- Aug 8, 2016
- 26,102
- 25,165
- 2,445
These are the same kind of rope-a-dope shenanigans they pull with the CPI.
...As people dig deeper in the entrails of the most bizarre - and most politicized - jobs report in history, they keep finding more and more irregularities...
...Consider this: according to the BLS report, which was based on a survey week from May 10th through May 16th when virtually all of the US was still shut down, the government decided that a record number of new businesses were formed. According to the BLS's Birth/Death model which is used to adjust the raw payrolls data for estimated new business openings and closures, a record 345K new jobs were created due to new businesses opening in a month when - we will repeat again - the US was largely shut down! This also means that over 60% of the business closures from the month of April (April Birth/Death -553K) were somehow undone in a month when the US was still mostly closed down...
...Needless to say, this was entirely a statistical adjustment in the "eye of the beholder", one which even the BLS felt ashamed of, because in a little noticed addendum to the jobs report, the BLS announced it had made "changes" to its net birth-death model due to the coronavirus pandemic, changes which apparently included the modeling of massive business reopenings when millions of small businesses were shutting down. From the BLS: These two methodological changes are the following...
...But wait, there's more...
...According to the American Dental Association, there are just over 200,000 dentists in the US. So how surprising it must be that at a time (as a reminder the survey week was from May 10th through May 16th) when most dental offices across the US were still shuttered (and in places like California they still are), a record 245K dentist office jobs were added, effectively undoing half of all the April job losses in this job category...
...Finally there was this, from the report...... there was also a large number of workers who were classified as employed but absent from work...
...How can one explain any of this? The only possible explanation is that after decades of China stealing US technology, the BLS finally reverse-engineered China's own economic model spreadsheet where any "data" can be goalseeked to be exactly what one wants it to be...
www.zerohedge.com
...As people dig deeper in the entrails of the most bizarre - and most politicized - jobs report in history, they keep finding more and more irregularities...
...Consider this: according to the BLS report, which was based on a survey week from May 10th through May 16th when virtually all of the US was still shut down, the government decided that a record number of new businesses were formed. According to the BLS's Birth/Death model which is used to adjust the raw payrolls data for estimated new business openings and closures, a record 345K new jobs were created due to new businesses opening in a month when - we will repeat again - the US was largely shut down! This also means that over 60% of the business closures from the month of April (April Birth/Death -553K) were somehow undone in a month when the US was still mostly closed down...
...Needless to say, this was entirely a statistical adjustment in the "eye of the beholder", one which even the BLS felt ashamed of, because in a little noticed addendum to the jobs report, the BLS announced it had made "changes" to its net birth-death model due to the coronavirus pandemic, changes which apparently included the modeling of massive business reopenings when millions of small businesses were shutting down. From the BLS: These two methodological changes are the following...
...But wait, there's more...
...According to the American Dental Association, there are just over 200,000 dentists in the US. So how surprising it must be that at a time (as a reminder the survey week was from May 10th through May 16th) when most dental offices across the US were still shuttered (and in places like California they still are), a record 245K dentist office jobs were added, effectively undoing half of all the April job losses in this job category...
...Finally there was this, from the report...... there was also a large number of workers who were classified as employed but absent from work...
...How can one explain any of this? The only possible explanation is that after decades of China stealing US technology, the BLS finally reverse-engineered China's own economic model spreadsheet where any "data" can be goalseeked to be exactly what one wants it to be...
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
