When 1,047,000 is really 10,500

[berryberry]

Senile Biden LIED, Again !!! Overstating employment numbers by over a million. Actual numbers were 10,500. Senile Biden's Admin claimed they were 1,047,000 - all to help steal elections

The Biden administration vastly overstated its estimate that employers created more than 1 million jobs in the second quarter of this year, claiming historic job growth when in fact hiring had stalled, according to a new estimate.

Job growth was “essentially flat” in the second quarter with only 10,500 new jobs added, the Federal Reserve Bank of Philadelphia said.

Republicans are accusing the administration of lying about the employment data in an election year and are demanding answers.

The Philadelphia Fed’s new assessment shows that employment numbers in 29 states and the District of Columbia were significantly lower than the Bureau of Labor Statistics reported for the March-through-June period.

The BLS, a division of the Department of Labor, estimated net job growth of 1,047,000 jobs in the second quarter. The Philadelphia Fed now says its data shows that 10,500 net jobs were created in that period.

https://www.washingtontimes.com/news...-jobs-added-s/

[jmichael]

Part of the question is, what are considered new jobs. Are jobs lost during the covid years, that are now being filed New?
The unemployment Rate during that time frame was the same as the all-time low of the Trump Administration ( 3.7% ). Actually, it went from 3.9% as of Dec 31st, 2021, to 3.6% as of March 31st 2022

[chizzy]

Originally Posted by jmichael

Part of the question is, what are considered new jobs. Are jobs lost during the covid years, that are now being filed New?
The unemployment Rate during that time frame was the same as the all-time low of the Trump Administration ( 3.7% ). Actually, it went from 3.9% as of Dec 31st, 2021, to 3.6% as of March 31st 2022

This is a misleading number as to the real figure. Does not take into account those who are off the unemployment grid and those who are part time.
U-6 is a better way to look

[String Nutts]

When you talk about employment , job growth, etc, you need to factor in how they relate to current conditions. Such as inflation.



Right now there aren't enough people entering the work force and wages are rising. Things need to slow down before inflation drops. An over simplification, but that's the jist.



Federal Reserve Chair Jerome Powell on Wednesday said the biggest remaining barrier to taming inflation is the shortage of workers, which is giving Americans greater clout to seek higher pay.

https://www.politico.com/news/2022/1...wages-00071403

[jmichael]

Originally Posted by chizzy

This is a misleading number as to the real figure. Does not take into account those who are off the unemployment grid and those who are part time.
U-6 is a better way to look

These are the same numbers that were used for the Trump Administration when some people were saying how great a job he done

[chizzy]

Originally Posted by jmichael

These are the same numbers that were used for the Trump Administration when some people were saying how great a job he done

did I say they werent? stop trying to make an agruement when there isnt one. simply said u6 is a better way to track.

[berryberry]

Originally Posted by jmichael

Part of the question is, what are considered new jobs. Are jobs lost during the covid years, that are now being filed New?
The unemployment Rate during that time frame was the same as the all-time low of the Trump Administration ( 3.7% ). Actually, it went from 3.9% as of Dec 31st, 2021, to 3.6% as of March 31st 2022

This has nothing to do with the Biden administration vastly overstating net job growth by over 1 million jobs.

They reported 1,047,000 jobs in the second quarter. The Philadelphia Fed now says its data shows that 10,500 net jobs were created in that period.

[LayingPipe]

Biden has created ZERO jobs Over 2 million jobs short of 2019 People going back to work after Covid shutdown is not creating jobs The unemployment number is based on people looking for work does not include the millions sitting home getting everything free in the Democrats vote buying scam

[jmichael]

I can't seem to find it anywhere that the Philadelphia Fed released any message like this. I searched all over their web site.
The only thing I found was the story from the post. You know, I wonder, if it's fake news.

[berryberry]

Originally Posted by jmichael

I can't seem to find it anywhere that the Philadelphia Fed released any message like this. I searched all over their web site.
The only thing I found was the story from the post. You know, I wonder, if it's fake news.

LOL - not fake news at all. You obviously did not search very hard.

It is all right there, very easy to find

https://www.philadelphiafed.org/-/me...-q2-report.pdf