Friday, August 07, 2009

Government And Press
Cover Up Job Losses

by Rex Nutting - August 7th, 2009 - Market Watch

Job losses moderate in July

Job losses slowed in July to the lowest total since August as the unemployment rate unexpectedly fell back to 9.4%, the Labor Department estimated Friday.

U.S. nonfarm payrolls fell by 247,000 to 131.5 million in July, the 19th consecutive month of job losses, about in line with economists' estimates of a 275,000 decline.

So how does this jibe? Employment fell by 247,000 jobs, yet the unemployment rate is supposedly lower? The reality is that the "unemployment rate" put out by the government is a total fraud. Real unemployment continues to increase and is over 16%, approaching the level of the depression years. It has doubled since Obama became President. The line that "the unemployment rate unexpectedly fell back" is so obvious a lie it is pitiful. Government bureaucrats are frantic to keep the published rate from hitting double digits because they are certain it will hurt Obama's popularity.

This is not about a "government report", it is about an Obama "press release". The article is not "news", it is an Obama "puff piece".


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