Friday, February 5, 2010

9.7% Smells Like BULL**** Too.

"This past January, the economy lost 20,000 jobs, and the unemployment rate dropped to 9.7 percent.according to a press release from the Department of Labor.

Am I the only one who sees something ironic here? We lose 20,000 jobs, but the unemployment rate drops.I have previously stated that 10% unemployment # is BULLS*** Well 9.7% is as much Bull****.
The government said that whoops, we undercounted the number of unemployed for the whole last year. Could you please add 800 thousand or so to the numbers. Oh can you change those seasonally adjusted numbers too?
The Labor of Bureau Statistics admitted 16.1 million classically unemployed Americans for January compared to 14.7 million from the month before. With the miracle of seasonal adjustment, January had 14.8 million Americans unemployed compared to 15.3 million in December. In essence, the unadjusted statistical unemployment rate is now 10.6%. And if we add in those discouraged, we are around 18%.
They are pulling the wool over our eyes