Thursday, September 17, 2009

Labor Department Lies About Job Losses

Yeah, if you DON'T KNOW just MAKE IT UP!!!

"A Labor Department analyst said that the jobless figures for seven states, including California and Virginia, were estimated because state governments were unable to provide data"

That's why I take what the paper and government say with a grain of salt.

"Trade data show recession fading; Figures suggest job market mired" by Christopher S. Rugaber, Associated Press | September 11, 2009

WASHINGTON - On the jobs front, the Labor Department said initial claims for unemployment insurance fell to a seasonally adjusted 550,000 from an upwardly revised 576,000 in the previous week. The number of people continuing to receive benefits fell by 159,000 to nearly 6.1 million, the lowest level since early April.

Related:

"In fact, the main reason the unemployment rate declined last month was because hundreds of thousands of people, some discouraged by their failed job searches, left the labor force"

That's why the rate is dropping, not because there are jobs.

Still, unemployment claims remain significantly above levels associated with a healthy economy and indicate jobs remain scarce.... “The labor market’s healing process is agonizingly slow,’’ Joshua Shapiro, chief economist at MFR Inc., wrote to clients.

A Labor Department analyst said that the jobless figures for seven states, including California and Virginia, were estimated because state governments were unable to provide data due to the short holiday week.

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