10/11 jobs reports were adjusted DOWN last year.
They do this because they know most people only see the initial headline. @zerohedge has done a great job covering this.
The Biden admin lies – everywhere, every time. https://t.co/LXEcjGlDNB
— Arynne Wexler (@ArynneWexler) January 7, 2024
Initial US employment reports overstated by 439,000 jobs in 2023
via Foxbusiness:
There’s something wrong with previous U.S. jobs reports.
The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows.
That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.
Since the government wiped out 439,000 jobs after the fact, the total percentage of jobs created by the government last year is even higher. Increased government hiring has been driving the jobs numbers higher.
This matters because U.S. jobs reports move the markets and U.S. Treasury yields. Plus, they are a significant factor in the Federal Reserve’s decisions about the path of interest rate hikes and cuts. All that affects U.S. consumers’ pocketbooks.
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