Everybody knew Joe Biden’s economic numbers were full of shit. Every month we get the payrolls number and ALMOST every month, the previous month is revised lower. Of course, nobody pays any attention to that by then – they are too busy focusing on the NEW bullshit number which will ALSO be revised downwards the following month.
The most recent annual revision was released today (45 minutes late!) – and it was the SECOND WORST REVISION IN U.S. HISTORY….
US LABOR DEPT: PRELIMINARY ESTIMATE OF NONFARM PAYROLLS BENCHMARK REVISIONWOULD CUT MARCH 2024 LEVEL OF EMPLOYMENT BY 818,000 OR 0.5%
The April 2023-March 2024 downward revision is nearly equal to the entire population of Columbus, Ohio. That’s a lot of “working folks” to just vanish.
As a reminder, they did the SAME thing in 2022 during the runup to the 2022 mid-term elections – overstating jobs by another million…
But I’m sure all those “inflation is under 3%!” statistics are on the level, right??
