Obama: Jobs Destroyer
Phantom numbers substitute for real ones.
by Stephen Lendman
Phantom numbers conceal dire conditions. Reports are manipulated to distort reality. Last year's data overstated about half a million jobs.
Seasonal adjustments turn reality on its head. So does the so-called "birth-death model." It estimates net non-reported jobs from new businesses minus losses from others no longer operating.
During current economic hard times, it magically creates nonexistent jobs. Even the Bureau of Labor Statistics (BLS) admits misreporting, saying:
"The confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs."
Mark Twain's maxim about lies, damn lies and statistics perhaps applies mostly to government managed news misinformation. What matters most is concealed.
Claiming economic conditions are sound when real unemployment is 23% is one of the worst damn lies. Bipartisan complicity to destroy America's social contract when it's most needed shows total disregard for vital needs.