The farce behind unemployment numbers

To understand unemployment, one must track the statistics over time. The BLS revised lower prior period employment gains and shifted the gains into December. The revisions are not published until the annual benchmark revision, on which no one follows or reports. Forget about wall street or Marketwatch reporting on this. As an example of the degree to which the BLS report is not believable, in the BLS data table the BLS shows 38,000 new construction jobs. This is impossible given the decline in both private and public construction spending. However, Challenger Grey - a leading outsource placement agency - publishes an annual job cut report in which it reports that there were 8,822 Decemb