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The White House is trying to prepare Americans for a 'strange' jobs report
yahoo ^
| Feb 1, 2022
| Ben Werschkul
Posted on 02/02/2022 4:49:48 AM PST by where's_the_Outrage?
Ahead of Friday's jobs report, the White House is lowering expectations about a number they say could be hard hit by both the Omicron variant and a quirk of how the data is gathered each month.
"We just wanted to prepare people to understand...what it is an assessment of and as a result, the month’s jobs report may show job losses in large part because workers were out sick from Omicron," Press Secretary Jen Psaki said Monday.
Experts have warned of less than stellar news for weeks. On Jan. 20, Moody’s Analytics' Adam Kamins joined Yahoo Finance and noted that some strong 2021 jobs numbers "don't reflect Omicron yet.” The variant could be a setback for jobs in January and February, he added.
The White House is concerned that Friday’s report could be especially eye-popping because of how the jobs data is gathered. The “January” number being released on Friday is actually the result of a survey taken for a week around Jan. 12 — instead of an accounting of the entire month.
(Excerpt) Read more at msn.com ...
TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: covid; economy; jobs; jobsreport
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But But But, Biden had a plan to deal with Covid:
To: where's_the_Outrage?
i thought that these figures were not released ahead of time, that all got them at the same time.
2
posted on
02/02/2022 4:54:01 AM PST
by
avital2
To: where's_the_Outrage?
"...The White House is concerned that Friday’s report could be especially eye-popping because of how the jobs data is gathered..."I am certain that they are (and have been) frantically trying to change "how jobs data is gathered".
3
posted on
02/02/2022 4:55:18 AM PST
by
rlmorel
(Nothing can foster principles of freedom more effectively than the imposition of tyranny.)
To: where's_the_Outrage?
“We are lying the best we can, but it’s really hard this time because there is so much to lie about. Please be understanding of our transparent mendacity. It’s for the children.”
4
posted on
02/02/2022 5:00:19 AM PST
by
ClearCase_guy
("If you see something, say something"? I see people dying from vaccines.)
To: where's_the_Outrage?
Ahead of Friday’s jobs report, the White House is lowering expectations about a number they say could be hard hit by both the Omicron variant and a quirk of how the data is gathered each month.
—
The problem is not the Omicron variant, it’s the Biden variant.
5
posted on
02/02/2022 5:01:44 AM PST
by
Flick Lives
(The CDC. Brought to you by Pfizer.)
To: where's_the_Outrage?
People being home sick are not on unemployment.
6
posted on
02/02/2022 5:02:42 AM PST
by
EBH
(Hold My Beer. 1776-2021 May God Save Us.)
To: rlmorel
I didn’t realize that when you’re out sick, you are considered unemployed for the purpose of the federal jobs report. That sounds kind of sketchy.
7
posted on
02/02/2022 5:05:24 AM PST
by
Sgt_Schultze
(When your business model depends on slave labor, you're always going to need more slaves)
To: where's_the_Outrage?
“...as a result, the month’s jobs report may show job losses in large part because workers were out sick from Omicron..”
Are they saying every time someone calls in sick they are automatically listed on the unemployment rolls?
What does being sick have to do with reported job losses?
8
posted on
02/02/2022 5:08:51 AM PST
by
CIB-173RDABN
(I am not an expert in anything, and my opinion is just that, an opinion. I may be wrong.)
To: Flick Lives
The problem is not the Omicron variant, it’s the Biden variant deviant.
To: Sgt_Schultze
I did not know that either.
I didn’t read the article, I confess, but...they have been trying vainly to trumpet employment numbers in the recent past, saying they have created more jobs than any administration in history. (No kidding-I really did hear the administration make that claim recently)
They have, I am pretty certain, some thing about people who have been out of work longer than a certain period of time are not counted towards the unemployment numbers, and these numbers won’t be able to leverage that, so they are looking for other means to explain the “strange” job numbers, such as COVID that is keeping people out of work.
Just guessing.
10
posted on
02/02/2022 5:17:37 AM PST
by
rlmorel
(Nothing can foster principles of freedom more effectively than the imposition of tyranny.)
To: where's_the_Outrage?
I wasn’t aware that missing a week of work because you are sick can be counted as losing your job.
11
posted on
02/02/2022 5:23:28 AM PST
by
Durbin
To: where's_the_Outrage?
Brought to you by Yahoo, the official sponsor of the next season of “Cheer!”
12
posted on
02/02/2022 5:25:20 AM PST
by
LS
("Castles made of sand, fall in the sea . . . eventually" (Hendrix) )
To: where's_the_Outrage?
For those who have been following closely, the economic data releases over the past several months have been almost impossible to reconcile from a Main Street perspective. Additionally, the scale of inflation is skewing everything that stems from dollar valuation.
CTH is certain the fourth quarter GDP statistic (+6.9%) is useless and was an outcome of several flawed metrics:
(1) the import data was misrepresented and not accurately deducted (supply chain issue);
(2) the value of building inventories was over calculated as an outcome of inflation; and
(3) the value of all economic activity was subsequently skewed because the economic outputs (goods and services) were recorded at higher prices.
It has been our estimation that Main Street economic activity was substantially less than the data discussed by financial pundits.
Our review also sees the employment situation on Main Street as considerably less optimistic than claimed. Bolstering that point, in a very weird and structured preview from the White House, spokesperson Jen Psaki made an odd statement today.
WATCH (14:35 prompted):
Psaki is prepositioning a narrative that employment data in January will be lower than expectations, perhaps considerably lower, as a result of “workers calling out sick” from COVID, ie. the omicron variant, during the time when employment polling was conducted. That is a very unusual proactive narrative.
Those talking points would not get into the briefing material if there wasn’t a person highly concerned in the economic circle to put them there. Quite frankly, this is a talking point the White House spokesperson would never have in their briefing book if there wasn’t an advanced notification of their need for it.
Someone knows something.
Given the nature of how heavily manipulated the government institutions are, there’s a strong likelihood the Bureau of Labor and Statistics have been surprised by their employment polling results. That internal tremor, a concern amid the political tribe, is then conveyed to someone, who then relays the warning to the White House economic team…. and that’s how Psaki gets the briefing material.
In the background of this unusually proactive economic and employment notation, the Atlanta FED recently released their forward-looking estimation [DATA HERE] of the first quarter GDP. Keeping in mind the official 4th quarter result was +6.9%, the Atlanta Fed is saying the first quarter of 2022 looks like 0.1%.
The economy of the United States doesn’t go, heck, cannot go, from 7% to ZERO in one quarter without some massive dynamic, like closing down the economy…..
Unless….
Unless, the 6.9% was manufactured horsepucky from the outset.
The economy doesn’t go from 6.9% growth in December to ZERO growth a few days later without something substantive happening in the background. My guess is the inventory buildup, cited by the Bureau of Economic Analysis in December, was the result of a massive drop in demand that took place in the three previous months.
The inventory and inflation driven inventory evaluation that helped inflate the metric of the Gross Domestic Product, was not the result of the supply chain coming back to normal. I will bet a donut the inventory buildup was specifically because demand collapsed.
My view of that situation is supported by the historic drop in productivity that was noted in the last half of 2021. The federal spending, and the federal subsidies for businesses and corporations to retain employees, ran past the period where payrolls would have naturally contracted due to the drop in demand.
If I am correct, the employment situation was artificially influenced, because interventionist COVID spending/bailouts allowed payrolls to be covered, and employees to remain on the payroll register, during a time when they should have been dropped if natural sales/profits were responsible for filling the payroll accounts of companies. This would explain the macro drop in productivity while macro employment was retained.
The natural outcome of that viewpoint is…. When the federal deposits into the private sector payroll accounts dry up, employers eventually drop employees.
That rather dramatic scenario is enough to trigger the BLS to freak out when they did the payroll polling.
Just a hunch… We’ll find out on Friday.
13
posted on
02/02/2022 5:30:59 AM PST
by
Bratch
To: where's_the_Outrage?
The Jao Bai-din administration can't even pretend that there are any "new jobs" that are actually jobs lost from illegally shutting down the economy for COVID-19
84.
The only jobs Jao Bai-din has created are:
-illegal alien coyote
-illegal alien mule
-carjacker
-fentanyl smuggler
-rioter
-Black Lives MatterTM charity scammer
-meth cooker
-meth dealer
To: CIB-173RDABN
Are they saying every time someone calls in sick they are automatically listed on the unemployment rolls? Most likely, the Jao Bai-din administration deceptively showed increases in November and December for temp employees hired to cover for regular employees sick with O M M O I R C O R N O I N C and now have to lie while explaining why all those numbers dropped off.
To: where's_the_Outrage?
#jobkillerjoe accelerating the crash
16
posted on
02/02/2022 5:50:54 AM PST
by
databoss
To: where's_the_Outrage?
“strange” = horrible. This is what happens when you have a supply chain crisis and every worker potentially getting a week ‘vacation’ when they get the sniffles.
17
posted on
02/02/2022 5:54:42 AM PST
by
backwoods-engineer
(HONK HONK, Clown World! Let the CONVOYS roll! gab.com/groups/59447)
To: EBH
Exactly. So the problems are even WORSE than they appear.
18
posted on
02/02/2022 5:55:38 AM PST
by
backwoods-engineer
(HONK HONK, Clown World! Let the CONVOYS roll! gab.com/groups/59447)
To: T.B. Yoits
You left off the classic Obama-era. “Shovel ready” job: grave digger.
19
posted on
02/02/2022 6:01:28 AM PST
by
Noumenon
(Black American flag time. KTF)
To: Noumenon
I did and I also forgot “Smash-and-grabber”.
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