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US Jobs Revised
Down By 818,000 In Election Year Shocker, Second Worst Revision In US
History
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Wednesday August 21, 2024
Back in March, when most of Wall Street and economists still believed the
lies spewed forth by the Biden Bureau of Labor Statistics, which intentionally uses
inaccurate, rushed "data" from the Establishment survey which is
meant to pad sentiment and make the economy appear far stronger than it is
for propaganda purposes (as one can see by the constant monthly downward
revisions), we did an in-depth analysis looking at the actual,
"uncooked" numbers published by the Philadelphia Fed preview of
the annual Quarterly Census of Employment and Wages employment revision,
and warned our readers that actual US payrolls are overstated by at least
800,000.
Specifically, we concluded that "the BLS had overstated payrolls by
800,000 through Dec 2023 (and more if one were to extend the data series
into 2024)" and added that "it's truly statistically remarkable
how every time the data error is in favor of a stronger, if fake,
economy."
Furthermore, we also
noted that the revision "also means that far from the stellar 230K
average monthly increase in payrolls in 2023, which the White House would
spin time and again as direct evidence of the benefits of Bidenomics, the
true average monthly payroll increase in 2023 was only 130K!
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JERRY NADLER PROMISES HIGHER TAXES
FOR 'RICH WHITE MEN' IF DEMOCRATS TAKE OVER CONGRESS
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