LIES, DAMN LIES, AND UNEMPLOYMENT STATISTICS

Everyone needs to lose their job and quit looking then the unemployment rate would be at zero!

The drop in unemployment the Obama Administration reported for January is totally phony. Real, unweighted data showed an increase from 9.1% to 9.8% in joblessness rather than a cut in the highly weighted figure from 9.4% to 9.0%.

Put those weighted numbers on a diet!

Economist Jim Fitzgibbon, head of the Highlander Fund, calls the report “worthless” noting that “the entire report is seasonally adjusted to be positive while the non-seasonally adjusted data is just awful.”

While the seasonally adjusted jobless rate dropped from 9.8% in November to 9.0% now, the non-adjusted data went from 9.1% in November to 9.8% now – the exact reverse!

Go to the Bureau of Labor Statistics for the real data:

http://www.bls.gov/news.release/empsit.t15.htm

Fitzgibbon calls the entire report a “statistical mirage.”