Posted on 08/21/2024 8:07:44 AM PDT by 1Old Pro
As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported
The revision to the total payrolls level of -0.5% is the largest since 2009.
At the sector level, the biggest downward revision came in professional and business services, where job growth was 358,000 less than initially reported.
(Excerpt) Read more at cnbc.com ...
They were only off by about a MILLION JOBS
Just a little “correction.” Now let’s get back to talking about how “Trump lies.”
I wonder if this is part of Biden’s revenge. He cooked the books while he was running but now that he’s been shoved out, he’s going to go back to real statistics.
Simpler than that, they lie and manipulate but eventually the facts catch up.
“Transient jobs” supersedes “Transient Inflation.”
The top story on tonight’s See BS “News”?
I don’t care what they say...sounds like they are mixing stats...I have never heard of a 30% reduction in the measurement for an entire year. That is unheard of and too big to be a simple mistake.
A mere 30% off. They must be using DEI math
FJB’s con job on the American public fails. Now adjust the BS inflation numbers to actual, using retail food, heating fuel, and gas prices. I believe the number would be significantly north of 17%
How shocking! That almost NEVER happens.
If you add in all the previous revisions, the total change is close to 1.2 million jobs. 1.2 million jobs that never existed. And all the while the Democrats and media were celebrating the fantastic jobs report. I and others would comment it was all fake, and people would get upset and respond that the economy really was doing great because “look at all the jobs created”. It was b.s. from top to bottom.
Here is a Zerohedge article.
“US Jobs Revised Down By 818,000 In Election Year Shocker, Second Worst Revision In US History”
“The revision is mainly due to the highest-paying sectors: i.e., professional services -358k, leisure -150k, and manufacturing -115k. Not at all surprising: government was revised +1,000.”
—
I’ve said here before that the upcoming recession is going to hit middle management more than it will lower wage-earners. Therefore, unlike previous recessions there will be deep concerns about its effect on the economy.
Makes you go hmmm
Yep, it's pretty bad.
It really is front page news stuff. the media will buy it.
the media will bury it.
Figures don’t lie but liars figure!
And both smell like “transient methane”.
“ Not at all surprising: government was revised +1,000.”
The Stalinist/Islamo-fascist party currently having their convention intends for ALL jobs to be government jobs. That’s their policy. They’re attempting to implement that.
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.