T-Waves

[Tetres]

Current Jobs data STUNK... here's the Scoop

As many can tell, I am more than a little upset at the recent unemployment numbers released by our deceitful government.

I know that these are strong words but I feel passionately about the continued release of pro forma propaganda numbers from our government. (By the way some of my readers have thought I spin these numbers to enrich my analysis of a pending double dip recession please, this is so far from the truth you can see for yourself the full report is here for all to view) http://www.bls.gov/news.release/empsit.nr0.htm

This months report was filled will illusions and was inundated with crafty smoke and mirrors effects, who ever crafted it should look up Steven Spielberg as I’m sure he has a better paying job waiting in his special effects department.

The headline numbers alluded to 39,000 new jobs being created in August. What the headline numbers failed to point to was that, 22,000 of the 39,000 were hired as airport security personnel and 34,000 were teachers going back to work. I am really getting sick of the deception. Neither of these increases which totaled 54,000 are going to be repeated next month !!

In effect the employment rate should have flashed a negative sign…After the large number of jobs that have been lost and are proposed to be cut in September we could see the next number come in at 6.2+%

How many heard from the talking-butt-heads that the help supply industry, which provides workers to other businesses, added 51,000 jobs over the month, following a decline of 30,000 in July. **This means that corporations are still unsure about their staffing, and would rather hire temporary non-benefited workers

Good paying manufacturing jobs )Those jobs that help to stabilize our economy) were still slashed, as employment declined by 68,000 in August. In August, job losses were widespread, including substantial declines in electronic and other electrical equipment (18,000) and industrial machinery and equipment (13,000). After remaining fairly steady from January through July, employment in fabricated metal products decreased by 10,000 in August. Rubber and plastics manufacturing lost 7,000 jobs, offsetting the previous month’s increase.

A key point remains that after reviewing the data…53.3% of companies cut workers during August. Those jobs created by the Transportation Authority may have added to the net total of job created but they do squat to add to the GDP. They are service positions…nothing gets manufactured or sold and no equity is built into the overall economy by hiring a clerk or airport screener such employment will not keep us from a double dip recession.

This is my Take

Best of Luck to All
Steve
http://www.twaves.com/