I’m glad we get to read it here, because the MSM remains in some sort of clown world: “The latest employment report from the Labor Department shows job growth held steady last month, boosting hopes that the Federal Reserve may be able to curb inflation without triggering a sharp jump in unemployment.” https://stocks.apple.com/AofM3fXg9SsKDHPTNUGZajw
With half the people ejected from the labor force by the Pandemic Panic Recession still on the sidelines, avoiding a sharp increase in technical unemployment is not exactly a high bar even for the incompetents running the Fed.
What the corporate media never acknowledges is that the unemployment figures in this country are deliberately understated. They only mention the U-3 figure. The U-6 rate is running double the "official" unemployment rate, but you don't hear about that.
When you look at the various unemployment stats, particularly the U-3 through the U-6, you quickly realize that the unemployment picture is much less rosy than it appears in the "official" narrative.
The U-4 and U-5 (broader measures of unemployment which include discouraged and marginally attached workers) are both progressively higher than the "official" unemployment rate (the U-3).
The U-6 includes people forced to work part time because that's all they can get, and so is more a measure of underemployment than unemployment. However, in all cases there is much more to tell about unemployment than what the corporate media ever bothers to say, and none of it is all that good.
Seems like this has become the norm for the BLS as well as number revisions all the time so that Biden can trot out fake numbers saying how great Bidenomics is. After his "BS" is spouted in the mainstream news, the numbers get revised. But you seldom hear that part from the news. Linking as usual @https://nothingnewunderthesun2016.com/
They’re cooking the numbers, and hoping nobody pays attention to the corrections. What the Fed is using is anybody’s guess, but I suspect they know BLS is cooking the books too.
They're definitely putting a lot of fudge in the numbers. I suspect what they're hiding is a broken process. I've been involved in various sorts of audits, and if they were a CCP style manipulation it would look different.
I’m glad we get to read it here, because the MSM remains in some sort of clown world: “The latest employment report from the Labor Department shows job growth held steady last month, boosting hopes that the Federal Reserve may be able to curb inflation without triggering a sharp jump in unemployment.” https://stocks.apple.com/AofM3fXg9SsKDHPTNUGZajw
With half the people ejected from the labor force by the Pandemic Panic Recession still on the sidelines, avoiding a sharp increase in technical unemployment is not exactly a high bar even for the incompetents running the Fed.
https://fred.stlouisfed.org/graph/?g=17BvQ
What the corporate media never acknowledges is that the unemployment figures in this country are deliberately understated. They only mention the U-3 figure. The U-6 rate is running double the "official" unemployment rate, but you don't hear about that.
https://fred.stlouisfed.org/graph/?g=17Bw7
The unemployment is here, just nobody wants to see it
Addendum:
When you look at the various unemployment stats, particularly the U-3 through the U-6, you quickly realize that the unemployment picture is much less rosy than it appears in the "official" narrative.
The U-4 and U-5 (broader measures of unemployment which include discouraged and marginally attached workers) are both progressively higher than the "official" unemployment rate (the U-3).
https://fred.stlouisfed.org/graph/?g=17BDq
Even when seasonal adjustments are applied, the U-4 through U-6 are still significantly higher than the U-3.
https://fred.stlouisfed.org/graph/?g=17BDN
The U-6 includes people forced to work part time because that's all they can get, and so is more a measure of underemployment than unemployment. However, in all cases there is much more to tell about unemployment than what the corporate media ever bothers to say, and none of it is all that good.
Seems like this has become the norm for the BLS as well as number revisions all the time so that Biden can trot out fake numbers saying how great Bidenomics is. After his "BS" is spouted in the mainstream news, the numbers get revised. But you seldom hear that part from the news. Linking as usual @https://nothingnewunderthesun2016.com/
They’re cooking the numbers, and hoping nobody pays attention to the corrections. What the Fed is using is anybody’s guess, but I suspect they know BLS is cooking the books too.
They're definitely putting a lot of fudge in the numbers. I suspect what they're hiding is a broken process. I've been involved in various sorts of audits, and if they were a CCP style manipulation it would look different.
It's malicious kind of stupid either way.