The Cold Reality of Bidenomics And The Jobs Market: Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 (All New Jobs Over ...

excalibur

Diamond Member
Mar 19, 2015
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So, more Biden lies and trickery. More malfeasance by the MSM.

What good is the MSM? It is useless, they are nothing but propagandists for Biden and the Democrats.




The Cold Reality of Bidenomics And The Jobs Market: Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 (All New Jobs Over Past Year Were Part-time Jobs!)


The Philadelphia Fed says the US Payrolls overstated by at least 800,000. While Biden was in New York City with the other former Presidents (Clinton and Obama) raising money for Biden’s reelection bid, Trump attended a wake for a fallen police officer.​
The jobs market is much worse than Biden and his mouthpieces claim.​
Something has snapped in the labor market: that’s when a staggering discrepancy emerged between the number of Payrolls (as measured by the BLS’ Establishment Survey, a far more crude and imprecise, yet much more market-moving data series), and the number of actual Employed Workers (as measured by the BLS’ far more accurate Household Survey). As we showed at the time, after the two series had tracked each other tick for tick, a gap opened in March 2022 which quickly grew to 1.5 million jobs in just 3 months…​
something%20snapped_6.jpg
… and has since exploded to a whopping gap of 5 million “jobs” that apparently do not exist.​
something%20snapped%202.jpg
And while some of this discrepancy could be explained with the record surge in multiple jobholders, which increased by 1 million since March 2022 to an all time high of 8.6 million at the end of 2023 (as a reminder, the Establishment Survey counts 1 worker have 2 or 3 (or more) multiple jobs as, well, 2 or 3 (or more) separate jobs, even if it is just one worker trying to make ends meet under the roaring inflation of Bidenomics), most of the gap remained unexplained.​
There was more: it was around the summer of 2022 that the Biden labor department – in its zeal to show job growth no matter the cost, or quality of jobs – also started fooling around with the composition of the labor market, with most of the monthly gains going to part-time workers, even as full-time workers stagnated or declined. The culmination, as we reported earlier this month, is that in February 2024, the US had 132.9 million full-time jobs and 27.9 million part-time jobs. Which is great… until you look back one year and find that in February 2023 the US had 133.2 million full-time jobs, or more than it does one year later! And yes, all the job growth since then has been in part-time jobs, which have increased by 921K since February 2023 (from 27.020 million to 27.941 million).​
...​


 
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4.0% UE and 8mm good paying unfilled jobs, low 1st time claims, improving CPI and PPI, fewer people holding two jobs than in Trump's etc., and on and on

excalibur is laughable.
 
4.0% UE and 8mm good paying unfilled jobs, low 1st time claims, improving CPI and PPI, fewer people holding two jobs than in Trump's etc., and on and on

excalibur is laughable.

Care to show the details on the pay of these "good paying jobs" or is that just a label you put there to try to push your narrative?
 
If a leftist dem has their mouth open you know a lie is coming out of it any second.
Democrats and their liberal media presstitutes have turned lying into a true art form. The problem is many voters are too stupid to realize they are being lied to.
 
So, more Biden lies and trickery. More malfeasance by the MSM.

What good is the MSM? It is useless, they are nothing but propagandists for Biden and the Democrats.




The Cold Reality of Bidenomics And The Jobs Market: Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 (All New Jobs Over Past Year Were Part-time Jobs!)


The Philadelphia Fed says the US Payrolls overstated by at least 800,000. While Biden was in New York City with the other former Presidents (Clinton and Obama) raising money for Biden’s reelection bid, Trump attended a wake for a fallen police officer.​
The jobs market is much worse than Biden and his mouthpieces claim.​
Something has snapped in the labor market: that’s when a staggering discrepancy emerged between the number of Payrolls (as measured by the BLS’ Establishment Survey, a far more crude and imprecise, yet much more market-moving data series), and the number of actual Employed Workers (as measured by the BLS’ far more accurate Household Survey). As we showed at the time, after the two series had tracked each other tick for tick, a gap opened in March 2022 which quickly grew to 1.5 million jobs in just 3 months…​
something%20snapped_6.jpg
… and has since exploded to a whopping gap of 5 million “jobs” that apparently do not exist.​
something%20snapped%202.jpg
And while some of this discrepancy could be explained with the record surge in multiple jobholders, which increased by 1 million since March 2022 to an all time high of 8.6 million at the end of 2023 (as a reminder, the Establishment Survey counts 1 worker have 2 or 3 (or more) multiple jobs as, well, 2 or 3 (or more) separate jobs, even if it is just one worker trying to make ends meet under the roaring inflation of Bidenomics), most of the gap remained unexplained.​
There was more: it was around the summer of 2022 that the Biden labor department – in its zeal to show job growth no matter the cost, or quality of jobs – also started fooling around with the composition of the labor market, with most of the monthly gains going to part-time workers, even as full-time workers stagnated or declined. The culmination, as we reported earlier this month, is that in February 2024, the US had 132.9 million full-time jobs and 27.9 million part-time jobs. Which is great… until you look back one year and find that in February 2023 the US had 133.2 million full-time jobs, or more than it does one year later! And yes, all the job growth since then has been in part-time jobs, which have increased by 921K since February 2023 (from 27.020 million to 27.941 million).​
...​


Where is jimboliar, I don't see him on this thread at all???
 

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