by Dave Kranzler, Investment Research Dynamics:
There’s no BS like the brown stuff tossed at us by the BLS (Bureau of Labor Statistics). Not only do they want us to believe that the economy produced 257,000 jobs in January, during a time in which the energy – the largest source of jobs growth since 2009 – was cutting 10’s of thousands of workers, they revised November’s supposed 353k job gain up to 423k. It was the second biggest monthly jobs increase this century. Anyone believe that?
It’s gets better: the notoriously ridiculous birth-death model modeled in at 257k net loss in jobs. How is it possible that economy generated any jobs growth if big companies are dumping workers (see IBM + big oil + oil shale) and the traditional engine of jobs growth – new business start-ups – were unloading jobs? I’ll tell you how: pure, unadulterated statistical lies.
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