Posted on 01/04/2013 6:14:00 AM PST by Perdogg
A surprisingly uneventful report, as BLS reports that 155,000 Jobs were added in December, right on top of the 156,000 expected, and in line with the number needed to keep up with the growth in the population, or at least the Old Normal growth - in the New Normal only handouts matter. The unemployment rate was 7.8%, vs the 7.7% expected: who else is surprised that the rate is now rising with Obama reelected and when a lower unemployment rate means an earlier end to QE4EVA? The November unemployment rate was revised from 7.7% to 7.8%, just so headlines can proclaim the rate was unchanged, even though it was fractions away from a 7.9% print, compared to November initial 7.7%.
(Excerpt) Read more at zerohedge.com ...
Wow, 155,000 part time gift wrapping jobs added for December!
The new normal.
Here in Pennsylvania they raised the Unemployment Contribution rate from $1 a week to $10 a week. That is a thousand percent increase.
The Pennsylvania Unemployment fund is broke. The state had to borrow 3.8 billion from the feds to give checks to the people who do not work. We PA taxpayers will have to pay back the 3.8 billion at a tune of $500 million a year in interest payments.
There was no net 155,000 jobs counted anywhere.
The Establishment Survey raw count was -243,000 jobs.
http://www.bls.gov/news.release/empsit.t17.htm
Run -243,000 through the Birth and Death Model and seasonal adjustment ==> +155,000
In addition:
The Household Survey raw count was -489,000 people employed.
http://www.bls.gov/news.release/empsit.t01.htm
sorry- they are Not idiots- they know the numbers are made up!- the MSM,congress- all politicians- do not want to
point out the obvious-a made-up economy.
Hey!!- at least they got their PAY RAISE!!
Instead of an “unemployment” rate which can be fudged, the government should report the percentage of Americans who are actually working and paying taxes minus school-aged children and retirees. Can’t fudge that!
As it stands now we are led to believe that if the unemployment rate is 7.8% then 92.2% are actually employed.
The news can then be read: “Of the 120 million adults in this nation between the ages of 18 and 65, 40 million or 33% have jobs and are paying taxes. The remaining 67% are living off the government (our taxes) largess.”
I’ll bet I’m not far off on the percentage!
Instead of an “unemployment” rate which can be fudged, the government should report the percentage of Americans who are actually working and paying taxes minus school-aged children and retirees. Can’t fudge that!
As it stands now we are led to believe that if the unemployment rate is 7.8% then 92.2% are actually employed.
The news can then be read: “Of the 120 million adults in this nation between the ages of 18 and 65, 40 million or 33% have jobs and are paying taxes. The remaining 67% are living off the government (our taxes) largess.”
I’ll bet I’m not far off on the percentage!
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