9:05a ET Saturday, September 8, 2018
Dear Friend of GATA and Gold:
Yesterday's employment report from the U.S. Labor Department's Bureau of Labor Statistics was the opposite of what was presented by mainstream financial news organizations, Dave Kranzler of Investment Research Dynamics writes.
Analyzing the report, Kranzler discloses: "The 'civilian labor force' declined by 469,000 people in August from July. The number of 'employed' dropped 423,000. The 'not in labor force' increased by nearly 700,000.
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"With these facts in mind ('facts' at least as far as the BLS numbers contain any shards of credibility), how can the government claim that 201,000 'jobs were created' in August? How can CNBC say the 'economy created more jobs than expected'?
"Based on the numbers in the details of the BLS report, it looks like, between the decline in the number of people employed and the decline in those not counted as part of the labor force, the economy shed over a million jobs."
Kranzler's analysis is headlined "The Employment Report Has Become Orwellian in the Extreme" and it's posted at IRD here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.CPowell@GATA.org
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