July 3rd, 2008
I was reading Dwight’s daily post at WesCorp. And he is commenting on the Unemployment report (not good BTW).
While the initial reaction to the Unemployment Report was one of relief, the fact remains that this was a very ugly report. There was nothing to feel good about. The survey that is used in calcutlating the Unemployment Rate was particularly gloomy. While the teen job sector did adjust from the last month’s faulty seasonal, all other elements deteriorated in the month of June. Here’s a spin one economists put on the number. He said (and I’ll leave him nameless) that at some point soon, many of those unemployed will simply give up looking for jobs. The BLS will then classify them as “discouraged workers”. This means they will no longer be considered unemployed, and that will soften the rise in the Unemployment Rate. In other words, you no longer exist in the eyes of the BLS. What a concept! Now if they can just eliminate the price of oil from memory banks, all will be well.
Does the book 1984 mean anything to you? The Gov’t is messing with inflation, messing with unemployment, etc. Why can’t they just be honest? And I’m not just pointing fingers and the current administration. It seems that politicians in general can’t seem to speak the truth. Just drives me crazy.
Also, I’m working on the newsletter. Trying to round up some positive news. Anybody have any? I hate being so negative. Keep Looking up…
-- By +Chris Duncan