Showing posts with label Jobs 2025. Show all posts
Showing posts with label Jobs 2025. Show all posts

Thursday, September 11, 2025

Looks like someone's fishing for a rate cut from the Fed with that seasonally-adjusted initial claims for unemployment disparity with not-seasonally adjusted

 


There's a lot of BS and fear-mongering being circulated about the preliminary total nonfarm payrolls benchmark revision of -911,000 from two days ago

It all betrays an inability to think

Bloomberg here said:

... The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government’s preliminary benchmark revision out Tuesday. The final figures are due early next year. ...

No, it's not at all likely.

It's a preliminary number for crying out loud, the size of which reflects more on the increasing difficulty BLS is having gathering the monthly data in more or less real time than it does on the data itself. 

Bloomberg then followed that up with a scary chart of previous preliminary benchmark revision estimates, as if those represented reality, too. And then people who should know better repeated the scary chart.

This story went particularly hysterical about it: The BLS Hallucinated a Million Jobs. The Fed Can't Fix This. 

But we've known since February what the BLS really thinks the final numbers are, in thousands, and all these irresponsible sources just leave that out, because . . . clicks:

2024: -598, not -818
2023: -187, not -306
2022: +506, not +462
2021: -7, not -166
2020: -121, not -173
2019: -489, not -501
2018:  -16, not +43
2017: +135, not +95
2016: -81, not -150
2015:  -172, not -208.
 
But what does it all mean, Bertie? 
 
Over ten years BLS is saying it overestimated in its regular monthly total nonfarm payrolls reports by a net 1.03 million jobs, not by 1.722 million as in the preliminary benchmark revision reports.
 
The reality's not even 9,000 jobs a month too many, in a payroll universe where nearly 160 million people are working, but I'm supposed to be scared because they thought it might have been more like an overestimate of 14,000 a month?
 
C'mon, man. 
 
They're doing a damn good job at BLS, and it's time more people said "thank you" for a change.
 
If you want to politicize the February benchmark data, they show Biden's record over four years had a net 286,000 fewer jobs in reality, but Trump I had 491,000 fewer.
 
But you won't hear that from this flock of idiots. 
 
  
 




 

 

Saturday, September 6, 2025

Friday's bad job report spooked Treasury buyers big time, pushing yields down 4.5% in the aggregate from the August average in a flight to safety

Average US Treasury yields by duration Fri Sep 5, 2025:

Bills 3.96

Notes 3.69

Bonds 4.75

Aggregate 3.98 (down 4.5% from Aug average).

The aggregate was already down 6.5% from January in August. The only yields still holding up had been in bonds, which gave up 11 basis points on Friday, yielding 4.75 vs. the August average of 4.86, down about 2.2%. 

The rosy scenario, which isn't rosy, is for stagflation. The worse scenario is for recession, possibly signaled by the revision to June payrolls, now down 13k.

You know, like in January 2001, but past performance is no guarantee of future results.

The point is, people are spooked. 

 

 



Friday, September 5, 2025

Trump says that a year from now the jobs numbers will be absolutely incredible

Yeah, that's what we're afraid of.

Story. 

U.S. Treasury yields tank in flight to safety after August 2025 jobs only +22k: Fed rate cut incoming

 


Donald Trump's dumb ass unemployment rate is 37.57% in August 2025, 103 million eating but not working

 


Just 49.44% had a full time job in August 2025

 You know, like in August 2016.

 


 

Let's compare the BLS' count of jobs added through August since December with the private sector ADP report

Total nonfarm gubmint: 74,750 per month

Total nonfarm private:  80,375 per month

Those rascally Democrats over at BLS, my word. 


 

Payroll report for August out this morning says jobs actually contracted in June by 13,000: Who will Trump fire now LMAO?

 Obviously more heads need to roll at the Bureau of Labor Statistics because in Trump's wonderful economy payrolls must have risen a lot more than 22k in August lololol.

 Payrolls rose 22,000 in August, less than expected in further sign of hiring slowdown

... Nonfarm payrolls increased by just 22,000 for the month, while the unemployment rate rose to 4.3%, according to a Bureau of Labor Statistics report Friday. Economists surveyed by Dow Jones had been looking for payrolls to rise by 75,000.

The report showed a marked slowdown from the July increase of 79,000, which was revised up by 6,000. Revisions also showed a net loss of 13,000 in June after the prior estimate was lowered by 27,000. ...


 

 

Sunday, August 24, 2025

Trump is so bad that Gen Z is falling in love with the guy who didn't keep us safe on 911, invented the religion of peace, gave us Michael Brown, and abandoned free market principles to save the free market system


 
 
... "Many comments on videos tagged as #Bushcore use past moments to contrast the current administration," Mohammed said. "Users are saying, 'These were like Bush's lowest moments. Somehow they tower over Trump's best,' or 'I would've NEVER thought 20 years ago … I wish he could be president again … I miss him,' representing how unhappy Gen Zers are with contemporary politics."
 
"A recent YouGov/Economist poll shows that President Trump continues to have a significantly low approval rating among young voters—61 percent disapprove. They use Bush's persona as relief, reminiscent of times when there was supposedly more empathy and community in politics," she added. ...                                                                                                                                                                                                                                                                                                                                                                      
One would think that Gen Z would be more, I don't know, REBELLIOUS or UNGOVERNABLE if it's really true that they have experienced the following awful realities.
 
One of life's great mysteries. 
 

... a typical Zoomer on the apps is getting rejected by, and rejecting, more prospective partners in a week than a typical married boomer has in their entire life.

... Ella, a 20-year-old from Allentown, Pennsylvania, applied to 12 colleges and got rejected from 10. "I had so much hubris and unfounded confidence," she says. "I just thought, well, I'll only want to go to college if I can get into a 'prestigious school.' They ask, 'Why us?' obviously, and I couldn't tell them why besides it's Harvard." In a Substack post she published before her high school graduation, she described how at odds her tenfold rejection was with her belief in simply working hard to succeed. "I thought that I was going to be someone," she wrote.

... many Zoomers apply to more jobs in a day than many lucky Boomers have in their lives. ...

More.

 

Tuesday, August 12, 2025

Trump nominates Heritage Project 2025 economist to BLS, the very guy who had openly called for the firing of Erika McEntarfer at BLS after the disastrous July jobs numbers came out

If you thought the jobs numbers were unbelievable before, just wait.

 

 
... Antoni is the chief economist at the conservative Heritage Foundation and has been a longtime critic of the BLS. ...
 
Remember when Trump said he knew nothing about Project 2025?
 
Yeah, that was a good one.
 

 
 

Thursday, August 7, 2025

The Treasury Secretary is such a kiss-ass and knows damn well that the Fed's so-called full employment mandate was a set of handcuffs put on the Fed in 1978

And why did the Congress do that to the Fed?

So the Congress could evade responsibility for high unemployment as well as for high inflation, that's why.

A bunch of cowards six ways to Sunday they are.

Besides, core personal consumption expenditures is the Fed's key metric, as everyone knows, and that is an inflation metric, not an employment metric. 

And The Humphrey-Hawkins Full Employment Act specifically recognizes that reducing inflation is the Fed's main job, actually mandating ZERO inflation, not 2% inflation as widely misinterpreted. 

Meanwhile there is another report of employment besides the total non-farm payrolls report which the Fed can consult, and it shows employment continues near all-time highs in July.

No change to DFF was the appropriate response of the Fed to persistent core inflation way above 2%.  

 

 
 
 


 

 

Saturday, August 2, 2025

Mike Shedlock, veteran critic of the BLS since the Great Recession: This is a clear case of shoot the messenger

 Did Trump Fire the BLS Head for Cause, Being the Messenger, or Something Else?

 

... “The process of obtaining the numbers is decentralized by design to avoid opportunities for interference.”

Trump wants you to believe hundreds if not thousands of people are in on the scheme and they are all silent.

The Cult sucks it up as if that makes sense.

I do not defend the antiquated procedures of the BLS. I have been writing about the flaws for years.

Yet, I can say that in all my conversations with BLS technicians (dozens over the years), I have found BLS [personnel] to be knowledgeable, courteous, and helpful. ...

 

Sorry Cultists and conspiracy theorists, the data is not rigged. And don’t pee your panties because it won’t be under Trump either (or someone will point it out).

Regardless, Trump’s tariffs ensure it will get worse. I expect many small businesses will go under. Trump has only himself to blame.