October 11, 2012

The truth about jobs

Maybe someone is adding roofies to the water at the Labor Department.  I can't think of any other thing that would make them think they are releasing credible information.

Excellent, concise, plain spoken post about the 'data massaging' can be found here.  (I have heard several business wonks mention that they can NEVER remember when Labor released a report with the caveat that 'one large state didn't report some quarterly figures'.)  In other words, 'The revision to the revision of our fictional jobs report released last week will be quite a doozy, so we are hiding data for a few weeks, hoping no one will notice the real number until they have voted for Blowie - and we are blaming it on a "large" state, so naturally we are alluding to solidly red Texas or Alaska, hoping to scare some votes out of people.  Couldn't be Nevada, Cali or Florida.  Nope, no way.  But we ain't sayin'...yet'.

To accommodate those without two minutes to read (and weep) over the linked post, I have swiped the most compelling illustration of what is going on.  The RED line is the YTD Initial Jobless Claims number AFTER revisions - you know, those quiet little CORRECTIONS Labor makes after the big story is talked to death.  The BLUE line shows the YTD change in the jobless number as reported in the splashy headlines - you know, those things that many people read or hear and then never delve any deeper into.  In summary, red = truth, blue = MSM/Blowie admin spin:


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