The "job creation" numbers are from a seperate survey, and that did go up 117,000I love how these idiots massage the UE numbers.
There were 139,296,000 people working in July, compared to 139,334,000 the month before, or a drop of 38,000. That's not job creation, unless you are a government bureaucrat with bad math skills
Because it did. Both Employment and Unemployment, from the household survey, went down.So how do these morons have the nerve to report that unemployment dropped?
Not quite. First, discouraged are those who want a job, are available to work, looked for a job in the last 12 months but not the last 4 weeks and the reason for not looking is that they don't believe they would find any. And it's not that "they simply stop counting," discouraged....they never count discouraged. The survey is conducted, the numbers are calculated, there's no choice to count or not count.Using a magic wand, and a trusty eraser- they simply stop counting discouraged workers, or those who were unemployed but not out looking for work.
The U-4 measure includes the discouraged. It stayed the same from June to July. And again, these are household survey numbers and have nothing to do with job creation. Oh, and the broader measures of U-5 and U-6 dropped.So the drop in the unemployment rate is pure bunkstick all those people back in the workforce and you wipe out the job creation and the drop in unemployment in less than a second.
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