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We used to print U.S. economic data regularly as released; however, we stopped this practice over a year ago because we realized the Biden administration was lying and the data was not trustworthy. The deception was worse than under President Obama's reign.
It's gotten worse since then.
Today's numbers are a perfect example.
What the regime is doing is posting false numbers to show progress, then deceptively 'revising them down' in the following months. It's the old bait and switch, with a Wall Street twist.
You won't find this information in the Mockingbird Media.
A closer look at the details of today's jobs report reveals just how ugly the reality behind the the Budget-Busting Bidenomics truly is, writes Zero Hedge.
The jobs print from 10 of the past 11 months has been revised lower! Why? So that the White House can take credit for a strong number (one which also sparks algorithmic buying in the market) only to quietly revise it lower one and two months later when nobody is looking.
The far more accurate Household Survey showed that the number of Employed workers actually collapsed by an unprecedented 683K, the biggest drop since the US economy was shutdown by covid!
It means that since February of 2023, the US has not added a single full-time job (in fact it has lost 34,000), while adding 774 part-time jobs!
Putting it all together, if one believes the headlines, in December the US added 216K payrolls (which included a record number of double-counted multiple jobholders), and yet the number of employed workers actually crashed by 683K, the biggest drop in 4 years. Furthermore, taking a closer look at the composition we find that in December, the number of well-paid, full-time workers collapsed by a near record 1.5 million, offset by a 762K surge in part-time workers. As for the balance, it was the 222K people who discovered last month that to keep up with the economic miracle that is Bidenomics, they need to work at least one more job.
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Funny that you accuse the Biden Administration of providing false numbers, but your numbers have no link to any source material at all. They are just numbers printed on a page. Why is that?