Government has OVER-reported job growth by 501,000

[Mac1958]

Maybe you should put out a pop quiz and see how much everyone knows.

Sure!

1. What is your interpretation of a 2.1% GDP, after we were promised twice that?
2. Why have Treasury yields crashed, down 40%?
3. Why is there virtually no growth-push inflation?

Bonus Questions!
4. Why has Trump been pushing the Fed to drop interest rates for months?
5. How has the exploding debt paid for a "strong" GDP?

Okay, go ahead. miketx, you too, I'm sure you can knock this out of the park with your standard comprehensive macroeconomic analysis.
.

 

[Mac1958]

Maybe you should put out a pop quiz and see how much everyone knows.

Sure!

1. What is your interpretation of a 2.1% GDP, after we were promised twice that?
2. Why have Treasury yields crashed, down 40%?
3. Why is there virtually no growth-push inflation?

Bonus Questions!
4. Why has Trump been pushing the Fed to drop interest rates for months?
5. How has the exploding debt paid for a strong GDP?

Okay, go ahead. miketx, you too, I'm sure you can knock this out of the park with your standard comprehensive macroeconomic analysis.
.

And by the way, could you please tell me how I'm trying to mislead anyone, specifically?
.

 

[sparky]

4. Why has Trump been pushing the Fed to drop interest rates for months?

Trade uncertainty, weak business investment, and sluggish growth abroad were the three main reasons cited by Fed Chair Jerome Powell

How has the exploding debt paid for a "strong" GDP?

America's Disastrous New Normal: A Booming Economy and Soaring Deficits

And by the way, could you please tell me how I'm trying to mislead anyone, specifically?

making us think before enough coffee Mac

~S~

 

[candycorn]

They know nothing for themselves only what their favorite proven media liars feed them.

Well, I do love irony.

Are you trying to say that this report is fake news?

Are you trying to say that the economy is better than the numbers indicate?

Or are talk radio platitudes the best you can do?
.

No. Saying that labor stats don’t reflect the true labor picture. Work inside the home isn’t counted. I don’t know what the threshold is for hours worked to be counted as employed but if you are working 19 hours a week, I doubt anyone is going to say that person should be counted as being employed (school bus drivers work about 19 hours a week) compared to the typical 40 hour a week job.

Basically agreeing with your OP but expanding on it a bit

 

[sparky]

They didn't include those who either ran out of unemployment bennies, or quit looking for work 10 yrs ago

~S~

 

[TNHarley]

Job number revisions are normal. However, that doesn't stop people and marketwatch to bash our peaches in chief letting americans keep more of our money.

 

[TNHarley]

Our political atmosphere is so intellectually dishonest, it blows my mind.
BOTH sides are so fucking pathetic.

 

[mudwhistle]

Maybe you should put out a pop quiz and see how much everyone knows.

Sure!

1. What is your interpretation of a 2.1% GDP, after we were promised twice that?
2. Why have Treasury yields crashed, down 40%?
3. Why is there virtually no growth-push inflation?

Bonus Questions!
4. Why has Trump been pushing the Fed to drop interest rates for months?
5. How has the exploding debt paid for a "strong" GDP?

Okay, go ahead. miketx, you too, I'm sure you can knock this out of the park with your standard comprehensive macroeconomic analysis.
.

2.1 GDP is still good....better than most reports during the Obama Administration.
Treasury yields are down because the Fed boosted interest rates on the debt.
Inflation is a lagging indicator. It's the result of an expansion of the economy. It's still too early to worry about inflation because the economy is still in recovery from 8 years of stagnation.
Trump has been asking the Fed to drop interest rates because he wants a higher GDP.
The exploding debt is due to a couple of factors....higher interest rates on the debt....and possibly a massive influx of illegals collecting benefits along with more and more people retiring......which raises the debt

 

[TNHarley]

They know nothing for themselves only what their favorite proven media liars feed them.

Well, I do love irony.

Are you trying to say that this report is fake news?

Are you trying to say that the economy is better than the numbers indicate?

Or are talk radio platitudes the best you can do?
.

Even the fake readjusted numbers are better than the numbers that Obama faked while he was president and were cheered by the fake media.
I would say that Obama and the Democrats would be cheering these disastrous numbers if they were ever able to achieve them....but they couldn't.
Let's face it......Democrats were trying to destroy the economy on purpose.....and all Trump did was use some common-sense and apply sound business practices to the economy......even though the Democrats have tried to thwart him at every turn. Trump has been fixing the economy and the Democraps have been trying to stop him from fixing the economy.

So trump's labor department is lying and trying to make him look bad?
FFS, listen to yourself!

 

[mudwhistle]

They know nothing for themselves only what their favorite proven media liars feed them.

Well, I do love irony.

Are you trying to say that this report is fake news?

Are you trying to say that the economy is better than the numbers indicate?

Or are talk radio platitudes the best you can do?
.

Even the fake readjusted numbers are better than the numbers that Obama faked while he was president and were cheered by the fake media.
I would say that Obama and the Democrats would be cheering these disastrous numbers if they were ever able to achieve them....but they couldn't.
Let's face it......Democrats were trying to destroy the economy on purpose.....and all Trump did was use some common-sense and apply sound business practices to the economy......even though the Democrats have tried to thwart him at every turn. Trump has been fixing the economy and the Democraps have been trying to stop him from fixing the economy.

So trump's labor department is lying and trying to make him look bad?
FFS, listen to yourself!

So....you actually think that every single Democrat/corrupt public official left their jobs as soon as Trump was elected?

 

[iceberg]

So you think that by claiming that the estimates are wrong by claiming more estimates are more right than the previous estimates....this is a rock-solid case that the economy isn't doing well???? Is that what you're trying to say????

Nope. The economy is doing okay right now, all things considered.

I just think it would be neat if you guys would demonstrate some combination of macroeconomic knowledge and intellectual honesty.

That's it.
.

I think it would be nice if you weren't trying to mislead people who don't understand economics.

i think it would be nice if everyone stopped trying to mislead people.

but that ain't ever gonna happen.

 

[TNHarley]

They know nothing for themselves only what their favorite proven media liars feed them.

Well, I do love irony.

Are you trying to say that this report is fake news?

Are you trying to say that the economy is better than the numbers indicate?

Or are talk radio platitudes the best you can do?
.

Even the fake readjusted numbers are better than the numbers that Obama faked while he was president and were cheered by the fake media.
I would say that Obama and the Democrats would be cheering these disastrous numbers if they were ever able to achieve them....but they couldn't.
Let's face it......Democrats were trying to destroy the economy on purpose.....and all Trump did was use some common-sense and apply sound business practices to the economy......even though the Democrats have tried to thwart him at every turn. Trump has been fixing the economy and the Democraps have been trying to stop him from fixing the economy.

So trump's labor department is lying and trying to make him look bad?
FFS, listen to yourself!

So....you actually think that every single Democrat/corrupt public official left their jobs as soon as Trump was elected?

I get that some leftovers fucked trump but my gawd man. That excuse gets used constantly.
Job number revisions are normal. This is the same dept that put the originals out. Think a little bit man

 

[mdk]

The Bureau of Labor Statistics were told to count the jobs created in Greenland as well. lol

 

[Mac1958]

4. Why has Trump been pushing the Fed to drop interest rates for months?

Trade uncertainty, weak business investment, and sluggish growth abroad were the three main reasons cited by Fed Chair Jerome Powell

How has the exploding debt paid for a "strong" GDP?

America's Disastrous New Normal: A Booming Economy and Soaring Deficits

And by the way, could you please tell me how I'm trying to mislead anyone, specifically?

making us think before enough coffee Mac

~S~

I certainly wouldn't call this "booming", but that could be considered semantics.
.

 

[BasicHumanUnit]

"Government has OVER-reported job growth by 501,000"

Now, can you provide any evidence you are not just a leftist hack job and provide a link to where you made this same statement under Obama's disastrous administration?
(Surely you aren't so naive as to believe otherwise, are you?)

Unless, of course, you are actually simultaneously proving you are as incapable of factually supporting your statement as those you so gleefully accuse, that is.

 

[Mac1958]

"Government has OVER-reported job growth by 501,000"

Now, can you provide any evidence you are not just a leftist hack job and provide a link to where you made this same statement under Obama's disastrous administration?
(Surely you aren't so naive as to believe otherwise, are you?)

Unless, of course, you are actually simultaneously proving you are as incapable of factually supporting your statement as those you so gleefully accuse, that is.

Obama and Trump found themselves in two entirely different economic worlds when they entered office.

Comparing the two economic environments is breathtaking ignorance, intellectual dishonesty, or both.

If you really don't know that...

Well, I do believe that you may not know that.
.

 

[Mac1958]

I just think it would be neat if you guys would demonstrate some combination of macroeconomic knowledge and intellectual honesty.

~S~

Ol' Alan had a nice, big, fat role to play in the Meltdown.

I don't know how he shows his face in public.
.

 

[deanrd]

It's looking like the tax cuts, spending and exploding deficit didn't accomplish what they were after.

This would explain the lackluster GDP and lack of inflation push.

U.S. created 500,000 fewer jobs since 2018 than previously reported, new figures show

Turns out hiring wasn’t nearly as strong in 2018 and early 2019 as the government initially reported — by about a half-million jobs.

The economy had about 501,000 fewer jobs as of March 2019 than the Bureau of Labor Statistics initially calculated in its survey of business establishments. That’s the largest revision since the waning stages of the Great Recession in 2009.

The newly revised figures indicate the economy didn’t get a huge boost last year from President Trump’s tax cuts and higher federal spending. They also signal the economy is a bit weaker than previously believed and could give the Federal Reserve even greater reason to cut interest rates in September.

“This makes some sense, as the 223,000 average monthly increase in 2018 seemed too good to be true in light of how tight the labor market has become and how much trouble firms are said to be having finding qualified workers,” said chief economist Stephen Stanley of Amherst Pierpont Securities.

The average 223,000 monthly increase in employment in 2018 — the strongest in three years — could be trimmed to 180,000 to 185,000, economists estimate.

Fewer jobs were created in restaurants, hotels, retailers and professional business services. Leisure and hospitality employment was reduced by 175,000, business services by 163,000 and retail by 146,400.
.

Why don't you talk about Russian collusion....or racism.
This BS is a loser from the start.

 

[22lcidw]

It's looking like the tax cuts, spending and exploding deficit didn't accomplish what they were after.

This would explain the lackluster GDP and lack of inflation push.

U.S. created 500,000 fewer jobs since 2018 than previously reported, new figures show

Turns out hiring wasn’t nearly as strong in 2018 and early 2019 as the government initially reported — by about a half-million jobs.

The economy had about 501,000 fewer jobs as of March 2019 than the Bureau of Labor Statistics initially calculated in its survey of business establishments. That’s the largest revision since the waning stages of the Great Recession in 2009.

The newly revised figures indicate the economy didn’t get a huge boost last year from President Trump’s tax cuts and higher federal spending. They also signal the economy is a bit weaker than previously believed and could give the Federal Reserve even greater reason to cut interest rates in September.

“This makes some sense, as the 223,000 average monthly increase in 2018 seemed too good to be true in light of how tight the labor market has become and how much trouble firms are said to be having finding qualified workers,” said chief economist Stephen Stanley of Amherst Pierpont Securities.

The average 223,000 monthly increase in employment in 2018 — the strongest in three years — could be trimmed to 180,000 to 185,000, economists estimate.

Fewer jobs were created in restaurants, hotels, retailers and professional business services. Leisure and hospitality employment was reduced by 175,000, business services by 163,000 and retail by 146,400.
.

Why don't you talk about Russian collusion....or racism.
This BS is a loser from the start.

The strength of beliefs is most revered when times are bad. You are the bravest when it comes to living the milk and honey life. Its when you personally suffer along with many you know when the real test begins. Many people fail that. And frankly you guys are pretty shallow. So you keep using the Rhodes Scholar Saul Alinsky advanced English we use every word and every syllable against them approach. You have used it for so long it has lost its lustre. When I see things like this I see massive resources spent and it still is not enough. You can not even conceive that any of the people in protected groups among them are bums. Trump speaks no worse then most american people. And most of whatever he spouts has been spouted against him first. Soon deanrd....soon you get to turn on zee ovenz to kill people. Your dream will come true. And you will do it with glee.

 

[Olde Europe]

Sure!

1. What is your interpretation of a 2.1% GDP, after we were promised twice that?
2. Why have Treasury yields crashed, down 40%?
3. Why is there virtually no growth-push inflation?

Bonus Questions!
4. Why has Trump been pushing the Fed to drop interest rates for months?
5. How has the exploding debt paid for a "strong" GDP?

Okay, go ahead. miketx, you too, I'm sure you can knock this out of the park with your standard comprehensive macroeconomic analysis.
.

Let me give it a try:

1. Trump lied. Everyone with above-room temperature IQ knew it.
2. Investors are looking for a save haven amidst an upcoming storm.
3. Demand is low, probably due to many new jobs paying abysmally, sufficient for necessities, if that. That's to say, small surprise there's no push inflation if 90% of growth goes to the top 1% or so.
4. Someone told him the Fed rate is holding the economy back. In the age of Trump, the "solution" to whatever problem isn't to change course, but to look for a scapegoat. The buck stops... somewhere.
5. It hasn't. The money went to folks, mostly, with a marginal propensity to spend not significantly different from zero.