GOVERNMENT REPORT: UNEMPLOYMENT DROP$ to 6.7%! NAAWP calls BULL$HYT!
In a highly surprising monthly job report, the Bureau of Labor Statistics announced Friday that the private-sector added a seasonally adjusted 87,000 new jobs in December and government shed 13,000 jobs for a total of 74,000. That's the lowest level since January 2011 and more than 120,000 below the consensus of economists and other analysts queried earlier this week. It was also the smallest number of jobs created in December since 2009. The official unemployment rate—which BLS calls U3 and calculates in a separate survey—fell to 6.7 percent. That anomalous drop was due to a fall of 347,000 in the civilian labor force.
The seasonally adjusted 203,000 job gain the BLS reported for November was revised to 241,000. The October figures were unrevised at 200,000.
The surprising level of job growth is likely to have the experts in a quandary, especially given that Automated Data Processing on Wednesday had reported a gain of 238,000 private-sector jobs for December.
One thing for certain, the BLS report puts a crimp in the steady drumbeat of the assessments that the economy is finally set to grow substantially in 2014 after 54 months of tepid growth since the Great Recession officially ended. For millions of jobless Americans, or those who can't find full-time work, that official assessment is a JOKE!
Read the latest Breaking BULL$HYT coming out of the OBAMA ADMINISTRATION:
fatuous1
(504) 231-3056
MARK TRAINA
mark a. traina/certified school psychologist/economist/civil rights activist/504-231-3056
NATIONAL and INTERNATIONAL ASSOCIATION for the ADVANCEMENT of WHITE PEOPLE in 2014
"The NAAWP has EVERYTHING to do with basic HUMAN RIGHTS and CHRISTAINITY, and absolutely NOTHING to do with RACISM!" (TRAINAISM, 2012)
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