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Tag(s): Economy-Economics- US; Job Unemployment; Statistics
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October 8, 2007 at 08:00:09

Can We Trust The New Jobs Report That Has Led to Rosy Forecasts?

by Danny Schecter Page 3 of 3 page(s)

www.opednews.com

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“Suppression of wage increases has been the centerpiece of monetary and government policy to manage inflation in the Production/Consumption Economy since 1980. Given the difficulty in acquiring legitimate measures of actual inflation rates in the US economy, there is no way of telling whether these wage increases translate into increased purchasing power. Given the rise of oil and other commodity prices, it seems doubtful. In fact, it looks like the UBRA is going full-bore banana republic, including wage and price inflation to maintain employment going into an election year.”

So there you have it: politically influenced numbers, another reason not to trust the mainstream media and search out more thoughtful analysis elsewhere.

As the old saying holds, “Figures lie and liars figure.”

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http://www.Mediachannel.Org

New Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm. Comments to dissector@mediachannel.org

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3 comments

Former Lawyer, current Business Consultant,history buff, Christian, father of 2 sons and a supporter of democratic government.
ArchieFormer Lawyer, current Business Consultant,history buff, Christian, father of 2 sons and a supporter of democratic government.

Trust?

Faux "News" has already proven itself time and time again to be totally untrustworthy in providing the truth so why would anyone watch a new channel business or otherwise? I wouldn't watch anything they put out if you paid me!

by Archie (0 articles, 0 quicklinks, 0 diaries, 1283 comments) on Monday, October 8, 2007 at 12:11:39 PM

Ed Encho is a free lance writer, activist and consultant who resides in West Central Florida and author of the upcoming "A Monolithic and Ruthless Conspiracy".
Ed EnchoEd Encho is a free lance writer, activist and consultant who resides in West Central Florida and author of the upcoming "A Monolithic and Ruthless Conspiracy".

The Wall Street Big Con Goes On

I put as much creedence in the jobs report as I do the bogus unemployment figures or inflation (which leaves out food and energy) numbers. Nothing is as it seems with these people who are only looking to keep the grand casino of Wall Street and the Ponzi scheme of the Fed going for long enough to dump the coming economic meltdown directly into the laps of the clueless, feckless Democats.

And the dummies who are hurt the worst will buy it hook, line and sinker.

by Ed Encho (8 articles, 18 quicklinks, 56 diaries, 394 comments) on Tuesday, October 9, 2007 at 4:57:37 AM

Sandy Sand began her writing career while raising three children and doing public relations work for Women's American ORT (Organization for Rehabilitation through Training). That led to a job as a reporter for the San Fernando Valley Chronicle, a weekly publication in Canoga Park, California. In conjunction with the Chronicle, she broadcast a tri-weekly, 10-minute newscast for KGOE AM. Following the closure of the Chronicle, Sand became the editor of the Tolucan Times and Canyon Crier newspapers...

to see more of bio, click on member name
Sandy SandSandy Sand began her writing career while raising three children and doing public relations work for Women's American ORT (Organization for Rehabilitation through Training). That led to a job as a reporter for the San Fernando Valley Chronicle, a weekly publication in Canoga Park, California. In conjunction with the Chronicle, she broadcast a tri-weekly, 10-minute newscast for KGOE AM. Following the closure of the Chronicle, Sand became the editor of the Tolucan Times and Canyon Crier newspapers...

to see more of bio, click on member name

What's to trust?

Government reports have always fallen under the category of "creative writing."

They say the jobs outlook is rosey. For whom? As I sit here waiting for my daughter to get laid off from her mortgage company job with no hope of finding another one in an industry she's worked ten years to get experience and expertise.

They never say what those jobs are, where they are, what the pay scales are, nor in unemployment figures do they ever account for the unemployed who haven't found new jobs, but no longer collect unemployment insurance.

It boils down to who are we going to believe? Them or our own lying eyes?

by Sandy Sand (172 articles, 0 quicklinks, 222 diaries, 1497 comments) on Tuesday, October 9, 2007 at 6:57:19 AM