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Politics : Formerly About Advanced Micro Devices
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longz
Maple MAGA
To: Maple MAGA who wrote (1461451)6/8/2024 6:23:55 PM
From: FJB2 Recommendations   of 1575446
 
Inside The Most Ridiculous Jobs Report In Years


It's all crashing down for Bidenomics.

“May’s jobs report presented contradictory views of the labor market, as we expected. The establishment survey shows robust gains in nonfarm payrolls — yet the unemployment rate rose to 4.0%. We believe the latter currently offers a closer approximation of reality than payrolls, as BLS’ model for estimating business births and deaths – which added 231,000 jobs to the nonfarm-payrolls print in May – is lagging the reality of surging establishment closures and falling business formation. We think the underlying pace of current job gains is likely less than 100,000 per month.”

... not least of all because it accounts for the grotesque data manipulation by the BLS in the form of the ridiculous monthly Birth/ Death adjustments, which even Bloomberg now admits are artificially inflating the monthly jobs print by about 100K. To get a sense of just how unprecedented this statistically manipulation is, consider that the birth-death model has added 1.9 million jobs since last April, or a whopping 56% of all payrolls added during this period. This means that more than half of all "job gains" in the past year are from an excel spreadsheet which assumes that 1.9 million new jobs were created from new businesses.
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