On Wednesday, the Bureau of Labor Statistics will downward revise jobs for the April 2023-March 2024 period by up to 1 million. This means that all "beats" recorded in the past year will have been misses and the US job market is in far worse shape than the admin would admit.
— zerohedge (@zerohedge) August 18, 2024
Well, that was Unexpected!!!, wasn't it?
ReplyDeleteBy golly you coulda knocked me down with a feather. I'm really disappointed to learn my government uses immaginomics in its analyses.
ReplyDeleteMake that "imaginomics". Measure twice, cut once.
DeleteLet's be honest. EVERYTHING "is in far worse shape than the admin will admit."
ReplyDeleteIt's the same old story, they spent the entire Trump years saying his numbers were fudged, but it's projection, always projection.
ReplyDeleteI once thought it shallow and flip to say the Dems were doing whatever they accused us of...
DeleteBut now I take it as a general rule.
Math is hard!
ReplyDeleteBut it's easy if you're really really stupid. This crop is so stupid that everything is easy for them.
Deletepayrolls will likely be revised down by 818,000 for the 12 months through March, the steepest markdown to the job numbers since 2009. remind me, who was the president in 2008...
ReplyDelete