So, you've seen the June jobs report by now. According to the Obama administration's official figures, only a net 18,000 jobs were added in June. In evaluating that, remember that we need to add 150,000 new jobs per month just to keep up with new workers entering the workforce, before we can even start making any headway on putting the unemployed back to work.
Well, that 18,000 is a lie. The truth is that the net number of jobs added was negative. The economy actually lost 157,000 jobs. Yes. The truth is not +18K but rather -157K.
Let's look at the deceits employed to make that appallingly negative number look at least a little positive.
First, the administration chose to add a totally imaginary 131,000 to that number. Their explanation is that they "believe" this many new jobs were created by newly formed companies, and therefore they are invisible. They have no evidence of this, not a thing to base it on, they just pulled a number out of their collective ass because they felt like it.
But that still left them with a net loss of 26,000 jobs, and they couldn't have that. So they moved 44,000 jobs from May to June. That's right, they just arbitrarily adjusted the May report downwards by 44,000, and moved those jobs into June instead, in order to get themselves the positive number they felt they needed. To quote John Crudele, "It's like moving the fences at Citi Field so the Mets players can hit more home runs. It might make Jose Reyes feel better, but it doesn't actually make him more powerful."
Read the rest of the Crudele's report here.
I can't wait to see how the Obamapologists spin this one-
"He had to do it, there was no choice!" or
"The Republicans forced him to!" or even
"Bush did it too, you know" or maybe that tired old standby
"You just don't understand economics"
As if that wasn't bad enough, the U-6 unemployment rate, the number that really matters, increased from 15.8% to 16.2%, and that number doesn't even include the six million 99ers.