United States Job report

[Bande]

Why would the Jobs Report be over exaggerated for the last Year.
Seems as though when issues arises of wrong numbers it would be fixed and resolved. As in not a continuous issue.


Jobs report exaggerated the increase in U.S. hiring in 2023

Sizzling labor market not quite as hot as it seemed. Good, Just not as Hot as made out.

Official U.S. employment reports chronically overstated how many jobs were created each month in 2023.

1 Example is June was stated to have 209,000 jobs was revised to actually be 105,000 jobs.

There has been a constant revision 30 - 60 days after initial announcements on the U.S. job reports..

Most Americans will not notice the revisions and go with initial announcements not batting a eye.

[Blkfyre]

Why would the Jobs Report be over exaggerated for the last Year.
Seems as though when issues arises of wrong numbers it would be fixed and resolved. As in not a continuous issue.


Jobs report exaggerated the increase in U.S. hiring in 2023

Sizzling labor market not quite as hot as it seemed. Good, Just not as Hot as made out.

Official U.S. employment reports chronically overstated how many jobs were created each month in 2023.

1 Example is June was stated to have 209,000 jobs was revised to actually be 105,000 jobs.

There has been a constant revision 30 - 60 days after initial announcements on the U.S. job reports..

Most Americans will not notice the revisions and go with initial announcements not batting a eye.

Sources would be nice so we could check the rest of the story. But hey, why have proof right?

https://www.marketwatch.com/story/jobs-report-exaggerated-the-increase-in-u-s-hiring-in-2023-8f3fcfc1


"What's going on?

Some economists blame the low level of response by businesses surveyed by the Bureau of Labor Statistics to determine how many jobs are created each month.

"Low response rates to the BLS's monthly establishment survey have been an issue since the onset of pandemic and continue to diminish the reliability of the initial estimate of job growth in any given month," contended Richard Moody, chief economist of Regions Financial.

Take the December jobs report, when the government reported a bigger-than-expected 216,000 increase in new jobs.

The so-called collection rate — the share of businesses that responded — matched a 32-year low of 49.4%.

By contrast, the average collection rate for the preliminary jobs report was around 73% before the pandemic.

Most businesses, in fact, do turn in their employment surveys eventually. The collection rate after the third and final estimate of a monthly jobs report is stable at 90%-plus.

The big question is why so many respond so late.

Survey fatigue is one reason. The pandemic has also made it harder for the BLS to get in touch with businesses to get them to enroll in the survey. And sometimes the people at the companies who respond to the survey work from home and do not respond as quickly."

So, no big conspiracy, just slow/no response from the people who were reporting thus hampering predictions by not providing adequate data.

[Danno]

I dont know anyone without a job that wants one.
Farmers are begging for workers..
So what is Trumps plan to increase employment?
And it's not tariffs,  that was a disaster

[Bande]

I dont know anyone without a job that wants one.
Farmers are begging for workers..
So what is Trumps plan to increase employment?
And it's not tariffs,  that was a disaster

This post was nothing about Trump.
A simple ?

[Bande]

Sources would be nice so we could check the rest of the story. But hey, why have proof right?

https://www.marketwatch.com/story/jobs-report-exaggerated-the-increase-in-u-s-hiring-in-2023-8f3fcfc1


"What's going on?

Some economists blame the low level of response by businesses surveyed by the Bureau of Labor Statistics to determine how many jobs are created each month.

"Low response rates to the BLS's monthly establishment survey have been an issue since the onset of pandemic and continue to diminish the reliability of the initial estimate of job growth in any given month," contended Richard Moody, chief economist of Regions Financial.

Take the December jobs report, when the government reported a bigger-than-expected 216,000 increase in new jobs.

The so-called collection rate — the share of businesses that responded — matched a 32-year low of 49.4%.

By contrast, the average collection rate for the preliminary jobs report was around 73% before the pandemic.

Most businesses, in fact, do turn in their employment surveys eventually. The collection rate after the third and final estimate of a monthly jobs report is stable at 90%-plus.

The big question is why so many respond so late.

Survey fatigue is one reason. The pandemic has also made it harder for the BLS to get in touch with businesses to get them to enroll in the survey. And sometimes the people at the companies who respond to the survey work from home and do not respond as quickly."

So, no big conspiracy, just slow/no response from the people who were reporting thus hampering predictions by not providing adequate data.

You are a smart man and know how to do a search. Do it I know you can. And stay to the subject please.
Every Jobs report for the last year has been updated with less than what was posted.
Every time sources posted you want to bash them.
And please stay to subject.  Much of what your reply had nothing to with post.
Slow/no response has nothing to do with real data. Data that seems to be inflated.
Why would one inflate real data. 1 thing I can think of, and this is a FACT, Politicians think the average voter is Stupid and has short memories, so, when the real data is posted it is pretty much overlooked.

[dogwalker]

I don't need a job so I don't care.

[bats]

1 thing I can think of, and this is a FACT, Politicians think the average voter is Stupid

They're not wrong.

[Blkfyre]

You are a smart man and know how to do a search. Do it I know you can. And stay to the subject please.
Every Jobs report for the last year has been updated with less than what was posted.
Every time sources posted you want to bash them.
And please stay to subject.  Much of what your reply had nothing to with post.
Slow/no response has nothing to do with real data. Data that seems to be inflated.
Why would one inflate real data. 1 thing I can think of, and this is a FACT, Politicians think the average voter is Stupid and has short memories, so, when the real data is posted it is pretty much overlooked.

Your post was about the over reporting of the Jobs Report. My link and test was WHY the over reporting happened.

How is that not on topic?