While the media pants with exhilaration over a dip in the unemployment level that was created by over a half-million people giving up and dropping out of the workforce, a deep-dive into the employment numbers also reveals that it's mainly government workers benefitting [sic] from what meager job growth we are seeing. Over the last five months, 73% of all jobs created were government jobs. Moreover, the unemployment rate for government workers plunged to 3.8% in November -- which is considered full employment.
Even though deficits rule the day at every level of government, according to the Bureau of Labor Statistics, of the 847,000 new jobs created since June, a full 621,000 were government jobs. In November alone, 35,000 new government jobs were created.
In other words, as the labor participation rate plummets to a thirty year low -- which means we have fewer taxpayers -- we're not only increasing the number of taxpayer-funded jobs, but the government is using the creation of these jobs to juice the employment numbers in a way that makes it look as though the job situation is actually improving.
Naturally, none of this would be possible without a compliant media working overtime to bring out the pom-poms and cover up what's really going on.
Saturday, December 8, 2012
73% of Jobs Created In Last Five Months are Government Jobs
73% of Jobs Created In Last Five Months are Government Jobs: