I can’t take it anymore. Fake numbers that are released by the government get turned into fake news by the corporate media, and many Americans don’t even realize that they are being conned. Major news outlets all over the country are breathlessly trumpeting the “blockbuster jobs report” as if it is a sign from heaven that good economic times are ahead. We are being told that the U.S. economy added 517,000 jobs last month, but that isn’t true. Sadly, the truth is that the U.S. economy actually lost 2.5 million jobs in January.
Yes, you read that correctly. So how in the world does a loss of 2.5 million jobs become a “gain” of 517,000 jobs? Every month, government bureaucrats apply “adjustments” to the numbers that they believe are appropriate, and at this point their “adjustments” have become so absurd that they have turned the monthly employment report into a total farce.
As I have been documenting on my website for weeks, there has been a tremendous wave of layoffs over the last several months.
Google, Microsoft, Amazon, Apple, Facebook, Lyft, Twitter, Walmart, McDonald’s, FedEx and countless other large corporations have decided to conduct mass layoffs.
But now the government expects us to believe that the U.S. economy is actually adding jobs at a very brisk pace?
That doesn’t make any sense at all.
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Unfortunately, the corporate media is totally buying it. For example, CNBC just posted an article that described the jobs report as “stunningly strong”…
The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their biggest gain since July 2022.
Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December’s gain of 260,000, according to a Labor Department report Friday.
And a CNN article has quoted one expert as saying that “the labor market is more like a bullet train”…
“With 517,000 new jobs added in January 2023 and the unemployment rate at 3.4%, this is a blockbuster report demonstrating that the labor market is more like a bullet train,” Becky Frankiewicz, president and chief commercial officer of ManpowerGroup, said Friday.
Really?
After all of the layoffs that we have witnessed in recent months, does she really believe that?
Not to be outdone, Moody’s Chief Economist Mark Zandi boldly declared that any concerns about a coming recession “should be completely dashed by these numbers”…
The January jobs report should “dash” concerns of recession, Moody’s chief economist said Friday, but warned that the numbers may overstate job growth.
“Any concern the economy is in recession or close to a recession should be completely dashed by these numbers,” Moody’s Chief Economist Mark Zandi told CNN’s Matt Egan on Friday, adding that it would take “an awful lot” to send the US economy into a downturn.
Come on man.
You are smarter than that.
The U.S. economy did not add 517,000 jobs last month.
That is the “adjusted” number.
The “unadjusted” number actually shows that the U.S. economy lost 2.5 million jobs last month. The following comes from Bloomberg…
For the establishment survey, the government’s updated seasonal factors may have impacted the headline payrolls figure. On an unadjusted basis, payrolls actually fell by 2.5 million last month.
That is actually what was measured.
But if you brazenly add more than 3 million jobs to the report that simply do not exist, it makes it look like the U.S. economy is doing just great.
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Needless to say, Joe Biden was quite eager to take credit for the “spectacular” jobs report, and he also told reporters that he takes no responsibility for the raging inflation crisis that we are currently experiencing…
He replied with an emphatic ‘no’ when asked if he took any accountability for the price rises under his presidency. ‘It was already there when I got here, man.’
‘Remember what the economy was like when I got here? Jobs were hemorrhaging. Inflation was rising. We weren’t manufacturing the damn thing here. We were in real economic difficulty.’
Inflation in January 2021 when Biden took office was 1.4 percent. The latest December figures were 6.5 percent, down from a June 2022 peak of 9 percent.
For the next month, the Biden administration is going to endlessly boast that 517,000 jobs were added to the economy in January, and most Americans will never even know that it is a number that is entirely fictional.
The cold, hard reality of the matter is that economic activity is slowing down all around us, and many people are starting to become quite desperate…
Video out of Austin, Texas, shows desperate people climbing into supermarket dumpsters to retrieve food that may have been discarded due to a widespread power outage.
The shocking footage Thursday from behind an H-E-B grocery store in Southeast Austin featured people having a free-for-all from dumpsters, in what one commenter on Instagram described as a “dystopian hellscape.”
From now on, I really wish that the government would only release the raw, unadjusted employment numbers to the corporate media.
Because there is way too much guesswork that goes into the “adjustments” that the government bureaucrats are coming up with.
But that is never going to happen.
Every month they are just going to continue to tell us that things are better than they really are. At least that will give me something to write about.
If anyone tries to shove the “517,000 jobs” number in your face, please share this article with them.
That figure does not reflect reality in any way.
The raw numbers show that 2.5 million jobs were actually lost last month, and that is absolutely horrible.
And as I continue to warn my readers, incredibly challenging economic times are on the horizon. More layoffs are coming, the housing market is going to continue to crash, and global food shortages are going to continue to intensify.
So don’t let anyone fool you. We really are plunging into a very serious economic downturn, and the months ahead are not going to be pleasant.
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much like the fictional “climate catastrophe” it’s junk ‘science’ based on cooked numbers, ditto for the “millions” dead from covid.
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“There are three kinds of lies: lies, damned lies and statistics.” – Mark Twain
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“Washington, DC is 12 square miles bordered by reality.” – Andrew Johnson
Please explain the nature and f these “adjustments”, and if this is a common practice by other administrations.
Correction:
Please explain the nature of these “adjustments”, and if this is a common practice by other administrations.
The biggest adjustment is with “seasonal” work. They estimate how many jobs are considered seasonal and then deduct them from job losses every January. It’s done every year by every administration and they say it’s compensated by the jobs not being added to the numbers ahead of the Christmas season, but the numbers never jibe. They always add fewer “seasonal” jobs to the numbers in the last quarter than they deduct in January. With that said, they went way overboard this time to pump up the numbers.
Biden’s record on math is dismal….. his admin of agency apparatchiks covering for him even more so. Was it Abraham Lincoln that said : ” you can fool some of the people all the time , and you can fool all the people some of the time , but you can not fool all the people all of the time”. This describes the demokratzie party and it’s fearless puppet of present to a big T.
When all else fails, manipulate the data.
I totally believe this story. I too was shocked when I heard this number having read numerous articles the past month on how so many companies were laying off thousands, not hundreds of employees. Fact is you cant get people to work. The Buffets in vegas are not open all day like they used to be but most have a brunch and that its, not evening buffet. they told me they cant get enough workers to keep it open. Hotels are now saying at check in they only service your room every other day and if you need something you must ask.
We are in a society of non workers sitting home playing video games and getting checks from the govt. Hell no they dont want to work.
They said these numbers were for the hospitality industry. Ya everyone is traveling in Jan, with the weather weve had nation wide where do you go for great fun in the sun. Mars?
Under Obama he made it look better because they stopped counting people who do not want to work and those not looking for work in their unemployment numbers. Obuma had about a 13% unemployment rate at one time but they boasted 3.1 percent.
There is a great little book, “How to Lie with Statistics,” which was required reading when I took an elementary economics course at Ohio State in 1967. It’s still available and should be required reading by everyone.
You can go to the BLS.gov website yourself and pull the data.
They are not afraid to show you both the Seasonal and non-seasonal numbers.
Why? Because they have the media conditioned to ignore the actual data.
Seasonal adjustments are not the result of guess work. Rather, they reflect mathematics based on over 80 years of observed market behavior. Are they perfect? No. Are they meaningful? Yes.
If you don’t trust the SA data, which is sensible, look at the year on year comparisons of NSA data. If you do, you will find that annual payroll growth in January was faster than December but slower than November. In other words, it was a strong data point but consistent with recent trends.
The BLS isn’t making stuff up. But one should not rely on ‘journalists’ to interpret their data for you, including Mr. America First.
Just remember –
– The invisible people that Biden tries to shake hands with are real (only he can see them).
– There is no Hunter Biden laptop.
– Zelensky might need another 120 Billion.
– Russian prostitutes peed on Trump.
– Biden didn’t get lost in the Rose Garden. He was looking for buried treasure.
– Kamala Harris is articulate. Especially about yellow school buses.
– Slick Willie did not have sex with Lewinsky.
– Hillary landed in Bosnia “under sniper fire”.
– John Kerry is a “war hero”.
– Obama is a Hawaiian born Christian.
– Biden got 81 million votes.
– The Benghazi massacre was caused by an anti-muslim video.
– The Afghanistan “withdrawal” was meticulously planned.
– Biden banished “Corn Pop” from a municipal pool with a 6 ft. chain.