In a world inundated with headlines and media narratives, it’s crucial to question the numbers presented to us. Recent revelations about jobs reports paint a concerning picture, revealing a pattern of deception to meet political agendas and manage public perception.
According to Zerohedge, 10 of the last 11 months have witnessed downward revisions in jobs numbers. The November 2023 jobs report, initially claimed at 199,000, was revised down to 173,000, missing the expected 180,000. The October report suffered an even greater revision, dropping from 150,000 to 105,000, indicating a more significant miss than anticipated. September saw a revision lower by 74,000 jobs.
This trend of misinformation extends beyond revisions. Job cuts in 2023 surged by 98% compared to 2022, totaling a staggering 721,677. Technology companies led with 168,032 announced job cuts, a 73% increase from the previous year. Retail followed with 78,840 cuts, marking a substantial 274% hike. The primary reason cited for job cuts in 2023 was market and economic conditions.
As we navigate a landscape clouded by unreliable data, it becomes evident that critical scrutiny is essential to discern the reality behind the headlines. The job market’s current state reflects a cautious and cost-cutting approach among employers, foretelling potential challenges for job seekers in the coming months.
Consistent downward revisions in the jobs number are concerning.
The question becomes if this month's jobs number was really a beat.
If it is revised below 175,000, then the jobs number missed expectations.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) January 5, 2024
Stunning statistic: there has been ZERO INCREASE in jobs for native-born workers in over five years, since July 2018! pic.twitter.com/mxdpmPHIbO
— zerohedge (@zerohedge) January 5, 2024
Job cuts rise 98% in 2023 compared to 2022 721,677 to 363,824
US service sector slows in December as employment plummets – ISM survey
Remember all of those articles about strong jobs and wages are why the Fed has been raising rates?
It was all fake. The BLS revisions show a MASSIVE decline in the data since Q4 2022.
All of the data has been faked.
Ht @FrogNews pic.twitter.com/EwUcF7uPw7
— Wall Street Silver (@WallStreetSilv) June 1, 2023
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