by Jim Quinn
I used to take the monthly bullshit pumped out by the BLS and line by line destroy their narrative. But, I got bored and no one cared. Nothing has changed. Today the BLS reported “better than expected” employment numbers according to the MSM talking heads. They said the economy added 1.8 million jobs in July and the unemployment rate fell to 10.2%. Yippee!!!!
As usual, when you actually go their site and look at the reported data, you realize this is a farce. Here’s a link to the data:
www.bls.gov/news.release/empsit.a.htm
The smell test is comparing July 2020 with July 2019. According to the BLS, 4.6 million working age Americans voluntarily left the workforce in the last year. That’s funny because it had been going down until March 2020. These people are in the labor force, but can’t find a job. That makes the 10.2% go up to 12.8%.
Another truth bomb is that 45% of working age Americans are not working. That number was 40% a year ago. We now have 143 million (24 million part-time & 9 million self employed) working Americans supporting 117 million non-working adults. Government workers account for 21 million of the 143 million, meaning 98 million full-time private industry workers are supporting the 117 million non-workers and 21 million government drones.
And now for the real head scratcher. According to the BLS, there are 16.3 million unemployed Americans. If this is true, how could the Department of Labor report yesterday show 32.1 million Americans claiming unemployment benefits in July? How can both of these reports be correct?
If 32.1 million Americans are out of work, then the real unemployment rate is 19.6%.
Do you think the unemployment rate in this country is closer to 20% or 10%? Do you believe their narrative?