Friday, April 2, 2010

Cooking the Jobs Report

If ever there was evidence that government agencies are sensitive to political pressure (no!), todays jobs number is it.

After hiring 1.25M workers for the census (a waste of $22/hour on a political battle unrelated to the original purpose of the census), will the BLS use this opportunity to bury millions of lost jobs that they've been saving up? I wonder....

Any useful job-counting method would show +1.25M this cycle, at least as a starting point. Let's see how reliable and accurate the BLS really numbers really are. The implication of a number that isn't reasonably close to +1.25M is twofold:
1) It shows the true state of the economy, X - 1.25M = R (where X is the BLS' "saved-up" number and R is reality)

2) It will reveal with certainty that our unemployment stats are cooked
Of the two, #2 is the bigger problem.

The USA's political-economc system is best described as:

On Nov 2, 2010, I plan to vote (FOR or AGAINST) my incumbent congressman

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