imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Subscribe Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

CopWatch LA

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List





IMC Network: www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech
printable version - js reader version - email this article - view hidden posts - tags and related articles

Cooked or Accurate US Employment Numbers?

by Stephen Lendman Thursday, Oct. 11, 2012 at 8:54 PM
lendmanstephen@sbcglobal.net

class war

Cooked or Accurate US Employment Numbers?

by Stephen Lendman

For over a decade, US job prospects have been dismal. Since crisis conditions erupted in 2008, they've been dire for millions wanting work.

Since Obama took office in January 2009, job creation has been pathetic. Numbers reported during the weakest US recovery on record largely failed to compensate for others lost.

Monthly Labor Department (BLS) data report inaccurately. America's broken jobs engine isn't explained. The latest 7.8% unemployment rate is blarney. Based on the 1980s calculation model, real unemployment approaches 23%.

You'd never know it from irrational exuberance following the October 5 BLS report. "Better News on Jobs" headlined a New York Times editorial, saying:

The report "was stronger than expected." It's also true that more needs to be done "to maintain and create jobs," The Times admitted. It also called the unemployment rate drop from 8.1% to 7.8% "partly due to a statistical fluke and partly to more part-time employment."

It has nothing to do with the latter. It has everything to do with huge numbers of workers dropping out of the labor force monthly for lack of jobs. Healthy economies have them for virtually anyone wanting work. No longer.

Moreover, most jobs created are poor temporary or part-time low wage/low or no benefit ones. People take them to eat and avoid having to sleep on city streets.

The Times left unexplained what's most important to know. A Washington Post editorial was worse. It headlined "Jobs report shows an economy on the move," saying:

Before taking office in January 2009, Obama told Post editors that job creation was his "number-one priority." Grade him F for not delivering or trying.

Not according to the Post, saying: "Friday's employment report gave Mr. Obama a reason to crow."

"Unemployment probably would have been worse but for some of (his) policies…."

False! Obama helped Wall Street, not Main Street. His so-called fiscal stimulus went mostly for corporate tax cuts and others to rich elites. Ordinary people got austerity, not help. Current dire conditions show it.

An October 9 NYT editorial claimed otherwise. Headlined "Conspiracy World," it covered more than unemployment. It said many Republicans see Obama "as the center of a broad and malevolent liberal conspiracy to upend the truth."

Both parties and supportive media scoundrels wage relentless war on it.

The latest unemployment numbers "make the administration look good." They're, in fact, dismal, but Republicans take issue with anything appearing to help Obama, even if untrue.

Some called the latest BLS numbers "cooked." The Times berated anyone "mistrust(ing) the most basic functions of government."

They should be exposed and denounced for what they are.

BLS and other federal bureaucrats resist "political pressure and manipulation," claimed The Times. Conspiracists claim otherwise. Sometimes they're right. Insiders don't go public and admit it.

Instead of giving Obama undeserved credit, the Post, Times and other supportive media should explain how badly he failed.

Economist Paul Craig Roberts excels in doing it. On October 5, he headlined "Another Phony US Employment Report: Spiraling Number of Involuntary Part-Time Workers," saying:

BLS reported jobs created fell way short of population growth. Healthy US economies would be producing nearly three times the reported number monthly.

BLS said 2.5 million "persons were marginally attached to the labor force." Orwell couldn't have said it better. They want work but can't find it. BLS made them non-persons. Millions of others bump dangerously close to the same status.

America's economy is sick. Roberts explains it often. He omits ambiguity. He says what people need to know. Dire US employment prospects show up monthly in huge involuntary part-time worker increases. Similar full-time dropouts also reflect it.

High-paying/good benefit full-time manufacturing, high-tech, and other professional jobs are disappearing. They're now offshore in low-wage countries.

Growing numbers of Americans must settle for part-time Walmart, bartending, waitressing, ditch-digging, and other rotten service jobs they don't want but have no choice.

America's "New Economy" is as phony as Iraq's WMDs. Reality falls way short of rhetoric.

Economist Jack Rasmus appears regularly on the Progressive Radio News Hour. He reports accurately on economic and financial conditions. Like Roberts, he explains what's most important to know. He's world's different from tout-TV analysts and business press headlines.

He questioned the accuracy of BLS jobs reports. They're not falsified, but something very much is wrong and has been previously.

For the last three years, an unexplained phenomenon repeated. Rasmus is one of few economists explaining it. It's significant and needs highlighting. It suggests something out of whack, besides much else about suspect and inaccurate BLS reporting.

Each fall and winter, well above trend job gains are reported. In contrast, every spring/early summer gains "collapse. There is indeed something going on with the jobs numbers, though it's not falsification," says Rasmus.

Last month's Household Survey mysteriously showed outsized gains. Given current conditions, they made no sense. They reflect one or two phenomena, believes Rasmus.

Employers are either replacing full-time workers with part-time/temp ones, or they're hiring for the latter two categories because economic prospects aren't encouraging.

In calculating its headline U-3 unemployment rate, part-time workers count the same as full-time ones. Hiring them in place of permanent employees reflects "very weak labor market" conditions.

Fictitious new business formations also help explain inordinately high part-time hiring. Estimates are suspect. Media scoundrels report them like gospel.

Something is very wrong with BLS reports. Problems are more extensive than one month's numbers. When divergence is so great between the Establishment (Payroll) and Household (Population) Surveys, something indeed is amiss.

As or more important is the extraordinary seasonal divergence. One year's aberration wouldn't matter. Three consecutive years shows something else entirely. "Something is wrong."

America's economy is sick. Labor market reality reflects it. It's not "rapidly mending." Over 23 million remain jobless. Trillions of dollar of tax cuts, banker bailouts, corporate subsidies, and other handouts did nothing to mend things.

Nor did QE ad infinitum. The most radical ever monetary/fiscal experiment failed.

In the first so-called presidential debate, neither candidate discussed "anything remotely representing a jobs program."

Obama and Romney don't care. They want more for bankers, war profiteers, and other corporate favorites. People needs don't matter. Bipartisanship reflects let-em-eat-cake indifference, government of, by, and for them alone, force-fed austerity, unfair "free" trade deals, permanent wars, and harsh crackdowns on non-believers.

Nothing ahead next year looks promising. Both parties are in lockstep. People needs aren't addressed. America's military alone actively recruits. Join the army. See the world. Lose a limb or two or three.

Lose your emotional stability and future prospects. Nothing abroad justifies fighting for. Nothing good domestically awaits returning vets. Hot wars target America's enemies. Financial ones affect ordinary people back home. Both have deadly consequences.

A new IMF report signaled trouble. "The recovery has suffered new setbacks, and uncertainty weighs on the outlook," it said. "Downside risks have increased and are considerable."

Worldwide growth will match 2009 recession levels. Global recession may follow. Out-of-control government debt is pandemic. Expect higher interest rates, lower profits, and weak financial markets.

US 2013 fiscal cliff austerity assures harder times ahead. Similar cuts across Europe smother the continent. Employment gains are fake, a mirage. Business and consumer confidence are "exceptionally" fragile. Market rallies are head-fake traps.

Dismal prospects loom. Companies cut staff in hard times. Expect them in 2013. Rasmus predicts nasty recession conditions. Past forecasts he made proved accurate. Stay tuned. He, Roberts, and others reporting accurately will update their outlooks ahead.

Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net.

His new book is titled "How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War"

http://www.claritypress.com/Lendman.html

Visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

http://www.progressiveradionetwork.com/the-progressive-news-hour
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


Local News

Stop Circus Animal Suffering – Protestors Urge Audiences to Shun the Wild Animal Circus S07 5:57PM

Nuclear Shudown News Aufust 2016 A30 3:46PM

WIKIpedia is not what we readers Thought nor is it even current about Pacifica or KPFK A24 3:10PM

"KPFK has a $500,000 deficit “ !! Can this be true? A19 6:10AM

Nuclear Shutdown News July 2016 A01 1:36PM

A 99-page report "Election fraud" from Election Justice USA A01 4:14AM

INDY's KPFK radio program being eliminated ? too ? J10 4:57PM

Bertolt Brecht Testifies Before the House Un-American Activities Committee (1947) 2 min J02 3:04PM

Pacifica-KPFK Archives, director resignation J18 4:50PM

SAVE KPFK & PACIFICA: VOTE IN THIS CRUCIAL ELECTION! J18 3:39PM

KPFK radio elections for LSB coming Quick ! J18 1:05PM

KPFK Local Station Board Elections In-Progress J13 11:31AM

Black Lives Matter Activist Jasmine Abdullah Sentenced Three Months in Jail on Attempted Lynching Charge J09 2:08AM

Why are the Park Rangers making it even more difficult for the homeless in Los Angeles? J04 3:11PM

Bernie Sanders in Lincoln Heights M23 8:23PM

Los Angeles Sit-In to Fight Voter Suppression M18 4:28AM

War Within California's 46th CD M13 11:42AM

NPR's David Greene & Alison Aubrey along with David Ludwig Shill For Factory Farm Eggs M13 7:55AM

2016 AT&T Shareholders engaged by Communications Workers of America D9 Activists M12 11:43PM

Communications Workers of America District 9 Action at AT&T Shareholders M12 9:38PM

Voter Registration at ELAC M10 3:31PM

LA Times Fails to Cover Protest Against Clinton M07 9:15PM

Violence Against Poor In Venice A29 12:59PM

California Safe Schools Honors 11 Year Old Daniel Randall A25 2:25PM

More Local News...

Other/Breaking News

Counterintelligence Operations Against A Target Are Global S24 8:15AM

Star Wars Battlefront Death Star DLC S23 3:18PM

Paraphysique de l'aplasie S23 2:37AM

The Shortwave Report 09/23/16 Listen Globally! S22 5:34PM

Philippines: The Punisher's dirty war on drugs S21 11:50PM

Final Shot Astuce Gem Tricks S21 3:58PM

How to get rid of fleas by Robert George Tronge S21 11:52AM

SB Game Hacker is ready to work S21 10:06AM

Joanna Lumley slams CITES’ rhino horn proposal S21 9:24AM

KPFK :must VOTE by 9/30 to local board. S21 9:02AM

NBA 2K17 Prelude Download Australia/New Zealand on PS4 and Xbox One S21 5:29AM

Power Elites: On the Great Illusion of Pluralist Liberalism S21 5:05AM

Chronicité intempestive S21 2:04AM

USA: Inhumane S20 5:49PM

Joanna Lumley slams CITES’ rhino horn proposal as ADI make a stand for the African elephan S20 5:22PM

Joanna Lumley slams CITES’ rhino horn proposal as ADI make a stand for the African elephan S20 5:20PM

Dorothy Willetts Designs a Chair for Event to Benefit Illumination Foundation S19 4:26PM

KPFK & Pacifica's Archives seem oddly silent about transitions. Any ? S19 1:09PM

Modern Strike Online Hack - Get Unlimited Gold S19 4:34AM

Growth Criticism and Reduced Working Hours S18 9:54AM

Algorithmes de l'isolement généralisé S18 12:24AM

Homo homini lupus S17 8:53PM

Fbi illegal methods and criminal agenda exposed S16 11:05PM

Prêt-à-porter-du prêt-à-penser S15 10:04PM

The Shortwave Report 09/16/16 Listen Globally! S15 5:22PM

Ricky Gervais urges public to support ADI bid to restrict hunting and save African lions S15 11:41AM

Mozambique President Meets IMF and World Bank As Debt and Corruption Concerns Loom S15 9:43AM

Vote Out NC Sen. Richard Burr Who Tried To Derail Critics Of CIA Torture S13 11:54AM

More Breaking News...
© 2000-2003 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy