07/02/2016

Are The Payroll Jobs Reports Merely Propaganda Statements? — Paul Craig Roberts

Jeff Fitchett - Dr Paul Craig Roberts does a great job analyzing January's US job numbers.  This is a good article to read if you want to understand how US economic statistics are manipulated. 
"US economics statistics are so screwed up that they do not provide an accurate picture.
Consider the latest monthly payroll jobs report. According to the report, in January 151,000 new jobs were created. Where are these jobs? According to the report, 69% of the new jobs are accounted for by retail employment and waitresses and bartenders. If we add in health care and social assistance, the entirety of the new jobs are accounted for. This is not the employment picture of a First World economy.
According to the report, in January the retail sector added 57,700 jobs. Considering that January is the month that followed a disappointing Christmas December, do you think retailers added 57,700 employees? Such a large increase in retail employment suggests an expected rise in sales, but transportation and warehousing lost 20,300 jobs and wholesale trade added only 8,800."  

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