Because they never existed:
The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time.
I like that; “during the recession”, as if we’re actually out of it.
Anyways…
What happened here is that bureaucrats, looking through their rose-colored glasses, figured that a certain number of jobs are being created. How do they figure this? Best I can figure is that they guess – whether its a guess they work out on paper or just pull out of their rear end, I don’t know. Anyways, they say that – even in the midst of the worst economy since the Depression – people are just out there creating jobs right, left and center. Meaning that the employment picture is not as bad as it might look if you merely pay attention to that trivial fact of massive job cuts all across the economy. Eventually, though, they have to square the guess with reality – and thus, we’re going to see the jobs shrink by 824,000.
This won’t change the unemployment rate – that rate has its own series of guesses which ultimately prove laughably false. But it does show that nothing good was happening in 2009. As I’ve said, all the “recovery” has been is smoke and mirrors. And I’m holding firm to my contention that the economy continues to contract – that we are getting net poorer by the day here in the United States. I base this on the simple fact that there is no incentive to create wealth right now, even if the prospect is there (which its mostly not), and when you factor in growing population, you get a net loss, even if the dollar value of the economy doesn’t shrink (though I think that is happening, too).
We can get out of this – but only if we lay off half the government, cut taxes, cease borrowing and remove those regulations which make it hard to make, mine and grow things. Until we do that, we’ll just be digging ourselves a deeper hole.
HAT TIP: Gay Patriot
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