Article

2022-12-04 Economy

Something Is Rigged: Unexplained, Record 2.7 Million Jobs Gap Emerges In Broken Payrolls Report

[ZeroHedge] ... the BLS

...the U.S. government’s Bureau of Labor Statistics...

has a single, laser-focused political agenda - not to spoil the political climate at a time when Democrats just lost control of the House as somehow both construction (+20K) and manufacturing (+14K) added jobs according to the BLS, when even ADP now reports that these two sectors combined shed more than 100,000 workers in November.

Alas, there is only so much the Department of Labor can hide under the rug because when looking at the abovementioned gap between the Household and Establishment surveys which we have been pounding the table on since the summer, it just blew out by a whopping 401K as a result of the 263K increase in the number of nonfarm payrolls (tracked by the Household survey) offset by a perplexing plunge in the number of people actually employed which tumbled by 138K (tracked by Household survey). Furthermore, as shown in the next chart, since March the number of employed workers has declined on 4 of the past 8 months, while the much more gamed nonfarm payrolls (goalseeked by the Establishment survey) have been up every single month.

What is even more perplexing, is that despite the continued rise in nonfarm payrolls, the Household survey continues to telegraph growing weakness, and as of Nov 30, the gap that opened in March has since grown to a whopping 2.7 million "workers" which may or may not exist anywhere besides the spreadsheet model of some BLS (or is that BLM) political activist. In fact, one look at the chart below confirms all one needs to know about BLS "data integrity."

I am under the impression that the BLS only tracks employment at large and some medium size companies. Could the difference be explained by an increasing number of small companies, and/or many small companies increasing their employee numbers by a few each, all flying under the official radar?

Posted by The Walking Unvaxed 2022-12-04 00:00|| || Front Page|| [9 views ] Top

#1 bls uses seasonal adjustment factors

these are pretty significant in some sectors, e.g., construction

I don't know what the ADP does with seasonal adjustment.

Posted by Lord Garth 2022-12-04 05:28|| 2022-12-04 05:28|| Front Page Top

#2 The "Gaming of numbers" may include those crossing the border illegally, without employment.

Posted by Besoeker 2022-12-04 06:25|| 2022-12-04 06:25|| Front Page Top

#3 6-7 years ago my daughter had a part time job at Panera during college break. There was a young man there who worked 3 different part time jobs with 3 different social security numbers.

Posted by Airandee 2022-12-04 07:09|| 2022-12-04 07:09|| Front Page Top

#4 Or they were fired for cause.

Baggage handlers filmed laughing as they slammed and tossed passengers' luggage onto a conveyer belt are SUSPENDED

Posted by Skidmark 2022-12-04 09:47|| 2022-12-04 09:47|| Front Page Top

#5 900 employees at risk of layoff from Pratt and Whitney Israeli subsidiary

Posted by Skidmark 2022-12-04 11:04|| 2022-12-04 11:04|| Front Page Top

#6 They can dance like Gene Gene the Dancing Machine for a while but eventually Jaye P Morgan will take care of business.

Posted by Super Hose 2022-12-04 14:45|| 2022-12-04 14:45|| Front Page Top

#7 Looks like they forgot to synchronize their ~~lies~~ data.

Posted by AlmostAnonymous5839 2022-12-04 15:09|| 2022-12-04 15:09|| Front Page Top