|
|
|
|
|
by h2zizzle
107 days ago
|
|
>There is a separate issue where for the last 2-3 years, the BLS's later revisions to jobs numbers have been almost entirely downward, instead of evenly distributed like they used to be, indicating some kind of systemic methodological issue, maybe some secular change in how labor markets work post-covid The Biden administration pulled out all the stops (without resorting to outright corruption, like Trump) to get ahead of the fact that we briefly entered a recession in 2022 (which would not have been as brief if it had been correctly identified as the recession that it was). They changed how they calculated inflation around this time, which coincided with headline staying below 10% even though it had been trending higher and likely was much, much higher for parts of the country. I have no issue with the notion that they also changed the way that they calculated job growth and then, surprise, numbers are good (but then get revised down later when no one cares anymore). |
|