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Thursday, July 18. 2013

Pay No Attention To That Man Behind The Curtain

I haven't believed the employment figures the BLS puts out.  Not for about 12 years.  They've been poked, prodded and altered in so many ways, they barely pass as reliable.  But now the former head of the BLS is stepping up and confirming what most of us, including Jack Welch and Donald Trump, have known for some time.  The numbers aren't what they seem, the non-recovery isn't adding jobs significantly, and the employment rate is probably closer to the ShadowStats figure.


Keith Hall believes the US economy is a lot sicker than the 7.6 percent unemployment rate would lead you to believe. And he should know.

Hall was, from 2008 until last year, the guy in charge of Washington’s Bureau of Labor Statistics, the agency that compiles that rate. “Right now [it’s] misleadingly low,” says Hall, who believes a truer reading of those now wanting a job but without one to be more than 10 percent.
Posted by Bulldog in Politics at 19:04 | Comments (9) | Trackbacks (0)

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Technocrats don't lie politicians do. Technocracy is therefore impossible.
#1 ErisGuy on 2013-07-18 20:37 (Reply)
Technocrats...would be bureaucrats. Bureaucrats would be human, and therefore political.

And if they weren't, that could well be worse.
#1.1 Sam L. on 2013-07-18 21:51 (Reply)
If they were unicorns and leprechauns, we'd be fine.
#1.1.1 Bulldog on 2013-07-19 08:37 (Reply)
Technocrats would be bureaucrats. Bureaucrats would be human, and therefore political.

And if they weren't, that could well be worse.
#2 Sam L. on 2013-07-18 21:57 (Reply)
Maybe someone will also tackle the phony inflation numbers.
#3 Jim on 2013-07-18 23:00 (Reply)
Wait a minute. You're telling me there are people that believe what the government tells them? They don't teach thinking in school anymore, do they?
#4 Jephnol (Link) on 2013-07-19 06:05 (Reply)
They're called Obama supporters, and represent about 51% of the US.
#4.1 Bulldog on 2013-07-19 08:36 (Reply)
That's a shame. Thinking is fundamental.
#4.1.1 Jephnol (Link) on 2013-07-19 13:29 (Reply)
Its been the greatest lie since the 80's\90's when they went to the U3 instead of the normal U6 figures.

Peter Schiff says its probably double the current figure, since, they cuff on so many 'jobs', and often double-count many.

But, you get the yammer that 'many places are hiring' - quite true, but look at the jobs they offer and the hours - not normal full-time\40hrs of old, but closer to part-time\24-32hrs for most, to keep them below the Obamacare threshold.

In my area, there are plenty of part time, low-wage jobs to be had, but nothing that can support a family. Flipping burgers, mostly, but many firms have hunkered down, just waiting out the O-C mandates, or, other financial Tsunamis that may be coming.

All is not well in the land of Nod..... Detroit is a symptom of a much larger malaise...
#5 fred zeppelin on 2013-07-19 11:27 (Reply)

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