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One Arm of the Government Says the Other is “Lying”

By March 30, 2024Commentary

The Bureau of Labor Statistics is the supposted authoritative source for data on jobs and employment trends.  There are lots of issues with its reports during the Bidementia administration, primarily that basically every month the initial estimates for the prior month are revised downward, often very substantially.  Those numbers are primarily derived from two surveys–one of businesses, which counts jobs, and one of households, which counts employed persons.  For the first time in history, during Senile Joe’s reign, the number of jobs derived from each survey has greatly diverged, so that the gap is now an astounding 5 million workers versus jobs.  Some of this can be due to more people holding multiple jobs, as inflation ravages the ability of wages to keep up with spending needs.  We also have a bizarre situation in which all the supposed new jobs from the last year are part-time ones.  And all the new jobs for the last six years have gone to foreign-born workers, i.e., illegal immigrants.

Unfortunately for Uncle Joe’s liars, there are other, semi-independent, parts of the federal government that do their own research.  The Federal Reserve bank in Philadelphia, for example, looks at the employment numbers.  Its conclusions are based on a Quarterly Census of Employment and Wages.  For 2022, the analysis found that actual employment was 1.1 million below the initial numbers reported by the magicians at BLS.  The trend continues in the recently released Philly Fed data; 800,000 fewer jobs in 2023 than BLS initially reported.  There is no way this is innocent or accidental, despite the likely high level of incompetence in the DEI-driven federal government.  This is intentional pumping of a key government statistic to make the economy look better than it is.  And please note that my very own Minnesota is one of the states with the biggest divergences.   (Phil. Fed Report)    (ZH Post)

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