DATA being revised after-the-fact to give a false impression things are good
Snippet of Article: "...what we find is that in January, the number of native-born worker tumbled again, sliding by a massive 560K to just 129.807 million. Add to this the December data, and we get a near-record 1.9 million plunge in native-born workers in just the past 2 months!...For those asking, the revisions were unambiguously designed to give the impression that the labor market is slowing much less than it is. Consider this: before the revision, the average monthly job gain in 2021 was largely unchanged (606K pre-revision vs 604K post), and while the average monthly gain in 2022 was revised lower (from 399K to 377K), this was purposefully goalseeked to make 2023 appear stronger, and indeed the average monthly increase in 2023 has been revised from 225K to 255K.
Which would be great, if only it wasn't almost entirely due to the BLS's latest choice of seasonal adjustments, which have gone from merely laughable to full clownshow, as the following comparison between the revised BLS Payrolls number and the ADP payrolls show: the trend is clear: the Biden admin numbers are now clearly rising even as the impartial ADP (which directly logs employment numbers at the company level and is actually far more accurate), shows an accelerating slowdown. ..."
