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Government Numbers Are Worthless & Officials Are Full Of Crap

5 February 2011 9 Comments

The unemployment rate is one of the most worthless numbers that exists.  The “drop” in unemployment from 9.4% yesterday to 9% is a perfect example of how stupid this statistic is.  The fact that our government officials actually use the decrease in this number as something to brag about, it shows how stupid they think you and me are.  Unfortunately, most of us are stupid.

The cause for the decrease was nothing more than the fact that more and more people are falling out of the work force due to complete discouragement.  The number doesn’t factor in people who have given up looking for work.  This is not a positive development.  It doesn’t matter how this tweaks the official unemployment rate, it’s not positive, it’s a negative.

The crazy thing here is that if I had to guess, more and more people are becoming unemployable.  Think of the guy in his late 50’s who has an outdated skill set.  He has nowhere near enough money to retire and needs to work, but can’t get a job.  Unemployable.  These people are increasing, but hey unemployment decreased to 9%!!

I actually heard the secretary of labor or something stupid (title is irrelevant – the lady was an idiot) do her best attempt to spin these numbers on CNBC yesterday.  It was such a joke and the lady should be fired immediately.  These numbers are worthless and the people are full of crap.

The unemployment rate is a worthless number.  If you see a politician using it to promote a political end, you will know that person is an idiot.

9 Comments »

  • Marcus said:

    The fact that our government officials actually use the decrease in this number as something to brag about, it shows how stupid they think you and I are.

    Come on now.

  • 20smoney said:

    Thank you for the great contribution to the discussion

  • Arthur Garcia said:

    Another thing these numbers don't account for is the income that has been lost. For example, people who recently lost their high paying job may now be working at Starbucks making significantly less money.

    The government also does this with the national inflation numbers. They conveniently leave out the price of energy (gas) and commodities (wheat, gold, silver, etc). The sad thing is that most people buy into it.

  • TaJ said:

    "In other economic news today, 8 million people mysteriously disappeared, improving the unemployment rate for people who still exist to 9%."

  • Matthew said:

    One of the problems with the numbers is the inaccuracy. They are still revising employment figures from November.

    In fairness to the Bureau of Labor Statistics, the emphasis by politicians and media belongs to those groups rather than the BLS. We should recognize that everyone, journalists included, have an agenda. If you are interested in making your own opinion rather than simply parroting others, feel free to read the original publication with sumarized data: http://www.bls.gov/news.release/empsit.nr0.htm

  • Ragnar said:

    No Edit Button, sorry for the double post.

    The fall in unemployment is a sign of things to come. More and more masses of people. Unrecognized. Marginalized. Poor. They will feel increasingly betrayed by a government who cheers this 'improvement' and who still subsidizes companies shipping jobs overseas. (anyone have a link to how that works? I haven't found a good one).

    And what will be the tipping point? When they overwhelm programs like foodstamps? When they're not eligible for welfare because they can't find work and start to starve in public? Will we see increasing numbers of homeless who are so destitute that they leave their family's, so their family will be able to go further with having to split food and resources one less way?

  • Matthew said:

    You are now coming to realization? I've been unemployed since December of last year and still can't find and job. I bet i'm not counted on that number. Soon everyone will be taking cash advance payday loan to survice like me.

  • Rojo said:

    I work for a large financial services company. Our economists do their own independent research into the economy because they know that the government numbers are hogwash. A few months ago, they announced that they believe true unemployment to be around 18% and underemployment to be around 25%. The government cannot report these truths for fear that it will send the minions into a tizzy.

    I think our economic pains are far from over, and when Obama and Co, continually sweep the truth under the rug, all it does is prolong the pain.

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