Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics

[marmar]

Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics. Labor Department Nails It
by Wolf Richter • Jul 2, 2020 •

Labor Department today: People on state & federal unemployment insurance jumped to 31.5 million, worst ever.
Bureau of Labor Statistics today: 4.8 million jobs created, unemployment dropped by 3.2 million.
BLS under-reported unemployment by 13.7 million, based on data from the Labor Department. What’s happening is infuriating. Read and cringe.
By Wolf Richter for WOLF STREET.


Normally, the jobs report by the Bureau of Labor Statistics is released on the first Friday of the month. And the unemployment claims report is released Thursday every week. But this month, the monthly jobs report was also released today because of the 4th of July weekend. And now we have this delicious situation of both reports on the same day, with the Labor Department’s unemployment insurance data – people who are actually receiving unemployment benefits under state and federal programs – calling the Bureau of Labor Statistics’ survey-based report a liar. And we’ll go through them.

What the Labor Department reported today:

The total number of people who continued to receive unemployment compensation in the week ended June 27 under all state and federal unemployment insurance programs, including gig workers, surged by 937,810 people in the week, to 31.49 million (not seasonally adjusted), the highest and worst and most gut-wrenching ever:



The number of people receiving state unemployment insurance (blue columns in the chart above) has essentially been flat for three weeks (it ticked up this week), as many people got their jobs back while many other people were newly laid off. But the number of people on federal unemployment programs, including gig workers (red columns), has been soaring.

What the Bureau of Labor Statistics reported today:

Incredibly, given the record number of unemployment insurance recipients, the Bureau of Labor Statistics dared to claim that the number of unemployed fell by 3.2 million in June, to 17.8 million, after having already, incredibly, fallen by 2.1 million in May, making it a 5.3 million decline over two months. The BLS claims to have obtained these numbers through its surveys of households. ..............(more)

https://wolfstreet.com/2020/07/02/never-before-have-i-seen-so-much-fake-unemployment-jobs-data-by-the-bureau-of-labor-statistics-while-labor-department-nails-it/

[SoonerPride]

1. Thank you for this.

Clearly the “great job report” was a lie.

[Wounded Bear]

2. BLS used to be pretty reliable. Have they also been "Trumped"?

Difficult to believe anything these days.

[Igel]

4. That's the goal.

Remember the book Nothing Is True and Everything Is Possible: The Surreal Heart of the New Russia?

If you make it so nothing's believed, it's easy to manipulate and control. If nothing is true, then anything can be true so all that is needed is for a person with authority to say something and be believed--then a lot of people just fall into line. (And "authority" is defined by the ability actually get people to follow, none of this fake authority by position where nobody gives a damn what you say. Many groups that have real power today still insist stridently that they are powerless--so the struggle must continue! The same struggle to finally wrest power from those who *really* had it was ongoing by Stalin in Stalin's Russia. On paper, at least. Again, if nothing's true then everything is possible--people believed Stalin that he was struggling against mighty foes inside Russia, and he had power because people believed his lies.)

Even in 2017 the intelligence report said Russia's goal #3 was to get Trump elected. #2 was to make sure HRC wasn't elected.

Goal #1 was to sow confusion and division. Trump helps that. He's far, far from alone. When you hear "I am right, I demand power and reject compromise" just remember that those words bring a smile to Putin's little dreary face. Either it will sow division--a win for Putin; or it weakens democracy and furthers supremacy by some group or party, which is another way of saying authoritarianism ... another win for Putin. So much winning.

[panader0]

3. Trump had his speech written already.

[KPN]

5. So is this guy credible?