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1.3 Million Jobs "added" this year by accidental double counting by BLS
Posted on 9/14/22 at 11:25 am
Posted on 9/14/22 at 11:25 am
quote:
Feds ‘Added’ 1.3 Million Jobs by Double-Counting This Year, Top Economist Says
LINK
The U.S. federal government has produced higher than expected jobs numbers by double-counting figures this year, a top economist has stated.
Throughout this year, the monthly jobs reports have been repeatedly topping market estimates.
The July and August non-farm payrolls (NFP) reports showed 528,000 and 315,000 new jobs, respectively.
The figures are far higher than what many economists and analysts had initially projected.
White House officials have taken victory laps on the employment data, noting that these numbers are proof the economy is strong and that President Joe Biden’s policies are supporting post-pandemic growth.
However, economists have been raising questions about the discrepancy between the Bureau of Labor Statistics (BLS) data and the various labor-related numbers revealed throughout the month.
Plus, many are questioning why the Federal Reserve’s quantitative tightening campaign failed to diminish labor demand.
Several experts say they have now determined what is causing better-than-expected labor numbers.
It appears the high numbers may have to do with double-counting.
quote:
According to EJ Antoni, a research fellow for regional economics in the Center for Data Analysis at The Heritage Foundation, “There is considerable evidence that this double-counting has accelerated recently.”
Antoni’s research found that of the 5.8 million jobs recovered in the last year, roughly 1.3 million were the result of double-counting.
In the August numbers, double-counting accounted for 208,000 jobs.
This post was edited on 9/14/22 at 11:29 am
Posted on 9/14/22 at 11:27 am to Iron Lion
Yup. Can’t trust anything.
Posted on 9/14/22 at 11:28 am to goofball
This is my shocked face...
Posted on 9/14/22 at 11:29 am to goofball
But they would never do this for an election
Our voice was stolen.
Our voice was stolen.
Posted on 9/14/22 at 11:34 am to goofball
It’s not a glitch, it’s a feature.
Posted on 9/14/22 at 11:53 am to goofball
Hope Doocey brings this up to French Dip
Posted on 9/14/22 at 11:55 am to goofball
It's all bullshite with this administration.
Posted on 9/14/22 at 12:00 pm to goofball
I thought they said they added 10 million billion
This post was edited on 9/14/22 at 12:01 pm
Posted on 9/14/22 at 12:30 pm to goofball
Govt data is as cooked up as Twitter accounts and polling.
Nothing coming out of these Marxists mouths is real.
Nothing coming out of these Marxists mouths is real.
Posted on 9/14/22 at 12:39 pm to goofball
I knew it was cooked books
Posted on 9/14/22 at 12:41 pm to goofball
quote:
There is considerable evidence that this double-counting has accelerated recently.
Posted on 9/14/22 at 12:44 pm to goofball
They're good at double counting things
Posted on 9/14/22 at 12:44 pm to goofball
Lol
That’s a feature of all Obama-led administrations. Not sure why we would expect different in his third term.
That’s a feature of all Obama-led administrations. Not sure why we would expect different in his third term.
Posted on 9/14/22 at 12:49 pm to goofball
oops
wonder if this is being floated to try and get the Federal Reserve to back off a bit prior to election?
wonder if this is being floated to try and get the Federal Reserve to back off a bit prior to election?
Posted on 9/14/22 at 1:01 pm to papasmurf1269
quote:
I thought they said they added 10 million billion
No need to exaggerate.
She stated they only added 10 thousand million jobs.
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