Friday, December 7, 2012

Mike Gimbel on today's BLS report analysis

This morning's Bureau of Labor Statistics (BLS) report was purportedly showing a big drop in unemployment from 7.9% to 7.7%.
The REAL unemployment rate, however, remained virtually unchanged in November, 2012 at 16.63% from 16.62% in October, 2012.
the REAL unemployment + underemployment rate improved to 21.39% in November, 2012 from 21.47% in October, 2012.
Looking further inside the BLS report:
  1. The Civilian Labor Force actually SHRUNK in November, 2012 by 350,000, as reported by the BLS report. The civilian labor actually INCREASES, on average, by more than 100,000 every month.
  2. The number of employed actually DECREASED by 122,000 in November!!!
  3. The number of those listed in NOT IN THE LABOR FORCE increased in November by 542,000.
The above three items are BAD!!!! In other words, the supposed labor situation, as reported by BLS, was not as rosy as being reported in the media. At best, the November BLS report was little changed from October, 2012.
This "recovery", such as it is, continues to be extremely weak and the length of the recovery means that the next "bust" will be on top of the current "bust", not at a point of economic "boom". This continues to be a "jobless recovery".
--Mike Gimbel
The stupidities and absurdities by which mathematicians have rather excused than explained their mode of procedure, which remarkably enough always lead to correct results, exceed the worst and real fantasies of the Hegelian philosophy of nature.
                                                                  --Frederick Engels
Good physics is the study of three-dimensional matter in motion. Good mathematics involves unlimited dimensions, from utilization of just one dimension, two dimensions, four dimensions or as many dimensions as can be imagined. This is bad physics, however. Matter has only three dimensions: Length, Width & Height.
Physics has been in crisis for a century due to the intrusion of the field of mathematics. String Theory is the ultimate result of this nonsensical mathematical intrusion into physics.
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