BLS Created 112,000 Fictitious Jobs With The Birth Death Model in February

03-04-2011 • EconomicEdge.blogspot.com/

Meanwhile the completely phony “Birth/Death” model went from subtracting 339,000 jobs in their annual correction last month to adding 112,000 jobs this month. That is a 451,000 swing from one month to the next with just this model, and note how the adjustments this year are growing substantially over last year. This is nothing but manipulation of the data, plain and simple: Along comes the reinstatement of Mark-to-Fantasy accounting, TARP, FNM trillions, FRE trillions, then one bailout after another, then QE1, QE2, etc, and what this did was to turn our economy into a corpocracy where large corporations are able to privatize their profits and socialize their losses. This shifted the RISK from the private sector onto the public sector. So, first we had employment falling in the public sector and now we have employment falling in the public sector – not that falling employment in the public sector isn’t a good thing, it is, but it still pressures the real economy while its happening. Below is a chart showing Government Employment from 1939 to present where .gov went from 4 million employees all the way to 22.2 million – that’s a 555% increase, far greater than the increase in the size of the population which slightly more than doubled in the same time: But since 2009, the government has been shedding jobs as the impossible math of debt has saturated government on all levels: