On the surface, the January jobs numbers appear to be "not bad."  There were 151,000 jobs created, and the official unemployment rate dropped below 5%. But the story inside the numbers is really, really awful.  The Bureau of Labor Statistics calculates job creation and loss using two different measurements: the Current Population Survey and "Establishment" data from the Current Employment Statistics.  Usually, the two measurements are roughly the same.  But how do you explain this, BLS? Consider these BLS numbers based on household data. In January, there were 25,328,000 "foreign born" workers employed, a one-month drop of 98,000. In January, there were 123,710,000 "native born" men and women employed, a one-month drop of 567,000. Analysts note that there are several ways to count jobs created and lost but the losses shown among men and women, foreign born and immigrants, is significant, said a...(Read Full Post)