The US Jobs Market Is Much Worse Than The Official Data Suggest: The Full Story

"Following Friday's disappointing payrolls report, yesterday we showed another even more troubling fact about the state of the US labor market: since 2008, over 93% of the total 6.7 million net jobs 'created' in the past decade, have been statistical, existing simply inside an excel model somewhere in the US Department of Labor, as a result of the BLS' favorite fudge factor, the Birth/Death adjustment. Unfortunately, that's just the tip of the iceberg for why the US labor market 'recovery' is perhaps the biggest 'fake news' of the US economic narrative"