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Did The BLS Again Forget To Count The Tens Of Thousands Of Energy Job Losses?
A month ago we asked if the "BLS Forget To Count Thousands Of Energy Job Losses" when as we showed, the BLS reported that only 1,900 jobs were lost in the entire oil and gas extraction space, which was a vast underestimation of what is taking place in reality, when compared to not only corporate layoff announcements, but what Challenger had reported was going on in the shale patch, when it calculated that some 21,300 jobs were lost in January in just the energy sector.
Today we ask again: did the BLS once more forget to add the now tens of thousands of jobs lost in the US energy sector? We ask because the divergence is getting, frankly, ridiculous.
In the February NFP report, the establishment survey reported that just 1.1K jobs were lost in the "Oil and Gas Extraction" industry: this is lower than the downward revised number of 1.8K in January, and adds up to only 2900 jobs lost in 2015.
As a reminder, this is what Challenger said just yesterday:
Once again, the energy sector saw the heaviest job cutting in February, with these firms announcing 16,339 job cuts, due primarily to oil prices.
Falling oil prices have been responsible for 39,621 job cuts, to date. That represents 38 percent of all recorded workforce reductions announced in the first two months of 2015. In February, 36 percent of all job cuts (18,299) were blamed on oil prices.
“Oil exploration and extraction companies, as well as the companies that supply them, are definitely feeling the impact of the lowest oil prices since 2009. These companies, while reluctant to completely shutter operations, are being forced to trim payrolls to contain costs,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.
It even provided a handy chart to understand which is the weakest sector in the US economy right now, which as we said yesterday, "is the one chart that the BLS, if it ignored everything else, should look at."
It didn't.
As a result, this is what the job losses in the energy sector look like based on the calculation of the BLS and of Challenger, which actively counts the layoffs, and has no White House-driven agenda to paint a rosier than reality picture.
One wonders: just what is the BLS waiting for to finally admit the real picture in the energy sector (and frankly, just what is the methodology used by the BLS to calculate "jobs" if it is failing so miserably to account for what is clearly happening) and will it serve the steaming surprise pile just after the Fed decides to hike rates some time in the coming months?
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LYING GUMMAMINT FUCKS!!!!!!!!!!!!!!!!!
Seriously Who in the right mind believes these fake numbers ????????
CNBC
But you said "right mind"...
The tens of thousands recently layed off from oil, HP, IBM, etc. apparently all instantly got new jobs...
I know I've said it many times before, so I apologize for sounding like a broken record, but these data are being shaped around a policy of strengthening the dollar in order to ensure preservation of reserve currency status.
I'm never willinig to assume I understand motivations but there sure have been a lot of mind boggling events and choices that point to a strong dollar. Oil, Ukraine, ISIS, Fed and BLS lies being among them.
Oil companies / industry has been cutting jobs by the thousands the last few months. Will the trend continue
Layoff List: http://www.dailyjobcuts.com
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http://www.bizjournals.com/houston/print-edition/2015/03/06/after-the-fa...
Exactly right.Full economic warfare.
Which is why the Fedres will raise rates , to try to kill the RoW econmically, hoping the US is
the only country left standing.
This is about FedRes survival.No reserve currency status, no Fed..
"Exactly right. Full economic warfare."
And in other news, gold just took a $20 swan dive.
Me thinks you're quite right.
WC, may I point out that the British Pound once enjoyed the great advantage of being the global reserve currency and that the Bank of England is still there?
actually, even the Central Bank of Zimbabwe is still there. I presume you mean "No reserve currency status, no exorbitant FED power"
Same thing for a psychopath.
There is a key difference between the transition between the British Pound to the USD as a reserve currency and today. The us, over the past 40 or 50 years has made oil imports an integral part of its economy. Suburban sprawl, imports from China and other countries and modern agriculture all depend on this. The US has set itself up for a nasty collapse precisely because it has not allowed much in the way of alternatives to its current way of life.
The collapse was also shrouded by wartime rationing in the UK.
Some items were still rationed until 1950.
Nobody truly remembered what pre rationing days were like.
Ater 2 ounces of margarine per month, anything feels good.
When the time comes in the US, I expect that rationing will feel good compared to what the control freaks in charge will try to do. The UK was lucky in that it had its offspring to hand the torch to, and had it gotten really bad, I'm sure we would have shipped food and goods over there. We have no such backstop.
"You didn't grow that, it's ours."
The institution may be there, but remember that it went through a couple of incarnations during and after the pound's reserve status. The bank was privately owned from 1694 until 1946 when it was nationalized, leaving the sole ownership of the money printed in the people's hands. On paper it still is a national bank, but somehow owned by the Treasury Solicitor's dept which is a corporation sole. Add the mystery of a wholly owned subsidiary tacked onto the BOE in 1977 called the Bank of England Nominees Ltd which is protected by the Official Secrets Act and your guess is as good as mine about just who the hell owns and controls the BOE. My guess is that it is back in private hands outside government control, just like the Federal Reserve.
In conclusion, the name may stay the same, but the actors involved and more importantly the ownership of the nation's currency is the most pertinent factor when we are referring to central banks. There is a world of difference between a national bank and a private central bank - the former is in theory answerable to the people of the nation, the latter is not. The former does not charge interest for the privilege of printing the nation's own money, the latter lends it to the people at interest like leeches for literally doing nothing but sitting around with their fingers pressed on the print button.
I beg to differ. imho, it's highly visible that whenever the Chancellor tells the BoE to jump, the only question he gets from Threadneedle Street is "How high?"
meaning that the Bank of England is a national bank. the key question, dear YHC-FTSE, in all things British, is the amount of oversight that Westminster has (or takes itself to have) on HM's ministers
That depends on which Public school you went to Ghordo.
Hey mate. :) You won't get any arguments from me, after all it was a guess based on obscure evidence on Tsol and BOEN Ltd. I thought the same as you while Mervyn King was the governor and I am hoping you're right, while at the same time dubious about it since Mark Carney, a Goldman Sach alumni was appointed to the post.
Considering we have a Goldman Sachs man in control with a Chancellor who is a cokehead being advised on economics by crackheads (Douglas McWilliams - You just can't make this up!), I have a feeling the BOE is usurped.
... the Bank of England is still there...
The Bank of England is still there. However, the British Empire is most definitely not.
The British Empire in large part just changed home address.
Doubtful. The new "owners" seem much more inept than the Brits ever managed to be...
"I know I've said it many times before, so I apologize for sounding like a broken record, but these data are being shaped around a policy of strengthening the dollar in order to ensure preservation of reserve currency status.
I don't believe for one minute they care about the USD, especially when the administration told Kyle Bass that they were going to kill the dollar if they had to.
Why now would they change their minds and start to care? They've never cared before, Bernanke treated the dollar like toilet paper.
Why, for one second, do you think that the Obama administration understands the consequences of its actions?
Don't apologise. While I've been an occasional visitor to ZH before, I've only recently put it on my daily flight plan. And that's an interesting idea. It does make a lot of sense; the banksters will stop at nothing to keep their fake wealth for free creation engine going.
Yes, big government progressive criminal (Corzine anyone?) types would lie to keep the totally illegal strip mining theft of middle class paychecks going.
One thing for sure, the BLS, Treasury, Federal Reserve, Congress and Obama regime are NOT full of constitutional conservatives. Progressives OWN this crime.
It takes big government progressives to murder and steal. It is what they do. Progressive=Criminal. MOAR GOVERNMENT--FORWARD! Obamatron assclown drones keep voting them in but should not complain when the stupid, it burns.
Grimaldus
Don't apologize. While I've been an occasional ZH visitor for years, I've only recently put it on my daily flight plan. So I've never heard you say that, and in makes sense. The banksters will stop at nothing to keep their fake wealth for free scam going.
The energy workers who were fired got new jobs - pounding sand.
As United Steelworkers union members finish their fifth week of strikes in Houston, a march has been scheduled March 6 in front of the headquarters of Shell Oil Co., Motiva Enterprises and LyondellBasell Industries (NYSE: LYB).
http://www.bizjournals.com/houston/morning_call/2015/03/steelworkers-to-...
Yup slinging coffee or burgers or stocking shirts at the sprawl mart store
Alcohol is a potent energy source.
Bartenders and waiters are key participants in the delivery of this important fuel.
Hiring of bartenders and waiters is at an all-time high.
Therefore, Energy industry hiring is UP!
Q.E.D.
And interestingly enough the manufacturing of alcohol, a natural product my microbe friends happily do for just a carbohydrate source, is regulated and taxed by the government. Just a coincidence I guess.
Miffed
You know why you aren't allowed to distill your own spirits in your back yard? Taxes. Not because you might make a still that will blow up your neighbor, but taxes. Look up the licensing requirements for distilling, and it becomes clear that what you have to do is necessary for them to tax the production of alcohol.
Yep, same goes for Marijuana.
They want it legal for Rx, but not as a regular plant. Denver pays taxes on its dispensaries, but there is alot that goes untaxed from homegrowers.
Hemp could bring US agriculture jobs back-textiles all kinds of uses. The South wanted to be an agrarian society, North wanted industrial society in the civil war. They just say it was about slavery to make ppl feel better. Now we are all slaves to taxation-even the "liberated" women. You're free to pay taxes ladies!
Marijuana prohibition is a make-work program. Some sniveling bureaucrat and his cronies were going to lose their jobs at the end of prohibition, so they demonized it and convinced congress through emotional arguments that it should be banned, and over the next few decades, the laws became more draconian. Look up Harry J. Anslinger.
It's still a make-work program today!
Damn right. Hemp is 20 times more strong than cotton. Can be used for biodiesel, food, livestock, paper, even fucking diapers. We have great soil for it. Or lets just rely on Saudi oil and plastic for another 50 years.
This is what always happens when things go sideways. The calculations always have conditions as to why the values are accurate.
This does nothing for tail events like oil dropping 50% or the FED goosing the money supply.
Basically, these numbers are worthless in times of great flux.
Like most government statistics, they are best used by government to pat government on the back for doing a swell job of being government.
If a meteor hit the USA tomorrow and killed everyone, the economy would still create jobs next month.
pods
hammer this bitch, bitchez, ha...
The meteor would have to hit one small spot. It is unlikely that there is an alternative production facility.
U.S. Bureau of Labor Statistics | Postal Square Building, 2 Massachusetts Avenue, NE Washington, DC 20212-0001
New Game - you add nothing to the conversation - find another blog.
The very definitions they use for their statistics are often complete BS in all but the best of times. If they're manipulating those, you know things are really fucking bad. U3 = (Labor Force - Employed)/ Labor Force. See how many ways you can change those numbers to get that to drop, then ask yourself why they would need to manipulate that in the first place.
Ppl leave unemployment to become underemplyed. You can work 8 hours a week and are considered employed by stats. It is the same yes or no check mark for a 40 hour work week. A win in Washington's book.
If a meteor hit the USA tomorrow and killed everyone, the economy would still create jobs next month.
Shhhhhh! Don't give Krugman any ideas. (You know damn well that joker at least lurks here.) Do you know how many windows a metor like that would break? We're talking CENTURIES of Keynesian ecstacy, brutha man.
No one is in his right mind.
Anyone who believes ANYTHING the gubmnt says or does is a brainstem. It is a malignant aggressive cancerous melanoma insinuating itself in all citizens & sucking their life juices dry.
"I forgot..." Steve Martin - Multiple ancient Saturday Night Live TV shows.
And the federal gubmint, multiple times daily.
Global economy contracting across the board... I don't know if this was predicted by the global warming model, or expected as part of the ongoing recovery... I get confused by all of the information available sometimes....
get it through your minds--our govt is desperate-economy is falling apart and they cannot say that
https://www.youtube.com/watch?v=FFrag8ll85w
Must......Pump.....Stawks....
I live in Texas. I have many friends in the oil and gas industry. Speaking last night to one of them, he said in an office of over 85 people in normal times, currently he and one other person remain in their office. Everyone else has been laid off. He said he went to a convention in late January in Houston where 300 oil and gas companies had booked space last year, 22 companies actually made the convention - He said it was a friggin ghost town.
The government, the Fed will NEVER come clean on these data releases. The whole nation could be eating catfood and living by candlelight - And they would still be stuffing big economic improvements down our throats. DIE!
100 percent of close relatives(I KNOW) laid off, fucking 100 percent-1/1! fucken - eh, wtf is this world gonna do? no energy for future generation. 100 percent decline coming, go fill up NOW!
ps, sarc off/on, he found a water drilling job already, ha, so there you all fucking manipulators, haha didn't work...
It's only announcing layoffs in real time that's an issue for the goverment. They will include these layoffs in a year or so when nobody pays attention. People are focusing on 10-20,000 differences in monthly numbers as they are announced, but revisions of hundreds of thousands are common around turning points and nobody really cares when they come out in a year.
It is a matter of National Security. Everything is. America doing great World. Keep using those dollars.
That 'it's a matter of national security' claim drives me crazy. It's like a fat lady people are hiding behind, dragged out when necessary to prevent direct assault, come on folks, it's another big fat excuse.
Not in the oil patch but word is big layoffs by the end of the month, a manager(not mine but in a related group) says that my group is safe for this round as we have four open positions that will not be filled. Still those are four high paying jobs(Firmware Engineers) that will not be added to the work force any time soon. I'm taking it all with a grain of salt as if you can believe the manager. It's not like he is going to give you a heads up if you are being laid off next week.
Yep. Result of the recent acquisition which already had the first round of a RIF.
Oh, they'll "come clean," 3 months later when they publish "corrected" numbers, which are still bullshit because the definitions that they're using are bullshit to begin with.
They are waiting for oil to recover...then they won't have to report them...This number is so full of crap it stinks
When oil recovers, they will be reporting 100s of 1000s of jobs "created" in the energy sector. Pretty soon there will be more people with jobs, than there are people!
The lie has just to be big enough and repeated often to become "reality". Well, sort of ...
If somebody loses their job in the energy sector and nobody counts it, does it make a sound?
Only the sound of the padlock clicking shut when the house of the person that lost the job is foreclosed on.
It makes a sound all right-- every time Obama opens his pie hole.
just a splash in the water.
The corrupt incompetent divisive arrogant narcissistic illegal indonesian kenyan alien muslim pathological liar in chief fudgepacker done do lub itsef sum azz burgers.
This adjustment wouldn't actually make much difference to the big picture. The real BS is in the methodology and I suspect the seasonal adjustments?
I think the perception of real or fake would make a big difference to the big picture.
Of course, but it goes to the underlying data aggregation and calculation credibility of the BLS
Yes, absolutely, which is the point I was trying to make. This makes no sense except perhaps as a tool for giving The Fed the avbility to raise rates by a grand total of 0.25% to demonstrate that they were "Ahead of the curve"...
...which, at this point, is totally nill.
"credibility of the BLS"
Credibility of the BLS...AHAHAHAHAHAHAHA!
There are lies, damned lies, then there is the Bureau of Labor Statistics.
Isn't using "credibility" and "BLS" in the same sentence an oxymoron?
BLS..one letter too many..
If been thinking that for a while now...
"We seasonally adjusted some folks."
Hahahaha ^^ LOL
could simply be time delay between counting people who are working today, but have been told they wont be working in May, BLS says they are employed.
also seasonality? since the energy area has been adding for a few years, the average is up and up....so a new negative number comes in and barely impacts the average seasonality.
bls, gdp etc....all quite stale data. there is info out there readily availabe for subscription that tracks in real time tax receipts, cars shipped to dealers, real time weekly unemployment insurance claims....this one month or more delay is anachronistic.
the more real number is the "revised" numbers. These fake reports are just to manipulate the market and to explain the manipulations. The real picture will come next report on the revised column.
Don't we all learn how they play the game now ?
It is probably some form of 'New Math' taught in Institutions of Higher Learning by Liberal Professors.
Since October 2014 how many jobs has the USA created?
legal or illegal?
The way 10's have moved over the last few days the BLS is raising rates for the Fed. it will be interesting to see if the equity markets start correcting, and bond yields continue to rise.
Of course they didn't count them. It's all made up bullshit to begin with.
Gents, you forget: it's adjusted numbers!
25 is actually 3.
See, I can also "adjust" numbers.
Ah, another report from Bullshit, Lies and Statistics. Awesome.
Clearly we don't understand their superior thinking and calculations.
Stop asking questions.
It's great, don't you see?
Look over there, it's a dog with a puffy tail!
When the CCCP failed .... Socialists around the world .... and especially at home .... went full court press .... to muck up Capitalism .... they gave up trying to compete .... search and destroy !
Does anybody else think that the Fed and BLS are in a negative feedback loop?
They will add them in a couple of years!
You always know a bogus BLS report is due when you see silver and gold bushwhacked at 4 AM on a Friday.
'V' is for intraday recoVery.
Take the "L" out of the BLS. Something to do with trains full of oil derailing?
The cleanup will create moar jobs.
See how easy it is to think like a Keynesian?
So...all of those snow shoveling, snow plowing , snow removal from roof jobs are sustainable? Better hope for more winter weather amerika.
Clearly this shows the BLS uses some form of weighted average of past data and extrapolates those numbers forward. This proves how old their data is in concocting what is the actual current trend. Expect downward revisions at year end.
Clearly this U.S. Government should be disbanded/dismantled. We are paying hundreds of billions of dollars a year to liars, con-artists, degenerates, propagandists, and social destroyers. To continue this is the true definition of insanity.
Until we come to understand that the U.S. Government, as presently constituted, is at war with the American People, we are in danger of annihilation as a free people. The die has been cast by the political and judicial oligarchs, the fascist social engineers, and the insatiable international impresarios controlling the moneypower.
There are simply too many parasitical imbeciles allowed into the voting booths to turn the nation from the wicked incremental, generational, devolution we are experiencing.
We are undergoing the end of the geatest hope that mankind has ever had on this earth. I am 75 years old and am burdened with the physical decline ultimately suffered by all flesh. It is a tragedy to know my grandchildren and great grandchildren, will never know the freedoms I once knew.
We stand idly by and do nothing while powerful demons run amok. We deserve the tyranny that is looming before us, but our grandchildren and great-grandchildren do not. Shame on us!
the highest amount of parasitical imbeciles, as you call them.. are the rentier class.. wall st, banksters, 1% of the 1% ers man
blaming this on the black down the street.. is EXACTLY what faux preeches every sunday ( well.. m-sat too )
It is NOT the votes of the .1% or even the 1% that determine the elections of the destroyers.
I understand that their money can buy elections, but it is the imbeciles who cast the votes.....Black, yellow, red, or purple imbeciles with yellow polka-dots....ignorant, uninformed deceived/dupes/"disadvantaged", illegal aliens, cartoon characters, potheads, or druggies,etc., destroyers of our nation nevertheless.
The results have been and are continuing to be the same for the past several decades since the Liberal/progressive/fascists/communists rose to power and undermined in a few decades a system that had been improving the lot of the mass of humanity for centuries. The rapidity of the decline is now obvious to anybody who hasn't become a part of the problem and given themselves over to the promulgation of the social, moral, and economic degeneration.
Yet when a politician who your average black would NOT vote for gets into office, they talk a different game, then do much the same as the politicians who blacks did vote for. There are only a few exceptions to this. The 0.01% don't buy elections, they buy the politicians themselves. There is no need to rig the elections because the candidates are rigged. Race relations sure do keep people divided though.
The political parties are a great danger to America. They sift through potential candidates to determine whom they can trust to continue their reign of terror before the voting public gets any chance to have a say in the matter.
Both parties are under the control of the same people.....the international moneypower.....the faux-Hebrews/Babylonian/Khazarian/Liberal/Progressive/Joos ( Actually those who call themselves Joos, but are not Joos).
They have been successfully working their plan for the destruction of what used to be called "Christendom" for centuries. The last bastion of Christendom standing in the way of their plan for world domination was the USA. The USA has nearly been destroyed. China has been designated as the temporary cesspool into which the wealth and power of the USA will be drained away. The PBOC is the poison pill the moneypower implanted into China with which they can quickly destroy the wealth and unity of the Chinese as soon as the USA disintegrates.
The world dictator is soon to be emplaced. Probably from the tribe of DAN.
Is there any nation that the oligarchs and their political minions (aka US Government) are not at war with or allegedly spying on and blackmailing their "leaders"?
There is no domestic threat so “Just Us” has to create the illusion of one. So, as the nation accelerates its slide down the crapper; domestic “sewing, literacy, library, community, oath keepers, tea party, etc...” groups should be alert for US Gov agent provocateurs spouting violence and hate while “having a friend” loaded with money, arms, and medical supplies that he or she can get “if the group promises to do something...”.
hootowl,,, you might deserve it, but I sure as hell don't.
I have no shame either, there are plenty to blame and their names & actions are all over it.
As for doing nothing, there are many in the oil industry for example that have done everything they could to keep there job. But the job was economically ripped from them, no matter what industry your in.
The whole point of the New World Order, (NWO) & the World Trade Organization (WTO) "Tne new normal" or whatever you want to call it... is to drive every reasonable standard, lower.
I'll guarantee you, under this regime, this day, ANYONE can get a job, as long as they agree to work for less, even if that means voluteering for nothing...yes work for nothing, that is where this leadership is determined to plow, as deep as possible, to the lowest standards & wages. This is not about healthy competition, this is about intentional destruction.
As far as grandchildren go, if YOU don't leave them everything you got (and teach them how to use it), they will be in the ditch, if they aren't already.
wwxx
WWXX: Let me preface this memo by stating I am in accord with almost everything you say. I am assigning "shame" to a generation of Americans, not to every specific individual. I know there are millions of us who have spent our adult lives struggling against this planned destruction of our country. But we have been overwhelmed by the international moneypower that has so diligently sought the weakening and destruction of America.
You didn't state whether you are an American....or not. I will assume you are for the sake of this brief memo.
You seem to deny any responsibility for the American condition, although you seem to be a part of this generation that has wrought this decline. This common generational denial is a manifestation of the moral and social apathy that has afflicted us over the past several decades. We refuse to ascribe any responsibility for the degraded condition of our government and our fellows to ourselves.
By privately, personally, fuming and raging against the lawless, moral, darkening of our society but not summoning the courage and energy to pro-actively protest and ACT against the demoniacal disintegration imposed by the evil ones, has wrought the near-final destruction of lawful civility that we are experiencing today.
When multiplied millions of times throughout the population we find ourselves living in a time of ubiquitous societal atrophy; .....an involutional amoral vortex drawing us down into chaos and dissolution.
Who is to blame?....Us!....Even those of us who have railed against the overwhelming tide of destruction inflicted upon us, because we have failed to stem this looming horror!
Thanks hootowl for being of accord with some of what I'm saying, and I could say I have the same accord for some of what your saying. I'm an American by birth, with many generations of Americans before me. Registered voter since 1980. I'm intentionally unemployed since 2008. Cleared out the bank account too, around 2008. Just to be clear, my opinion leans a little Christian, but I'm not religious, I'm about truth.
I'm not here to argue over the little things, but the important things, I don't mind making my opinion known. That is what I respect about Zero Hedge, they get important news documented & published quickly. Their (ZH) news/documents are made known, publicly, as a testimony to this generation's courage, in the face of destruction. It isn't my problem if main stream media presents an skewed version of the story, nor is it ZH's fault. In previous generations, important information was always delayed, often unreported, sensationalized, and otherwise distorted, ...as it is this day, in what we now call main stream media. So what can I say???? How in heck is the public/grandchildren to make a reasonable decision/vote based on what currently headlines in MSM? I'm sure you have noticed hootowl, ZH is not main stream. Even the posters here at ZH typically scoff & roll at 'gubermint numbers'.
But to take the blame for what others have done, is not my style. To imagine I haven't voted,~~~ well I tried that, till it has become quite obvious, that the elections are rigged. I'm pissed off about that, and not just a little bit. Have I circulated the petition & turned them in full of good signatures, I've done that. Have I written the U.S. President & the U.S. Attorney General, or the U.S. Senator, I've done that too. Have I persued the decisions of various courts, yep. Have I worked with local, state, & federal officials in a few things...sure did. Have I contempt for them all?...Just about. But I wouldn't call it apathetic, nor denial, I call it straight out contempt. There is a important difference.
It might be like walking into a sure enough Casino for a night of gambling. And if I gamble, make a sound bet and lose, that is part of the game, but when the game is rigged, and I gambled and lost, then I claim contempt for the Casino & the rigging of it. My contempt isn't because I gambled and lost, it is because the game was rigged and unfair. So I learn and quickly remove myself from said casino, because I had to learn the hard way that the whole thing is rigged, no matter how many complimentaries are given away. I thereby defy that establishment by removing what they want most, my willing, somewhat blinded participation. To remain in the immoral vortex of that rigged casino is a shame only to myself. I think of it like this: if you're supporting them, then your with them.
Oh well everyone, every generation has a learning curve. And I learned mine the hard way, as many others have learned...yeah billions even harder lessons than mine, even unto starvation & death. I certainly wouldn't think of those billions as apathetic, nor to blame when it has been revealed who these fake leaders are, and what they stand for and have done. ZH reveals important news accounts, about the nonsense that abounds daily.
So one day, soon perhaps, there will be a sure enough leader, that I can agree with nearly 75% or better, of the time...and he or she will need their guillotine sharpened, which just happens to be something only the blameless will be commanded to do.
wwxx
As the rule of law breaks down, .gov lies are a useful method for extending the fairytale for maximum extrative purposes.
Lying is one thing,,, Believing obvious lies is quite another.
Be nice if ZH could print some of John Williams Shadow stats. Maybe they could work something out with John.... Ba a nice alternative.
John Williams is a decent fellow. The issue with him is that he has tarnished a lot of sound work with his prognostications of hyperinlfation - not once, but a few times since 2010 or therebouts. Not saying he won't be proven correct at some point in the future, but when one starts attaching actual dates/time frames and they don't pan out, well...
The jobs data yesterday sucked. Of course it was going to be the exact opposite. I even posted that.
Figures often beguile me, particularly when I have the arranging of them myself; in which case the remark attributed to Disraeli would often apply with justice and force: "There are three kinds of lies: lies, damned lies and statistics."
- Mark Twain's Own Autobiography: The Chapters from the North American Review
While we make light of the BLS (fabrications), have we paused for a moment to come to grips with what this means? It means we have an Illigitimate Government. Has anyone thought that over, or are the (coming) ramifications simply too overwhelming to contemplate, so we blow off a little steam with cynicism? This is the fall of a nation - our nation.
Very interesting. I just clicked on MSNBC.
MSNBC is breaking down the jobs number BY RACE.
Africans and Latinos gained the MOST JOBS. They call them DISADVANTAGED WORKERS.
And yet the Feds include Latinos as WHITE for crime reporting purposes. To mask the humungous overrepresentation of blacks in the violent crime category.
Yes, our government is fullofshit. Fit the numbers to meet the goal.
The BLS knows how to count? I always thought they used "new Math". LOL
You can't fool money for very long.
But you can fool fiat currency for 44 years.
There can't be anything easier than determining the number of people employed. The government collects withholding taxes on almost everyone. If they can get this wrong (and there's no question that they do because of the constant train of revisions) then none of their numbers are worth considering.
http://www.ssa.gov/OACT/ProgData/taxquery.html
Hm the grocery check out boys in my town look very large and manly.
They also smell like oil.
Here in the Bakken.........if you have 25,000 workers working 70 to 80 hours a week last year but the same workers only working 40 hours a week this year...did the unemployment rate go up , down or stay the same ???
...and how about the 99mil who would like to work?
"The CIS report states that 1.8 million work permits were given to aliens with ... Meanwhile there are 99 million Americans out of the work force."
Why let facts get in the way of the meme that "all is well and under control" in Emperor Goebbels socialist utopia? "You gonna believe us or your lying eyes?"
www.traderzoo.mobi
This is pretty lazy journalism. You need to really understand how the numbers are compiled before you try and criticize them. It's even more laughable because there is so much more low hanging fruit to pick thru/on...
I hate to spoil the party but announced layoffs and job cuts in Jan and Feb don't equal ACTUAL layoffs and job cuts. Many of these guys are on contracts and until those contracts are up they will continue to get paid and be officially employed. Sixty and ninety day notice periods are common in the industry. For more senior workers thay could string out to 180 days. One year contracts are also not uncommon.
Unless the firm goes bust these contracts will be paid and these workers considered employees and employed for the purposes of the survey.
These announced job cuts will take the entire year to show up in the data as workers contracts expire.
Actaully this is not how it works at all. Two close friends of mine in the rig business off Corpus Texas were let go and it was immediately depsite their contracts. With oil at this price, it is worth more left in the ground, below the ocean, or floating in an unloaded tanker in a bay for 6 months than it is worth at the pump.
If they were let go immediately and not paid what they were contractually owed then they should be suing.
Also, not all workers have long notice periods, you friends might be 2 of the low number reported.
My real point however, was that there is a method to the madness. And in this case the reporter is comparing apples to oranges. The details of how the data is collected really do matter. If you don't understand that you miss the value of the data, but more importantly what it can't/doesn't tell you.
Don't get me wrong - I believe many numbers are massaged and worked out in revisions. In fact these numbers may be massaged. Regardless, that is beside the fact that the author of this post made a stupid comparison and then drew an ignorant conclusion from it.
All I know is that the Washington comPost readers are rejoicing at the jobs numbers and the price of gold falling, giving all praise and glory to Barack Obama. Thank goodness for useful idiots!
http://www.washingtonpost.com/blogs/wonkblog/wp/2015/03/06/u-s-economy-added-295000-jobs-in-february/
Of course if you can win a war (economic or otherwise) by lying about your numbers - do it!
Funny how accountants are now on the front battle lines
As noted on this site and many others, of the last 48 economic reports, 40 them have been misses yet we are to believe the smartest and most successful people in America ignored all this data and flat revenues and hired at the quickest pace in years? RIGHT.
You've just pointed out something really cool. So I make the note here: Attention! Want a high paying job where you can make lots of mistakes and be innacurate in your reports and still not get fired? Send your application to: ----
As Nielsen, Challenger and other surveyors have pointed out, people actually losing high paying jobs is much higher than indicateded by the BLS's fabricated numbers. In fact the CEO of Nielsen went so far as to say the unemployment numbers are a "lie". They have been a lie for many years. Not counting people whose unemployment benefits have run out and not counting the millions that have given up because there are no jobs is ridiculous. Why is fiscal policy based on numbers that are blatent fabrications? The economy is clearly not improving. There are so many red flags out there, like huge drops in PMI, layoffs, rising SNAP enrollments, etc., but they are all ignored.
Think they can stretch this out until Hillary gets elected? Afterwards, she can blame it on Bush. After all, he was always in "cahoots" with the oil companies. It wasn't Barry's fault. None of it. Just turn on the TV, they'll explain it all to you.
Maybe a lot of 1099 contractors? I've had a dozen jobs in IT over the last ten years and half the time I don't show up as employed or unemployed or discouraged, I'm invisible to the BLS even though I have to file crap with them too.
To be fair, I don't know how they come even as close as they do. Well, maybe they don't come all that close to reality after all. Even then - in IT, project estimates of plus or minus 30% are considered excellent. And lying is not unknown.
Government statistics shouldn't even be mentioned, they are just propaganda. Like GDP has been negative since 2008 for the most part, but shows postive consistently due to inflation understatement (among other issues).
Yes the energy sector is taking a hit but these shale oil jobs, in particular, were a new phenomenon unlike where the REAL HIT to the job market where the dwindling "Majority" had their real economic future. A simple few examples:
American tech employees forced to train H-1B replacements
California imports foreign guest workers to process unemployment claims
A U.S. visa allows people to come to the country for high-tech jobs. Feb. 24, 2015 News10/KXTV
http://washtech.org/news/industry/display.php?ID_Content=5363
Another tech-worker, Diane Drozdowski, was forced out of her job at American Express in Phoenix, AZ. After her manager used "bully tactics and psychological warfare" to try to get her to quit, resulting in a mental breakdown, she was replaced by two Indian workers based in India. American Express flew these Indian workers to Phoenix and forced her to train them, upon threat of losing her severance pay.
It matters what the meaning of "forget" is. aka the Dirty Bill defence.
Once any scheme starts to breakdown, the ponzi master will have exhausted all means to save himself. It is at that point all truth goes out the window.
Fund manager Dave Kranzler's take:
"Non-Farm Payroll Headlines Are A Complete Fraud"
http://thenewsdoctors.com/?p=293237