Tyler Durden at ZeroHedge has an analysis of the latest jobs report from DoL. A report that could under no circumstances look bad on top of every other terrible thing Democrats have done to the economy. So, it didn’t look bad, it almost glowed, but according to Durden, it looks like a lie.
A simplistic, superficial take of today’s jobs report would conclude that the red hot jump in nonfarm payrolls indicates a “strong hiring market” (just ignore the jump in the unemployment rate). Nothing could be further from the truth.
Recall that back in August and September, we showed that a stark divergence had opened between the Household and Establishment surveys that comprise the monthly jobs report, and since March the former has been stagnant while the latter has been rising every single month. In addition to that, full-time jobs were plunging while part-time jobs were soaring.
Fast forward to today when the inconsistencies not only continue to grow, but in some cases have becoming downright grotesque.
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What is even more perplexing, is that despite the continued rise in nonfarm payrolls, the Household survey continues to telegraph growing weakness, and as of Oct 31, the gap that opened in March has since grown to a whopping 2.3 million “workers” which may or may not exist anywhere besides the spreadsheet model of some BLS political activist!
According to ZeroHedge, if I read this correctly, the Department of Labor is showing 2.3 million jobs that “don’t exist” and will, at some future point, find a way to express them.
The October jobs report is a Potemkin village erected to help Democrats avoid catastrophic losses on Tuesday. It’s a lie. And it’s not a new lie. Typer explains how the Department of Labor had done the same favor right before an election for both Obama in 2012 and again for the imminent victory of Hillary Clinton at the end of Obama’s second term in 2016.
Not that our readers will be surprised, but it is worth noting that not only the CIA, FBA, DoJ, IRS, State, DoE (Energy), the other DoE (education), and the DoD are weaponized partisan departments, but so is Labor (and all the rest, most likely).
It is why Trump had such a hard time getting anything done and what makes his accomplishments much more impressive. In a world where no one wanted what he wanted, he started a wall, negotiated trade deals, put China on its heels and Iran on notice, effectively ended ISIS, stayed out of new foreign wars, built peace in the Middle East, and kept many of his campaign promises.
It is also why they fear him and will do anything to prevent Republicans like him from capturing any authority, even the milquetoast RINOs that might accidentally put a hitch in the progressive DC step.
The Department of Labor has been on board for years, but the latest Jobs report cements their doe-eyed adoration of the Left, but will it make a difference?
Prices, inflation, and the reality of the jobs market (millions of full-time jobs lost to part-time) can’t have gone unnoticed by the people living in the real world.
Election irregularities aside, and we expect at least a few, we’ll have some sense of it on Wednesday morning.
If it is anything but a massive landslide for Republicans, it won’t go well for America or future jobs reports because I suspect the DoL will ensure those jobs will officially “go missing” while the GOP has the majority.
HT | ZeroHedge
