Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

U.S. 9% Unemployment Rate is a Statistical Lie

Economics / Economic Statistics Feb 10, 2011 - 06:35 AM GMT

By: Submissions

Economics

Greg Hunter writes: The Bureau of Labor Statistics (BLS) released the latest unemployment figures last Friday.  There was a stunning drop to 9% from 9.4%.  How did that happen?  Is the economy really getting better or is the government up to its old statistical tricks.  According to the mainstream media, the economy is getting better and the so-called recovery is alive and well.  


Here’s how the Associated Press reported the story, “The unemployment rate is suddenly sinking at the fastest pace in a half-century, falling to 9 percent from 9.8 percent in just two months — the most encouraging sign for the job market since the recession ended.  More than half a million people found work in January. A government survey found weak hiring by big companies. But more people appear to be working for themselves or finding jobs at small businesses.”  (Click here for the complete AP story.)

“More than half a million people found work in January.”  How?  The BLS reported there was only a tiny gain of 36,000 workers to the payrolls, and even that number is a statistical lie, according to economist John Williams of Shadowstats.com.  In his latest report (last Friday), Williams said, “Incredibly, despite ongoing regular overstatement of payrolls by the BLS, the BLS appears to have upped, not lowered, the excessive biases in its latest rendition.  Without the higher bias, the reported January 2011 payroll gain of 36,000 would have been a decline of 52,000.” 

As for the big drop in the unemployment number down to 9%, you can credit that with something the BLS calls “seasonal adjustments.”   The government takes into consideration things like cold weather and snow when it puts together unemployment figures.  Williams thinks these seasonal adjustments have been distorted by the dismal economy during the past few years.  Williams says, “. . . the extraordinary severity and duration of the economic duress in the United States during the last three to four years has destabilized traditional seasonal-factor adjustments and the related monthly reporting of certain economic series.  The unemployment rate rose in January 2011, not seasonally adjusted.  The 0.4% decline reported in the headline January unemployment rate appears to be a seasonal-factor issue.”  In other words, seasonal adjustment jobs are created out of thin air and are not really there for people.  In reality, unemployment increased slightly.  It did not decrease. 

While we are on the subject of reality, after one year, the unemployed are no longer counted in government statistics.  If unemployment was computed the way BLS did it prior to 1994, the true unemployment rate (according to Shadowstats.com) would be 22.2%.  I wonder why the mainstream media feels compelled to only do stories that support government statistics.  There is bona fide analysis that can show government numbers are rigged to make things look better than reality.

 Yesterday, millions of Americans celebrated the unofficial holiday called the Super Bowl.  In closing, I would like to share part of a comment I received recently from a regular reader named Samantha.  She writes, “We are living in Roman circus-like times!  Keep the people entertained and they don’t have to THINK too much and certainly don’t have to notice the corrupt activities of our elected officials.  The “Stupor Bowl” is an intentional dumbing down of our society.”  Things are a lot worse than the government would like the public to know.

By Greg Hunter

http://usawatchdog.com/9-unemployment-rate-is-a-statistical-lie/

© 2011 Copyright Greg Hunter - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in