The January jobs report from the Bureau of Labor Statistics has no basis in reality. The bureaucrats simply made up numbers to make it look like the economy added jobs.
(Article by Bill Hennesy republished from HennessysView.com)
The economy actually lost about 300,000 jobs in January. ADP and the BLS’s own report admit that. But a 300,000-job loss would hurt Joe Biden. So, the crooked accountants at BLS made up numbers and handed a headline to the ignorant press.
Here’s where the BLS comes out and tells us they simply made up numbers to arrive at the headline the White House communications staff wrote for them:
The adjustments increased the estimated size of the civilian noninstitutional population in December by 973,000, the civilian labor force by 1,530,000, employment by 1,471,000, and unemployment by 59,000. The number of persons not in the labor force decreased by 557,000.
Of course, not even Byron York could be bothered to read the report. Instead, York hopped on Fox News Friday to proclaim Joe Biden has fixed the economy, pointing to the White House’s fictitious headline as proof.
Another trick the BLS used was to dramatically revise downward the numbers from every month prior to December 2021 all the way back to June.
For more, see Mish Talk by Mish Shedlock.
For the record, the only jobs report you can sort of trust is the ADP payrolls report.
Businesses’ payrolls fell by 301,000 last month in a broad-based decline, according to ADP Research Institute data released Wednesday. The median forecast in a Bloomberg survey of economists called for a 180,000 rise.
When you compare the ADP report (legit) to the BLS report (fiction), you see the government has no interest in covering up its lies because most people, including Byron York, are too lazy to question the headline.
Read more at: HennessysView.com
Please contact us for more information.