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Hmmm. Labor Market Implodes: Job Openings Crater, Prior Data "Unexpectedly" Revised Sharply Lower

EVERY INSTITUTION HAS BEEN CORRUPTED: These BLS downward revisions have become a bad habit — or something worse. “Worse, had the BLS not drastically slashed the May number from 9.582MM to a laughable 9.165MM, the drop would have been almost 800K job openings. And yes, today’s downward revision… continues the recent trend of every single data point in the Biden administration being revised sharply lower in subsequent month(s), in a coordinated propaganda attempt to make the economy look stronger, then quietly revise it away when everyone forgets.”
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Reuters uses less histrionic language

https://www.reuters.com/world/us/us-job-openings-july-post-third-straight-monthly-drop-2023-08-29/

Nevertheless, labor market conditions remain tight, with 1.51 job openings for every unemployed person in July, compared to 1.54 in June. While that was the lowest ratio since September 2021, it is well above the 1.0-1.2 range considered consistent with a jobs market that is not generating too much inflation. Layoffs are very low by historical standards.
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Weird enough......I am part of the labor.market and have not yet imploded.
 
KeithD said:
The economy is fine and is improving. Thank god Biden is president and Trump isn't.
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You couldn't be more full of shit:

Gas rises 63 cents a gallon in 2023 as gloomy data casts doubt on rosy ‘Bidenomics’ tour​

Is "Bidenomics" working? The White House says "yes," but fiscal experts are saying "hey, not so fast.”
https://justthenews.com/nation/econ...te-hikes-loom-wh-continues-touting-bidenomics

Bidenomics: Food prices expected to rise through 2024​

While 2022 saw the largest spike, prices had already begun rising earlier in the Biden administration.

https://justthenews.com/nation/states/center-square/food-prices-expected-rise-through-2024
 
*snicker* justthenews 'n Zero Hedge....when you absolutely positively have to post the worst possible "hot take"....
 
Rightguide said:
Have you bought any gas lately? Do you doubt the USDA and the U.S. Bureau of Labor Statistics Consumer Price Index?
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Why does the price of gas bother you? It doesn't bother me, and our gas prices are always higher than yours. I thought you claimed you paid more money in taxes then I make???

Christ, get your gripes in order, and stop looking like a poor fucking idiot.
 
spegil said:
not histrionic

FACTS

June payrolls originally reported: 209K

June payrolls revision one month later: 185K

June payrolls revision two months later: 105K.

Yes, what was originally a "strong" 209K has been deflated to 105K two months later (original exp was 230K).
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The word imploding is absolutely histrionics
 
AI has already taken almost half a million jobs. White collar jobs are very vulnerable. Between AI, covid23, CBDC Americans are fucked.
 
spegil said:
1- If

2-Then inflation>economic slowdown>less employment
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1. They are outpacing Inflation currently.
2. Inflation typically leads to recession in the long run due to interest rate hikes
 
So, Fox rates the jobs market as 'strong'. Well done Biden!

You do know that when inserting an image you can resize it so it all fits on the screen?
 
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