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Whoa: Unemployment Has Been ‘Revised’ and the Numbers Are Not Good
Townhall ^ | 8/20/24 | Katie Pavlich

Posted on 08/20/2024 2:12:14 PM PDT by CFW

The Bureau of Labor Statistics has “revised” job growth numbers from the first quarter of 2024, showing up to a million jobs didn’t actually exist.

“US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates,” Bloomberg reports. “Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.”

(Excerpt) Read more at townhall.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; Politics/Elections
KEYWORDS: biden; bidendestroyseconomy; bloomberg; democratlies; fake; gaslighting; jobnumbers; r; unemployment
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Yeah, we knew this revision was coming up. The same type revision happened last year.

The Feds and the Biden administration has been bumping heads. The Biden administration puts out the rosy numbers and the Feds use those numbers in determining their actions. The Fed has been basing their actions on fake numbers. The result is going to be horrendous.

1 posted on 08/20/2024 2:12:14 PM PDT by CFW
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To: CFW

Typical for an Obama Administration.


2 posted on 08/20/2024 2:14:26 PM PDT by cnsmom
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To: CFW

What does this administration /media partners not lie about?


3 posted on 08/20/2024 2:16:39 PM PDT by TornadoAlley3 ( I'm Proud To Be An Okie From Muskogee)
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To: CFW

Gotta love Bidenomics.


4 posted on 08/20/2024 2:16:41 PM PDT by Brooklyn Attitude (DemoncRATS have always been the Jackass party, now they are also the Hamas party.)
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To: TornadoAlley3

“Unexpected.”


5 posted on 08/20/2024 2:18:45 PM PDT by oldplayer
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To: CFW

No worries, Joe and Kamunist won’t let anything like the pesky truth get in their way of the big sell.


6 posted on 08/20/2024 2:19:12 PM PDT by shotgun
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To: CFW

Now since Biden is no longer the candidate, the FEDS have stopped playing Fun With Numbers.

Imagine that.


7 posted on 08/20/2024 2:23:36 PM PDT by gov_bean_ counter (Eccl 10:2 - The heart of the wise inclines to the right, but the heart of the fool to the left )
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To: shotgun

Has anyone in the Pravda press asked either one of them for comment on this topic? Or are they still not talking to the media?


8 posted on 08/20/2024 2:23:38 PM PDT by Kudsman (Stop the steal 24: Vote early)
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To: Brooklyn Attitude

Article from NYPost from 4:30 this afternoon.

https://nypost.com/2024/08/20/business/wall-street-banks-brace-for-downward-revision-of-1m-fewer-jobs/

“Wall Street banks brace for downward revision of up to 1M fewer jobs — fueling worries the Fed failed to slash rates on time”

Article from Bloomberg:

https://www.bloomberg.com/news/articles/2024-08-20/fed-confronts-up-to-a-million-us-jobs-vanishing-in-revision

“Fed Confronts Up to a Million US Jobs Vanishing in Revision”


9 posted on 08/20/2024 2:24:10 PM PDT by CFW
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To: CFW

1 million...

That’s quite the oopsie.


10 posted on 08/20/2024 2:24:45 PM PDT by mewzilla (Never give up; never surrender!)
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To: Kudsman

The media does all the talking for them. They just sit back and be joyful.


11 posted on 08/20/2024 2:25:10 PM PDT by shotgun
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To: CFW
"The Fed has been basing their actions on fake numbers."

I can't believe that the Fed didn't know the real numbers, I will bet a million dollars that they were simply in on the grift.
12 posted on 08/20/2024 2:27:12 PM PDT by The Louiswu (Pray for Peace in the world.)
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To: CFW

Their fake numbers don’t include the thousands of jobs that are bleeding out each day. Can’t count the number of immediate family or remote acquaintances who’ve spoken about someone losing their jobs. BIDANOMICS WORKS as intended.


13 posted on 08/20/2024 2:27:21 PM PDT by RasterMaster ("Towering genius disdains a beaten path." - Abraham Lincoln)
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To: RasterMaster

They lie about the numbers and then weeks later downgrade them to actual real numbers when heads are turned elsewhere (Like the DNC)


14 posted on 08/20/2024 2:33:00 PM PDT by princess leah ( )
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To: princess leah

That’s not all...

https://www.bls.gov/cpi/notices/2023/methodology-changes-2023.htm


15 posted on 08/20/2024 2:34:04 PM PDT by mewzilla (Never give up; never surrender!)
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To: CFW

Job posting

Gubermint Statisticians, no experience required, starting at 120k a year. Your politically appointed Dept. Manager will tell you the numbers to report, no analysis required, you just sign off and take responsibility for them.


16 posted on 08/20/2024 2:34:18 PM PDT by DAC21
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To: oldplayer
Actually it was expected but maybe not at this level. Companies have been creating ghost jobs for the last couple of years maybe longer. Recently a family member was laid off when a company downsized. While the position they filled was eliminated, about a month later, the company advertised jobs that this person was qualified for. When they contacted HR, the Rep told him not to bother, they were accepting applications but did not have money to pay for the positions. Essentially these positions will never be filled. They were ghost jobs.

I read there is a reason companies have been doing this, I don’t recall why. But these so called new jobs make it appear they are hiring. My child works in tech and operations, and is lucky to have a job right now. People my child went to the University with are working in retail or service industry jobs. All the real jobs are entry level low wage positions. Most State and Federal jobs are temporary one to two year positions.

17 posted on 08/20/2024 2:34:55 PM PDT by OldGoatCPO (No Caitiff Choir of Angels will sing for me. )
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To: CFW

Kamala is on the job...day one.
...well,January of 2025 if she has
time during her busy schedule.
Cackle cackle.


18 posted on 08/20/2024 2:36:23 PM PDT by Leep (Re-elect deep state. 2024!)
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To: CFW

MAY throw a “Wrench INTO HARRIS’ Speech?””


19 posted on 08/20/2024 2:36:53 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: DAC21

“Gubermint Statisticians, no experience required, starting at 120k a year. Your politically appointed Dept. Manager will tell you the numbers to report, no analysis required, you just sign off and take responsibility for them.”


I suspect that the ad runs 365 days a year. There is always a need for grunts to report the government story-line. Such reporting makes the citizens happy!


20 posted on 08/20/2024 2:38:59 PM PDT by CFW
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