New jobs report is out. The media is talking about an “unexpected” increase in the unemployment rate.
BREAKING: The August jobs report is in – and the unemployment rate took an unexpected jump. https://t.co/RdBk7ndt4m pic.twitter.com/pwhbGqZOiw
— Fox News (@FoxNews) September 1, 2023
What’s unexpected about it?
All we have seen throughout the year is companies laying off huge numbers of employees. Higher unemployment is totally expected. The only thing unexpected about this report is that the statisticians were unable to cook the numbers in such a way to prevent their fake unemployment rate from going higher.
Pretty much every number reported this year has been fake and was later revised.
June payrolls originally reported: 209K
June payrolls revision one month later: 185K
June payrolls revision two months later: 105K.Yes, what was originally a "strong" 209K has been deflated to 105K two months later (original exp was 230K).
— zerohedge (@zerohedge) September 1, 2023
Terrible numbers in Aug #JobsReport and it gets worse with the increasingly suspicious "revisions"…
Here's a deep-dive, plain English 🧵 with what you need to know… pic.twitter.com/3Pdba7u1gb— EJ Antoni (@RealEJAntoni) September 1, 2023
The economy is in terrible shape.
Real unemployment is probably around 25 percent. Anybody who thinks unemployment is under 4 percent is living on another planet.
Watch Jeremiah Babe’s latest videos so you can fully appreciate how fucked everything is. He has excellent economic doom content.
