Posted on 06/13/2024 6:31:23 AM PDT by Kaiser8408a
Joe Biden is a dishonest politician, so it is no wonder that he ignores actual data. Like claiming that crime is down under his leadership, when it is actually large cities like New York and Los Angeles not reporting their crime data to the FBI.
Take the May jobs numbers. The BLS reports that 272k jobs were added. However, the more accurate Household Survery reported a loss of -408k jobs in May.
While the Establishment Survey did indeed report that 272K “jobs” were added, this number also included multiple job holders; stripping those out, we get that the actual number of “employed” workers plunged by -408K.
On the jobless claims side, the number of Americans applying for jobless benefits for the first time surged last week to 242k (up from 229k and well above the 225k exp). That is the highest since August 2023…
Source: Bloomberg
On an NSA basis, claims exploded higher.
The last three weeks have seen the largest surge in claims since January…
Source: Bloomberg
Notably this surge is very VERY similar to what we saw last year (but not the prior few years, so not a ‘seasonal’ pattern per se)…
Source: Bloomberg
The surge in NSA claims was driven by California…
California leads the nation in initial jobless claims, thanks to Newsom’s $20 per hour minimum wage law for fast food restaurants. This one’s gonna hurt Californians for a long, long time.
Biden and Newsom WISH they were Atlas.
(Excerpt) Read more at confoundedinterest.net ...
Sudden and unexpected
I really don’t believe any of the Bidenskyyyyyyyyyyyy “good news” it releases to cover Joe Pedo’s butt for the election.
Nothing but lies, half truths and distortions come from the Biden Stooges..................
“this number also included multiple job holders; stripping those out, we get that the actual number of ‘employed’ workers “
Because the standard is JOBS, not workers.
Time to wake up Mr President.
You are dreaming you the most popular president in the history of America,again..
If you lose by a negative number, is that actually a gain? (Math nerd talking.)
Just another Democrat’s success story.
At under 4% unemployment the economy is overheated and inflation is pushed higher. Under 4% means people who are going to get fired anyway for incompetence/drugs/laziness etc. are being hired because they are all that’s available.
It’s going to take higher unemployment to lower inflation from here.
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