– Full-Time Jobs Down 150K, Participation Rate Remains At 35 Year Lows, “No Job Market For Young Men” (ZeroHedge, Dec 5, 2014):
While the seasonally-adjusted headline Establishment Survey payroll print reported by the BLS moments ago may be indicative of an economy which the Fed will soon have to temper in an attempt to cool down, a closer read of the November payrolls report shows several other things that were not quite as rosy. First, the Household Survey was nowhere close to confirming the Establishment Survey data, suggesting jobs rose only by 4K from 147,283K to 147,287K, and furthermore, the breakdown was skewed fully in favor of Part-Time jobs, which rose by 77K while Full-Time jobs declined by 150K.
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The real losses are much higher, but the ultimate lies, statistics, deny them.
Nobody believes the weekly “jobless claims” any longer…….they are new jobs that have been lost, and don’t include many that are left out of the computation.
The US has lost all credibility. Once that is gone, there is nothing left.