The Obama Boom continues to defy all economic logic. Just when you think the media is giving up on the booming economy theme the Obama Regime puts out a jobs report that makes the media cheer! According to the BLS, the economy added 163,000 jobs. That’s right, despite falling consumer spending, declining factory orders and an anemic GDP growth of 1.5% the economy added more jobs in June than July. Yet despite this increase in jobs, unemployment went up to 8.3%. The U6 number is up to 15%. So what gives? This article explains what occurred.
The U.S. economy followed up a weak second quarter by creating more jobs than expected with 163,000 new positions added in July, but the unemployment rate rose to 8.3 percent.
Markets reacted positively to the announcement, with the stock market surging at the open and safe-haven bond prices plunging. Economists had been expecting 100,000 new jobs.
As the country struggles to gain growth traction, the unemployment rate held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics.
[....]
Despite the seemingly good news, the report’s household survey showed that the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments in the establishment survey. The birth-death model, which approximates net job growth from newly added or closed businesses, added 52,000 to the total.
The household survey also showed 150,000 fewer Americans in the workforce.
[....]
On a national level, that more encompassing rate edged higher to 15.0 percent.
The household survey showed a drop of 195,000, thus an increase in unemployment. So where did the 163,000 jobs created come from? The BLS used seasonal adjustments to come up with the 163,000 figure. This means that 163,000 jobs where probably not created or the number is lower. Zerohedge explains the seasonal adjustments numbers.
Happy by the headline establishment survey print of 133,245 which says that the US “added” 163,000 jobs in July from 133,082 last month? Consider this: the number was based on a non seasonally adjusted July number of 132,868. This was a 1.248 million drop from the June print. So how did the smoothing work out to make a real plunge into an “adjusted” rise? Simple: the BLS “added” 377K jobs for seasonal purposes. This was the largest seasonal addition in the past decade for a July NFP print in the past decade, possibly ever, as the first chart below shows. But wait, there’s more: the Birth Death adjustment, which adds to the NSA Print to get to the final number, was +52k. How does this compare to July 2011? It is about 1000% higher: the last B/D adjustment was a tiny +5K! In other words, of the 163,000 jobs “added”, 429,000 were based on purely statistical fudging. Doesn’t matter – the flashing red headline is good enough for the algos.
(Hat Tip: Macduff)
In other words, the 163,000 jobs are pure fiction. But it will not matter. The average Joe who is non political and economically ignorant will hear 163,000 jobs created and the media spin that the economy is roaring. This headline will help Obama. Many Conservatives think this election is a slam dunk. It’s not and this number even while make believe will be used to prove the Obama Boom is alive an well.
Do not underestimate what we are up against!
We here at Blogmocracy may know the truth but that doesn’t mean the general public does. We need to spread the truth to our neighbors and friends. It is up to us to counter the propaganda of the Pharonic Regime.
Tags: July Jobs Report, Seasonal Adjustments, The Obama Boom
Reposted from a previous thread--
Speaking of Labor Department games:
@ lobo91:
Yup, they are trying to create the illusion of an economic boom at least till November.
@ Rodan:
They’ve pretty much gone over the line with that one.
They’re actually telling private companies to ignore a federal law, just so it won’t make them look bad before the election.
“This is unprecedented job growth! The rise in unemployment
was unexpected”
That’s how they cover for Obama, with language.
@ RIX:
You know, at some point, people should start to wonder why so much stuff is “unexpected” with this administration…
lobo91 wrote:
After 41 straight months of Unexpected if they haven’t caught on yet, they never will.
Wal@ lobo91:
Yet nothing will happen. Obama has shield wall the likes of which I have never seen in politics.
RIX wrote:
But, wait… this is “further evidence that the U.S. economy is continuing to recover”… Guffaw.
@ huckfunn:
And the front page of the Weekly World News was further proof that “Bat-Boy” was real, too…
Semi-OT, but it does affect an employer:
The Civil Rights Agenda files complaints against Chick-fil-A
You know what I’ve said about “human rights” versus civil rights, and about the gay-rights movement being a “human rights” (special privileges) movement.
If you’ve missed my comments on the history of the gay-rights movement and the nature of the push for same-sex marriage, you can see them in short form at post #51 here.
Wall Street has bought into the economy is booming theme!
@ lobo91:
I wish they’d bring WWN back. That outfit was a hoot.
Do you launch back to The World on Monday?
Terrific job in the dissection of these numbers! Basically, they just took people hired in previous months, adjusted those months down, and restated it all as being a massive July hire. We do this every month, and we can show massive booms up until November with a corresponding increase in the real unemployment rate.
Of course this still doesn’t count all of the people who have stopped looking for work. They’ve become unpersons. They look bad for the regiem, so they are ignored by the MFM. Not even Fox mentions them.
@ Flyovercountry:
These numbers are garbage. It’s not based in reality.
@ huckfunn:
A week from Monday.
@ Iron Fist:
U6 went up to 15%. The labor participation rate went down as well.
@ Iron Fist:
“You can’t handle the truth!”
@ Iron Fist:
@ Flyovercountry:
@ Rodan:
Also, see Cold’s Special Report on U-6. Those are the real numbers.
@ Rodan:
It doesn’t even qualify as, “Alice in Wonderland,” quality.
meanwhile congress is about to take another 5 week vacation…what’s the point…I hate these guys
lobo91 wrote:
Yeah, & why is only bad news unexpected & all
of the good things unprecedented?
Four years of blaming Bush, earthquakes, Euro economics.
& ATM machines & the race is close?
Right outside my study window, the hummingbirds are going wild over some bright red flowers Mrs. Funn planted. The petals are sort of tubular. There are 2 tribes of hummingbirds enjoying the feast. 1 tribe is totally green. the other tribe has a black head. Ever seen hummingbirds in a street fight?
heysoos wrote:
Would you rather have them in session screwing more stuff up?
@ huckfunn:
They have no shame. I would call Obama a failure, but
I think that his destruction is willfull.
@ lobo91:
who cares…I gave up a long time ago…my pessimism is off the scale
huckfunn wrote:
I’m seeing “West Side Story”……..with hummingbirds.
@ heysoos:
@ lobo91:
Obammy’s DOE doubles down on teh schtoopid.
Energy Dept. spends $43 billion on researching better electric car batteries
RIX wrote:
Yes, but there’s still more work to be done. /// groan.
@ huckfunn:
And monkeys could fly out of my butt, too…
heysoos wrote:
I like them being on vacation.
Less damage is done when they are away.
lobo91 wrote:
Chu is a total lunatic. While our military is about to go down in flames due to sequestration, Chu spent untold millions on biofuels for the all new eeek-o Green Fleet. Madness.
@ huckfunn:
I read a piece yesterday about the Federal Government continuing their spree of buying cars (even though there are literally garages full of the damned things that are unused. It said there’s now a government car for every seven employees.
Even in the face of imminent fiscal insolvency, there’s absolutely no signs of even a token reduction….nay, new avenues are being found for the senseless, obscene and, in my opinion, criminal profligacy.
@ MacDuff:
They have to do something with all those cars GM is building that nobody wants…
Haw!
@ huckfunn:
Is that the same China that’s building a new coal-fired powerplant every week?
RIX wrote:
Is it wrong for me to say that there is a dark part of me that wishes mass suicides on the part of the FCTM™ upon Обама’s defeat at the polls?
The plaintiffs (SEIU, Obama for America, etc.) in the Ohio voter-ID case are claiming that it is unconstitutional to require signatures of voters using provisional ballots to match.
Forget “photo ID”; they’ve ramped it up to a whole new level.
MacDuff wrote:
Give Обама time and that ratio will go 1:1….
@ MacDuff:
Yep. As of 2 weeks ago there was a 135 day supply of GM cars sitting in dealer lots, while the industry standard is about half of that. And all of that over-stock went on the books as “sold” when it left the factory.
lobo91 wrote:
That would be the same China. I guess now Obama can claim that he won the race.
jb@ huckfunn:
Instapundit has been reporting that there is an equally well-sourced rumor that Harry Reid is a pederast. Reid hasn’t denied it.
@ huckfunn:
The other day I went to a mall for lunch, and outside the Food Court there was a brand new GMC Sierra 4-door pickup truck, fully loaded! And how much did the sticker say?
FIFTY-FIVE THOUSAND DAMNED DOLLARS!
Let that sink in.
FIFTY-FIVE THOUSAND DAMNED DOLLARS!
@ Macker:
That’s one high Sierra.
@ buzzsawmonkey:
BOOOOOOOOOOOOOOOOOOO!!
@ buzzsawmonkey:
They might as well say that anything that prevents voter fraud is unconstitutional. That is what they really mean. Like I’ve been saying, anyone who is against voter ID is pro-voter fraud. Period.
@ Macker:
Yikes! I just looked at the Kelly Blue value on my ’08 Tundra with 60k miles and its value is exactly what I bought it for almost 2 years ago.
Iron Fist wrote:
He’s a complete piece of shit.
@ Macker:
You will of course now be reported to Harry Ried,
huckfunn wrote:
Thanks to Cash For Clunkers…eliminating an entire generation of used cars, thus driving up the prices on those now being turned in.
@ RIX:
[Deleted]
OFF TOPIC: USA 156, Nigeria 73….
Macker wrote:
Eliminating an entire generation of used cars with Cash for Clunkers.
Eliminating several generations of children’s books by outlawing pre-1985 books on “safety” grounds because of supposed levels of lead in the printing ink.
Eliminating incandescent light bulbs on the grounds that they use too much electricity and are not therefore “green” enough.
Eliminating electricity by causing coal-fired plants to close.
Eliminating the coal industry by causing the market—coal-fired plants—to disappear.
Eliminating freedom of travel by restricting the availability of gasoline through diminished petroleum production.
lobo91 wrote:
They are now changing their policy to natural gas.
Later Gators!
RIX wrote:
I’ve also gotta go. I’ve been batching it for the past week and I need to shovel this place out before wife gets home.
Later.
Guggi wrote:
Must be cheaper. They wouldn’t switch for any other reason.
Macker wrote:
my brother in law owns the Chevy version…I don’t say it’s worth it, but it is one hell of a nice truck
lobo91 wrote:
Maybe they are running out of coal miners? /
A dangerous profession to begin with, but it must especially be as it must be done in China. I have seen several stories of horrific accidents.
@ citizen_q:
Someone should send OSHA after them…
@ lobo91:
That would make for some interesting theater.
citizen_q wrote:
Or target practice…
@ citizen_q:
I don’t know…does OSHA have a SWAT team? It seems like just about every other federal agency does now.
buzzsawmonkey wrote:
Something very Orwellian/”Fahrenheit 451″ ish about this.
The Osprey wrote:
Yes. About all of it, actually—because all of it goes to eliminating the past America that we grew up in, and any record of it.
As O’Brien says to Winston Smith in 1984, “He who controls the past controls the future. He who controls the present controls the past.”
Okay off-topic but Will Ferral is taking this hard. LOL! Watch video.
So sad…too bad.
http://fox411.blogs.foxnews.com/post/28628688520/will-ferrell-broke-down-on-conan-thursday-night?intcmp=features
@ Lily:
Trampvire?
Oh dear I have killed the thread with some Friday humor.
@ Lily:
It’s dead Jim!!!!
lobo91 wrote:
Don’t know, but the thought of the goings on at an OSHA inspection at just about any Chinese work place would be hilarious.
I think you have an idea for a new reality show.
@ MikeA:
I know
and here I was trying to lift it up with a funny about the absurd media about the two young stars. They are really over doing this. Damn ….young 20 year olds break up all the time. 
@ Lily:
I think the thread was dead before you got here…
Iron Fist wrote:
Gosh just me thinking about posting on a thread…kills it????
/dear heavens what does that make me???
Well I always say if you are going to do something do it right. Now I only have to think about posting…dead.
@ Lily:
Or maybe it’s just Friday.
Lily wrote:
Sunspots? /
@ citizen_q:
Dog days of August? Probably sunspots!
And this story just will not go away because of the media…this is insanity.
http://weaselzippers.us/2012/08/03/chick-fil-a-restaurant-vandalized-with-tastes-like-hate-graffiti-hours-before-lgbt-kiss-in/
buzzsawmonkey wrote:
Kinda like Islam too, wouldn’t you agree?
Honestly really they are going to double-down on this? Obama seems crazier and crazier each and every day. Idiots. I smell desperation in the air in the obama campagin. Good.
http://weaselzippers.us/2012/08/03/obama-tied-think-tank-center-for-american-progress-kicks-the-rhetoric-up-a-few-million-notches-romney-would-kill-360000-people/
@ Lily:
Which reminds me of this….for some reason.
Dear heavens…guys..I think it is dead Jim. The CPR is just not working!
What a wonderful fucking day in the market it is today. the Market-Maker Knight through corruption and incompetence lose $440 billion dollars yesterday and is now taking it out on the micro-cap and small-cap companies by naked shorting their investors.
For those watching the Market, yes today’s surge can be attributed to Knights attempting to naked short numerous blue chip’s yesterday and failing. Hence their loss of $440 billion dollars and the market’s gain of 200+ points on a day when it should be down around -30 or so.
There was a time when I foolishly and naively believed that because God himself coveted Justice, that the sociopaths at companies like Knight would eventually find themselves subject to prosecution by the SEC. But then I woke up and realized that when it comes to the Stock Market, God just doesn’t care, and the SEC is 100 percent paid off by the likes of Knight to look the other way while investors are robbed blind while expecting the SEC to protect them from criminals like Knight.
It is worse than dead Jim!!!
@ doriangrey:
It isn’t that God doesn’t care…if he doesn’t pay in this world he will in the next.
@ Lily:
CFAP isn’t a “think tank,” it’s a Soros-funded left-wing propaganda factory.
@ Lily:
Cue Alexander Courage Music….
lobo91 wrote:
Figures.. I am not certainly not surprised.
@ Lily:
Media Matters is one of its spin-offs, as well as the left-wing blog Think Progress.
It’s run by former Clintonista John Podesta, and Hillary CLinton is on the board.
@ lobo91:
Actually, I think they’re trying to bait companies into agreeing with the warning hold-off. If the companies take the bait the same White House bureaucrats will later slam those companies for non compliance of the labor law. That will make the Defense contractors the EVIL ones.
@ Peter:
One would hope that said companies retain attorneys and record every. Single. Frakking. Message. the White House sends.
@ Peter:
Maybe, but Labor put the policy in writing in the form of letters sent to the companies in question.
That would be kind of hard to explain…
@ Macker:
The article had a link to a copy of the letter.