February 04, 2022

Fake Job Growth Numbers

Timothy Birdnow

On Facebook there was a discussion about the decent jobs report.

A man named Bill Judge made the obvious connection:

An obvious con job by the government. The ADP report, a private company report, showed a loss of 300,000 jobs. The factory output report also showed a contraction - employers don't hire people while they are producing less. I'll attach a report on that. This "great jobs report" will be revised downward next month without fanfare. It is like we live in the Soviet Union. We can't trust anything the government says.
https://www.plantservices.com/industrynews/2022/u-s-factory-output-declined-in-december/

Another tell - the market would have jumped up with the "good news" if it were true. It's pretty much flat right now after having absorbed ADP's report earlier this week.

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