Federal docs contradict 8.9% hyped by media
The real U.S. unemployment rate may be 22.1 percent for February, not the 8.9 percent reported by the government, according to economist John Williams, author of the "Shadow Government Statistics" website, who has argued for years that the federal government manipulates the reporting of economic data for political purposes.
The government announced today the unemployment rate was reported to have fallen 0.1 percent to 8.9 percent in February, although that is the "seasonally adjusted number."
According to Bureau of Labor Statistics Table A15, the "not seasonally adjusted" unemployment number for February was 9.5 percent.
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The government announced today the unemployment rate was reported to have fallen 0.1 percent to 8.9 percent in February, although that is the "seasonally adjusted number."
According to Bureau of Labor Statistics Table A15, the "not seasonally adjusted" unemployment number for February was 9.5 percent.
More
4 comments:
Do not be misled by the Fed's reporting standards.
And, particularly, do not be misled by Maryland's reporting standards. Just yesterday - on the front page of the Baltimore Sun - it reported that Maryland gained 15,000 business jobs. But if you read the fine print - it stated that the 15,000 jobs were created by Federal and State Agencies - (not businesses). Bottom line - the statistics cited are a further drain on personal wealth as it is ultimately going to fuel increased taxation - in order to feed the monster.
Of course SBYnews readers are more - astute - as we publish the actual number of local private sector Factory closings & number of displaced workers.
It is really a no-brainer scenario as to the increase in Government growth job base. When a private sector business closes - the former private property is almost simultaneously gobbled up by your Federal, State, & local goverment. Then - comes the huge capital improvements which require - guess what? MORE GOVERNMENT SPENDING! The private sector property is then removed from the Tax rolls - as the new Government agencies are exempt.
Thus - the tax base is narrowed - resulting in higher taxes for ordinary taxpaying citizens.
Beezer - You could have not stated it more eloquently.
During the election campaign, Ehrlich raised the 'red flag' on the astronimical number of Maryland business closures. Ever since then it is interesting to notice that O'Malley takes every opportunity to 'white wash' the real statistics and replace with erroneous data.
Just like everything else that comes from the government-a lie.
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