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> Official numbers about the job market show a relatively stable labor economy with stronger than expected job growth in January — more than half of jobs added
by csomar 8mo ago
> Official numbers about the job market show a relatively stable labor economy with stronger than expected job growth in January — more than half of jobs added were in health care — and a slight drop in the unemployment rate to 4.3%, or 7.4 million people.
This is why people keep hearing "the job market is fine" and believing it. The headline numbers are misleading.
Look at last year: official figures reported 600K+ new jobs, which were later revised down to 181K. It's not statistical noise. That's a systematic pattern of overstating job growth that's been happening since the Biden administration, with virtually no accountability. Of course current admin is going to like it.
This month is no different. The report shows strong hiring concentrated in health care, which already seems odd and it directly contradicts ADP data showing only modest job gains. That gap almost certainly means another revision is coming. But here's the thing: revisions rarely make headlines. The inflated original numbers do.
tl;dr: The job market isn't strong. The numbers are cooked.
- macintux 8mo agoThe Trump administration feels that accountability is only for the people who report accurate data. They get fired.