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Bureau of Labor Statistics overstated job growth by over 500,000 2018-19

Discussion in 'Political Opinions & Beliefs' started by 61falcon, Aug 21, 2019.

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  1. 61falcon

    61falcon Well-Known Member

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    The Bureau of Labor Statistics has just disclosed it overstated job growth for 2018 and early 2019 by over 500,000 jobs.The average job growth for months in 2018 and 2019 is revised downward.The article can be read on the Drudge Report.
     
    61falcon, Aug 21, 2019
    #1
  2. stratego

    stratego Well-Known Member

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    Still better than Hillary's economy
     
    Last edited: Aug 22, 2019
    stratego, Aug 22, 2019
    #2
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  3. PrincipleInvestment

    PrincipleInvestment Well-Known Member

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    That averages to a 25K downward revision per month. The unemployment rate isn't rising, and there's a surplus of available jobs. The DNC isn't even talking about job creation this cycle. For (D)'s it's been about free college to qualify for high skill job openings.
     
    PrincipleInvestment, Aug 22, 2019
    #3
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  4. struth

    struth Well-Known Member

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    As the GOP economic policies have created an economic boom, and the Mueller Report blew up their false narrative, the DNC is left with race baiting and buying votes.
     
    struth, Aug 22, 2019
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  5. 61falcon

    61falcon Well-Known Member

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    WOW !!!The UNEMPLOYMENT rate HAS FALLEN ONE WHOLE PERCENTAGE POINT since Dirty Donald was sworn in?????ONE WHOLE PERCENTAGE POINT!!!!!
     
    61falcon, Aug 22, 2019
    #5
  6. Moonglow

    Moonglow Well-Known Member

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    Bon Mot Not..
     
    Moonglow, Aug 22, 2019
    #6
  7. 61falcon

    61falcon Well-Known Member

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    This means that his claim of putting the most Americans to work in our history is another of his lies.
     
    61falcon, Aug 22, 2019
    #7
  8. rahl

    rahl Banned

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    Obama was a republican? Weird
     
    rahl, Aug 22, 2019
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  9. struth

    struth Well-Known Member

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    Nobody is talking about the guy that left office 3 years ago
     
    struth, Aug 22, 2019
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  10. rahl

    rahl Banned

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    I know. But unless trump has a time machine, he has nothing to do with the economic trend that’s remained the same since 2010.

    We’ve been over this.
     
    rahl, Aug 22, 2019
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  11. struth

    struth Well-Known Member

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    Well if you read my post I didn’t say trump. Talk about TDS
     
    struth, Aug 22, 2019
    #11
  12. garyd

    garyd Well-Known Member

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    Which of course tells us about one tenth of 1 percent of reality of course. The biggest factor in the current tight job market is the shortage of part time help that is forcing many companies to provide full time employment to many of their previous part time employees. And the reduction in taxes and regulations makes that much more affordable.
     
    garyd, Aug 22, 2019
    #12
  13. MolonLabe2009

    MolonLabe2009 Banned

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    So, you're mad it went down?

    Would you be happy if the unemployment went up?
     
    MolonLabe2009, Aug 22, 2019
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  14. MolonLabe2009

    MolonLabe2009 Banned

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    Wait! What?

    Are there not more people working today than there were in January of 2017????

    The answer is YES!
     
    MolonLabe2009, Aug 22, 2019
    #14
  15. opion8d

    opion8d Well-Known Member Past Donor

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    If you review the chart on https://www.nytimes.com/2019/08/21/business/economy/jobs-growth-revision.html it shows a generally downward trend in job growth since 2016. April 2018 through April 2019 was the period of adjustment. These are BLS numbers. The continued downward trend in job growth is especially significant given predictions of possible recession.

    The "sugar high" for the Trump tax cuts was much lower than predicted by the Trump administration. Based on the revisions, that period was negative.
     
    opion8d, Aug 22, 2019
    #15
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  16. Jestsayin

    Jestsayin Well-Known Member Past Donor

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    Shhh! you are destroying the OP's fantasy. In his/her/alphabets world everyone is unemployed and that is causing the entire west coast to become homeless.
     
    Jestsayin, Aug 22, 2019
    #16
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  17. rahl

    rahl Banned

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    You said GOP. Obama isn’t a member of the GOP.
     
    rahl, Aug 22, 2019
    #17
  18. Socratica

    Socratica Well-Known Member

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    Last time the economy average 229K jobs was 2014, so clearly something has changed in the last 5 years.
     
    Last edited: Aug 22, 2019
    Socratica, Aug 22, 2019
    #18
  19. rahl

    rahl Banned

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    Every economic metric has been on the same upward unchanging trend since 2010
     
    rahl, Aug 22, 2019
    #19
  20. struth

    struth Well-Known Member

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    Correct, I was referring to the GOP who took the House in 2010, then the Senate in 2014....I didn't say Trump. I was referrring to the GOP, not Obama.who's policies, along with a Dem Congress, gave us double digit unemployment in 2010
     
    struth, Aug 22, 2019
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  21. rahl

    rahl Banned

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    Ah, so you don’t know how bills become law. I see why you are confused now. And you were proven wrong on the double digit UE, as you know.
     
    rahl, Aug 22, 2019
    #21
  22. Socratica

    Socratica Well-Known Member

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    Obviously, you should know that "rate" of change that is important, not simply the direction of the change. Otherwise, we wouldn't need to report economic figures

    The rate of change in economy growth is different today than it was during 2010. That's not debatable.
     
    Last edited: Aug 22, 2019
    Socratica, Aug 22, 2019
    #22
  23. rahl

    rahl Banned

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    Of course it’s debatable. Every economic metric has remained on the exact same trend line since 2010. This is empirical fact.
     
    rahl, Aug 22, 2019
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  24. Socratica

    Socratica Well-Known Member

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    Maybe I should give you an example even you can understand. Let's say, from 2010 - 2017, your income has grown at a an average of 1.6%. Then, since 2017, your income has grown at an average of 2.7%. Are you then going to then suggest that the trend is "the same?"

    Replace your income with the economy and then maybe you'll how nonsensical your statements are.

    Or, maybe not.
     
    Socratica, Aug 22, 2019
    #24
  25. rahl

    rahl Banned

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    But that hasn’t happened under trump. Which is why I pointed out the trend hasn’t changed since 2010.
     
    rahl, Aug 22, 2019
    #25
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