The JOBS number Biden is touting as showing how stupendous his economic policies have been? Fake. A Survey. An altered Benchmark. A faulted, defunct means of measuring employment and unemployment that requires continual modification each month as real numbers are released.
Presented by the Bureau of Labor Statistics, the numbers vary dramatically when compared to the actual payroll audit done monthly by ADP. ADP’s audit of actual payroll takes a month to compile before it is released which makes more sense. As a test I looked what ADP reported for December compared to the BLS: ADP – a loss of 301,000 jobs. BLS – a gain of 510,000. A discrepancy of 811,000. Therefore, the 467,000 being surmised by BLS for January is significantly suspicious and could be completely wiped to another revision of -350,000 when ADP releases their report in March.
The Lie accomplished two things: 1) it purportedly made Biden look good, 2) Gave the bludgeoned tech stock market a Lift!
According to ADP’s Report for December released February 3rd, the biggest losses were from among small businesses. Even Christmas couldn’t hold them together.The other discrepancy is bankruptcies. In 2020, President Trump introduced the Bankruptcy protection Act for any business owing less than $2.7 million. Biden increased that limit 280% to $7.5 million thereby reducing the number of bankruptcies and employment losses.
A NUMBERS GAME> Making Statistical Comparisons Worthless<
BLS claims Biden “added 6.4 million jobs in 2021, empowering workers to secure higher wages”! The BLS closes their report with a demand that all workers get vaccinated while promoting frequent testing, masks, etc…
Of course the misnomer in the terminology WordPlay “added” is strikingly false. Jobs aren’t ‘added’ when people go back to work – in addition, employers have shuttered for lack of workers. It is is similar to the means used to redact and add voters on the Machines used in the 2020 election. The numbers are Worthless.
Apparently there is nothing sacred from their Lies and Propaganda – we are truly living in communist China. While our government is living in Sweden where there was no lockdown.
BLS measures payroll by conducting a “Household Survey” . Anything below 150,000 is cause for concern, negative numbers send ALARMS ~ according to BLS. The Census Bureau provides the names of households to survey – numbering 60,000 – with the intent they are a composite demographic of the entire population. Of the households, 75% of the sample remains the same from month to month and 50% remains the same year to year. The computerized survey is then weighted for ‘independent population estimates’ and those realigned numbers are fed into an algorithm and spit out for public consumption!
These numbers determine employed vs unemployed so as to define new/added jobs. The US labor force is roughly 170 million – the Survey would represent .00058 of the actual labor market. Given the vast discrepancy for December numbers via ADP vs BLS, I would suggest their methodology is corrupted.
TO add to the fallacy, BLS has announced they changed the benchmark for how they measure the job market and have begun to modify the entire 2021 year to accommodate that manipulation/alteration. Increasing November by about 400,000 a 200% increase.
When asked about the altered Benchmark, the Labor Secretary deflected by hailing the BLS as the ‘gold standard’… of blah. But Economists have stated that this manipulation will give the Federal Reserve the impetus to ‘double’ the first rate hike from .25 basis points to .5 basis points which will bring equity shares crashing to a halt.
It would appear that the Benchmark was recalculated based on changing the total labor force from 170 million to 146 million ‘based on deaths’. That would equate to 24 million people in the labor force who died or were permanently disabled. In addition, they revised the algorithm to include an estimate of those employees exempt from Unemployment Insurance claiming this data has ‘lagged for two years’.
As a result of this Altered Benchmark, the largest Revision (a negative 489,000) affects the Trump year 2019 which is likely going to be used as a setup for data arguments in the 2024 Election.
Our politicized government is truly a theatre. Where everyone pretends to be someone else, everything is something else, and the props continually collapse.