Obama did this for eight years. And since they are making numbers up you have to ask, who was playing it. If you can know the number in advance it is easy to make huge money. In one minute.
I don't like the term "fake" here; it implies intentionality. Recall that in the first half of the Biden administration, labor statisticians routinely undercounted job growth and had to revise those numbers upward.
This is criminal fraud. Peter, who in the Trump administration has the authority to legally go after this? They should hold accountable, fire accordingly, and prosecute!
Ultimately, all of the surveys and reports are estimates. There is not going to be 100% accuracy even under the best of circumstances.
The Bureau of Labor Statistics itself should be doing better with their estimates, and they absolutely should have made an effort to reconcile the Current Employment Survey and the Current Population Survey data (the Establishment and Household Surveys from the Employment Situation Summary). There is no excuse for not noticing the extreme deviation between the growth in the CES All Employees figures and the CPS Employment Level figures.
As fundamentally the two metrics are charting what should be the same broad demographic information--job growth--there is an expectation that the two metrics will show similar growth patterns. Historically, that has been the case.
That correlation broke down first in 2022 and then seemingly for good in 2023 and 2024.
Based on the past couple of months' worth of job data, there are indications that correlation has been restored--if it has, then we should not see extraordinary corrections such as the latest Business Employment Dynamics report offered up, effectively eliminating some 477,000 jobs claimed for the third quarter of 2024.
But the other group to single out for blame and shame is the corporate media. Anyone could interrogate the monthly jobs numbers and see where the dichotomies were appearing. Every challenge I have made to the monthly jobs numbers over the years can and should have been made by the corporate media as well. Had they been more challenging of the numbers initially, the BLS perhaps might not have been complacent in allowing things to deteriorate in their reporting the way that they have.
Obama did this for eight years. And since they are making numbers up you have to ask, who was playing it. If you can know the number in advance it is easy to make huge money. In one minute.
There’s likely some fudging going on in the “seasonal adjustments” also.
I don't like the term "fake" here; it implies intentionality. Recall that in the first half of the Biden administration, labor statisticians routinely undercounted job growth and had to revise those numbers upward.
I don't like that the BLS statisticians couldn't be bothered to reconcile the Establishment and Household Survey data.
I don't like that whatever else their "intention" might have been, doing a good job was not it
I think the vast majority of Americans knew the BLS statistics from the corrupt regime were, well…BS. We weren’t buying it!
The economy was in the toilet.
Groceries, own/rent a home, insurance costs, own/ buy a vehicle, etc….tangible proof we’d been in a recession during the Biden regime.
This is criminal fraud. Peter, who in the Trump administration has the authority to legally go after this? They should hold accountable, fire accordingly, and prosecute!
Ultimately, all of the surveys and reports are estimates. There is not going to be 100% accuracy even under the best of circumstances.
The Bureau of Labor Statistics itself should be doing better with their estimates, and they absolutely should have made an effort to reconcile the Current Employment Survey and the Current Population Survey data (the Establishment and Household Surveys from the Employment Situation Summary). There is no excuse for not noticing the extreme deviation between the growth in the CES All Employees figures and the CPS Employment Level figures.
As fundamentally the two metrics are charting what should be the same broad demographic information--job growth--there is an expectation that the two metrics will show similar growth patterns. Historically, that has been the case.
https://newsletter.allfactsmatter.us/p/april-jobs?open=false#§lou-costello-labor-math
That correlation broke down first in 2022 and then seemingly for good in 2023 and 2024.
Based on the past couple of months' worth of job data, there are indications that correlation has been restored--if it has, then we should not see extraordinary corrections such as the latest Business Employment Dynamics report offered up, effectively eliminating some 477,000 jobs claimed for the third quarter of 2024.
But the other group to single out for blame and shame is the corporate media. Anyone could interrogate the monthly jobs numbers and see where the dichotomies were appearing. Every challenge I have made to the monthly jobs numbers over the years can and should have been made by the corporate media as well. Had they been more challenging of the numbers initially, the BLS perhaps might not have been complacent in allowing things to deteriorate in their reporting the way that they have.
You spelled "Bureau of Lies & Statistics" incorrectly. ;)
“Lies & Statistics” is redundant. Just sayin’ 😉
Some days the human species disappoints so thoroughly that I find myself fuming, “Weasels! They’re all weasels!”