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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: gregor_us who wrote (1255)3/5/2004 11:21:14 AM
From: mishedlo  Read Replies (2) of 116555
 
Employment Disaster
Lies and Damn lies: 265,000 net jobs were LOST during the month - and the numbers below have been diddled to make it appear that things stayed the same. Can you believe this crap? Read on...

Here's the press release from the Bureau of Labor Statistics
Nonfarm employment was little changed (+21,000) in February, and the
unemployment rate remained at 5.6 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment levels in most of the major industries were little changed over the month. This is an amazing admission - because the report of +21,000 jobs was the best the Department could come up with under election year pressure. Does this sound like the much hyped about 2.5 million job creation number bandied about by the completely out of touch people in the WH staff?

Read the rest of the disgusting truth here:
urbansurvival.com
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Mish notes:
21,000 jobs were added IN TOTAL when 125,000 were expected!
But if you dig deeper you see the govt added (ta da) 21,000 employees.
Remove govt jobs and we added ZERO jobs (which of course means we really lost jobs, and tons of them).

LMAO
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