U.S. “Unemployment Rate” Once Again Exposed As Grand Hoax

The U.S. Government yesterday issued its statistics for the most recent month for net job creation and the so-called “unemployment rate.”

There was “Good News” and “Bad News.” (Bad news is generally called “discouraging” or “disappointing” news in the sugar-coated locutions some official media business/economic commentators employ- and in the U.S., business and “economics” are inextricably linked, destroying any objectivity the economics could have by embedding a business-centric bias into it.)

The Bad News- only 74,000 jobs were created in December, a very low number. The rate of job creation is now at a three-year low. Private sector- i.e. business- “economists” (economic soothsayers and shills) had predicted closer to 200,000 new jobs. (But even that would have been less than needed just to keep up with population growth, let alone reducing the mountain of unemployed people dumped by the U.S. capitalist system in the recent recession and financial crisis.) [1]

The Good News- the “unemployment rate” FELL 0.3%, from 7% in November to 6.7% in December.

But how could that be with so few new jobs created?

Easy- the Government just counts fewer people as “workers.” Once the Government decides you're no longer “looking for work,” you're no longer unemployed! Presto!

So, logically, the solution to unemployment is for all unemployed people to give up trying to get hired. Then they won't be unemployed anymore. Problem solved!!

The Government calls people whose attempt to find employment is hopeless and who thus are not “actively seeking work” “discouraged workers.” At the same time, they are NOT counted as part of the labor force, and thus are not counted as workers at all.

I wonder if they are still “consumers.” The capitalist media speaks of “consumers” as if they aren't workers too, or people dependent on workers to HAVE MONEY TO BUY STUFF WITH, which is what is meant by “consuming.” They speak of “consumers” as if they aren't the exact same people who are dependent on income from jobs. This is voodoo economics, designed to mystify socio-economic reality so as to prevent honest understanding- which might lead to pressure for change, or even worse, political activism.

1] The radio station of Michael Bloomberg Billionaire put a happy face on it, blaming the weather- which is totally bogus. Their survey of 90 economists also was dead wrong on predicting the jobs-creation total- which shows how much stock one should put in the “science” that these guys allegedly practice. And NPR, the quasi-U.S. Government propaganda radio network, says “the numbers sent mixed signals.” They are masters of the mealy-mouthed, maestros of muddle. And NPR spoons out the line that the Obama regime is doing something or other. By 5 pm NPR's John Itsty rounded up a private economist or two to say the Government job creation number was just wrong. Instead they pointed to the number of private corporation ADP, which claimed 238,000 new jobs in December. (No mention of the fact that ADP often is wildly at odds with Government statistics,and is WRONG.)