The more you lie, the easier it becomes. The longer you lie, the more it becomes your reality, your "truth".
-TonyR 2023
They lie about everything else, who seriously thinks they arent lying about jobs?
Warning: Investors Are Buying Stocks Based on FAKE Jobs Numbers
Warning: Investors Are Buying Stocks Based on FAKE Jobs Numbers | ZeroHedge
Case in point, last Friday, the BLS released the non farms payroll numbers for August 2023. And once again, you guessed it, the prior months (June and July) were revised lower. And not by a little: June’s NFP number was revised down by 80,000 jobs, while July’s was revised downward by 30,000 jobs.
Bear in mind, June’s initial NFP number of 209,000 had already been revised downward by 24,000 jobs in July. So with this second downward revision of 80,000 jobs, we now know that HALF of the jobs in the June NFP report were FAKE.
1st revision (24,000) + 2nd revision (80,000)=104,000 FAKE jobs.
104,000 Fake Jobs / 209,000 Jobs Claimed = 49.7% of the jobs were fake.
As I mentioned a moment ago, the August NFP report also revised July’s job numbers down by 30,000. So when we add this to the 104,000 fake jobs “created” in June, we’re now up to 134,000 FAKE jobs being created in the last two months.
As if that wasn’t bad enough, as Bill King noted in his
King Report, seasonal adjustments were boosted to make August’s NFP numbers look better. In 2022, the BLS adjusted August’s NFP numbers upward by 47,000. But for some reason, this very same seasonal adjustment accounted for 117,000 jobs.
Put another way, we already know that 70,000 of the 187,000 jobs the BLS claims the economy generated in August were due to a seasonal adjustment, as opposed to being real jobs created in the economy.
Oh, and bear in mind, July’s numbers have only been revised down once thus far. They will likely be revised down again next month. And we can expect a similar thing to happen for August’s NFP numbers as well.
Indeed, as ZeroHedge recently pointed out, these downward revisions have occurred for
every single month in 2023 thus far.