This Morning's Jobs Report Just Screams Fraud!

Most all of this morning's economic news headlines read like this one from Bloomberg news: U.S. Jobless Rate Unexpectedly Declines to 8.6%.

So, supposedly, we added enough jobs to lower the unemployment rate by four-tenths of one percent from last month's rate of 9%. To put this into perspective, we currently have a labor force of about 154 million workers. To achieve a four-tenths lowering of the unemployment rate, we needed to add over 600,000 new jobs. Now, according to the report, itself, we only added 120,000 jobs in November. Then, going back to October's data, that previously reported number was revised upwards by 20,000. Therefore, overall, only 140,000 jobs were supposedly created in this reporting period. Certainly, well short of the needed 600,000. What's worse, the report also states that the workforce shrank by 315,000 workers because those unemployed workers grudgingly gave up looking for work. Therefore, the net of this report is that our economy actually "lost" 175,000 jobs. Yet the unemployment rate fell dramatically.

The reality is that this report doesn't jive with its own internal facts. It also doesn't jive with the last Gross Domestic Product (GDP) report which had been revised downwards to a mere 2% economic growth in the last quarter. Most economists would tell you that you would need a minimum of 2.5% GDP growth before there would be any "real" job creation and a "true" lowering of the unemployment rate. Lastly, this report certainly doesn't match up with the fact that the jobless claims numbers have consistently stayed near or above the 400,000 level. Simply speaking, this morning's report is either an incompetent handling of the data or, what's worse, a blatant political deception.

Already, this morning, key Democrats and the liberal media are falling all over themselves in jubilation of the lowered unemployment rate. All are singing praises to Obama's economic policies. Even Obama hit the microphones to lay claim to "his" creation of 120,000 jobs in November. But, as I have shown, that claim ignores the realities in order to "politically" deceive the public. The fact is that we need to grow the labor force by a minimum of 166,000 jobs, each month,in order to keep up with simple population growth. Obama is a fraud. Throughout his term in office, there has never been a month where there has been any true job creation. And, that's the truth that Obama continues to hide, month after month, in an attempt to prove that his economic policies are working and that he should be reelected.