Worse than expected: July LOST 637,000 jobs!!

08/10/2009 • Investment Watch

I just get such a kick out of the “positive” jobs report - think about this, July lost jobs for the 19th consecutive month, but the unemployment rate went DOWN! How do you do that? Well, you move 422,000 people out of the “Civilian labor force”, 155,000 out of “Employment”, 267,000 OUT OF “UNEMPLOYMENT” - even though more are unemployed!!, and move 637,000 INTO “Not in labor force” - there is your reality folks, July LOST 637,000 jobs!! And the market rallied on the bull that unemployment decreased! This administration has taken restating the numbers to a new height! Government and media have taken “spin” to a whole new level. You can’t just listen to/read the news anymore. You have to actually look at the reports and know how to interpret them. Since most folks can’t/won’t do that, most folks remain mis-informed. Sad. And dangerous.