This is how the government cooks the Jobs Report

[richrf]

Originally Posted by Lycanmaster

Not sure why this is such a contentious topic.

It's been a truism that governments the world over have a vested interest in under-stating the unemployment numbers, often for fear of social instability.

Kevin Phillips (former senior strategist for President Nixon but politically independent) wrote about the deliberate fudging of the unemployment numbers, GDP and the inflation/CPI awhile back:

[Report] | Numbers Racket, by Kevin Phillips | Harper's Magazine

This deliberate mis-representation has been a feature of both Republican and Democratic administrations over past several DECADES...

Of course. It's unbelievable that people take reports from even Russia and China seriously. However, the money people know what to watch and that's the price of oil and copper as well as transport companies. Tough to fudge real numbers as opposed to made up stats.

[Lycanmaster]

Originally Posted by richrf

Of course. It's unbelievable that people take reports from even Russia and China seriously. However, the money people know what to watch and that's the price of oil and copper as well as transport companies. Tough to fudge real numbers as opposed to made up stats.

To drive the point home further:

5 Government Statistics You Can't Trust | Investopedia

And regarding China's recent GDP announcements:

What is China's actual GDP? Experts weigh in

Kinda funny that even Chinese governmental officials have admitted to not believing their reports in the past lmao