Wednesday, February 3, 2010

Never saw it coming

Check out this report just released by Bloomberg showing 824,000 more jobs were lost than were thought.I can't wait for the White House.Nobody saw this coming.It's much worse than we thought.We really,really need that 2nd jobs stimulus ASAP! TV and Radio

Now let me take you back to my posting from Friday,October 2nd,2009 which shows that this was merely the expected result,not a surprise.

2-5-2010 Why?

This is the date on which the Labor Dept. will make a slight correction of the benchmark they use when determining the unemployment number.Current projections indicate there may have been 824,000 more jobs lost than were reported.Oops!Here is the text from the bureau.

Preliminary Estimates of Benchmark Revisions to the Establishment Survey

In accordance with usual practice, the U.S. Bureau of Labor Statistics
is announcing its preliminary estimates of the upcoming annual benchmark
revision to the establishment survey employment series. The final bench-
mark revision will be issued on February 5, 2010, with the publication
of the January 2010 Employment Situation news release.

Each year, the Current Employment Statistics (CES) survey employment
estimates are benchmarked to comprehensive counts of employment for the
month of March. These counts are derived from state unemployment insur-
ance tax records that nearly all employers are required to file. For
national CES employment series, the annual benchmark revisions over the
last 10 years have averaged plus or minus two-tenths of one percent of
total nonfarm employment. The preliminary estimate of the benchmark
revision indicates a downward adjustment to March 2009 total nonfarm
employment of 824,000 (0.6 percent).

Here are the month by month blows since the Obama regime took over.And remember,it was just Sept. 24th when Joe Biden stated to the nations Governors that the success of the stimulus exceeded his wildest imagination.

Mar: 652,000
Apr: 519,000
May: 303,000
June: 463,000
July: 304,000
Aug: 201,000 (preliminary)
Sept: 263,000 (preliminary)
Total: 2,705,000

Thank God for the 1 million jobs Obama claimed his stimulus has saved.More to come...

Transparency at it's finest!Please note from the charts that 990,000 jobs have been reported as created on top of the 824,000 just wiped out.Unfortunately,the ticker is still counting,the Bureau of Labor Statistics will keep on reporting the false job gains and we won't hear the corrected numbers until until February of 2011.They are using a false birth/death model for reporting these numbers and refuse to acknowledge it's flaws.The unemployment numbers being reported each month as well as the ridiculous Obama jobs created or saved or totally unreliable.This fact is very transparent unlike the b.s. coming out of Washington.More to come...

No comments: