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Historically, you cannot put faith in the numbers the Labor Dept. generates. You must wait one month after they come out to get the real numbers. In all cases, since the obumbler took office, the initial numbers are revised significantly. What the game is, is the admin. is hoping for not so bad news with the initial numbers. That initial announcement gets big play in the media. The revised numbers, a month later, don't get much publicity and are brushed off.
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As you noted hiroad, revisions and final tweeking always occur to previous months. And today's July report is no different. The horrible unemployment rate went up again for July.
And as alluded to, the May and June revisions actually make things worse. In May, now they say they added 10,000, but for June they lost 16,000, for a net loss, making things even worse.
So we are back up to 8.3% unemployment for July. So, lets go ahead and place extra taxes, burdens, and restrictions on the job-makers. Brilliant.
There are still 5.2 million people that have been out of work for more than 27 weeks, the report relates. |
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