Article

2024-08-22 Economy

Backlash after 818,000 jobs in America 'vanish' from jobs report

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Posted by Skidmark 2024-08-22 00:10|| E-Mail|| Front Page|| [11141 views ] Top

#1 It is starting.

Posted by crazyhorse 2024-08-22 01:54|| 2024-08-22 01:54|| Front Page Top

#2 ZERO - Wall Street Outraged Over Latest Epic F*ck Up By Biden's Labor Department

It's delightfully fitting that on the day the entire financial world was holding its breath for Biden's highly politicized and grossly incompetent Bureau of Labor Statistics to admit it had massively fucked up the jobs data over the past year, that Biden's highly politicized and grossly incompetent Bureau of Labor Statistics fucked up even more.

At exactly 10am ET this morning, the BLS was supposed to publish its annual CES Preliminary Benchmark Announcement revision, an update on how many jobs in the past year were, for lack of a better word, made up (as we reported earlier, it just so happened that the number was 818,000, which was the second biggest annual overestimation of job creation in US history... something that surely was pure coincidence in an election year).

However, 10:01am ET hit... and nothing happened: millions of traders, thousands of economists and countless macrotourists were furiously slamming the F5 key, refreshing the revisions page to see.... nothing change. This went on, and on, and on.... and even though the market actually reacted as if data had been published, it turned out that algos were merely responding to phantom triggers in hopes of triggering momentum ignition up or down. No actual data was reported.

Posted by Besoeker 2024-08-22 06:01|| 2024-08-22 06:01|| Front Page Top

#3 You have to understand. Everything they tell you is BS. Labor numbers? Inflation rate? Danger of a epidemic?
They tell you what they would like for you to believe.

Posted by ed in texas 2024-08-22 08:49|| 2024-08-22 08:49|| Front Page Top

#4 The non-governmental labor market is covered by deductions for Social Security reported by employers. Why would any other number be used as a baseline?

Posted by Procopius2k 2024-08-22 09:47|| 2024-08-22 09:47|| Front Page Top

#5 Anyone shocked is just admitting they were gullible enough to believe it in the first place.

Posted by Angstrom 2024-08-22 10:54|| 2024-08-22 10:54|| Front Page Top

#6 That's a lot of Joy.

Posted by swksvolFF 2024-08-22 13:42|| 2024-08-22 13:42|| Front Page Top

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