Posted on 06/07/2024 1:29:12 PM PDT by george76
The fake news media is working overtime to help Joe Biden’s reelection bid.
The disastrous May jobs report was released on Friday: According to the BLS, nonfarm payrolls expanded by 272,000 – ‘better than expected’ and the unemployment rate rose to 4% (this number is also a lie).
But the fake news media is spinning the abysmal report to help Joe Biden.
“U.S. adds a much-better-than-expected 272,000 jobs in May, but unemployment rate edges up to 4%” – CNBC boasted on Friday.
...
Fake News CNN really hyped up the May jobs report.
“US economy added a whopping 272,000 jobs in May” CNN’s headline read.
“Key takeaways from the blowout May jobs report,” another CNN headline read.
Axios also carried the water for the Biden Regime with a hysterical headline.
“The boom in hiring shows the labor market is still strong, defying other indications that it’s cooling,” Axios absurdly claimed.
...
The Bureau of Labor Statistics double counts people with multiple jobs which is why they say nonfarm payrolls, not workers.
Most of the jobs added were in healthcare, government, leisure and hospitality (seasonal).
Full-time workers: -625,000 Part-time workers: +286,000
Native-born workers: -663,000 Foreign-born workers (including illegal aliens): +414,000
Here’s the truth via Zero Hedge:
On the surface, it was a blockbuster jobs report, certainly one which nobody expected, with the two largest US banks – JPMorgan and JPM – both expecting a below-consensus print at 150K and 165K, respectively (well we did, and we said that the jobs print “will beat” shortly before it was published)
...
Starting at the top, the BLS reported that in May the US unexpectedly added a whopping 272K payrolls, not workers since the establishment survey double-counts multiple jobs even if held by the same employee, which was 50% higher than the consensus forecast of 180K and 14K more than the highest Wall Street estimate (258K from Regions Bank).
How many of those jobs directly grow the GDP?
Full-time workers: -625,000 :
Native-born workers: -663,000
That’s negative GDP and bye bye taxpayers with welcome to welfare or multiple part time jobs. That’s Bidenomics!!
Believe nothing from our tyrannical rulers, not one thing.
Start there. Assume the truth resides elsewhere and be on your way in search of the truth.
“ Full-time workers: -625,000 Part-time workers: +286,000”
How’s that $20 minimum wage workin’ out for ya?
BLS .. the establishment survey double-counts multiple jobs even if held by the same employee..
1.2 million full-time jobs have been lost, replaced by 1.5 million part time jobs.. in the past year..
just May: 625K full-time jobs were lost in one month, replaced by 286K part-time.
May the number of native-born worker tumbled again, sliding by 663K , while foreign-born workers (mostly illegal aliens ), surged by 414K.
https://www.zerohedge.com/markets/inside-most-ridiculous-jobs-report-years
Meh.
I understand the desire to pick apart or frankly, worse, ultra-parse things like the monthly BLS jobs reports.
However, unlike the leftists - I *am* a steadfast capitalist. Capitalism is a gift from God that allows everyone to benefit so long as you are willing to work hard *and* always evolve, grow your skills, and make yourself valuable.
Other folks can waste their breathe parsing, but I take broader view and in terms of the fall election?
Every good jobs report means the prime rate ain’t gonna be cut any time soon as well as meaning inflation isn’t going to be tamed, and ultimately? Voters aren’t economists and their views are highly personal and they mostly view it as a matter of what they’re paying for a loaf of bread.
Heck, folks who want to be done with SloJoe’s socialist drift ought to be *rooting* for big jobs numbers from here on out because it means two things:
1. Capitalism is far stronger than the leftists could possibly imagine and hope to defeat.
2. The squishy middle mostly cares about personally impactful pricing - and strong job growth will keep that high.
I hope the next 3-5 months stay just as high because it’s a win-win... Even the best efforts of giveaway Joe and his lackeys can’t actually defeat capitalism, while at the same time? Goods and services prices will continue to rise, making the non-engaged/squishy middle more amenable to a change.
There really is not a downside here, folks.
No wonder, Trump is so popular among blue collar workers.
First. all the good jobs went away to China, and similar places.
Then, the jobs left, are filled by illegals.
What can the average Joe do?
Hey—the jobs report is right on! Every time I pass McDonald’s, their sign says “Now Hiring”!
I’ve said all along if the propaganda bureau, I mean the news media, has any good economic news to excitedly push 24/7 before the election, the dimwitted American people will vote Dem again. 😛😜🤪
They even have my exact prediction of people saying “I seen on TV gas is down 5 cents a gallon from last month.” Happened today.
And imagine the boost when the Replacement Candidate takes the stage when Biden is off the ballot——soon. Dems by 10%.
But I still think the new 9/11 coming from illegal aliens will be a huge factor against the Dems.💣💣
If their stupid “blame the GOP for not passing a bill on the border” doesn’t work.
10 million illegals will get American jobs!
On the surface, it was a blockbuster jobs report
The only part the MSM talks about aka pimp Biden & Party no matte how bad it smells.
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