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Nonetheless, he said "we can make this better." Indeed so, but "we" don't because resources are diverted elsewhere, not where they're most needed, and that pattern will continue unchanged.
On July 8, the Labor Department reported 18,000 new jobs created. Its Household Survey showed 445,000 lost. In fact, the dismal job picture is exacerbated by monthly BLS reports saying:
"The confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs."
Emphasize more "minus" than "plus" during hard times.
By reengineering employment data accurately based on how calculated in the 1980s, economist John Williams reported 22.7% unemployed, not the fictitious 9.2%, showing a very sick economy.
The only sensible comments from a Wall Street Journal editorial headlined, "The Jobs Double-Dip" were that:
-- most "Americans believe the economy is still in recession"
-- millions of lost jobs since 2008 haven't been regained; and
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