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Dickensian!

5:05 pm in Uncategorized by Daveparts

Dickensian

Dickensian

Dickensian!
By David Glenn Cox

Somewhere between the lies and the rage lives sanity. It lives oppressed and abused in a land which has quite literally, lost its soul. It lives in a cold dingy room; it lives on hope and food stamps. It lives on memories of the past which grow smaller in the rear view mirror as time whizzes by.

Without any further introduction, the November Bureau of labor Statistics jobs report filled with wishful fantasies resplendent with excuses, a turd polished to a fine, high gloss luster. From the commissioner’s statement;

“Nonfarm payroll employment increased by 146,000 in November,
and the unemployment rate edged down to 7.7 percent. In 2012,
job gains have averaged 151,000 per month, essentially the same
as in 2011. In November, employment rose in retail trade,
professional and business services, and health care.

Before providing the details of this month’s data, I would
like to comment on the impact of Hurricane Sandy on our November
estimates. On October 29, the storm made landfall on the
Northeast coast, causing severe damage in some states.
Nevertheless, response rates in the affected states were within
normal ranges in November. Our analysis leads us to conclude
that Hurricane Sandy did not substantively impact the national
employment and unemployment estimates for November. We will
release the November regional and state estimates on December
21st.

For weather conditions to reduce the estimate of payroll
employment, employees have to be off work for an entire pay
period and not be paid for the time missed. In our household
survey, persons with a job who miss work for weather-related
events are counted as employed whether or not they are paid for
the time off.”

Wonderful, the largest utility in New Jersey estimates damages of over 300 million dollars calling it, the largest power outage in the state’s history. The Bureau of Labor Statistics crosses its fingers declaring that storm related unemployment doesn’t count. They will of course, count all of the workers hired to repair this damage as proof positive that our economic recovery polices are working.

Civilian non institutional population – up by 191,000 new workers
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Surrealistic Pillows

11:41 am in Uncategorized by Daveparts

By David Glenn Cox

A crude roadside 'jobs' sign

Good news? Image: Doug Geisler / Flickr

Oh, heavens be praised! It’s a miracle right out of scripture! The gods of political rhetoric and book keeping have favored us to look upon its countenance. I’ve been reading the Bureau of Labor Statistics monthly jobs report, every month, for over two and a half years and I’ve never seen anything even remotely similar to this one.

From the BLS –

The unemployment rate declined by 0.3 percentage point to 7.8 percent in September. For the first 8 months of the year, the rate held within a narrow range of 8.1 and 8.3 percent. The number of unemployed persons, at 12.1 million, decreased by
456,000 in September.

Why that’s the most amazing thing since, well… ever! Just five weeks before a Presidential election, the economy suddenly takes off like a Shelby Cobra, as the number of unemployed drops by almost a half a million workers in just 30 days! No telling how many jobs were created to make the unemployment rate drop 0.3 percent, it must have been in the hundreds of thousands of new jobs!

From the BLS:

The unemployment rate decreased to 7.8 percent in September, and total nonfarm payroll employment rose by 114,000, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care and in transportation and warehousing but changed little in most other major industries.

114,000??? But, but, but, the economic created 206,000 new jobs last month, at least, according to the revisions made in last months figures. It can only be explained as the hand of the deity, as the number employed miraculously explodes.

Number employed in July – 142,220,000
Number employed in August – 142,101,000
Number employed in Sept. – 142,974,000

Number unemployed in July – 12,794,000
Number unemployed in August – 12,544,000
Number unemployed in Sept. – 12,088,000

It must be the wondrous action of the deity, like that loaves and fishes thing, all over again. How else could 114,000 new jobs account for 456,000 less unemployed? Obama has employed the multitude, with his basket filled with a few new jobs and fishes.

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