The Labor department 'art' in determining a jobless rate is so tattered and revisions so common all credibility has been lost.
Less than 50% of the workforce has a full time job. Counting part-time workers you still only get to 62.3% and suddenly a 3-tick drop in one month in the jobs rate!
The real jobless rate is stubbornly closer to 12% when adding back workers leaving the workforce due to lack of jobs.
The current jobs report shows a meager 114,000 jobs created less than half what's needed just to break even. Taken alone the jobless rate would have risen back to 8.2%.
Hilda is serving horse-shit in a seven-layer salad folks. And Obama is lurking in the alley snickering. So where does Hilda get the ingredients to brew her tale of magic jobs recovery?
Solis appeared on CNBC this morning anticipating the expected push-back from this crazy report. She contended 90,000 private sector jobs were found suddenly. And an alleged 600,000 part-time jobs were part of a massive three-month 'revision' piled on the mess. Worse, Solis characterized as private sector jobs a 91,000 increase in government jobs. The numbers are such a jumble that even the left-leaning media hobbits at CNBC can't even figure them out.
CNBC told Solis the investor audience doesn't buy the numbers. Solis retorts 'You know, I'm insulted when I hear that because we have a very professional, civil service organization...it's really ludicrous to hear that kind of statement...'
What's that smell that smells? The pungent odor of corruption and snarkingly obvious timing to get a critical number no one buys 31 days out? Maybe...
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