Employment: Not Good News

Whenever you can change the denominator you can make up whatever number you want. Thus goes the employment numbers. The economy demands just by growth of people alone well over 100,000 new hires net per month. We got 75,000 and the unemployment rate goes down. Only in Economics can you have totally counter factual numbers.

First the population percent employed. In June 2006 we had over 45.5% Now we are at 43%. That means that the gap are permanently unemployed, not generating GDP and not producing taxes, and worse requiring unemployment payments and other benefits.

This shows the population increase and the non farm seasonally adjusted employment. Yes it is increasing, except for a drop last month. The gap is closing, which may be some good news.

But when you look above at the workforce percent it has dropped again this month which accounts for most of the decrease in unemployment! In fact the unemployed has gone up if we consider the 2006 numbers.

The above details some of these numbers. Bottom line, we are still getting worse, despite the Government's saying otherwise.