AP January jobs economy report lies inaccuracies misleading statements, Greensboro News Record regurgitates, Sloppy reporting bias or Orwellian lies?
“The (American) press, which is mostly controlled by vested
interests, has an excessive influence on public opinion.”… Albert Einstein
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”
Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984”
*** See footnote below ***
*** Update below ***
There are numerous variations of the AP January 2015 jobs report from around February 7, 2015.
The Greensboro News Record regurgitated their own version in print. I could not find an online version so the print edition is provided in full below.
The News Record has been diligent in fact checking the employment data and record of the NC Republicans in power but when it comes to Obama and the national economy, anything goes.
I am disappointed that instead of fact checking the AP article and presenting the truth, they regurgitated it.
From the Greensboro News Record February 7, 2015.
“Job gains reflect growing recovery
WASHINGTON — A resurgent job market in January signaled that the U.S. economy is finally regaining the kind of strength typical of a healthy recovery — with hiring accelerating, wages rising and people who had given up their job hunts starting to look again.
Freer-spending consumers and steady economic expansion have boosted hiring for the past three months to the most robust pace in 17 years.
In January, employers added 257,000 jobs, after 329,000 in December and a sizzling 423,000 jobs in November, the government reported Friday. The November and December gains were much higher than the government had first estimated.
“The labor market was about the last thing to recover from the Great Recession, and in the last six months it has picked up steam,” said Bill Hampel, chief economist at the Credit Union National Association. “The benefits for the middle class are now solidifying.”
The average hourly wage rose 12 cents to $24.75 in January, a jump of 0.5 percent — the sharpest since 2008. In the past year, hourly pay, which has long been stagnant, has risen 2.2 percent. That’s well above inflation, which rose just 0.8 percent in 2014.
The accelerating job and pay growth now make it more likely that the Federal Reserve will begin raising the short-term interest rate it controls by midyear.
Paul Ashworth, chief U.S. economist at Capital Economics, predicts that the Fed will raise rates from record lows in June.
Investors responded to the better-than-expected figures by selling U.S. Treasurys, sending yields up, a sign that many think a Fed rate hike might be more imminent than they thought before. The yield on the 10-year Treasury note rose to 1.94 percent from 1.81 percent shortly before the jobs report was released.
Stock investors appeared nervous about a Fed rate increase, which could pull down stock prices. The Dow Jones industrial average closed down 60 points, or 0.3 percent, to 17,824.
The unemployment rate rose last month to 5.7 percent from 5.6 percent. But that occurred for a good reason: More than 700,000 Americans — the most in six years — began looking for jobs. Not all of them found work, which swelled the number of unemployed. The influx of job hunters suggested that Americans have grown more confident about their prospects.
Fueling the burst of hiring has been a pickup in economic growth and falling gas prices that offered Americans more money to spend. The economy expanded at a 4.8 percent annual rate during spring and summer, the fastest six-month pace in a decade, before slowing to a still-decent 2.6 percent pace in the final three months of 2014.
There are now 3.2 million more Americans earning paychecks than there were 12 months ago. That additional cash tends to boost consumer spending, which drives about 70 percent of economic growth.
Americans are feeling better about the economy. Consumer confidence jumped in January to its highest level in 10 years, according to a survey by the University of Michigan. And consumers increased their spending during the final three months of last year at the fastest pace in nearly nine years.
A more confident, free-spending consumer could lend a spark that had been missing for most of the 5½-year-old recovery. Americans have been largely holding the line on spending and trying to shrink debt loads. Signs that they’re poised to spend more have boosted optimism that the economy will expand over 3 percent this year for the first time in a decade.
Retailers added 45,900 jobs in January, hotels and restaurants 37,100.
Though jobs in those industries typically offer lower wages, companies have boosted pay as they have scrambled to fill openings. Hourly pay has risen 3 percent in the past year for retailers and 3.4 percent for hotel and restaurant employees.”
The employment numbers used below come straight from the US Labor Department.
It is important to note that every January the Labor Dept. rectifies ( A term used in “1984” ) the data.
Beside each January you will find “1 : Data affected by changes in population controls.”
First lie/inaccuracy: There were 3 million not 3.2 million more people working since last January.
Error of omission: Over 1.3 million of those gains in employment in the last year went to Hispanic/Latinos.
Misleading: “The labor market was about the last thing to recover from the Great Recession, and in the last six months it has picked up steam,” “The benefits for the middle class are now solidifying.”
Misleading: “More than 700,000 Americans — the most in six years — began looking for jobs. Not all of them found work, which swelled the number of unemployed. The influx of job hunters suggested that Americans have grown more confident about their prospects.” That is all conjecture. Remember from above: “1 : Data affected by changes in population controls.”
Did you know?
Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000 were Hispanic/Latino!
We have barely, if at all, recovered all of the jobs lost during the recession and 75% of the job growth went to Hispanic/Latinos!!
The large numbers of young people entering the labor force are the reason that the percent of population working has dropped under Obama. I will examine this more in detail and report soon.
Approx. 9 million people net have entered the population counted by the BLS for employment population since Obama took office. That is the people turning 16 years old subtracted by deaths. That is the reason for the increase in those not in the labor force, not baby boomers as some would have you believe.
There was an increase of over 12 million not in the labor force since Obama took office.
According to Gallup CEO Jim Clifton, the unemployment rate is a big lie.
“The Big Lie: 5.6% Unemployment”
“Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.
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.
And it’s a lie that has consequences, because the great American dream is to have a good job, and in recent years, America has failed to deliver that dream more than it has at any time in recent memory. A good job is an individual’s primary identity, their very self-worth, their dignity — it establishes the relationship they have with their friends, community and country. When we fail to deliver a good job that fits a citizen’s talents, training and experience, we are failing the great American dream.”
The consumer spending noted in the AP report is inaccurate as well, but after seeing the jobs misportrayed, you will not find that surprising.
Reread the article above and see if it squares with the facts and let those reporting this Orwellian crap know that you do not appreciate it.
As noted above, there are millions of young people entering the labor force each year and getting disproportionately clobbered by the economy and jobs market. More on this to come.
*** Footnote added 9:45 AM ***
The Labor Dept. shows approx 15 and a half million more people added to the employment population since Jan 2009.
Obviously some of those are aliens, legal or illegal.
*** Update Feb 23, 7:40 AM ***
I meant to include this important “rectification” to the AP article.
“The labor market was about the last thing to recover from the Great Recession, and in the last six months it has picked up steam,”
There were approx. 1.8 more people employed in the last 6 months. 50 percent of those, approx. 900,000, were Hispanic/Latino.