Time for Trump to investigate and fire the BLS.@twenty "The U.S. shed 92,000 jobs in February, and previous months of job growth were not as strong as previously reported, the Bureau of Labor Statistics announced Friday in a report that will raise alarms about the state of the economy.
"'Well, that was ugly,' wrote Mark Hamrick, senior economic analyst at the financial publishing company Bankrate, wrote in a note after Friday's data release."
The U.S. economy lost 92,000 jobs in February, stoking labor market worries
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Time for Trump to investigate and fire the BLS.
Yes, I don't get it. BLS is an agency within the Department of Labor. I'm assuming he could appoint his own people to fudge the numbers. Then again, maybe they're already fudging the numbers and this is the best they could do. Lol.
Meanwhile, here's what independents say in the most recent Economist/Yougov poll:
State of the economy:
Excellent 2%
Good 15%
Fair 29%
Poor 49%
Trend of the economy:
Getting better 11%
About the same 17%
Getting worse 62%
Personal financial outlook (1 year from now):
Better off 20%
About the same 29%
Worse off 31%
Personal finances now (compared to last year):
Better now 12%
About the same 39%
Worse now 40%
Most important issue:
Inflation 26%
Jobs/economy 15%
Civil rights 9%
Health care 7%
Taxes/spending 7%
Civil liberties 7%
Climate change 6%
(Everything else 5% or less)
These numbers should scare the bejesus out of Republicans. You can post all the numbers about how the economy is strong that you want, but it won't do any good if the voters don't believe you. Ask Biden, he learned that lesson already.
Didn't he do that once already?
He did. In August. But that hasn’t stopped you unoriginal losers from going back to the well with the number fudging jokes. Despite poor numbers in front of your face.
So we can believe these numbers now?
You’ll notice the corrections of previous months have gotten smaller. Which indicates the surveying practices have gotten better.
Whatever was happening under the previous BLS head the size of the corrections was unprecedented. Do that long enough and you will definitely get shit canned.
Didn't he do that once already?
He did. In August. But that hasn’t stopped you unoriginal losers from going back to the well with the number fudging jokes. Despite poor numbers in front of your face.
So we can believe these numbers now?
You’ll notice the corrections of previous months have gotten smaller. Which indicates the surveying practices have gotten better.
Whatever was happening under the previous BLS head the size of the corrections was unprecedented. Do that long enough and you will definitely get shit canned.
None of that is true. The corrections were not unprecedented. They are a normal part of the process. They are the result of the simple fact that businesses don't get all their responses in by the deadline, so the numbers have to be revised as late returns come in. And there wasn't a long trend of major corrections under McEntarfer. There was one single month where large revisions were made to both the preceding months, and Trump got pissed, and accused McEntarfer of faking the numbers, even though doing so is functionally impossible. McEntarfer was a scapegoat, nothing more. The numbers now are just as trustworthy as they were before, no more, no less. How big the revisions swing is purely a function of how the job losses and gains are distributed among the businesses that got their responses in on time vs. the ones that didn't.
You want to see some huge revisions, go back and look at the month-to-month data from 2020 and 2021.
Didn't he do that once already?
He did. In August. But that hasn’t stopped you unoriginal losers from going back to the well with the number fudging jokes. Despite poor numbers in front of your face.
So we can believe these numbers now?
You’ll notice the corrections of previous months have gotten smaller. Which indicates the surveying practices have gotten better.
Whatever was happening under the previous BLS head the size of the corrections was unprecedented. Do that long enough and you will definitely get shit canned.
None of that is true. The corrections were not unprecedented. They are a normal part of the process. They are the result of the simple fact that businesses don't get all their responses in by the deadline, so the numbers have to be revised as late returns come in. And there wasn't a long trend of major corrections under McEntarfer. There was one single month where large revisions were made to both the preceding months, and Trump got pissed, and accused McEntarfer of faking the numbers, even though doing so is functionally impossible. McEntarfer was a scapegoat, nothing more. The numbers now are just as trustworthy as they were before, no more, no less. How big the revisions swing is purely a function of how the job losses and gains are distributed among the businesses that got their responses in on time vs. the ones that didn't.
You want to see some huge revisions, go back and look at the month-to-month data from 2020 and 2021.
The corrections absolutely were unprecedented. A million more jobs attributed to the Biden admin. then reality. I’m not alleging malfeasance. Simply incompetence.
Surveying practices are not set in stone and can be changed.
Didn't he do that once already?
He did. In August. But that hasn’t stopped you unoriginal losers from going back to the well with the number fudging jokes. Despite poor numbers in front of your face.
So we can believe these numbers now?
You’ll notice the corrections of previous months have gotten smaller. Which indicates the surveying practices have gotten better.
Whatever was happening under the previous BLS head the size of the corrections was unprecedented. Do that long enough and you will definitely get shit canned.
None of that is true. The corrections were not unprecedented. They are a normal part of the process. They are the result of the simple fact that businesses don't get all their responses in by the deadline, so the numbers have to be revised as late returns come in. And there wasn't a long trend of major corrections under McEntarfer. There was one single month where large revisions were made to both the preceding months, and Trump got pissed, and accused McEntarfer of faking the numbers, even though doing so is functionally impossible. McEntarfer was a scapegoat, nothing more. The numbers now are just as trustworthy as they were before, no more, no less. How big the revisions swing is purely a function of how the job losses and gains are distributed among the businesses that got their responses in on time vs. the ones that didn't.
You want to see some huge revisions, go back and look at the month-to-month data from 2020 and 2021.
The corrections absolutely were unprecedented. A million more jobs attributed to the Biden admin. then reality. I’m not alleging malfeasance. Simply incompetence.
Surveying practices are not set in stone and can be changed.
I think you're talking about two different things, here. One is the rolling monthly revisions done each month as data is improved. This is what got Trump in a hissy fit and got McEntarfer shitcanned. The other is the annual benchmark revision, which is the one that said we had to revise down job gains in 2024 by about 900K, which I assume is what you are trying to refer to with your Biden remark.
FWIW, the final report isn't out yet, but the preliminary numbers suggest 2025 is going to score a similarly depressing revision down.
Survey methods should always be improved, but if you think these revisions highlight some sort of problem with the method or competence of the leadership of BLS, you don't understand statistics. The revisions are due solely to the fact that reports are released in real time as estimates, and they have to be adjusted as more data come in. That's it.
With surging gas prices
Did some driving yesterday. Filled up yesterday morning for $3.09. Filled up again this afternoon for $3.59.
With surging gas prices
Did some driving yesterday. Filled up yesterday morning for $3.09. Filled up again this afternoon for $3.59.
Here in Bton, before the attacks gas was $2.79. The Monday after it was $3.29 and by Friday it was $3.59. Several talking heads have said $4.00 gas is just around the corner, and $5 gas isn't out of the question if things totally go to shit in Hormuz.
Crude Oil Prices Soar Past $100 A Barrel Amid U.S., Israeli Strikes On Iran
Thanks, Don.
Crude Oil Prices Soar Past $100 A Barrel Amid U.S., Israeli Strikes On Iran
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With surging gas prices
Did some driving yesterday. Filled up yesterday morning for $3.09. Filled up again this afternoon for $3.59.
Here in Bton, before the attacks gas was $2.79. The Monday after it was $3.29 and by Friday it was $3.59. Several talking heads have said $4.00 gas is just around the corner, and $5 gas isn't out of the question if things totally go to shit in Hormuz.
https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcR9IfKbSZ1J7fuz4q4qj1KLVgNpB3BgzV6B6w&s
.