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The unemployment rate drops to 8.2% for one simple reason: the government lies


Truth vs. Propaganda. The media is trumpeting another fall in unemployment today as the number of jobs created was only 60% of the expected 203,000. If the expectations had been met, unemployment should have stayed level at 8.3%. The propaganda media ignores this reality and glorifies this as good news since unemployment fell to 8.2%. Really? Removing people from the workforce denominator to adjust the numerator to a lower number will actually be believed by educated Americans? The answer is yes: if it worked in the past, it will continue to work in the future.

An analysis from Zerohedge.computs this into perspective:

March NFP [non-farm payroll] big miss at just 120K. Unemployment rate declines from 8.3% to 8.2%. Futures slide, for at least a few minutes before the NEW QE TM rumor starts spreading. The household survey actually posted a decline in March from 142,065 to 142,034. And as always, as we predicted when Goldman hiked its NFP forecast yesterday from 175K to 200K saying "if Goldman's recent predictive track record is any indication, tomorrow's NFP will be a disaster", Goldie once again skewers everyone. Finally, Joe LaVorgna's +250,000 forecast was just 100% off... as usual.

But this is only part of the story. The government has "seasonally adjusted" the jobs report due to winter. The bombshell is about to hit:

Yet things finally change in April, when seasonal adjustments hardly have an impact on the NSA number, and then in May things get from bad to worse, when the Seasonal Adjustment will for the first time every year, subtract 670,100jobs from the NSA number. Appropriately enough, this will come just before the June FOMC meeting. Finally, should the NFP number be a major beat, it merely makes US-based QE that much more unlikely until and unless we get a major disappointment in payrolls.

At this rate, our unemployment rate will be zero if there second Obama administration: the workforce will be zero. But if you have trouble comprehending what the administration is doing to solve our economic crisis, just listen to Joe:

David DeGerolamo

 

US Adds 120,000 Jobs; Unemployment Falls to 8.2%

U.S. payrolls rose far less than expected in March, keeping the door open for further monetary policy support from the Federal Reserve, even as the unemployment rate fell to a three-year low of 8.2 percent.

Employers added 120,000 jobs last month, the Labor Department said on Friday, the smallest increase since October.

Economists polled by Reuters had expected nonfarm employment to increase 203,000 and the unemployment rate to hold at 8.3 percent.

The weak employment growth last month likely reflected the fading boost from unseasonably warm winter weather. The payrolls count for January and February was revised to show just 4,000 more jobs created than previously reported.

The drop in the unemployment rate, to the lowest level since January 2009, reflected a drop in the labor force. The separate household survey, from which the jobless rate is derieved also showed a drop in employment.

The weak employment gains could hurt President Barack Obama's chances for re-election in November. The unemployment rate has fallen from 9.1 percent in August.

The painfully slow recovery in the labor market is a concern for Fed Chairman Ben Bernanke, who is keeping open the option of further monetary policy support for the economy if the unemploymnt rate remains stubbornly high.

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Comment by Jeff B. Willis on April 9, 2012 at 2:02pm

The economy produced only 120,000 jobs and somehow that translated to a .1% drop? They are only including filings over the past four weeks. How manipulative can you get? It's time to have the real numbers. Media loses more credibilty with each passing day. They should be drawing the differentiation. Instead, they are protecting Barack Obama! If the real rates were being posted by the Labor Department, he would be cleaning out his desk!

Comment by Pat Chadwell on April 7, 2012 at 1:45pm

Both JFK and Robert were taken out because they were going to investigate  the Feds and they will not stand up to a look see at what they are doing along with Obama working with them to control the USA like all commie countrys are...

Comment by David Gary Lakatos on April 6, 2012 at 11:06pm

What get's me is how can people believe anything that come's out of our Goverment mouth anymore.I don't trust anything these politician say.That's why this corrupt Goverment has to go.

Comment by Ronald Sorrells on April 6, 2012 at 2:55pm

SLO JOE IS THE VILLAGE DUNCE !

 

Ron

Comment by David DeGerolamo on April 6, 2012 at 2:43pm

Here is a more reliable site for statistics:

http://www.shadowstats.com/

Comment by Guy Blanchard on April 6, 2012 at 1:48pm

obama and reid and pelosi will say the unemployment rate is under 6% come the election.Transparency right?

Comment by Jeff B. Willis on April 6, 2012 at 1:15pm

If we counted all people, other than those who filed for benefits over the past four weeks, we would be looking at a much higher number. How high? No way to really telling! Gallup used a 9.8% number last month. That's too low in  my estimation. There are so many people who have stopped looking for jobs. The economy is producing the same number of jobs that it produced in 1983. The population has obviously grown since '83. It would be nice if the government would attempt to provide a better benchmark than what they are giving. But, if they did, Barack Obama would be clearning out his office in anticipation of termination.

Comment by Pat Chadwell on April 6, 2012 at 12:38pm

Fellow Patriots

This is a video of what has happened to the UK by their liberal immigration and the proliferation of Muslims and their quest for sharia law and domination.Obama just slipped HR1338 thru one of his midnight sessions allowing 20 million dollars to bring "refugees" from Gaza meaning Hamas/Hezbollah here to the US and giving them housing,money,jobs,and whatever they need because they are "victims"of a warzone.Basically in a nutshell hes importing terrorists at tax payers expense.

http://www.youtube.com/watch?feature=player_embedded&v=0hKEd6rzbeg

Comment by David DeGerolamo on April 6, 2012 at 12:07pm

@fortunateson

I deleted your second video link and replaced it with the actual video. You can copy the embed code from YouTube and paste it in the comment to show the video.

Comment by David DeGerolamo on April 6, 2012 at 12:05pm

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