Posted on 08/04/2023 6:57:49 AM PDT by Kaiser8408a
The Federal Reserve is watching July’s jobs report carefully. According to the Bureau of Labor Statistics (BLS), the US economy added 187k jobs in July, less than the expected 200k.
US average hourly earnings continued at 4.4% year-over-year (YoY). However, the last core inflation reading was 4.8% YoY, so real wages continue to decline.
Rent CPI for June was 7.8% YoY.
Here is the rest of the story.
In keeping in with Biden admin’s penchant of constantly fabricating data, both May and June numbers were revised sharply lower of course:
May revised down by 25,000, from +306,000 to +281,000 June was revised down by 24,000, from +209,000 to +185,000. To show just how ridiculous the data manipulation is, consider this chart – every monthly payrolls report in 2023 has been revised lower.
And on the disappointing jobs report and massive revisions of past data (the REAL inflation plaguing the nation is The Federal goverment lying about data), the US Treasury 2 year yield dropped like Biden on a flight of stairs.
Here are the faces of Washington DC. Lies, corruption, government for sale to highest bidder, cynacism, oppression, fear mongering, etc. This is Biden’s legacy.
(Excerpt) Read more at confoundedinterest.net ...
“To show just how ridiculous the data manipulation is, consider this chart – every monthly payrolls report in 2023 has been revised lower”
Yes, we are lied to on an industrial scale. Same happened under Obama, revised down every month when people weren’t looking and after the media told everybody how great the recovery was. Yet, after all of the government lying we are supposed to believe in government institutions and clean elections......
Figures lie, and liars figure.
Who didn't see this coming, raise your hand..................
The Federal agencies are TOTALLY corrupt.
(Yes, we are lied to on an industrial scale. Same happened under Obama)
Yep
Rent is increasing because landlords borrow money to buy their buildings. These loans usually have terms less than 5 years, and may reset annually. So after 2 years of rate hikes landlords have to increase rent to pay the 7 percent on their mortgage instead of 4%. This is so complicated, the Fed doesn’t understand it unfortunately. Real hard stuff.
A sidebar observation here ..... Wages haven’t significantly improved for the last 25 (+ -) years. As the cost of living spikes and spirals up daily, I’m looking at jobs with the same salary range from 1999. Nobody talks about that.
Then there’s the cost to service the public debt......
Companies that need skilled workers are begging for help no takers the market is flooded with unskilled people.
Biden’s no borders is bringing in other countries trash people a bunch of parasites that have a name that goes on a vote sheet.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.