This piece was reprinted by OpEd News with permission or license. It may not be reproduced in any form without permission or license from the source.
US employment is more phantom than real. The so-called "birth-death model" manipulates calculations. It estimates net non-reported jobs from new businesses minus losses from others no longer operating.
Doing so exaggerates job creation. Thousands of non-existent ones are added to BLS monthly numbers. Doing so distorts reality.
Williams also said yearend fiscal cliff terms resolved nothing. "Fiscal crisis continues unabated." Congress "did nothing to reduce or contain budget deficits." They're out-of-control. They're rising exponentially.
America is in recession. Media scoundrels don't explain. Nor do talking head economists. They put a brave face on lackluster data.
December's report was called another month of stable, solid, moderate job creation. Millions unable to find work have other views.
Headlines said 155,000 jobs were added. The broader Household survey reported 28,000. The private nonfarm sector declined 23,000. It's down two straight months.
Unemployed numbers rose 164,000. The civilian labor force non-institutional population (NIP) rose 176,000 from 244.174 - 244.350 million. The employment-population ratio was virtually unchanged at 58.6%.
The holy grail of low unemployment remains out of reach. Over five years after crisis conditions erupted, recovery for most Americans remains elusive.
Next Page 1 | 2 | 3 | 4 | 5 | 6 | 7
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
