https://www.zerohedge.com/markets/inside-most-ridiculous-jobs-report-years
Inside The Most Ridiculous Jobs Report In Years
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… this is where things quickly took a turn for the bizarre because while the headline payrolls number was clearly - and purposefully - stellar, the unemployment unexpectedly increased from 3.9% to 4.0%.
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… not least of all because it accounts for the grotesque data manipulation by the BLS in the form of the ridiculous monthly Birth/ Death adjustments, which even Bloomberg now admits are artificially inflating the monthly jobs print by about 100K. To get a sense of just how unprecedented this statistically manipulation is, consider that the birth-death model has added 1.9 million jobs since last April, or a whopping 56% of all payrolls added during this period. This means that more than half of all "job gains" in the past year are from an excel spreadsheet which assumes that 1.9 million new jobs were created from new businesses.
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Here is another visualization of the labor composition in the past year: 1.2 million full-time jobs have been lost, replaced by 1.5 million part time jobs! [pic related]
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And here is just May: more of the same as 625K full-time jobs were lost in one month, replaced by 286K part-time. [pic related]
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Said otherwise, not only has all job creation in the past 4 years has been exclusively for foreign-born workers, but there has been negative job-creation for native born workers since December 2019! [pic related]
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Looking at just the past year, it's even worse: native-born workers have lost 668K jobs while foreign-born workers (mostly illegals as we now know for a fact) have gained 934K jobs. [pic related]
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.. and is about to become a huge political scandal, because once the inevitable recession finally hits, there will be millions of furious unemployed Americans demanding an explanation for what happened - i.e., the illegal immigration floodgates that were opened by the Biden admin.
Which is also why the Biden admin [regime] will do everything in his power to insure there is no official recession before November… and is why after the election is over, all economic hell will finally break loose. Until then, however, expect the jobs numbers to get more and more ridiculous.
Finally, to this point, we are delighted to observe that after everyone had been ignoring what we have been saying for the past year, namely that all job growth has gone to illegals…
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Good read. I had to cut it up quite a bit to get to the points I wanted to highlight. I encourage you to go read the article for yourselves.