The US unemployment figures are much worse than reported
It is incredible, but the US government reports two conflicting monthly employment numbers. These numbers are not even close. According to the US Department of Labor, the unemployment figure for June 2009 is 417,000. In another report the US Department of Labor reports that the June 2009 job loss is 615,250 - a huge difference of 198,250. Who can we trust?
Naturally, the media reports the smaller number to paint a rosier picture. As this is being written, President Obama, himself is reporting the 417,000 figure.
The higher figure of 618,000 is not difficult to find - if you know where to look. It is in the US Department of Labor’s ETA Press Release (click).
Here is a direct quote from the ETA press release.
In the week ending June 27, the advance figure for seasonally adjusted initial claims was 614,000, a decrease of 16,000 from the previous week’s revised figure of 630,000. The 4-week moving average was 615,250, a decrease of 2,750 from the previous week’s revised average of 618,000.
The ETA press release also reports some other telling unemployment figures, which show that even the Federal government is laying off people (contrary to public opinion and media reporting.
There were 17,022 former Federal civilian employees claiming UI benefits for the week ending June 13, an increase of 278 from the previous week.
Returning veterans are nearly all reporting to the unemployment line.
Newly discharged veterans claiming benefits totaled 28,364, an increase of 514 from the prior week.
The ETA press release comes with a warning, “TRANSMISSION OF MATERIAL IN THIS IS EMBARGOED UNTIL 8:30 A.M. (EDT), THURSDAY.”
The US Department of Labor does not want the true information to be released, until after the lower figures are picked up by the media.
It is incredible, but the US government reports two conflicting monthly employment numbers. These numbers are not even close. According to the US Department of Labor, the unemployment figure for June 2009 is 417,000. In another report the US Department of Labor reports that the June 2009 job loss is 615,250 - a huge difference of 198,250. Who can we trust?
Naturally, the media reports the smaller number to paint a rosier picture. As this is being written, President Obama, himself is reporting the 417,000 figure.
The higher figure of 618,000 is not difficult to find - if you know where to look. It is in the US Department of Labor’s ETA Press Release (click).
Here is a direct quote from the ETA press release.
In the week ending June 27, the advance figure for seasonally adjusted initial claims was 614,000, a decrease of 16,000 from the previous week’s revised figure of 630,000. The 4-week moving average was 615,250, a decrease of 2,750 from the previous week’s revised average of 618,000.
The ETA press release also reports some other telling unemployment figures, which show that even the Federal government is laying off people (contrary to public opinion and media reporting.
There were 17,022 former Federal civilian employees claiming UI benefits for the week ending June 13, an increase of 278 from the previous week.
Returning veterans are nearly all reporting to the unemployment line.
Newly discharged veterans claiming benefits totaled 28,364, an increase of 514 from the prior week.
The ETA press release comes with a warning, “TRANSMISSION OF MATERIAL IN THIS IS EMBARGOED UNTIL 8:30 A.M. (EDT), THURSDAY.”
The US Department of Labor does not want the true information to be released, until after the lower figures are picked up by the media.
