Bloomberg Caught Intentionally Using Stale Data

From Bloomberg, Today, March 9^th, in an article praising the brilliance of the Fed and claiming payrolls smashed estimates again:

Bloomberg - New US Job Numbers Point to Fed’s Soft Landing Goal

But check the “Note” at the bottom of the chart – “Totals are initial figures, before revisions” – This was Bloomberg placing a disclaimer on their chart that effectively translates to these numbers are stale and significantly overstating the appearance of the economy

Why can I write this without fear of reprisal from Bloomberg? Because it’s true.

The downward revisions for the January jobs numbers were massive – and Bloomberg preferred the higher fake number that BLS originally reported as it painted a rosier picture. 

Zerohedge remarked on the massive revision with a splash of sarcasm:

Before we go any further, a quick note on what last month we said was "the most ridiculous jobs report in recent history": it appears the BLS read our comments and decided to stop beclowing itself. It did that by slashing last month's ridiculous print by over a third, and revising what was originally reported as a massive 353K beat to just 229K, a 124K revision, which was the biggest one-month negative revision in two years!

The Bloomberg chart above reflects the original 353k number, not the revised number of 229k and the footnote confirms Bloomberg was intentionally misreporting the data. 

As people suffer from inflation and job loss, our main stream media finds Biden’s economy to be simply unstoppable, yet for many, the economy has literally stopped.

Some selected information from the Zerohedge article:
 

• In February, the number of native-born workers tumbled again, sliding by a massive 560,000 to just 129.807 million. When summing up the December data with January and February, native born jobs fell 2.4 million over these three months.

 

• “The offset? A record 1.2 million foreign-born (read immigrants, both legal and illegal but mostly illegal) workers added in February!”

 

• The BLS reports that in February 2024, the US had 132.9 million full-time jobs, which is less than the 133.2 million full-time jobs one year ago.

 

• The BLS reports that in February 2024, the US had 27.9 million part-time jobs compared to 27.02 million part-time jobs one year ago – hence, net job growth has been in part-time jobs, indicating that lower skilled jobs are being filled, which is consistent with the large expansion of unskilled criminals, terrorists and other illegal aliens entering the U.S. during a recession.

As the Jobs numbers are stretched more and more in an effort to keep President Trump out of office, see also The Means for BLS’ Manipulation of Inflation and GDP.  The economic numbers generally coming from this administration are strongly biased to reflect a healthy economy.  Inflation, GDP and Jobs numbers are all much weaker than stated.