This Weeks Smoke And Mirrors

The new jobless numbers are in. Oh goody. Let take a closer look.......

http://www.examiner.com/x-33202-Newark-Unemployment-Examiner~y2010m5d7-Unemployment-claims-fall-for-third-straight-week

initial claims were 444,000 last week . That was considered a positive because it was 7,000 less then the previous week. So overall every week the economy is losing over 400,000 jobs . 400,000 X 4 weeks = 1.6 million jobs lost every month.

http://www.nytimes.com/2010/05/08/business/economy/08jobs.html

Here the economy added 260,000 for the month of April. So you take the 1,600,000 jobs being lost and you subtract the 260,000 jobs being added and you are still negative 1,340,000 jobs every month. And they portray this as good news. Yippee......

"Despite the increase in jobs (what increase?), the unemployment rate rose (of course it did), mostly because the government said 195,000 workers re-entered the labor force after giving up on job hunts (How does the government know this?)during the recession. When jobless people do not look for work, they are not counted in the official unemployment rate (Wrong). The only people counted in the unemployment numbers are those collecting benefits. The government has no idea who started to look and who has given up. That is nonsense.