Tyler Durden digs down and discovers that the BLS understates the labor force by 5 million people, so it can report an 8.3 percent unemployment rate instead of the actual 11.5 percent rate. Furthermore — do they really think we’re this stupid? — the BLS reported that the labor force decreased by 1.2 million people in a single month.
This is the kind of blatant manipulation of government statistics we used to see from the Soviet Union, in its effort to convince the world that socialism worked. And the similarity may not be accidental, eh?
Beyond the shameless politicization of federal agency data, however, the larger problem is this: Businesses, especially in the financial services sector, need reliable information about economic activity in order to plan their operations. When the BLS cannot be relied on for such data, it adds to the uncertainty that drives investment out of the private sector.
8.3, 11.5: are not all numbers morally equivalent?
As long as you feel good about the number, it’s OK.
Your quaint longings for facts and reality are rooted in some prior century, sir.
“We’ve always been at war with Eastasia”
Only one of many corruptions. Chicago politics has taught him well.
What’s really funny is that Mitt Romney’s buying The numbers too, of course Mitt has no idea that having Trump standing beside him could make him look ridiculous. Trump likes to fire people, Mitt does too. Trump leaves bankrupt companies behind him, Mitt does too. The guy in Mitt’s machine in charge of campaign optics has to be at least color blind, I’m thinking maybe he uses a seeing eye dog.
I started out with a similar harangue, and then I read a post over at Maxed Out Mama’s econoblog (everybody needs to add Mama to their reading list), where she points out that there is an annual adjustment of BLS figures every January.
[…] higher inflation.”As Bill Quick notes, energy costs are substantially up. However, as Stacy noted this morning on the job numbers, integrity is not our government’s strong suit.Returning to the topic of […]
[…] racist, incompetent boob that is Eric Holder. The media is attempting to distract us with false employment numbers and the ginned-up Komen crisis. Most citizen activists are very much following the aftermath o Fast […]
I agree, insane for Mitt not to challenge this data. He is so afraid it is right and he might look foolish.
As usual, Rick Santelli is a voice of reason on this stuff…
Separated at Birth: Tim Geithner and…?
My Weekly Obama Jobs Report, the Illusion of Falling Unemployment edition…
I started this weekly series half a year ago, back when Obama was promising to “focus like a laser on jobs.” Was I skeptical of his intentions? Well, sure. He’s a putz. But now it’s obvious he’s much more than just an incompetent hack. He’s using…
Smitty’s right: You must come to love Big Brother.
Ya beat me to the Orwell reference – well played.
Yes, and it is typically a larger adjustment when the newest Census is applied, like this year.
The reason the numbers appear to be manipulated is Obama has driven more people out of the work force than ever, it’s at its lowest since 1983 – not adjusted for population.
So the system was always structured this way because labor force growth was just taken for granted, it seemed a waste of time to try to incorporate it. Just like “discouraged workers,” a number which ranged from 1.3% to 1.8% of the work force from the time they started measuring in the ’80s up until Obama, when it exploded.
It’s no conspiracy (which news will be greeted with great gnashing of teeth in some quarters) – when the measurements were designed, no one imagined we would ever have a President this bad.
“Furthermore — do they really think we’re this stupid? ”
Yes. And for at least 51% of the voters in the USA, they are probably correct. Unfortunately.
This manipulation of the unemployment numbers has been SOP for quite a few administrations. Obama merely takes it to the next level, i.e., outright lying.
Mitts just doesn’t want to exclude himself from the practice during his administration, is all.
[…] THE OTHER McCAIN: Lying With Numbers: How Obama Has Corrupted the Bureau of Labor Statistics […]
[…] unsettling facts reported by The Other McCain, How Obama Has Corrupted the Bureau of Labor Statistics: Tyler Durden digs down and discovers that the BLS understates the labor force by 5 million people, […]