Saturday, October 6, 2012

Dept. of Labor and Bureau of Labor Statistics or: Lies, Damn Lies, and Statistics

We at Free Republic have known for a long time that the Bureau of Labor staistics is notorious for using accounting gimmicks like the birth death adjustment to "massage" their economic statistics in a way that benefits President Obama and the Democratic party. Anyone who doesn't think this is the case should take a look at the July, 2012 Birth Death adjustment and compare that to the July 2011 Birth Death adjustment. In July, 2012, the BLS "estimated" that 52,000 jobs were created based on their "understanding" of where we were in the "business cycle". That's right, they just added 52,000 jobs to their statistical data based on nothing more than a guesstimation.


OK, so what about the July, 2011 Birth Death adjustment? They only added 5,000 jobs in July of 2011. So, based on their "best guess", they felt it was appropriate to increase that number by 1,000% a year later because the economy is obviously growing 1,000% faster this year I guess (that's sarcasm btw). The fact that we are only a few months away from the Presidential election is completely coincidental I'm sure.


It gets even better, they added some 377,000 "seasonal jobs" to the non-seasonal jobs numbers which were less than stellar. This was the largest July seasonal adjustment in BLS history.


What you should take way from this is that the BLS derives its data from highly subjective estimations and then uses its subjective analysis to portray a rosy economic picture for America, a picture that doesn't make sense to most Americans who live in the real world, not the world imagined by government statisticians.


There's another very important aspect of this to consider: the head of the Department of Labor, the Secretary of Labor, is a Presidential appointee and a life long Democrat. Her name is Hilda Solis and she was the US representative representing East LA, California for 8 years. She's a life long liberal California Democrat that answers directly to Barack Obama and she will lose her job if Mitt Romney beats Barack Obama. Obama has her on speed dial, I guarantee it.


Do you really think she's interested in painting an accurate economic picture here or is she probably more interested in making her boss, Barack Obama, look good so she can keep her awesome job and maybe even move up in the ranks during a second term? What happens to you when you make your boss look bad by the way?


The bottom line is this: the Department of Labor is a political organization, not an economic organization. If you think this political organization isn't working overtime to benefit Barack Obama and the Democratic party in any and every way possible, you probably believe that Barack Obama personally flew into Pakistan and rappelled out of a helicopter and then shot Osama bin Laden.


as Mark Twain once famously stated: there are three kinds of lies: lies, damn lies, and statistics. Think about it.



Originally posted on Saturday October 06, 03:38:13 GMT-0400 2012 by RC one @ Free Republic

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