The Employment Numbers Are being Fudged, So Says Jerome Powell

[Wiz Imp]

12. You sound exactly like Trump

and just like Trump, you have no idea what you are talking about. Powell did not assert that the data was being "fudged". He believes the estimates are being over-estimated. Completely different. He is not accusing anyone of intentionally changing numbers. He believes that the estimation process (which HAS NOT CHANGED) is not accurately capturing job movements.

For the record, In August 2024, Trump claimed

"MASSIVE SCANDAL!" he wrote. "The Harris-Biden Administration has been caught fraudulently manipulating Job Statistics to hide the true extent of the Economic Ruin they have inflicted upon America. New Data from the Bureau of Labor Statistics shows that the Administration PADDED THE NUMBERS with an extra 818,000 Jobs that DO NOT EXIST, AND NEVER DID."

By your very own logic he must have been telling the truth because the jobs numbers were legitimately revised downward (but by a slightly smaller 589,000). So apparently you believe the Biden administration "fudged" the data, right?

Of course you don't and they did not manipulate anything. But BLS definitely did overesitmate jobs during 2023 & 2024. However, contrary to what Trump claimed, the numbers wer not manipulated. What Powell said now is the equivalent of saying he believes the job numbers will be revised downward significantly this year as well when the benchmark is applied. Unlike Trump, he is NOT claiming the numbers were manipulated (and they haven't been). Powell is much smarter than to make an idiotic accusation like that. He knows that BLS has continued to produce honest numbers. The fact that the estimation process has not been real accurate lately has nothing to do with "fudging" the numbers.