Sep
9
Full-time vs. Part-time Employment, from Bill Rafter
September 9, 2024 |
Bud Conrad comments:
The US BLS understates inflation, which causes the calculation for Real GDP growth to become overstated. Thus, we have a recession going on, but it is hidden by the BLS's low inflation rate. The rich are doing well as asset prices have risen; the rest have lost ground because the cost of everything has increased more than the labor rates.
Ditto on jobs and employment that suggests there are lots of new jobs every month, but then restates the number downward in succeeding months, which accumulated to 818 K jobs that are overcounted in the year ending March.
The supposed Fed's being "data dependent" is a cop-out from thinking "How to stabilize the dollar", meaning that they claim they will use these corrupt numbers for policy decisions.
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