Posted on 02/03/2023 6:39:30 AM PST by Kaiser8408a
Strange days indeed!
Today’s jobs report from the Bureau of Labor Statists (BLS) was stunning. 517k jobs added! Very strange since the ADP jobs added report on Febuary 1st was only 106k. THAT is a huge discrepancy (probably a seasonal adjustment in the BLS reporting).
Average hourly earnings rose to 4.4% YoY. Too bad headline inflation is still roaring at 6.5%. So, the inflation tax is still overwhelming wage growth.
The spread between the January jobs report (BLS) and the ADP jobs added report (ADP) is similar to the infamous jobs report that the Philly Fed “corrected” (orange circle).
Here is the summary of the BLS numbers.
(Excerpt) Read more at confoundedinterest.net ...
BLS
* Bull
* Lobbying
* “Statistics”
Awesome news! This will give the “Biden 2024”
team a huge boost making it more difficult to usher him out and bring in a coherent replacement….exactly what we want.
ADP doesn’t get paid if they lie.
Fedzilla - not so much.
Seasonal adjustments are out of whack. I haven’t looked yet, but did they fix the payroll vs home survey disparity? It was something like 2 million jobs difference between the two.
Lately these reports sound more like Chinese numbers. Can’t believe any of their crap.
I call BS...
My company laid off 3-4% in January...
I call absolutely BS 500k Jobs created...
Cooked Books
Just in time for the State of the Union circle jerk.
517k jobs. Wow. Is there anything Joe can’t do? Whatta guy!!!
ADP is a payroll processor. It is used by some businesses, but not others. Large companies typically handle their own payrolls. Very small companies may have their bookkeeper write checks.
Moreover, many positions, rightly or wrongly, are not W2 positions but 1099 positions.
UNEXPECTEDLY!
I have lost all faith in the BLS numbers under Biden. <<<
you mean that after manipulating a Presidential and congressional election that the swamp wouldnt dare mess with the BLS numbers? .....in a Banana Republic the WHOLE banana rots.. not just part of it..
Republicans need to be insisting on open audits and computational transparency. And the raw data needs to be checked.
Lies, and more lies. Returning workers from lockdown states. More fast food. How many jobs were lost in the fire that killed 100,000 chickens?
Where’d the Eggs Go? Multiple Studies Show Egg Yolk Antibodies Block the Binding of Multiple SARS-CoV-2 (Covid-19) Spike Protein Variants in BOMBSHELL REPORT https://thedcpatriot.com/whered-the-eggs-go-multiple-studies-show-egg-yolk-antibodies-block-the-binding-of-multiple-sars-cov-2-covid-19-spike-protein-variants-in-bombshell-report/
We can’t trust anything the government says. The BLS has already been caught lying before the election. They inflated employment numbers by over a million.
Discernment.
DISCERNMENT.
YoY!
I'm not sure exactly how ADP comes up with their estimate but I would assume it uses part of its data as a sample and then projects to the entire population. I would assume their statisticians would take care to assure the representativeness of their sample. At a basic level their methodology should be the same that the BLS uses. It is reasonable that their estimates would differ some given they use different samples but over 400% different? Way too much to be statistical noise it seems.
Just plain lying.
Just plain lying.
Neither crude oil or natural gas is confirming the economy is doing well.
Correct. Markets do not lie.
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