Posted on 03/29/2024 8:43:07 AM PDT by Kaiser8408a
Well, ain’t this a kick in the head!
The Philadelphia Fed says the US Payrolls overstated by at least 800,000. While Biden was in New York City with the other former Presidents (Clinton and Obama) raising money for Biden’s reelection bid, Trump attended a wake for a fallen police officer.
The jobs market is much worse than Biden and his mouthpieces claim.
The first red flags emerged in the summer of 2022: that’s when the Biden Labor Department started well and truly rigging the labor market data.
Something has snapped in the labor market: that’s when a staggering discrepancy emerged between the number of Payrolls (as measured by the BLS’ Establishment Survey, a far more crude and imprecise, yet much more market-moving data series), and the number of actual Employed Workers (as measured by the BLS’ far more accurate Household Survey). As we showed at the time, after the two series had tracked each other tick for tick, a gap opened in March 2022 which quickly grew to 1.5 million jobs in just 3 months…
… and has since exploded to a whopping gap of 5 million “jobs” that apparently do not exist.
And while some of this discrepancy could be explained with the record surge in multiple jobholders, which increased by 1 million since March 2022 to an all time high of 8.6 million at the end of 2023 (as a reminder, the Establishment Survey counts 1 worker have 2 or 3 (or more) multiple jobs as, well, 2 or 3 (or more) separate jobs, even if it is just one worker trying to make ends meet under the roaring inflation of Bidenomics), most of the gap remained unexplained.
(Excerpt) Read more at confoundedinterest.net ...
bttt
So we pay tax for fake Job statistics as well......
What could possibly go wrong?
Jobs have “increased” under Ziao Bi Deng since people now need 2 or 3 to pay the bills.
(All New Jobs Over Past Year Were Part-time Jobs!)
That is a pretty profound statement hat is obviously not true.
Assume everything out of our so-called government is a lie.
Believe nothing and go from there.
If it tells a truth, it was a mistake.
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