How is the unemployment rate still now at 4.3% if they’re now saying 900k jobs from last year didn’t exist?

And why are these revisions so large?

likeuplifting
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None of those numbers exist. They got rid of them.

likefunny

There’s no such thing as numbers.

likefunny

Cuz it’s all fugazi

likefunny

🤦🏻‍♂️

We’re being lied to on an unfathomable scale at this point.

like

Pretty obvious. Biden and Co were cooking the books pre election. Those jobs never existed.

likefunny

☝🏻🤓 um ackshually the adults are speaking. Sybau

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Trump fired the BLS director. New director comes in and numbers that could be reported as job loses this month are suddenly spread out over months to make Trump look not as bad.

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This is….just wrong

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The real answer is that the jobs number and the unemployment rate number come from two entirely different data sources. The former from the establishment survey and the latter from the household survey. What was just revised was the former.

likehelpful

And the keyword there is survey. In order to get a number at a useful time they can’t wait for harder payroll numbers. Thus, the surveys, which always have some degree of accuracy issues.

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There are and always have been revisions as more data comes out.

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This large? And this many months after?

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