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Thu Jul 2, 2020, 04:52 PM

Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics.

https://wolfstreet.com/2020/07/02/never-before-have-i-seen-so-much-fake-unemployment-jobs-data-by-the-bureau-of-labor-statistics-while-labor-department-nails-it/

Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics. Labor Department Nails It

Labor Department today: People on state & federal unemployment insurance jumped to 31.5 million, worst ever.

Bureau of Labor Statistics today: 4.8 million jobs created, unemployment dropped by 3.2 million.

BLS under-reported unemployment by 13.7 million, based on data from the Labor Department. What’s happening is infuriating. Read and cringe.

Normally, the jobs report by the Bureau of Labor Statistics is released on the first Friday of the month. And the unemployment claims report is released Thursday every week. But this month, the monthly jobs report was also released today because of the 4th of July weekend. And now we have this delicious situation of both reports on the same day, with the Labor Department’s unemployment insurance data – people who are actually receiving unemployment benefits under state and federal programs – calling the Bureau of Labor Statistics’ survey-based report a liar. And we’ll go through them.
What the Labor Department reported today:

The total number of people who continued to receive unemployment compensation in the week ended June 27 under all state and federal unemployment insurance programs, including gig workers, surged by 937,810 people in the week, to 31.49 million (not seasonally adjusted), the highest and worst and most gut-wrenching ever:




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Reply Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics. (Original post)
alwaysinasnit Jul 2 OP
OneBlueDotBama Jul 2 #1
alwaysinasnit Jul 2 #2
OneBlueDotBama Jul 2 #3
alwaysinasnit Jul 2 #4
Laelth Jul 2 #5


Response to OneBlueDotBama (Reply #1)

Thu Jul 2, 2020, 04:58 PM

2. Thanks! I was in too much of a rush. I will edit.

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Response to alwaysinasnit (Reply #2)

Thu Jul 2, 2020, 05:00 PM

3. Mr. Richter is a great source of unspinning. n/t

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Response to OneBlueDotBama (Reply #3)

Thu Jul 2, 2020, 05:01 PM

4. +1000

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Response to alwaysinasnit (Original post)

Thu Jul 2, 2020, 05:02 PM

5. k&r for the truth, no matter how depressing it may be. n/t

-Laelth

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