Posted on 01/05/2024 6:03:06 AM PST by Eccl 10:2
The change in total nonfarm payroll employment for October was revised down by 45,000, from +150,000 to +105,000, and the change for November was revised down by 26,000, from +199,000 to +173,000. With these revisions, employment in October and November combined is 71,000 lower than previously reported.
(Excerpt) Read more at bls.gov ...
This happens every year during the holidays. It’s weird that Xidinskyyyyyyyy’s “experts” never realized that. Retailers have to hire more help during Christmas.
October was revised down by 45,000, from +150,000 to +105,000, and the change for November was revised down by 26,000, from +199,000 to +173,000. With these revisions, employment in October and November combined is 71,000 lower than previously reported.
Same stuff as when Obama was in. Fake numbers, then everyone says everything is ok. Real numbers come out later and its’ “Unexpected”.
These are phony stats. Many people have gone into early retirement and don’t appear as unemployed.
there has been significant downward revisions every month under zhao biden. How do they miss a number by 30% other than outright fraud??
Eliminate welfare and program EBT cards to work only on rice and beans, a complete protein.
Watch the obesity problem go away.
Homeless encampments are nationwide. The biggest culprits are governments. That is local governments. A national government won’t solve it unless the left gives them one.
A 70%, or more, REDUCTION in the number of "government employees" would go a long way toward reducing taxpayer burden, but the votes from those "government employees" are purchased via employment and benefits, so it will NEVER happen.
Since ALL media is controlled, a taxpayer revolt can't be communicated to the populace (the ones who actually PRODUCE things, or PROVIDE things, and get taxed up-the-ass to fund non-citizens, and inner-city tribal parasites).
Exactly. And this report will be revised downward next quarter. Same old game. Get the positive headlines out there, revise the data downward later while everyone has “moved on”. What a joke. No credibility.
Do the illegals who are put up in hotels across the country (at taxpayer expense) count as unemployed? Or are they classified as honored guests?
🤔
It’s all gamed because the attention span is minimal.
Total nonfarm payroll employment increased by 216,000 in December. Employment continued to trend up in government, health care, social assistance, and construction,while transportation and warehousing lost jobs.
Payroll employment rose by 2.7 million in 2023 (an average monthly gain of 225,000), less than the increase of 4.8 million in 2022 (an average monthly gain of 399,000). (See table B-1.)
Government employment increased by 52,000 in December. Employment continued to trendup in local government (+37,000) and federal government (+7,000). Government added anaverage of 56,000 jobs per month in 2023, more than double the average monthly gain of23,000 in 2022.
In December, health care added 38,000 jobs. Employment continued to trend up in ambulatory health care services (+19,000) and hospitals (+15,000). Job growth in health care averaged 55,000 per month in 2023, compared with the 2022 average monthly gain of 46,000.
Employment in social assistance rose by 21,000 in December, mostly in individual and family services (+17,000). Social assistance employment rose by an average of 22,000 per month in 2023, little different than the average increase of 19,000 per month in 2022.
In December, construction employment continued to trend up (+17,000). Employment in nonresidential building construction increased by 8,000. Construction added an average of 16,000 jobs per month in 2023, little different than the 2022 average monthly gain of 22,000.
Employment in transportation and warehousing declined by 23,000 in December. Couriers and messengers lost 32,000 jobs, while air transportation added 4,000 jobs. Since reaching a peak in October 2022, employment in transportation and warehousing has decreased by 100,000.
Employment in leisure and hospitality changed little in December (+40,000). The industry added an average of 39,000 jobs per month in 2023, less than half the average gain of 88,000 jobs per month in 2022. Employment in the industry is below its pre-pandemic February 2020 level by 163,000, or 1.0 percent.
Retail trade employment changed little in December (+17,000). Over the month,
employment increased in warehouse clubs, supercenters, and other general merchandise retailers (+14,000); building material and garden equipment and supplies dealers (+8,000); and automotive parts, accessories, and tire retailers (+4,000). These jobgains were partially offset by a job loss in department stores (-13,000). Retail trade employment has shown little change, on net, since recovering in early 2022 from pandemic-related losses.
In December, employment in professional and business services changed little (+13,000). Employment in professional, scientific, and technical services continued to trend up(+25,000); this industry added an average of 22,000 jobs per month in 2023, about half the average monthly gain of 41,000 in 2022. In December, employment in temporary help services continued its downward trend (-33,000) and has fallen by 346,000 since reaching a peak in March 2022. Overall, employment in professional and business services changed
little in 2023.
“These are phony stats. Many people have gone into early retirement and don’t appear as unemployed.”
Also they have trimmed down who they report as unemployed. People who haven’t worked in X months, (don’t recall the number) are no longer reported. People who are under employed or part time when they want to be full time, are not counted. There are a few other categories who have been eliminated since they started reporting in the previous century.
As a point of interest, economists say that when the legitimate number of unemployed reaches less than four percent then we are “overemployed.” This is because there’s a percentage of people who are, for various reasons, not employable. They are dangerously stupid or have personality defects that lead to loss of customers. Twice in my career a dangerously stupid person caused thousands of dollars in losses. One, a stock clerk, asked someone what the pipe going down the back of the stairs was for. It was the automatic fire system. When the sensor detects flame it sets off the alarm. Before anyone could stop him, he flicked his lighter under the sensor. It wasn’t a zone system. The entire store was flooded. The other in an aerospace facility. An employee looked at the pile of zirconium shavings from a machining process, read the sign, “Danger keep flame away,” and flicked his lighter to see if the stuff would burn. Yep. Had to evacuate a million square foot facility and rebuild part of the machine shop. Not to mention all the smoke damage. Both were too stupid and dangerous to employ, and, at the time, we had extremely low unemployment. Both had given ample warning of how stupid and dangerous they were, but management didn’t take action because they needed the help.
But, what about the unemployed illegals?????
Why aren’t they factored in??????
Any idea what the job participation rate was?? Or wage increase?
BTW: “Government employment increased by 52,000 in December.”
Guarantee that is where all the revisions are coming from. They are inflating the numbers via “gov’t employment” only to revise them downwards the following month
Good point. All of them are unemployed and they are looking for good management jobs.
Economy is strong. Wages are up. Unemployment is low. Stock Market is high. Interest rates are falling.
Unexpected?
*DRINK* ;)
I lost my job in November as a full time IT Project Manager. And now, with all my experience, and hundreds of PM jobs being posted, I can’t get a sniff despite working for a major IT services organization.
Government and low paying service sector jobs. Garbage stats.
Audit and investgate their statistics — as soon as they’ll let you do it properly.
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