Posted on 01/07/2024 8:19:36 AM PST by Kaiser8408a
The closer we look at the December jobs report, the worse it gets. Its like the lights are on, but nobody is home.
A closer look at the numbers from the Bureau of Labor Statistics shows that the government quietly erased 439,000 jobs through November 2023.
That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.
Since the government wiped out 439,000 jobs after the fact, the total percentage of jobs created by the government last year is even higher.
But just in December, the civilian labor force shrunk by 636,000 jobs.
Increased government hiring has been driving the jobs numbers higher. This is NOT good since government doesn’t produce anything other than regulations and red tape.
Again, the government sector in December ranked high in job creation.
The health care and social assistance sector, which relies heavily on money from government spending, created about 59,000 jobs.
The economy lost 1.5 million full-time workers since June of last year, while adding 796,000 part-time workers.
That means more workers are holding down multiple jobs to pay for a higher cost of living due to a cumulative 17.4% inflation rate under this White House.
That’s not a good sign.
(Excerpt) Read more at confoundedinterest.net ...
Do the Feds lie much....about anything? How about everything, 24/7, day in, day out. It would make Goebbels blush.
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WUT! Someone cherry picking numbers?! No way huh?
This coming fall the government will declare the inflation and unemployment rates to both be 0%.
Then around the end of January 2025 the numbers will be revised.
I’ve been reading a lot of “why does everyone think the economy is so bad when all these numbers are so good” articles. They all point to the jobs numbers as if the job market is just roaring. They never seem to mention the adjustments.
Same for inflation. They point to inflation numbers being lower. But they can’t seem to realize that if it was 8% last quarter, and only 4% this quarter, it is still getting worse, just not getting worse as fast as it was.
Then again, maybe they do realize, but also, since they almost always mention it is an election year, they are really just trying to gaslight.
I just read one where they pointed to things like housing going up means people’s wealth is going up. Idiots, the money in my house doesn’t help me buy eggs. And my housing increase just covers the inflation increase.
Even that is a lie. The cost of everything from housing, groceries, fast food, restaurants, etc., etc. has gone up far more than 17.4% under this administration. This is just another example of where you can believe your own eyes or the lies of government statisticians.
Overstated by Half a million jobs. I believe the stock market takes a good look at those numbers.
*Cuts through weeds with machete, finds:*
1.4 jobs available for every person looking for employment.
“The cost of everything from housing, groceries, fast food, restaurants, etc., etc. has gone up far more than 17.4% under this administration.”
So what’s the “correct” amount that “everything” has ‘gone up?
And all the government jobs are DEI.
Absolutely.
And, in addition, since the assessed value of your house goes up, the property tax goes up. Now you have even less money to buy eggs. But the government sees more revenue, so that's nice for them.
11 to 12% a year for the past 3 years. That comes to nearly twice the 17.4% stated in this article.
Categories such as energy, used vehicles, transportation services, housing, and other categories are no longer being counted in a straight forward way. Those categories all went up far more than 17.4%. If the Consumer Price Index was being computed the same way that it was in the late 1970s, the index would now be growing at a rate of 11 to 12 percent per year.
“since the assessed value of your house goes up, the property tax goes up”
Oh boy, there was a near riot on Facebook and other neighborhood pages about the 20-30% property tax increase this year. Unfortunately, it was only on the web, and not in the halls of the shiny new city hall.
“the money in my house doesn’t help me buy eggs.”
Eggs have gone from $9 to below $3 here.
“And, in addition, since the assessed value of your house goes up, the property tax goes up. Now you have even less money to buy eggs. But the government sees more revenue, so that’s nice for them.”
That happens on a two-year lag, hasn’t hit just yet. But that’s nothing new, house goes up a $100k, taxes go up $400-800, I’m fine with that, been that way all my adult life. I like it much less when my house value crashes $100k and two years later my taxes go down $400, big deal.
“1.4 jobs available for every person looking for employment.”
If it is anything like my company, 90% of those “available” jobs are never filled. I know my management line gets all these “open” positions posted so that when the inevitable layoffs happen we can reduce staff by removing the postings. Even with that, my team has six people when five years ago we had 12, and are now covering about triple the clients. But that appears to be the same everywhere.
“Eggs have gone from $9 to below $3 here.”
Around here they were 89 cents a dozen, went up to the $5 range, and are now at just below $2. To me they are double, but they were quintupled. The news folks point to the “40% decrease” as a good thing. I look at the doubling as a bad thing.
The only thing around here that has leveled off to near historical prices is gas. Pre-covid we were floating around $2. We went up above $5, and are now in the $2.30-$2.60 range.
And real wages are up. All this “expensive” talk is a red herring. The big inflation period is over, inflation at this time is below average and guess what, it isn’t going to zero. If it does, THAT would be an actual problem.
People love to gripe and those who aren’t prospering always will cry foul, but that doesn’t change reality. When the cycle is strong people live and spend as if it will never change. Then when the cycle does what it has always does they are in a panic because they didn’t prepare for what always obviously happens. Been through these cycles since the ‘70’s and it’s always the same.
Like my old real estate broker used to say, “The only real problem you have is you don’t make enough money, so get to work.” So I did, with side hustles.
Making up numbers is meaningless.
Too many boosters?
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