No New Jobs In August, You Should Be Scared!

Well the August 2011 BLS Employment numbers came out on Friday and they added a big goose egg to the new employment rolls. That's right!  zero, nada, nothing. No new jobs were added! Economists say that you need at least 125,000 to 150,000 new jobs a month to absorb new job seekers into the market.  In August we had none. So on top of the 125,000 new job seekers we added in August 2011, we have at least 15 million additional American also looking for a job. Funny enough, the unemployment rate didn't change, but should have gone up at least 1 point with these numbers. It didn't. Thank God for government statisticians!

So how do they save such a bad jobs report?

Also another bit of government slight of hand happens every month in the BLS statistics called the Net Birth-Death model.  It adds and supposedly subtracts various job categories to "help" smooth out the job numbers during the year. Yes, the Birth-Death model is used in all of the government numbers, but they are constantly used to lie and deceive. This month the Birth-death model added 87,000 ghost jobs to the figure and they still weren't able to show jobs added to the economy. Since March of 2011 the Birth Death Model has added 700,000 net ghost jobs to the BLS employment numbers while their adjusted numbers numbers are showing 237,000 less Americans employed since March 2011. 

Guess which one is closer to reality?! Neither. Shadow Stats numbers that look behind the bogus numbers the government pounds out show that we really have over 22% unemployment and or underemployment in the USA.

We are heading in the wrong direction and the lame QE III stimulus - More debt we can't pay -  or bailing out the "To Big To Fail" businesses while ignoring Main Street is creating a economic abyss that neither Congress or Mr. Obama have been willing to openly deal with the American public.

Time to stop asking the people to eat their peas, Mr. Obama, and demand that Congress make wholesale changes and cuts to spending. Time to make Wall Street & The Big Banks eat their peas and stop the defrauding America.