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Like the Consumer Price Index (CPI) and the Gross Domestic Product (GDP), the unemployment rate is fed numbers that intentionally misrepresent what is being measured. The unemployment rate does not match anything that is happening in the real world. For an accurate picture of what is going on in the labor market, it is best to use raw numbers. SlyRyder's September Labor Market Update is based on Nine Raw Naked Numbers that only need to be added and subtracted in order for voters, community service providers and other concerned citizens to calculate an accurate and fair assessment of the labor market.

Although the Nine Raw Naked Numbers presented in this labor market update are collected by the Bureau of Labor Statistics (BLS), politicians prohibit our public servants at BLS from letting these naked numbers appear together on the same page. The last thing any politician you voted for wants is you mingling with a bunch of naked numbers that they can't dress up. They don't want voters running around loose with real numbers that represent real people. Politicians don't want pesky citizens asking savvy questions about the real labor market. Use the numbers to hold the policy wonks and politicians accountable.

Here are the raw numbers. Warning: some of the numbers are big and ugly.

Unemployed: 14,900,000.

Between January and June 2010, the US economy added 817,000 nonfarm payroll jobs.

If we add 817,000 jobs every six months, then how long will it take to employ 14.9 million Americans?

How long?

The next time you hear a politician complaining about all the sorry, pitiful, lazy 99er's who have collected nearly two years of unemployment checks, please feel free to email the whinny politician this question: If the economy adds two million jobs a year, and we have 15 million unemployed Americans, then how many sorry, pitiful, lazy 99er's will the politician be complaining about in three years? Four years?

Can the US economy add 14.9 million jobs in the next 12 months? How about 10 million jobs? What is the most jobs ever added to the US economy in a single year?

Good questions.

In order to shine some ever-lovin' light on the subject of job creation, we need only pull a few more numbers from the BLS historical labor market data pool.

Between January 1990 and December 1999, the US economy added 21.3 million jobs. On average, the economy added 2.1 million jobs each year for the decacde. In 1994, the economy netted a record 3.8 million jobs. At the end of the decade, there were 130.5 million persons employed in nonfarm payroll jobs.

Between January 2000 and December 2003, the US economy lost about 250,000 jobs. As of December 2003, there were 130.2 million persons employed in nonfarm payroll jobs.

And then, someone decided to blow a bubble.

The next four years, between January 2004 and December 2007, the US economy added 7.7 million jobs. Total employed at the end of 2007: 137.9 million. Nice bubble.

Guess what happened the next two years?

During 2008, the economy lost 3.6 million jobs. In 2009, we lost another 4.7 million jobs. So, in just two years, the economy shredded 8.3 million jobs. The bubble burst.

Can anyone create 2 million jobs and put them inside a burst-proof bubble? Can Morgan Stanley do it? Fannie Mae? AIG? Anyone?

Total employed December 1999: 130.5 million.

Total employed June 2010: 130.4 million.

Today, there are about as many Americans employed as were employed in December 1999.

Unfortunately, today's labor market is much worse than 14,900,000 unemployed.

Discouraged no longer actively looking for work: 2,400,000.

Part-time workers looking for full-time work: 8,900,000.

In May of 2008, we had 5.2 million workers classified as working part time for economic reasons. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. Today, 8.9 million are employed part time for economic reasons. The trend is troubling: lose your full-time $20 an hour job and compete with millions of Americans for a $10 an hour part-time job.

There are now 23.8 million Americans looking for a full-time job.

As previously stated, the economy has added 817,000 nonfarm payroll jobs during the first six months of 2010.

If 23 million plus Americans are still unemployed/underemployed at the end of the year, does it really matter whether Goldman Sachs labels the disaster a slow recovery, a double-dip recession, or a temporary depression?

If 22 million Americans are still in dire straits two years from now, then what? One long cheese line? Will Goldman Sachs even allow cheese lines?

One final question: why is this guy still employed?

Source for labor market data: Bureau of Labor Statistics.

That's it for now. See you soon with the latest News & Updates.

Peace,

SlyRyder