US Labor reported 303,000 new jobs added in March and shocked all economists since it shot passed the expected 212,000 jobs and unemployment drop slightly to 3.8%.
Brandon took this report and padded his back by X-ing:
three years ago, I inherited an economy on the brink. With today's report of 303,000 new jobs in March, we have passed the milestone of 15million jobs created since I took office. That's 15million more people who have the dignity and respect that comes with a paycheck. 
First off - unemployment rate is calculated by the unemployed divided by the whole labor force and multiplied it by 100. A person is consider unemployed if they are available, willing and looking for work.
So, if you gave up looking for work and stop looking for work, you are no longer counted as unemployed. -Bookings.edu Furthermore, the unemployment rate was 3.5 before the pandemic - it rose to 14.8 because many businesses were forced to closed down. It drops to 6.3 in 2021 and slowly declining as the pandemic is winding down. From Jan. 2020 to Jan. 2021. approx. 5.5million drop out of the labor force. During the same stretch, the number of people reporting "Not at work for other reason" jumped from approx. 600,000 prior to the pandemic to over 8 million.
So, exactly where did all those 303,000 'new job' came from? Well... what the Leftie/Demmie media and Brandon don't tell you is that these new jobs are actually majority part-time jobs that already-employed people took as a second income to make ends meet - as a result of high inflation and high costs of consumer good brought on by BBB policies.
https://fred.stlouisfed.org/series/LNS12500000If you look at the Fed Reserve data (April 2023-March 2024), those that work full time actually drop significantly (134.7million to 133.2million) from Nov. 2023 to Dec. 2023. This is strange because people usually don't quit their job right before the holiday and bonus payout. So, why the sharp drop? It's because people were being laid off - not quitting their jobs at all. And if you continued to look at the data, full time employment have been declining from Jan. to March of 2024. And majority of these new jobs are in the gov't and health sectors.
Now, if you go to Zerohedge, you'll see that full-time job declined by 6,000 while part-time increased by 691,000 in March.
So, don't believe in all the hype from the Leftie/Demmie media and Brandon that claimed the economy is great...
Topic: How the Leftie/Demmie Media distort numbers... (Read 59 times)