Tag Archives: Unemployment report

New President–Same BLS Bullshit, by Jim Quinn

Jim Quinn analyzes today’s government unemployment statistics. From Quinn at theburningplatform.com:

I spent most of Obama’s presidency obliterating the jobs recovery narrative every month, as millions supposedly left the workforce because their financial situation was so wonderful. The bullshit shoveled by the BLS was nothing but manipulated misinformation then and it is still bullshit now. Just because the president is now Trump, doesn’t make the false narrative about a strong jobs recovery now valid. After a disappointing December jobs report, the cackling and tooting of horns might die down a little, but the propaganda peddlers will somehow spin it as a positive. Buy Stocks!!!!

Candidate Trump railed against the fake data put out by the BLS. He railed about the ridiculously low interest rates manufactured by the Fed. He declared the stock market was a bubble ready to burst. That was over 5,000 points ago. As expected, now that he is el presidente, Trump embraces the fake data, low interest rates and the most overvalued stock market in history. He tweets about the great economy and stock market every day. GDP has risen at a scintillating 2.5% pace in 2017. This is up from 2% in the prior two years, driven by people going further into debt to survive or buy shit they don’t need.

The narrative being propagated by the corporate MSM was this was the best holiday retail season in years. Americans were back to spending like drunken sailors. Trump is making America great again, so why not spend money we don’t have using that little piece of plastic. Those future tax savings will more than pay the bill. Except for a couple nagging questions.

Why did Sears and Macy’s just announce massive new store closures? Why do they, along with JC Penney and dozens of other retailers, continue to report hundreds of millions in losses? Why did 2017 see over 7,000 store closures and a record number of retail bankruptcies? Why would 20,000 retail jobs disappear in December, the biggest retail month of the year? Why did the country add 203,000 retail jobs in 2016 but lose 67,000 jobs in 2017 if the consumer is back baby? Something doesn’t smell right about the economic boom narrative.


To continue reading: New President–Same BLS Bullshit

Another Bullshit BLS Report, from The Burning Platform

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.