Trusting the numbers?

[beej]

https://www.marketwatch.com/story/u-s-job-gains-have-likely-been-exaggerated-now-well-find-out-by-how-much-8fe9dd3d?mod=home_mostpopular

the orignal numbers came out when the administration was trying to convince the public we were not in a recession. New numbers come out when they are trying to convince Powell to cut rates. This was the biggest revision since 2009.

what do they say about the 3 kinds of liars? there are liars, damn liars, and statistics.....

[JParis]

Listen, the entire thing has been cooked for decades.

Every decade or so the government recalculates the way they measure, inflation, jobs, unemployment, GDP....

It's ALL cooked and it has been for a very long time...

Reports like this happen more often than most realize...occasionally numbers get revised up and occasionally they get revised down.....

The "news", if there is any in this one, is the mass correction....usually you'll see it a month at a time and usually sooner than this...

[Incogneeto]

https://www.marketwatch.com/story/u-s-job-gains-have-likely-been-exaggerated-now-well-find-out-by-how-much-8fe9dd3d?mod=home_mostpopular

the orignal numbers came out when the administration was trying to convince the public we were not in a recession. New numbers come out when they are trying to convince Powell to cut rates. This was the biggest revision since 2009.

what do they say about the 3 kinds of liars? there are liars, damn liars, and statistics.....

Hey ,They were only off by 818,000.

Course they were over not under.

[Jeff]

The worst way they boast about "creating jobs" is to force massive layoffs and companies to fire workers, then  blame the previous regime for employment rates and when those people get a job again they puff out their chest like they parted the Red Sea.

[Del.]

This will e a day 2 priority for Kamala. Relax!

[Here's Johnny!]

All governments "move the goal posts" as needed to score votes.... sad but true.

[Del.]

All governments "move the goal posts" as needed to score votes.... sad but true.

I've never heard of a correction that large.

[beej]

https://www.forbes.com/sites/dereksaul/2024/08/21/us-added-818000-fewer-jobs-than-previously-thought-from-march-2023-to-march-2024-government-says/

What's more, the data used by the Labor Department relies on unemployment insurance records, which means the revision is unlikely to account for many undocumented immigrants in the workforce. Goldman Sachs economists this week estimated that could result in "erroneously" revising as many as 500,000 working unauthorized immigrants out of the payroll estimate, according to a client note.

[RobertELee]

Reporter- "Nearly 1 million jobs don't exist"

Libtard- "But Tronald Dump"

Reporter- "It's the Bureau of Labor"

Libtard- "I'm not familiar with them"

View this post on Instagram

[beej]

Reporter- "Nearly 1 million jobs don't exist"

Libtard- "But Tronald Dump"

Reporter- "It's the Bureau of Labor"

Libtard- "I'm not familiar with them"

View this post on Instagram

that's not just your run of the mill liberal. That the Secretary of Commerce who says she doesn't know what the dept of Labor is!!!!

[RobertELee]