is rapidly dissipating, the financial markets are collapsing and little by little reality based reports are surfacing.
From David Stockman’s Contra Corner January 6, 2016.
“Newsflash From The December ‘Jobs’ Report—–The US Economy Is Dead In The Water'”
“Here’s a newsflash that CNBC didn’t mention. According to the BLS, the US economy generated a miniscule 11,000 jobs in the month of December.
Yet notwithstanding the fact that almost nobody works outdoors any more, the BLS fiction writers added 281,000 to their headline number to cover the “seasonal adjustment.” This is done on the apparent truism that December is generally colder than November and that workers get holiday vacations.
Of course, this December was much warmer, not colder, than average. And that’s not the only deviation from normal seasonal trends.
The Christmas selling season this year, for example, was absolutely not comparable to the ghosts of Christmas past. Bricks and mortar retail is in turmoil and in secular decline due to Amazon and its e-commerce ilk, and this trend is accelerating by the year.
So too, energy and export based sectors have been thrown for a loop in the last few months by a surging dollar and collapsing commodity prices. Likewise, construction activity has been so weak in this cycle—-and for the good reason that both commercial and residential stock is vastly overbuilt owing to two decades of cheap credit—–that its not remotely comparable to historic patterns.
Never mind. The BLS always adds the same big dollop of jobs to the December establishment survey come hell or high water. In fact, the seasonal adjustment has averaged 320,000 for the last 12 years!
For crying out loud, folks, every December is different—–and not just because of the vagaries of the weather. Capitalism is about incessant change and reallocation of economic activity and resources. And now the globalized ebbs and flows of economic activity have only accentuated the rate and intensity of these adjustments.
Yet the statistical wizards at the BLS think they can approximate a seasonal adjustment factor for December that at +/- 300k amounts to just 0.2% of the currently reported 144.2 million establishment survey jobs, and an even smaller fraction of the potential adult work force which is at least 165 million.
But that’s a pretentious stab in the dark. The December seasonal adjustment (SA) could just as easily be 0.3% of the job base or 0.1%, depending upon the specific point in the business cycle and structural trends roiling the economy.”
“The real news flash in the December “jobs” report, therefore, is that even by the lights of the BLS’ rickety, archaic and virtually worthless establishment survey, the domestic economy is dead in the water. We are not on the verge of “escape velocity”, as our foolish monetary politburo keeps insisting; the US economy is actually knocking on the door of recession.”
I have tried to keep this simple for our brainwashed, entertainment culture.
Again, straight from the BLS tables.
The impact on white American employment.
When Obama took office in January 2009 there were 116,863,000 white americans employed.
That has only increased 1,432,000.
When Obama took office in January 2009 there were 19,794 Hispanics employed.
That has increased 4,820,000, approx. 25 percent.
Does that match up with what you are getting from the media?
And speaking of lies…..
From Zero Hedge January 4, 2016.
“US Government Discovers 10 Years Of “Processing Errors” In Construction Spending Data Slamming GDP”
“Even as increasingly more parts of the economy, especially those with exposure to manufacturing and industrial production, sink into the recessionary quicksand, one sector that was seen as immune from the malaise gripping US manufacturing and was outperforming the overall growth rate of the US economy, was housing, and specifically spending on private and public construction: a direct input into the GDP model.
That all changed today when the US Census released its latest, November, construction spending data, which not only missed expectations of a 0.6% increase, but tumbled -0.4%, the most since June of 2014, while all the recent changes were mysteriously revised lower.
And then the source of the mystery was revealed: in the fine print of the release, the government made a rare admission: all the construction spending data for the past 10 years had been “erroneous.”
In the November 2015 press release, monthly and annual estimates for private residential, total private, total residential and total construction spending for January 2005 through October 2015 have been revised to correct a processing error in the tabulation of data on private residential improvement spending. An Excel file containg all of the revisions can be found here”
Now from Obama’s Ministry of Truth, the NY Times.
“Robust Hiring in December Caps Solid Year for U.S. Jobs”
“The last time the American economy registered such a prolonged stretch of impressive job creation, Facebook didn’t exist and Beyoncé was still a member of Destiny’s Child.
For all of 2015, the nation added 2.65 million jobs, capping a two-year, back-to-back gain that was the best since the late 1990s, the government reported on Friday.
“I think this really is illustrative of the fact that economic momentum in the United States is still awfully strong,” said Carl Tannenbaum, chief economist at Northern Trust. “In spite of the craziness we’ve seen from Asian markets this week, the fundamentals here at home are still solid.”
The year ended with a particularly strong sprint. In December, employers hired an additional 292,000 people, the Labor Department said, and October and November were revised up by a total of 50,000, pushing the average for the last three months to 284,000.”
For their extremely misleading report on December jobs, the NY Times is awarded 4 Orwells. The only reason they did not receive 5 is at the end they mentioned low wages and part time jobs.