BTW, that 164,000 headline number is a COMPLETE JOKE.
Why?
Because of the creative math the Fed used on the Establishment Survey called the 'Birth/Death Model'. This latest attempt by the government to distort the numbers to make them look better is based on the fact that the BLS does not know how many companies were born and how many died. So they guess. They use some sort of nonsensical mathematical model...but the bottom line is they guess.
And last month...they guessed to the tune of 260 thousand jobs. So that means they guesses that there were 260,000 more jobs created by new businesses then there were jobs lost to dying businesses. And that pathetic guess is added to the number.
CES Net Birth/Death Model
Let me ask liberals on this forum this question:
Had the unemployment rate gone UP to say....6 percent.....would ya'll still be on here saying its a useless measure and that it doesn't indicate anything?
Me thinks not.
I used to accept U3 as an appropriate measure of unemployment
But Republicans have convinced me that it is a made up number by corrupt Deep Staters
The REAL number of unemployed is 172 million or 52 percent.
Don't let pinqy see this...he will freak.
I, like you, used to accept the U-3 as fact.
But now, like you, I realize that it is a joke. Set up to make the unemployment situation look much better than it really is. Easier to keep the masses quiet that way.