asterisk2a + bls   5

Over 80% Of Jobs Added In January Were Minimum Wage Earners | Zero Hedge
most of the jobs that were created, if only on a goalseeked, seasonally adjusted basis, were of the lowest paying, worst possible quality as has been the case for the past 7 years as the BLS desperately seeks to "pad" its political mandate of providing proof in a recovery which however is impossible if it were to tell the truth. //&! //&! &!
UK  USA  job  creation  Service  Sector  Jobs  minimum  wage  low  pay  low  income  precarious  work  Precariat  BLS  HMRC  DWP  Iain  Duncan  Smith  George  Osborne  David  Cameron  aggregate  demand  Richard  Koo  consumer  debt  household  debt  credit  card  debt  car  loan  secular  stagnation  recovery  GFC  austerity  trickle-down  economics  neoliberalism  neoliberal  living  wage  tax  credit  FOI  Freedom  of  Information  Act  free  market  social  safety  net  welfare  state  housing  benefit  working  poor  economic  history  squeezed  middle  class 
march 2016 by asterisk2a
More Made Up Data From The BLS: Non-Farm Productivity Better Although Huge Prior Revision Wipes Out All 2011 Gains | ZeroHedge
The only economic data point of the day is a disappointment as non-farm productivity drops 0.3% on consensus of -0.9%, although we once again get an unprecedented revision from the BLS whose data can no longer be trust for anything, as Q1 productivity was cut by whopping 2.4% from 1.8% to -0.6%! This is the first consecutive quarterly drop since 3Q, 4Q 2008. Net, this is very disappointing data and means that the economic slow down is far more broad than previously expected. And, not at all surprisingly, we get the same thing with labor costs rising 2.2% on consensus of 2.4%. The kicker yet again is in the revision, which speaks for itself: from 4.8% to 0.7% in Q1. US economic reporting is rapidly becoming a bigger joke than the Chinese Department of Truth.
BLS  statistics  accounting  economics  guesswork  USA  economy  2011  unemployment  productivity 
august 2011 by asterisk2a
Bank Of America's Ethan Harris Explains The Birth Death Adjustment | zero hedge
Yesterday Zero Hedge pointed out that in addition to the 54,000 NFP number missing every single economist estimate, another very troubling statistic was that the BLS added some 206,000 "jobs" courtesy of its monthly birth/death adjustment: numbers which tend to be added on a monthly basis and then subtracted (especially during periods of economic contraction) in one annual benchmark revision which is largely ignored by everyone. In fact, as Peter Tchir pointed out, over the past 4 months, the NFP has added 752k jobs, of which 610k have been birth death jobs. B/D has added 271K jobs YTD in 2011, 510K in 2010, 585K in 2009, 825K in 2008, 883K in 2007, 1002K in 2006, etc, in in the last decade has never once subtracted from the full year tally, which would subsequently be revised lower. You get the picture. Well, yesterday,
USA  economics  labour  statistics  unemployment  employment  2011  fraud  BLS  jobmarket 
june 2011 by asterisk2a

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