The Real February Jobs Report

Inform The Pundits!

The Bureau of Labor Statistics (BLS) released February’s monthly jobs report today.

It exceeded all expectations. It’s one of the best looking jobs reports in months:

  • Unemployment dropped from 7.9% to 7.7%
  • Employment grew +236,000 over January
  • Construction employment up +151,000 since September

However, the good news masks the rotten core that yet remains hidden under the hood. Ignore it at our economic peril.

Good News, Bad News

The BLS is a highly public government agency that presents facts favorable to whatever administration is in power – Democratic or Republican.

Things are never as rosy as presented in the monthly jobs report. The bad numbers are either minimized or ignored. That is to be expected. Its up to us to find the reality check.

For example, just three months ago the same drop in November’s unemployment – 7.9% to 7.7% – was hailed as recovery! We’ve recycled back to that…

View original post 364 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s