Remember when we were told over and over that this is the best economy ever, and that Joe Biden and Kamala Harris have created millions of jobs?
From the Bureau of Labor Statistics:
According to data from the U.S. Bureau of Labor Statistics (BLS) Current Employment Statistics (CES) survey, nonfarm payroll employment expanded by 3 million in 2023.1 (See chart 1.) Average monthly job gains of 251,000 in 2023 were down from those in 2022 (+377,000) and 2021 (+604,000). In percentage terms, employment rose by 2.0 percent in 2023, lower than in each of the prior 2 years but higher than each of the 5 years prior to the pandemic.
Welp, it seems all that sunshine and lollipops is about to change.
Yup, they cooked the numbers, folks.
Who would've guessed?!?!
This correction has already happened in California, so expect this to mirror what's to come nationally:
In a report titled ‘Newest Early Jobs Revision Shows No Net Job Growth During 2023' we learn just that: the Early Revisions to state-level data flagged here previously, suggests that California actually lost jobs during the fourth quarter of last year. As the report details, ‘based on the most recent release of the early benchmarks, payroll jobs declined by 32,000 from September 2023 through December 2023. On the contrary, the preliminary monthly reports showed a solid increase in job growth (+117,000 jobs) at the time.'
This, according to the LAO, means that ‘with the fourth quarter revision, calendar year 2023 saw essentially no net job growth (+9,000 jobs overall).'
How is this not market manipulation??
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