"According to the BLS, there were 163,000 new nonfarm payroll jobs created in July. This figure is about 13,000 more jobs than is needed to keep pace with population growth."
The Bad News About Jobs:
"Therefore, the unemployment rate should have declined fractionally. Instead, the unemployment rate (U3) rose from 8.2% in June to 8.3% in July".
"In case you missed the point, new jobs, a net figure, rose and so did the unemployment rate!"
"Moreover, the alternative, but much less reported, jobs report from the Household Survey found that the economy lost 195,000 jobs in July".
"The government that lies to you about weapons of mass destruction in Iraq, about Iraq’s al Qaeda connections, about the Taliban in Afghanistan, about Osama bin Laden, about Libya and Gadhafi, about Iranian nukes, about Syria, about Pakistan, about Yemen and Somalia, about Bradley Manning, about Julian Assange and Wikileaks, indeed about everything under the sun, also lies to you about jobs, unemployment, economic recovery, GDP growth, the “terrorist threat,” everything. Try to find anything that the government has said over the past 6 presidential terms that is not a lie" - Paul Craig Roberts.
It seems there is a new Pinocchio in Washington. Perhaps there may be a change to Pinocchio #7 in January. Perhaps not..
Retired Monk - "Ideology is a disease"