The government has apparently been using Common Core math in calculating the employment statistics, the Philadelphia Federal Reserve has revealed.
According to the Philly Fed, the actual employment statistics from March to June of this year in 33 states and the District of Columbia were significantly different from what the Bureau of Labor had estimated.
Their report found that "In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. Current Employment Statistics estimated net growth of 1,047,000 jobs for the period.
Of note, the second quarter of the year, where there was no job growth despite the government saying otherwise (pictured above) was also the second consecutive quarter where there was negative economic growth. The shorthand definition of a recession has always been "two consecutive quarters of negative economic growth,” but the Biden administration tried to dismiss that definition on the basis that the labor market wasn't cooling off despite that negative growth.
Philly Fed: U.S. Economy Added Over One Million FEWER Jobs Than Government Statistics Claim
by: Matt Palumbo, December 21, 2022The government has apparently been using Common Core math in calculating the employment statistics, the Philadelphia Federal Reserve has revealed.
According to the Philly Fed, the actual employment statistics from March to June of this year in 33 states and the District of Columbia were significantly different from what the Bureau of Labor had estimated.
Their report found that "In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. Current Employment Statistics estimated net growth of 1,047,000 jobs for the period.
Of note, the second quarter of the year, where there was no job growth despite the government saying otherwise (pictured above) was also the second consecutive quarter where there was negative economic growth. The shorthand definition of a recession has always been "two consecutive quarters of negative economic growth,” but the Biden administration tried to dismiss that definition on the basis that the labor market wasn't cooling off despite that negative growth.
快餐店以后都是机器人。低端工作都没啦。