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BLS Unleashes Whopping Revisions To 2014 Jobs Data, Now Reports 423K Job Gains In November

Tyler Durden's picture




 

As reported first thing this morning, in addition to the jobs and wages numbers, perhaps just as importantly, the BLS would revise its entire 2014 jobs data series, which it did today as it noted:

Establishment survey data have been revised as a result of the annual benchmarking process and the updating of seasonal adjustment factors. Also, household  survey data for January 2015 reflect updated population estimates. See the notes at the end ot this news release for more information about these changes.                                                             

It wasn't kidding: remember that January of 2014 jobs print of 144K which was supposedly "horrible" and was blamed entirely on the snow, and was in fact used by the Fed in its decision-making process. Well, guess what: it was BS, and - following the BLS's revisions - actually turned out to be a whopping 247K.

It gets better: remember that whopping 353K jobs number in November? Well, following the data revision, it was boosted by 20% to a whopping 423K - the second biggest monthly jobs increase in the 21st century!

Here are the details, courtesy of the BLS itself, explaining how it revised, estimated and otherwise massaged the data for the past year:

Effective with data for January 2015, updated population estimates have been used in the household survey. Population estimates for the household survey are developed by the U.S. Census Bureau. Each year, the Census Bureau updates the estimates to reflect new information and assumptions about the growth of the population since the previous decennial census. The change in population reflected in the new estimates results from adjustments for net international migration, updated vital statistics and other information, and some methodological changes in the estimation process.

In accordance with usual practice, BLS will not revise the official household survey estimates for December 2014 and earlier months. To show the impact of the population adjustments, however, differences in selected December 2014 labor force series based on the old and new population estimates are shown in table B.

The adjustments increased the estimated size of the civilian noninstitutional population in December by 528,000, the civilian labor force by 348,000, employment by 324,000, and unemployment by 24,000. The number of persons not in the labor force was increased by 179,000. The total unemployment rate, employment-population ratio, and labor force participation rate were unaffected.


And breaking it more fully down, what was supposed to be a total gain of 2,952K jobs in 2014 has now been revised to 3,197K.

As it turns out, and as had been expected, the BLS has decided to ignore all those reports of thousands workers laid off in the energy space and mask it all with seasonal adjustment.

And the best news of the day: that average weekly wage you thought you were collecting during all months of 2014? That too was just revised higher across the board.

 

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Fri, 02/06/2015 - 10:07 | 5751383 order66
order66's picture

"momentum"

Fri, 02/06/2015 - 10:08 | 5751390 TideFighter
TideFighter's picture

We are on our high horses.

Fri, 02/06/2015 - 10:12 | 5751415 NoDebt
NoDebt's picture

"And breaking it more fully down"

Could somebody this word order explain to me?

Fri, 02/06/2015 - 10:16 | 5751447 CunnyFunt
CunnyFunt's picture

Your article on Yellen and womens rights is brilliant.

Fri, 02/06/2015 - 10:28 | 5751511 Manthong
Manthong's picture

Way cool.. I got one of those great jobs and so did my kid..

Oh wait.. no we didn’t…..  WTF??

Fri, 02/06/2015 - 10:30 | 5751520 Occident Mortal
Occident Mortal's picture

Doesn't the US have accurate tax data on which to base the labour numbers?

 

What year is it oer there?

Fri, 02/06/2015 - 10:32 | 5751528 Big Brother
Big Brother's picture

Yes, but it gets "goal-seeked" before presented to the public.

and, 2015.

Fri, 02/06/2015 - 10:35 | 5751537 SMG
SMG's picture

I love the smell of made up propaganda in the morning!

Fri, 02/06/2015 - 10:41 | 5751576 Four chan
Four chan's picture

we'll count the 1% ers twice.

Fri, 02/06/2015 - 10:51 | 5751626 insanelysane
insanelysane's picture

They needed to make room for the 100k that IBM is shedding plus the oil patch plus Radio Shack plus Office Depot plus ...

Fri, 02/06/2015 - 11:37 | 5751861 El Vaquero
El Vaquero's picture

Can we just castrate some folks at the BLS?  Seriously...

Fri, 02/06/2015 - 16:09 | 5752889 Not Goldman Sachs
Not Goldman Sachs's picture

but don't forget about the new data miners at Twitter and Facebook.

Fri, 02/06/2015 - 10:52 | 5751633 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

I love the smell of made up propaganda in the morning!

Then you'll love the latest bit from the all-too-senior senator from Arizona:

McCain blames America for Ukraine's use of cluster bombs on residential areas.

http://sputniknews.com/politics/20150205/1017844947.html

Fri, 02/06/2015 - 13:58 | 5752400 Never One Roach
Never One Roach's picture

great article! Just last week I was just telling the guy at Radio Shack how robust the rekovery is ....

Fri, 02/06/2015 - 10:33 | 5751534 TruthInSunshine
TruthInSunshine's picture

Annualized rate of job growth is now a BLAZING 3,000,000 per year, a d many of these are high wage jobs, too!

Anyone who doubts that we're in an economic expansion of epic proportions is A DOOMER!

Get your resumes out there, demand raises/bigger bonuses, YOU ARE IN DEMAND AS AN EMPLOYEE!

Fri, 02/06/2015 - 10:38 | 5751564 Bay of Pigs
Bay of Pigs's picture

Friday Humor right Tyler?

Fri, 02/06/2015 - 13:40 | 5752326 Nick Jihad
Nick Jihad's picture

Sniff. MDB woulda dun it better.

Fri, 02/06/2015 - 10:36 | 5751555 JRobby
JRobby's picture

Shake Shack and Chipolte are expanding.................oh and not hiring anyone with McDonalds experience.

Fri, 02/06/2015 - 10:52 | 5751635 richiebaby
richiebaby's picture

No wonder I can't find a job, they've hired everybody!

Fri, 02/06/2015 - 10:18 | 5751462 Headbanger
Headbanger's picture

WOW!  You're an amazing fucking idiot!  Gold and silver are getting smashed to mess up Russia financially as a real war over Ukraine looks more real now.

You're what's insane!!  So it's time to pop open your head with something like a .45 that's roaring !

Fri, 02/06/2015 - 10:37 | 5751556 YouSerious
YouSerious's picture

What Aspergers Putin needs help?

Fri, 02/06/2015 - 10:22 | 5751484 PrayingMantis
PrayingMantis's picture

 

 

... BuLLShit ...

Fri, 02/06/2015 - 10:31 | 5751523 Bill of Rights
Bill of Rights's picture

Look over there son a fuck'en retard!

Fri, 02/06/2015 - 10:31 | 5751525 11b40
11b40's picture

So, that's where Trav777 went.

Fri, 02/06/2015 - 11:19 | 5751772 Usurious
Usurious's picture

 

 

trav7777.......I never met anybody who knew so much about synthetic debt.....

''Synthetic debt was far larger than housing and residential mortgages.  By any means necessary, they grew the credit base.  The housing price trend was merely a symptom of a deeper problem''.......trav7777

Fri, 02/06/2015 - 10:42 | 5751580 JRobby
JRobby's picture

accredited-times pretty much blows

Fri, 02/06/2015 - 10:16 | 5751445 NoVa
NoVa's picture

BLS wanted to release simple statement stating November jobs have been revised "DoublePlusGood".

 

I've been re-reading Orwell's 1984 so had to blurt out NewSpeak in my personal 2 minute Hate.

 

NoVa

Fri, 02/06/2015 - 10:17 | 5751455 saints51
saints51's picture

They are pricing in the mass layoff from Radio Shack that will occur very soon.

Fri, 02/06/2015 - 10:39 | 5751566 JRobby
JRobby's picture

How will we buy our resistors and capacitors now?

Fri, 02/06/2015 - 10:54 | 5751647 GeezerGeek
GeezerGeek's picture

Did Obama cause Radio Shack's demise because he thought RS was supporting resistors? Is 'resistors' the kinder and gentler way of saying 'terrorists'?

 

Fri, 02/06/2015 - 10:45 | 5751588 Manthong
Manthong's picture

Oh geez.. just wait until the BLS starts counting SS disablity recipients as jobs..

then we can be sure prosperity has returned.

Fri, 02/06/2015 - 13:44 | 5752341 Nick Jihad
Nick Jihad's picture

Don't give them ideas. In Illinois, the SEIU decided that everyone who gets a benefit for care of a disabled family member, is employed by the state, and thus owed dues to SEIU. The next logical step, is to regard recipients of SSI as being employed in the care of themselves.

Fri, 02/06/2015 - 10:29 | 5751513 LetThemEatRand
LetThemEatRand's picture

"'And breaking it more fully down'.  Could somebody this word order explain to me?"

Written by Yoda, it was.

Fri, 02/06/2015 - 10:53 | 5751636 BandGap
BandGap's picture

To quote a fellow worker yesterday - "that's a lot of complicated".

Fri, 02/06/2015 - 11:14 | 5751745 Bohm Squad
Bohm Squad's picture

Not Yoda...the sentence is correct.

Fri, 02/06/2015 - 13:47 | 5752357 Nick Jihad
Nick Jihad's picture

I have to agree - it's valid english, if not eloquent.

Fri, 02/06/2015 - 11:32 | 5751554 giovanni_f
giovanni_f's picture

What did they revise? The method to create desired numbers? Or did they make a mistake the first time they found out only after they waded through all the documents? I mean: Is there any number trustworthy from any government?

IF IT STINKS LIKE SHIT, IT PROBABLY IS SHIT.

Yoda: "Shit it is".

Fri, 02/06/2015 - 11:03 | 5751688 unrulian
unrulian's picture

simple, just say it in Yodas voice :

 

"And breaking it more fully down"

Could somebody this word order explain to me?

 

***edit...shit should have read down...Rand beat me to it.

Fri, 02/06/2015 - 10:13 | 5751419 MillionDollarBonus_
MillionDollarBonus_'s picture

WOW! This is a simply amazing figure! J Gold and silver are getting absolutely smashed right now, and equities are looking extremely strong. My portfolio is #winning today, my treasuries are up, my S&P 500 positions are up, and all of my short foreign currency positions are up. This is just insane!! It’s time to pop open some champagne because the recovery is officially roaring!

 

http://accredited-times.com/2015/02/05/consumers-create-jobs-not-busines...

Fri, 02/06/2015 - 10:14 | 5751430 jmcadg
jmcadg's picture

WOW! Sounds like your practice account is awesome. Go MDB.

Fri, 02/06/2015 - 10:17 | 5751453 NoVa
NoVa's picture

Your Treasuries are down Troll Bitch

 

 

Fri, 02/06/2015 - 10:57 | 5751671 GeezerGeek
GeezerGeek's picture

Are these upward revisions meant to provide cover for the Fed talking about raising rates again? Not that they wouldactually do that, of course...but talking has been very effective thus far.

Fri, 02/06/2015 - 10:21 | 5751476 TheFourthStooge-ing
TheFourthStooge-ing's picture

It just goes to show that the best results happen when you listen to accredited experts. They make the best decisions because that is their profession.

Fri, 02/06/2015 - 10:32 | 5751527 Bill of Rights
Bill of Rights's picture

Produce the proof

Fri, 02/06/2015 - 10:36 | 5751551 RaceToTheBottom
RaceToTheBottom's picture

It would be interesting to know, in the same graph, how many people are falling out of he coverage or at least the count for employment.

Maybe the best way to do that would be to superimpose the % of the country who are part of the workforce.

Fri, 02/06/2015 - 10:43 | 5751584 JRobby
JRobby's picture

accredited-times pretty much blows

Fri, 02/06/2015 - 11:33 | 5751842 safe as milk
safe as milk's picture

hey mdb, career question for you. do you work from home or do you have to commute to the office in langley every day?

Fri, 02/06/2015 - 12:30 | 5752060 quasimodo
quasimodo's picture

He commutes from home with his mum's sisters boyfriend who makes $7 large a month in the internetz selling widgets. He never knew how much money you could make selling widgets

 

Fri, 02/06/2015 - 10:15 | 5751438 Save_America1st
Save_America1st's picture

Sure gave the monkeys a great excuse for a timely paper PM's raid.  How convenient.

 

so I would like to thank the Evil Empire for a nice sale on phyzz today so that we can all BTFD!

 

Thanks, bitchez!

 

Fri, 02/06/2015 - 10:41 | 5751575 Balvan
Balvan's picture

Paper markets are the reason gold is so high, without speculation in paper contracts, gold price would be much lower, demand for physical is marginal compared to paper demand.

Most people who trade with gold, don't actually want or expect delivery of physical, they only want more $.

Also, I don't hear you guys complain when price is pumped up on that very same paper markets. When it goes down is manipulation, but when it goes up it's not? lol

Fri, 02/06/2015 - 10:47 | 5751591 Bay of Pigs
Bay of Pigs's picture

And who told you this nice lil fairy tale sonny?

Fri, 02/06/2015 - 10:12 | 5751392 GetZeeGold
GetZeeGold's picture

 

 

If you're gonna go.....GO BIG!

 

Of course, the larger a lie is, or grows, the more intricate it has to be, therefore more people will believe the larger lie, because they assume that no one would lie on that scale.

Fri, 02/06/2015 - 10:13 | 5751424 rccalhoun
rccalhoun's picture

$80/oil = 25,000 on Dow

why does this seem logical now?

Fri, 02/06/2015 - 10:21 | 5751478 unplugged
unplugged's picture

"When it gets REALLY REALLY serious, you have to lie HUGELY BIG"

J.C. Junker

Fri, 02/06/2015 - 10:25 | 5751498 Handful of Dust
Handful of Dust's picture

"If you want to keep your jobs bullshit, you can keep your jobs bullshit."

Fri, 02/06/2015 - 11:15 | 5751749 Caleb Abell
Caleb Abell's picture

"Of course, the larger a lie is, or grows, the more intricate it has to be, therefore more people will believe the larger lie, because they assume that no one would lie on that scale."

 

I take it from your comment that you actually listened to the entire state of the union speech.

Sat, 02/07/2015 - 08:10 | 5755218 GetZeeGold
GetZeeGold's picture

 

 

 

I dissected it.....there was nothing there.

Fri, 02/06/2015 - 10:12 | 5751410 Bossman1967
Bossman1967's picture

that is such bulllshit I have been actively looking for a job since October and there is nothing nothing nothing

Fri, 02/06/2015 - 10:14 | 5751433 rccalhoun
rccalhoun's picture

move to kalifornia

Fri, 02/06/2015 - 10:45 | 5751602 JRobby
JRobby's picture

So Cal? Well yes. If you are going to live on the street it is nice to be somewhere warm with a decent bus system to get around.

Fri, 02/06/2015 - 10:50 | 5751622 BandGap
BandGap's picture

Well, I have heard you can make $5219 a month working out of your basement in your spare time while suffering from alcohol dependency.

I sympathize, it took me 9 months to find a job after my last termination. Hang in there, it's a mental marathon more than anything else.

Fri, 02/06/2015 - 10:12 | 5751411 NOTW777
NOTW777's picture

so, this means they know whats coming and they have to "adjust" the previous false #s even higher so the decline doesnt look so bad

Fri, 02/06/2015 - 11:04 | 5751700 glenlloyd
glenlloyd's picture

Does the BLS really think that anyone out there will believe this shit?

Nobody believed the original numbers, why would anyone with an ounce of common sense believe this tripe?

Far from demonstrating that the BLS was wrong from the beginning it just shows that they're willing to say / print anything without a thought. If it was a business it would be laughed out of existence, but because it's a government agency this shit is tolerated and what they produce accepted.

Fri, 02/06/2015 - 10:09 | 5751393 madbraz
madbraz's picture

and at the end of the revision report, it read:

 

Sincerely,

Barrack Obama

Fri, 02/06/2015 - 10:09 | 5751394 TruthInSunshine
TruthInSunshine's picture

Why is Zero Hedge SOOOOO Doom & Gloom?

It's clear that the recovery is gaining steam.

Fri, 02/06/2015 - 10:11 | 5751408 madbraz
madbraz's picture

gaining steam and the sauna door is jammed.

Fri, 02/06/2015 - 12:56 | 5752168 unplugged
unplugged's picture

and you turn around and there's bathhouse barry with a sly smirk on his face and a boner in his right hand

Fri, 02/06/2015 - 10:14 | 5751437 K_BX
K_BX's picture

gaining steam since 2009.

Fri, 02/06/2015 - 10:26 | 5751501 GetZeeGold
GetZeeGold's picture

 

 

How many trillions ago was that?

Fri, 02/06/2015 - 10:17 | 5751450 LawsofPhysics
LawsofPhysics's picture

Yes, I am sure interest rates will start going up, any second now...

People clearly don't appreciate your sarcasm.

Fri, 02/06/2015 - 10:24 | 5751496 TheFourthStooge-ing
TheFourthStooge-ing's picture

Celebrate good times, come on!

Fri, 02/06/2015 - 12:34 | 5752080 TeamDepends
TeamDepends's picture

Hilarious. Perhaps that is what we should call Barry and his band of merry commies from now on- Kool And The Gang!

Fri, 02/06/2015 - 10:48 | 5751617 JRobby
JRobby's picture

It will need steam to navigate through all the bubbles and debt land mines that have not gone boom yet.

But it doesn't have anywhere near that kind of steam. Sorry.

Fri, 02/06/2015 - 11:00 | 5751681 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Yup... Cleveland "Steam".....

Fri, 02/06/2015 - 10:09 | 5751395 lester1
lester1's picture

Why again are rates at 0% ?

Fri, 02/06/2015 - 10:10 | 5751401 NoDebt
NoDebt's picture

It's complicated.

Fri, 02/06/2015 - 10:17 | 5751457 yogibear
yogibear's picture

Exactly. The Fed and government are talking out of both sides of their mouth.

Fri, 02/06/2015 - 10:27 | 5751505 Handful of Dust
Handful of Dust's picture

It's not every decade we see such a vibrant, continuous, robust Rekovery!

Fri, 02/06/2015 - 10:25 | 5751499 TheReplacement
TheReplacement's picture

Why?  Well.... SAY is that a nailgun?

Fri, 02/06/2015 - 10:09 | 5751397 NoDebt
NoDebt's picture

"You're going to believe we're in a recovery if we have to shove it down your fucking throat."

They just turned it up to 11.

Fri, 02/06/2015 - 10:10 | 5751398 hotrod
hotrod's picture

Every one in, the water is warm

Fri, 02/06/2015 - 10:12 | 5751399 CunnyFunt
CunnyFunt's picture

I'm pleased that we can rely on BLS to provide us with such credible figures. Gallup obviously doesn't know anything and should be investigated by the DOJ.

Fri, 02/06/2015 - 10:45 | 5751600 Quirkel
Quirkel's picture

They are preparing the billion dollar fine as we speak

Fri, 02/06/2015 - 10:10 | 5751400 mtndds
mtndds's picture

Transitory

Fri, 02/06/2015 - 10:14 | 5751413 hotrod
hotrod's picture

WE HAVE LIFT OFF and have DE COUPLED.

Fri, 02/06/2015 - 10:13 | 5751416 madbraz
madbraz's picture

does this mean the teleprompter guy will be on the tellie?  oh, please no

Fri, 02/06/2015 - 11:04 | 5751702 GeezerGeek
GeezerGeek's picture

At least the revisions came after the State of the Union address. Imaging the boasting if the revisions had come first.

Fri, 02/06/2015 - 10:13 | 5751417 buzzsaw99
buzzsaw99's picture

Bullish

Fri, 02/06/2015 - 11:08 | 5751722 Caleb Abell
Caleb Abell's picture

You forgot to type the lst 2 letters.

Fri, 02/06/2015 - 10:13 | 5751420 jmcadg
jmcadg's picture

American exceptualism

Fri, 02/06/2015 - 10:13 | 5751421 SMC
SMC's picture

Well, they did "legalize" domestic propaganda.

ROFL.  

Fri, 02/06/2015 - 10:13 | 5751422 hedgelessWhoresMan
hedgelessWhoresMan's picture

Doubling down on the BS.

Fri, 02/06/2015 - 10:13 | 5751425 q99x2
q99x2's picture

There are a lot of duplicate numbers in the statistic because of the Q99X2 taking a job last month.

Fri, 02/06/2015 - 10:14 | 5751427 Free Wary
Free Wary's picture

I'm so grateful they have revised these numbers in the past, maybe that means my friends who are long term unemployed will get paychecks since the BLS says they actually DID have jobs.

Fri, 02/06/2015 - 10:14 | 5751428 venturen
venturen's picture

Are these the same people that do the Global Warming...now called Climate Change numbers? 10 degrees here today

Fri, 02/06/2015 - 11:20 | 5751776 Bohm Squad
Bohm Squad's picture

meh...those will be revised upward next year.  Just wait...you'll remember how balmy it was then.

Fri, 02/06/2015 - 10:15 | 5751441 holdbuysell
holdbuysell's picture

Wow. All those jobs created in Jan 2014 when the vortex gained ramming speed.

And the economy still tanked by 4% in 1Q14.

I guess companies hired people 'just because'.

Something isn't lining up.

Fri, 02/06/2015 - 10:22 | 5751483 replaceme
replaceme's picture

No, you're looking at it all craw... The economy was down BECAUSE Of all the new workers - it's hard on the economy to support wages and insurance.  New workers are a net loss to the economy. 

As an aside, we have always been at war with Eurasia.

Fri, 02/06/2015 - 11:06 | 5751711 GeezerGeek
GeezerGeek's picture

Not to mention that people gainfully employed have less time to go shopping.

Fri, 02/06/2015 - 16:26 | 5752988 Not Goldman Sachs
Not Goldman Sachs's picture

that's why the stock price always goes up with layoffs

Fri, 02/06/2015 - 10:15 | 5751442 LawsofPhysics
LawsofPhysics's picture

Everything is awesome, everything is cool when you are part of the tribe!!!

Fri, 02/06/2015 - 10:16 | 5751444 maneco
maneco's picture

All this great economic data will give investors massive confidence in the health of the U.S. economy which will result in a massive misallocation of capital.

Fri, 02/06/2015 - 10:20 | 5751471 Redneck Hippy
Redneck Hippy's picture

BLS is hoping for a self-fulfilling prophecy.

Fri, 02/06/2015 - 10:17 | 5751448 hotrod
hotrod's picture

j

Fri, 02/06/2015 - 11:21 | 5751782 Bohm Squad
Bohm Squad's picture

k

Fri, 02/06/2015 - 10:16 | 5751449 hotrod
hotrod's picture

Raise the Rates,   They are behind the curve

Fri, 02/06/2015 - 10:17 | 5751454 Peter Pan
Peter Pan's picture

I am afraid we are approaching a time when there will be random, spontaneous events expressing the sheer and utter despair, anger and  frustration by the people.

People without being in a protest march will throw bricks into shop windows, public infrastructue will be greatly vandalized although they will be not too sure of the ongoing benegits.

 

 

Fri, 02/06/2015 - 14:18 | 5752445 22winmag
22winmag's picture

It's called lying with statistics.

Fri, 02/06/2015 - 10:17 | 5751456 lordbyroniv
lordbyroniv's picture

Record Harvest, Comrade !!!!!!!!!!!!!!!!!!!

Fri, 02/06/2015 - 10:17 | 5751460 Chuck Knoblauch
Chuck Knoblauch's picture

What's a seasonal adjustment?

Fri, 02/06/2015 - 11:01 | 5751546 resaci
resaci's picture

 

"What's a seasonal adjustment?"


That's when you decide to eat the bad bacon, and for the next day and a half your skid marks turn into burnouts!

http://youtu.be/l9CKLQPFQ_g

 

Fri, 02/06/2015 - 10:59 | 5751678 Caleb Abell
Caleb Abell's picture

Seasonal adjustments are what the BLS does to economic data to make what was previously honest and accurate data even more perfectly honest and accurate.

 

For your future reference, on page 326 of the BLS Latin/English cross reference dictionary (2nd ed.), the term "seasonal adjustment" derives from the Latin phrase "fabricatus poopus del toro."

 

Fri, 02/06/2015 - 10:18 | 5751461 Puncher75
Puncher75's picture

I guess we can expect that massive rate hike any day now.  Waiting.......

Fri, 02/06/2015 - 10:29 | 5751516 yogibear
yogibear's picture

Rate hike "Waiting......."

You'll have to wait until hell freezes over.

Fri, 02/06/2015 - 10:46 | 5751605 Puncher75
Puncher75's picture

Oh, I know ;-)

Fri, 02/06/2015 - 10:18 | 5751464 unplugged
unplugged's picture

As the END draws ever-nearer, the LIES keep getting bigger and bigger.   This is the best indicator that the END is very close.

Fri, 02/06/2015 - 10:57 | 5751670 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

This racecar is running DEEP in the red.... she's gonna blow!!!

Fri, 02/06/2015 - 10:20 | 5751470 BeerMe
BeerMe's picture

Being on welfare now equals having a job?

Fri, 02/06/2015 - 10:21 | 5751472 gmak
gmak's picture

I think the market is having a rut-roh moment.  Nice pop on wages. Now jobs revisions are making ms market think "Yellen might be gellin for a rate increase" and it looks like it is trying to tip toe back down to earlier levels without anyone noticing.

You just can't make this stuff up. Oh.  Wait.

Fri, 02/06/2015 - 10:21 | 5751475 vyeung
vyeung's picture

bullshitting anyway, might as well go full retard!

Fri, 02/06/2015 - 10:24 | 5751477 wrs1
wrs1's picture

Gold to zero but it's great for oil.  Hope no one here was long gold and short oil, LOL!  I can see all those gas guzzlers burning up those surplus inventories lickety split as all these newly employed people rush out to buy trucks from GM that get 14mpg so they can be the king of the road.

Fri, 02/06/2015 - 10:22 | 5751480 ratpack1968
ratpack1968's picture

What a sham.  The official numbers are mumbo jumbo and utterly meaningless. The only thing that differentiates this "recovery" from the Great Depression is that soup lines have been replaced by EBT cards.  The scam will continue a lot longer than we think possible, but people in the know understand that this will not end well and are preparing accordingly.

Fri, 02/06/2015 - 10:31 | 5751481 hotrod
hotrod's picture

Who's YO Daddy, world?   USA USA USA

Fri, 02/06/2015 - 10:23 | 5751487 Goldbugger
Goldbugger's picture

Yet 46 Million people on Food Stamps and the number keeps going up.

 

http://www.usdebtclock.org/

Fri, 02/06/2015 - 10:23 | 5751488 wmbz
wmbz's picture

Fun with numbers, it's just like magic. Slight of hand smoke and mirrors. Matters not what the truth may be as long as you believe what the magician is doing.

At this rate unemplyoment should be around 4% by years end.  Reality does not figure into the gubmints figures, just believe what you are told.

Fri, 02/06/2015 - 10:24 | 5751494 Quinvarius
Quinvarius's picture

It has become a national security priority not to admit our economy is doing worse than Russia's.  If anything, the BLS is sending a message that they know their data is clownshoes by reporting such nonsense.

Fri, 02/06/2015 - 10:24 | 5751495 monopoly
monopoly's picture

I am so glad everything is solved. Nirvana. We finally arrived. Interesting day ahead. 

Fri, 02/06/2015 - 10:25 | 5751497 papaswamp
papaswamp's picture

Theres that inflation...lets see if rates will rise.

Fri, 02/06/2015 - 10:25 | 5751500 Counterpunch
Counterpunch's picture
  • Almost time for another Apple bashing piece, even though anyone tech unsavvy enough to listen to ZH on Apple LOST MONEY.

 

XxoO

 

 

Fri, 02/06/2015 - 10:27 | 5751504 hotrod
hotrod's picture

Open the borders, Open the borders

Fri, 02/06/2015 - 10:27 | 5751506 Tsar Pointless
Tsar Pointless's picture

So should we really care about reading any economic release, or considering the impact it will have on *markets*?

No. That's my answer. Yours?

Fri, 02/06/2015 - 10:58 | 5751661 silverer
silverer's picture

It would appear that if the market results do not fit the narrative, they create a different one by changing the mask.  Nothing in the US Constitution says they can't do that.  And if it did, they obviously stopped paying attention to the Constitution anyway.  You get better information watching the Baltic Dry Index and talking to people in the construction industry.  Also, watch Caterpillar stock performance.  That to me points the direction of the world economy better than these fudged government numbers.  As far as the US, watch the people on handouts.  Food stamp usage drop yet?  Nope.  Car sales take off yet (with solid loans)? Nope.  Most college grads finding jobs that pay over $100K? Nope.  I like to go to the inflation calculator com site.  Using the government's own under-reported inflation rates, I punch in my Dad's earnings in 1963.  He never went to college.  Right into the work force, worked for a newspaper.  He earned $15,000 a year.  On his pay, we paid off our mortgage in eight years.  My Mom stayed home, she didn't have to work. His 2014 equivalent pay is $116,047.06.  Know anyone out of high school in the last couple of years getting this pay?  Try it:  http://www.bls.gov/data/inflation_calculator.htm

Fri, 02/06/2015 - 10:27 | 5751507 monopoly
monopoly's picture

This all looks so easy. Sell my gold, by stocks and live happily ever after. I think not.

Fri, 02/06/2015 - 10:28 | 5751512 Kina
Kina's picture

Of course all meaningless crap....there is no truth coming out of MSM or government mouths...just lie upon lie.

 

All a game for some other reason...they want the USD higher? Must want to smash US exports some more.

Fri, 02/06/2015 - 10:29 | 5751518 BullyBearish
BullyBearish's picture

Ahhhhhh...the smell of desperation in the morning...smells like, VICTORY

Fri, 02/06/2015 - 10:30 | 5751519 joak
joak's picture

I don't know anything about their methodology, but what do they know more in Jan 2015 about the jobs created in, let's say, jan 2014, compared to June or September 2014 ? Should I expect the figures to be revised once again in a year, or a decade ?

Fri, 02/06/2015 - 10:32 | 5751529 Everybodys All ...
Everybodys All American's picture

The Obama clown show continues full speed ahead.

Fri, 02/06/2015 - 10:32 | 5751530 hotrod
hotrod's picture

How were Christmas Retail sales?

Fri, 02/06/2015 - 11:46 | 5751896 Caleb Abell
Caleb Abell's picture

They must have been wonderful since I haven't seen anything about them in the media.

Fri, 02/06/2015 - 10:33 | 5751531 SirBarksAlot
SirBarksAlot's picture

They're now counting the people on the corner with the signs that say "Will work for food."

It just hasn't been formally announced.  Kind of like not announcing the bank employees who will steal and lie for bonuses.  You understand.

Fri, 02/06/2015 - 10:33 | 5751533 henry chucho
henry chucho's picture

If these numbers were real.oil would be trading at $150 a barril,not $50 a barril..

Fri, 02/06/2015 - 10:34 | 5751536 dynamictrader
dynamictrader's picture

fku, winners are winning, losers are complaining, when you were in your twenties, how many forty yr olds were bitching, come on guys, the old trades aint working, time to wake up and think anew, maybe suck up to those winning, so whats the trade?

Fri, 02/06/2015 - 10:35 | 5751538 Chuck Knoblauch
Chuck Knoblauch's picture

What is a seasonal adjustment?

Fri, 02/06/2015 - 10:56 | 5751658 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

I think it's when you take a pinch of this and a dash of that and... voila!! 

Fri, 02/06/2015 - 10:35 | 5751541 F em all but 6
F em all but 6's picture

FROM SHADOW STATS:       January 9th, 2015

• Revisions to Unemployment Seasonal-Adjustments Demonstrated Concurrent-Seasonal-Factor Reporting Issues • Payroll and Unemployment Data Both Heavily Skewed by Unstable and Inconsistent Seasonal Adjustments • December Unemployment Rates: 5.6% (U.3), 11.2% (U.6), 23.0% (ShadowStats) • Annual Money Supply M3 Growth Jumped to 5.2% in December, Highest Since July 2009 
Fri, 02/06/2015 - 10:35 | 5751543 ajkreider
ajkreider's picture

Right. They faked the data. Three months AFTER the election.

Fri, 02/06/2015 - 10:39 | 5751565 Puncher75
Puncher75's picture

Call me crazy, I don't believe it.  I'm buying PMs on sale.  Wackey I am

Fri, 02/06/2015 - 10:39 | 5751567 northern vigor
northern vigor's picture

That's strange...why did John Clifton, CEO of Gallup go on CNBC and say the job numbers were all lies?

Clifton said he worried for his life saying it, and questioned whether he would even get home safe after going on CNBC.

I didn't see it, but imagine Liesman stare could have killed.

Fri, 02/06/2015 - 10:43 | 5751583 hotrod
hotrod's picture

Did Clifton say?   He was worried for his life and worried about getting home.

Had no idea.

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