Labor Department Revises the Biden/Harris Job Numbers……..Down!

[txdot-guy]

Originally Posted by Salty Again

... As usual, that's a fair-minded view from you, mate.
And you'd surely 'ave a point IF maybe the revision by
the labour people was 60 or 70 thousand.

... But 800,000 is no doubt waaaay beyonde any reasonable or
rational numbers count to be off-by.

... Which is why I do agree with Jackie and Farmstud here.

#### Salty

From the article:

There’s little reason to fret at the headline revision number, according to some economists. Goldman economist Walker wrote ahead of the Labor Department report the 818,000 downward revision is likely “erroneous” and “misleading,” estimating the new forecast likely overstated the error by 400,000 to 600,000, due in large part to the methodology mostly excluding unauthorized immigrants, a group which strongly contributes to overall job growth. “We're not sweating this report,” wrote Yardeni Research founder Ed Yardeni, who added the revision is largely “old news” considering it tracks employment data from several months ago.

Again the numbers are likely off because of the way they get their data.

[Daneskold1]

Originally Posted by Jackie S

https://www.forbes.com/sites/dereksa...vernment-says/

One of the Kamala Harris talking points, (ie, lies), is the touting of “job Growth”.

Well, it seems the big lie is now being turned around, by over 800,000 jobs.

The Swamp is trying its best to make Harris/Biden look good, but it is like pouring perfume on a pig. Sooner or later the truth will come out.

Of course, this is just another big lie being perpetrated by Kamala as she tries to rebrand. Lie after lie after lie. She is beginning to make Joe abide n look like an amateur

How does she keep track.

The only single economic statistic that matters to the proletariat is the wealth gap. Growing in every single administration since Ronald Reagan. No matter party affiliation. The economy is the last thing any GOP constituent wants to die on. They are responsible for the majority of the national debt and have nearly pushed us into depression three times since Ronald Reagan. Trickle down and reverse Robin Hood the culprit.

Also, it's not as if the White House publishes those numbers. Get a grip. STOP

[Daneskold1]

Do you have a citation to lend your claim any credibility? As is, not credible.

Just sayin'......

[Daneskold1]

Originally Posted by txdot-guy

From the article:

There’s little reason to fret at the headline revision number, according to some economists. Goldman economist Walker wrote ahead of the Labor Department report the 818,000 downward revision is likely “erroneous” and “misleading,” estimating the new forecast likely overstated the error by 400,000 to 600,000, due in large part to the methodology mostly excluding unauthorized immigrants, a group which strongly contributes to overall job growth. “We're not sweating this report,” wrote Yardeni Research founder Ed Yardeni, who added the revision is largely “old news” considering it tracks employment data from several months ago.

Again the numbers are likely off because of the way they get their data.

I humbly insist, you are attempting the equivalent of reasoning with toddlers. Recent head trauma suffering toddlers.

Please do not be disappointed if you do not achieve the desired result.

[Tiny]

Originally Posted by Jackie S

https://www.forbes.com/sites/dereksa...vernment-says/

One of the Kamala Harris talking points, (ie, lies), is the touting of “job Growth”.

Well, it seems the big lie is now being turned around, by over 800,000 jobs.

The Swamp is trying its best to make Harris/Biden look good, but it is like pouring perfume on a pig. Sooner or later the truth will come out.

Of course, this is just another big lie being perpetrated by Kamala as she tries to rebrand. Lie after lie after lie. She is beginning to make Joe abide n look like an amateur

How does she keep track.

I have a friend who, believe it or not, may know as much as Texas Contrarian and Lusty Lad about macroeconomics. He was telling me when the employment numbers came out that they'd likely be revised downwards. If I recall correctly, he said they usually are. Far be it from a politician though not to jump on any fictitious number he can that he thinks will make him look good.

I'm reading that government jobs account for about 30% of the additional employment over the last year. To the extent those are federal government jobs, that's not as good for the economy as employment in the private sector, the engine of growth, IMHO. It's not bad if you can get one of those plum positions though. The average wage for federal workers is a little north of $100,000 per year.

[txdot-guy]

I suspect that when they do the first count, which consists of self reporting, the numbers contain a percentage of unofficial workers. I.E. illegal immigrants.

Those workers are then not represented in the official numbers which are calculated differently and at a later date.

But that’s just a wild ass guess on my part.

[Tiny]

Originally Posted by txdot-guy

I suspect that when they do the first count, which consists of self reporting, the numbers contain a percentage of unofficial workers. I.E. illegal immigrants.

Those workers are then not represented in the official numbers which are calculated differently and at a later date.

But that’s just a wild ass guess on my part.

That's possible. I'll ask my friend for some color the next time I speak with him.