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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow did we get 501,000 fewer jobs than reported by this White House?
Doesn't that seem like a huge number to be off in one year?
Was the false reporting on purpose or a glitch in the system? I tend to think the former.
Obama's job numbers were already ahead of Trump's, even before this story came out yesterday.
Who were they trying to fool? Did they think no one would ever catch the discrepancies in their numbers?
After a trillion dollar tax cut, this is not good news for those crowing about the "great economy".
Thomas Hurt
(13,903 posts)that is what this was I believe a "better" estimate.
Wounded Bear
(58,698 posts)This is a new twist, and it sounds like some companies may have been misreporting something somewhere.
Hoyt
(54,770 posts)would the WH allow this revision to be released, now?
There was actually a larger downward revision in 2009.
But, I do agree that whatever the economic results are under trump, it was because of Obama's economic carryover.
Historic NY
(37,452 posts)The economy has been sputtering along but there has been a feeling something just wasn't right. Consumer sentiment is down.
Historic NY
(37,452 posts)Who is the Sec. of Labor?
J P Morgan Chase job estimates off 40k a month, really.
So none of these supposed estimates made off these numbers is accurate.
Like over-estimating the value of golf courses.
Meadowoak
(5,556 posts)That the numbers were wrong.
mathematic
(1,439 posts)The employment numbers come from a statistical model. That model is constantly updated with more data to improve the accuracy of the model. That's what happened here. The adjustment was -.3%, which is a higher magnitude than normal but not out of the ordinary. In the past 10 years the biggest magnitudes have been 2009 -.7%, 2010 -3.%, and 2012 .3%.
Also note that the final adjustment made this year for past data was released in march and showed essentially no adjustment necessary (less than .05%). The figure announced yesterday was a preliminary figure for next year's adjustment (which will affect data from 2018 & 2019).
Here's an article from the BLS describing the process:
https://www.bls.gov/opub/mlr/2017/article/benchmarking-the-current-employment-statistics-national-estimates.htm
harumph
(1,910 posts)smirkymonkey
(63,221 posts)by the White House. Nobody should ever take them seriously. Anyone who is paying attention knows that the economy isn't great for anybody but the very wealthy. Trump is a third-rate con man. Why anyone believes anything this man says is a mystery to me.
AncientGeezer
(2,146 posts)Voltaire2
(13,123 posts)And is larger than usual but it is just noise.
kentuck
(111,110 posts)500,000 jobs lost would be about 40,000 jobs per month.
If they were to report 280,000 jobs per month and it was really only 240,000 per month, that seems like that would be about 14%?
How do they come up with 0.3%?
Farmer-Rick
(10,202 posts)40,000 could wipe out a quarter of the job growth. It seems like a larger percent than 0.3%.
Voltaire2
(13,123 posts)Which is around 170 million. It is also a preliminary revision. It is the largest readjustment since 2009, but it is not evidence of Hair Shitler messing with the stats, it might signal that there is turmoil in the economy.
dsc
(52,166 posts)the number of jobs would be the correct base.
Voltaire2
(13,123 posts)Inventing idiotic conspiracies when there are obvious and overt and real acts of malfeasance almost every day isnt helpful.
uponit7771
(90,359 posts)AncientGeezer
(2,146 posts)uponit7771
(90,359 posts)AncientGeezer
(2,146 posts)Please don't forget...Nancy Pelosi was SotH and Harry Reid was Majority Leader in the Senate....and had been since Jan'07....and the Shrub signed everything he could get his hands on
Claritie Pixie
(2,199 posts)malaise
(269,157 posts)LIARS for the Con
AncientGeezer
(2,146 posts)I call this a good deal...a Federal agency correcting the record..
malaise
(269,157 posts)Give thanks
AncientGeezer
(2,146 posts)They Didn't lie for the orange dumpster....BLS corrected the record.
malaise
(269,157 posts)These are corrected figures
AncientGeezer
(2,146 posts)BLS is Openly publishing the correction....I don't see the down side.
A .3% error is being reported by the agency that made the reporting error...taking ownership of the mistake...what more should they do?
Farmer-Rick
(10,202 posts)Have we had 13.3 million jobs each month this year?
Voltaire2
(13,123 posts)Not 0.3% of the total change to that pool.
Farmer-Rick
(10,202 posts)Thanks.
Yo_Mama_Been_Loggin
(108,168 posts)Only answer I can think of.
AncientGeezer
(2,146 posts)Mc Mike
(9,115 posts)Kurt V.
(5,624 posts)democratisphere
(17,235 posts)at140
(6,110 posts)and I do not understand how the number was off by half a million.
obviously their models suck.
customerserviceguy
(25,183 posts)they pull a number out of their ass, and fix it later. This isn't just the Trump administration, they've been doing this for as long as I've been aware of the statistic.