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PostPosted: September 11 19, 9:24 pm 
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Seeking a Zubaz seamstress

Joined: September 4 07, 1:48 pm
Posts: 24286
Location: St. Louis
Trump telling the "boneheads" at his appointed Fed to bring negative interest rates. The theater of absurd is normal under King Orange.


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PostPosted: September 11 19, 9:24 pm 
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Seeking a Zubaz seamstress

Joined: September 4 07, 1:48 pm
Posts: 24286
Location: St. Louis
Trump telling the "boneheads" at his appointed Fed to bring negative interest rates. The theater of absurd is normal under King Orange.


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PostPosted: September 12 19, 6:46 am 
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There's someone in my head but it's not me
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Joined: April 18 06, 5:08 pm
Posts: 43866
Location: Clowns to the left of me. Jokers to the right. Here I am.
pioneer98 wrote:
Here's Why The Prior Jobs Report Numbers Were Wrong By Over Half A Million
Quote:
In a stunning announcement, The Bureau of Labor Statistics reported that the official payroll numbers in 2018 and 2019 were vastly overstated. It turns out that the amount of new jobs created were tremendously inflated and had to be reduced downwards by more than 500,000 jobs. This embarrassing admission raises questions as to the actual strength of the job market, the success of the Trump-initiated tax cuts and how exactly these numbers are calculated.

The U.S. Department of Labor releases the jobs report on a monthly basis. It serves as a gauge as to the financial health and well being of the country. For instance, if there are more people obtaining jobs, then it is deemed good for the economy. Corporations, the government and individuals will make financial and life-critical decisions based upon these numbers, which reflect the direction of the American economy.

The newly revised numbers indicate that over 60% of the downward revisions emanated from the retail, leisure and hospitality sectors. These industries are closely tied to consumer spending. Our economy is highly dependent on individual spending, as it comprises over 70% of the economy. According to the Associated Press, “This was the sharpest downward revision in jobs totals since 2009, when the economy was just starting to emerge from the Great Recession.”


I'm really surprised they didn't suppress this until after the election, but then again, nothing matters any more. Trump will just tweet "FAKE NEWS!!!" and we will all move on.

A week later and no one at BLS has been forced to issue a memo stating the the official numbers were Vastly Understated.


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