It didn’t take long for the blogosphere to dissect this morning’s BLS unemployment report. From theburningplatform.com:
This never grows old. The BLS and the MSM are touting the phenomenal job gains over the last two months. They love to shout the figures from their one survey, while ignoring the data from the more comprehensive household survey. So here is what they are screaming from the mountaintops:
November New Jobs – 353,000
December New Jobs – 252,000
Two Month Total – 605,000
Sounds awesome until you try to confirm the numbers with their other survey, which is not shouted by the MSM. Here is the link for your perusal.
Number of employed Americans in October – 147,260[,000]
Number of employed Americans in December – 147,442[,000]
Two Month Increase – 182,000
Wow. That tells a different story. How about a few more inconvenient facts? How about the 484,000 working age Americans that decided the jobs market was so fucking good, they decided to leave it all together since October. So we had almost three times as many people leave the workforce as get a job over the last two months. Sounds like a dynamic recovery.
To continue reading: http://www.theburningplatform.com/2015/01/09/another-bullshit-bls-report/
Looks like the market may have actually cut through the hype. At 1:42 EST, the Dow is down 159 points after being up earlier. Better get another Fed-Head to say something soon; wouldn’t want Friday to go out on a sour note.