The November Jobs Report

By Sol Palha, GoldSeek

A reporter interviewing A.J. Muste, who during the Vietnam War stood in front of the White House night after night with a candle, one rainy night asked, Mr. Muste, do you really think you are going to change the policies of this country by standing out here alone at night with a candle? Muste replied, Oh, I don’t do it to change the country, I do it so the country won’t change me.

Andrea Ayvazian

The Government’s report appears to be suspect. Jim Rogers openly states that all government statistics are blatant lies.  Our belief is that the numbers are manipulated but the degree and depth of the manipulation is increasingly and becoming more open.

ADP conducts are much broader based and more in-depth survey and this survey is based on hard facts. They reported private pay roll losses of 169,000 for November.  The monster Job employment index which measures on line job demand also dropped. These two reports completely dispute the sudden drop in unemployment from 10.2 to 10% and also make one question the government’s claims that only 11,000 jobs were shed in Nov.  To make matters worse, the government revised the Oct numbers to 111,000 from 190,000 and September’s numbers were revised to 139,000 from 219,000.   Why did it take them almost 3 months to get the facts straight and then how could they be off by such a wide margin?  Something is not quite right.  Now economists are using these readjusted numbers to paint a rosier picture.

If one examines the number of long term unemployed individuals one finds that their numbers are growing. This number grew by 293,000 pushing the total to over 6 million.  Anyone looking for a job for over 27 weeks or more falls under this category.  According to the New York Times, the unofficial employment rate is 17.5%

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