10/01/2016

Update to BLS December Payroll Jobs Report: It is even worse than I reported — Paul Craig Roberts

I always look forward to Dr Roberts' analysis of the US Bureau of Labour Statistics monthly jobs report.  I have learned that most of what the US BLS publishes is manipulated and does not reflect actual economic conditions.  Every month the BLS publishes their jobs numbers, the mainstream press & economists cheer the great numbers and the equity markets have tended to rally higher.  This past week was the worst start of the year ever for stock markets.  Soon the bulk of the population will see through the facade that is economic reporting.  

"In my column on Friday I reported the unreported facts in the payroll jobs report. http://www.paulcraigroberts.org/2016/01/08/another-fabricated-jobs-report-paul-craig-roberts-2/ If we choose to believe the report, it is really very bad news. Good middle class jobs are continuing to decline. The new jobs are jobs that pay considerably less and often are part-time jobs devoid of benefits. Moreover, the new jobs are going to people outside the prime working age. The unavoidable conclusion is that for the majority of Americans, economic prospects are declining."

Continue reading Dr Paul Craig Roberts' article: BLS December Payroll Jobs Report

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