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November jobs report takes fake news to its ultimate end as rate goes down but people without jobs goes up

November jobs report takes fake news to its ultimate end as rate goes down but people without jobs goes up

On Dec. 2 the Bureau of Labor Statistics (BLS) published their second to last jobs report for the Obama administration and the results are something even George Orwell would cringe over.  This is because the modest increase of 178,000 new jobs isn’t even the real story within the report,  but rather the fact that the unemployment rate fell a whopping .3% simply because the government erased 446,000 people from being counted in the labor force.

After it had managed to post a modest increase in the early part of the year, hitting the highest level in one year in March at 63%, the disenchantment with working has returned, and the labor force participation rate had flatlined for the next few month, ultimately dropping in November to 62.7%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 446,000 in November, hitting an all time high of 95.1 million.

As a result of this the US labor force shrank by 226,000 to 159,486K, down from 159,712K a month ago, and helped the unemployment rate tumble to 4.6%, the lowest level since August 2007. – Zerohedge

Only in a world where the storyline of Orwell’s 1984 becomes reality, and fake news is promoted as real news, does a decline in the amount of people working equate to a drop in the unemployment rate.

In addition, the Propaganda Minister for Barack Obama, Mr. Josh Earnest, just yesterday attempted to downplay Donald Trump’s saving of 1100 manufacturing jobs by telling the President-Elect that he needs to do that another 804 times just to equal the number of manufacturing jobs Obama created during his eight years in office.  However when you look at the real data, President Obama hasn’t created a net gain at all of any high paying manufacturing jobs and instead has ridden the wave of low paying part-time ones in which workers have to have two or three just to survive.

The chart below puts this in context: since 2014, the US had added 571,000 waiters and bartenders, and has lost 34,000 manufacturing workers.

Perhaps one of the more interesting consequences to come out of the Donald Trump election results is a new memorandum out from the too big to fail bank J.P. Morgan who on Friday told their investors that information published by the mainstream media was no longer to be trusted because it doesn’t provide an accurate account of economic data and government reporting.

To gauge market risks, equity investors should watch for further increases in bond yields and strengthening of USD. Geopolitical developments should be gauged from both traditional and non-traditional data sources (such as big data sentiment indicators, independent media outlets, etc.) given the failure of many traditional data sources to anticipate geopolitical developments this year. – Zerohedge

The bottom line is that the Nov. 8 election did much more than simply elect a new President and replacement for Barack Obama… it ripped the curtain wide open on the propaganda and fake news that has been the cornerstone of government and media collaboration which has attempted to keep the populace ignorant of just how bad things really are.  And today’s jobs report is a microcosm of why the press and the Democratic Party were completely blindsided by Donald Trump’s victory, because when you start drinking too much of the kool-aid that you shill out to others, reality no longer plays a part in the belief system they create for themselves.

Kenneth Schortgen Jr is a writer for The Daily Economist, Secretsofthefed.comRoguemoney.net, and Viral Liberty, and hosts the popular youtube podcast on Mondays, Wednesdays and Fridays. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.


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