Sunday, August 14, 2016

More Fantasy-Jobs From U.S. ‘Recovery’

March 31, 2011 by · Leave a Comment 

By Jeff Nielson, Bullion Bulls Canada

It becomes more and more difficult to discuss U.S. employment “statistics”, since an ever greater percentage of what is presented is simply total fabrication. The U.S. Bureau of Labor Statistics (BLS) might as well abbreviate its name to “Bureau of LieS”, as none of the reports it produces bear any resemblance to the real world.

To this mountain of fiction we can now add the “ADP” monthly-payrolls report. This statistic is supposed to be beyond manipulation, as its data-stream comes directly from the payrolls of U.S. employers. However, look at “the fine print” and we will see that its report represents the data of less than 1/6th of total employment.

When their reporting excludes more than 80% of the U.S. economy, it obviously becomes very easy to “stack the deck”. As an easy example: the U.S. is (still) embroiled in two (and now three?) “wars”. With the biggest war-machine in the history of the world, certainly more than 1/6th of the U.S. economy is devoted to simply servicing that war-machine.

Thus all that ADP Employment Services needed to do to create a “U.S. economic recovery” is to focus its reporting on U.S. companies which derive a substantial part of their revenues from the U.S. military – a very long list. Having established that this data-stream could have easily been skewed to the point of total irrelevance, the question then becomes: is there evidence of such fabrication?

Fortunately, there remain a few niches of data reporting in the U.S. economy which have not yet been completely “sterilized” by the U.S. government’s propaganda-machine. When such data is depicted in the form of long-term charts, those charts paint an irrefutable picture of an economy mired not merely in a “recession”, but one which is clearly experiencing a depression.

Let’s start with the one measurement of the U.S. unemployment rate which is still in the same ballpark as real-world numbers: the “U6” measurement.

First let’s look at the overall level. Current U.S. unemployment is about 16% – nearly double what the U.S. government pretends it to be. Note the tiny improvement from the worst level. The roughly 1% decline in this rate takes it back to where it was when the U.S. government claimed that the U.S. economy had “hit bottom”.

More articles from Bullion Bulls Canada….

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!