Joke of the Month: "There's No BS Like BLS"

Paul Craig Roberts on today's Bureau of Labor Statistics (BS) Employment Report: I am not doing a payroll employment report this month. It is the same old thing. No goods producing jobs, just lowly paid nontradable domestic services: 44,000 in retail trade, 38,000 in health care and social assistance (primarily ambulatory health care services), 21,000 waitresses and bartenders. The decline in the rate of unemployment is not a result of more jobs. Actually fewer people are employed. The unemployment rate fell because the labor force shrank again as hundreds of thousands more Americans gave up looking for a job and, thus, are no longer counted as unemployed members of the labor force. If you want to read a bit more, here is Dave Kranzler’s report: http://truthingold.blogspot.com/2013/09/the-non-farm-payroll-report-bls.html .

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