Largest U.S. Jobs-Lies Yet
The U.S. Bureau of Labor Statistics deserves credit for being audacious, if nothing else. On the same day that it admitted that its “birth/death model” had understated U.S. job losses by more than 100,000 jobs per month throughout 2009, it started off 2010 with its largest one-month jobs-lie yet – since it severed all connection with reality in its “statistics”.
Let's take these bombshells one at a time. Once a year, the Bureau of Labor Statistics does a revision of its jobs numbers, by comparing actual jobs totals from tax receipts against their own “estimates”, which include the “birth/death” adjustment. For those unfamiliar with this statistical manipulation, the BLS's “birth/death model” is a completely discredited tool which supposedly counts all the jobs which are “invisible” to the U.S. government's massive army of statisticians. No other government engages in these flawed adjustments.
Conveniently, what this supposedly unbiased “model” always does is to understate job creation when the economy is strong, and understate job losses when the economy is weak. Put more bluntly, this is a statistical contrivance where the U.S. government 'borrows' jobs from the good months to add to the bad months. Of course, with the debt-crippled U.S. economy no longer having any “good months”, it's only function now is to add phantom “jobs”.
