“Either there is something massively changed in the income tax collection world, or there is something very, very suspicious about today’s BLS hugely positive number,” adding, “Actual jobs, not seasonally adjusted, are down 2.9 million over the past two months. It is only after seasonal adjustments – made at the sole discretion of the Bureau of Labor Statistics economists – that 2.9 million fewer jobs gets translated into 446,000 new seasonally adjusted jobs.” He wonders whether the BLS is being pressured during an election year to paint an overly optimistic picture by President Obama’s administration in light of these ‘real unadjusted job change’ facts.
Only the Ministry of Truth can manage to turn a 2.9 million job loss over two months into 446,000 new jobs GAINED.
For the record, TrimTabs tracks daily tax RECEIPTS by the government, which is much more accurately reflects the number of jobs added/lost. Of course the BLS doesn’t do this though, as it is not in the best interests of the current administration.