Posted on 06/05/2024 11:13:23 AM PDT by JV3MRC
Remember how President Joe Biden’s henchmen in the media peppered the American people with around-the-clock propaganda about how star-spangled awesome incredible the Biden economy supposedly was because of jobs growth? A new report just blew apart that house of cards.
Bloomberg Opinion executive editor Robert Burgess released the findings of a new Bloomberg Economics report that threw a big wrench into the so-called strength of the jobs market leftist media outlets repeatedly laud to the public. “Bloomberg Eco out with a jarring report, saying monthly nonfarm payroll prints likely overstated job growth last year by 730,000,” Burgess wrote. The report Burgess cited, which even went as far as to project that hiring maybe even fell “below zero in October,” specifically attributed the enormous downward revision in job growth to “a surge in business closures, even as new business formation slowed sharply in the second half of the year — factors the payroll prints don’t take into account.”
But there’s more. Bloomberg projected that the printed level of nonfarm-payrolls for 2024 by the end of the year “likely will overstate true employment by at least one million — with more than half due to the [Bureau of Labor Statistics’] model for estimating business formations and closures.”
(Excerpt) Read more at newsbusters.org ...
“By the end of 2024, nonfarm-payrolls likely will overstate true employment by at least one million”
Who do you believe? Reality or FJB & Co.?
Every single report that comes out of the FJB mis-administration is nothing but male bovine droppings.
Leftists always say that, the winner of an election depends on who does the counting.
It’s the same with government statistics being done by leftists: the numbers depend upon who’s doing the counting and statistics. Biden and democrats will lie about the numbers. and the number of jobs created under Biden, are either very low or none or negative.
Whatever good jobs news occurred during Biden’s term, occurred in the first few months, when Trump’s economy was busy recovering the jobs lost during the pandemic. After the pandemic numbers got corrected, everything in the economy was downhill, including the number of jobs.
This is why I have long since ignored any numbers generated by the government bureaucracy, unless they work against interest. IOW only trust numbers that make themselves look bad. Doesn’t happen often.
Senator Harry Reid said when asked about the lie that Mit Romney failed to pay 10 million dollars in taxes in an October surprise stated “we won didn’t we?”
Yep, FedZilla only has one mission in its miserable life — to get even bigger. They lie about everything to accomplish that goal.
Exhibit 1: The nonstop persecution of President Trump.
The methodology used to calculate the jobs report was changed the end of last year. It was announced and widely known, but the Biden cheerleaders were selectively using the known discontinuous figures.
So wait?... They were just lying about all those supposed jobs?... You don’t say? And to think they always claim to be so forthcoming and transparent about everything. Just ask that toilet-brush headed spokes idiot. She’ll say stuff like “we’ve been perfectly clear” and “the president has been very clear”.
Pft! Yeah, I crack myself up sometimes.
Most jobs have gone to illegals for 2 years on.
Read the comments at the site. The democrats are fooling no one.
May jobs report expected to show more signs of cooling labor market
https://finance.yahoo.com/news/may-jobs-report-expected-to-show-more-signs-of-cooling-labor-market-164923667.html
Comments:
Wolf
3 minutes ago
They should do these report’s on a toilet paper..then it would be of good use
1 minute ago
You obviously haven’t seen the price of toilet paper.
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