how do they know that the "US jobs report" that showed an increase of employment in May was not just FAKE numbers?
(I mean there is no argument now (even by CNBC) that the Federal Reserve has been pumping FAKE money into the stock market to artificially or deceptively prop it up....what would put it past them to also put out a fake jobs report too to do the same thing?)
- zman492Lv 71 month agoFavourite answer
I would not call them fake numbers, but if you look at the actual report there are a couple of caveats that may cause some concern.
"The change in total nonfarm payroll employment for March was revised down by 492,000, from
-881,000 to -1.4 million, and the change for April was revised down by 150,000, from -20.5 million to
-20.7 million. With these revisions, employment in March and April combined was 642,000 lower than
previously reported. (Monthly revisions result from additional reports received from businesses and
government agencies since the last published estimates and from the recalculation of seasonal factors. A
methodological change to the establishment survey’s birth-death model contributed to the revision for March."
(bottom of page 4)
"If the workers who were recorded as employed but absent from work due to “other reasons” (over and
above the number absent for other reasons in a typical May) had been classified as unemployed on
temporary layoff, the overall unemployment rate would have been about 3 percentage points higher than
reported (on a not seasonally adjusted basis). However, according to usual practice, the data from the
household survey are accepted as recorded. To maintain data integrity, no ad hoc actions are taken to
reclassify survey responses."
(bottom of page 6)
I interpret that to mean the numbers are not as solid as they usually are.
Even with the caveats I consider the results to be better than expected.
- SteveLv 64 weeks ago
There are businesses that are responsible for taking data such as unemployment. Its what they do, so they better be good at it. I dont know their techniques, so Im hoping its accurate and honest.
- kswck2Lv 71 month ago
Well, a New York Times reporter suggested just that. And nearly Everyone jumped all over him to such an extent, he withdrew his opinion.
- dain978Lv 51 month ago
45 reported it and conservative media agreed so we know it's fake news.
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- martinLv 71 month ago
Who knows for sure, but it's obvious from the friends, neighbors, and families of all the workers that something is happening in the working world.
- Anonymous1 month ago
Does it support my favorite politician: true
Does it support other politician: FAKE NEWS FAKE NEWS