The unemployment rate is falling, and that means they’re lying.

The Bureau of Labor Statistics reported last month that the unemployment rate was 5.3%.  But this is going to leave a mark:

U.S. job cuts soared to a nearly four-year high in July…Employers based in the United States announced 105,696 layoffs last month, the first time monthly reductions exceeded 100,000 since September 2011. A year ago, U.S. companies announced plans to cut 46,887 jobs.

***

July’s reductions bring the year-to-date total to 393,368 cuts, a 34 percent increase from the period last year.

When the BLS releases the unemployment rate for July, I expect them to say that the unemployment rate fell again.  They’re not know as the Bureau of Lying Statistics for nothing.

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Categories: Bad News Everyone!, Depression, Economic Schizophrenia, Government Statistics, Liars, Unemployment

Tags: , , , ,

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