Bad News for the American Economy...

obama_no_jobsLast week, the President and his minion went out of their way to tell us how things were starting to get better in America and, with a little more time and patience, Obama will see this economy bounce back.

But for some reason, what the Administration is seeing and what the American people are feeoings seem to be two totally different things…

Riddle me this…

According to the Bureau of Labor Statistics, in July of 2012 there were a total of 142,220,000 Americans working while in August of 2012 there were 142,101,000 Americans working… A difference of roughly 119,000 Americans.

Strange, right…

Especially since in that same period of time the same people reported that the unemployment rate went down, from 8.3% to 8.1% (a key figure as no President has ever been re-elected with an unemployment rate topping 8%).

economic-collapse

During that same period of time, the economy added 96,000 jobs to the economy while it claimed that the US labor force shrank by some 368,000 jobs (important to note, the American population did not go down during that period… it went up). Had those jobs not been wiped off the books, the unemployment rate would actually be 8.4%.

Following me so far???

Here’s where this math gets way funny…

Of those 96,000 jobs the American Government says came into existence during the month of August, the vast majority were added to the books through what the Labor Department refers to as the “Birth-Death model” (which charts the birth of businesses and the death of businesses) - or roughly 87,000 jobs. (This method is highly criticized by economists for being very inaccurate.) This leaves 9,000 jobs actually created in this economy, a number grossly short of the roughly 125,000 jobs necessary to maintain economic growth on a monthly basis.

And August isn’t the only one with fuzzy numbers…

June and July both saw their employment figures “updated”. June, 2012 had originally reported to having 64,000 jobs created only to be revised down to 45,000. July wasn’t much better with the hope building 163,000 jobs created were revisaed down also, to 141,000 jobs created.

Great-Depression-Unemployment-Line

More of that wonderful “change” we can all believe in…

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