Back in August, many were surprised by the accuracy of our forecast, when we predicted that in its annual revision, the Biden Bureau of Labor Statistics would revise jobs for the April 2023-March 2024 period by “up to 1 million”, something which we said would mean that all job report “beats” recorded in the past year will have been misses and the US labor market is in far worse shape than the admin would admit. https://www.zerohedge.com/economics/biden-lied-about-everything-philly-fed-finds-all-jobs-created-q2-were-fake
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“How can you tell when a politician is lying? Their lips are moving.”
Seems part of a concerted effort to undermine confidence in the U.S. govt. in favor of???
While employment is an important barometer of the economy, the politically motivated rush to put out incomplete guesses is a problem.
Not only that, hundreds of thousands of new gov’t jobs were created. And since the net jobs created was around zero, that means that hundreds of thousands of actually productive jobs were eliminated.
Isn’t one the hallmarks of the Biden Administration that when good figures are released, they will be adjusted downward a couple of months later?
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