The Potemkin Economy - by Peruvian Bull
In the last few months, I’ve started to realize that there have been several strange anomalies that have popped up with the government’s employment numbers. For years, we have grown accustomed to issues with the CPI, due to the constant moving of goalposts undertaken by the Bureau of Labor Statistics, the agency. But now, it appears that the jobs are being manipulated as well, to portray the facade of a strong and booming economy, when the story is more complex beneath the surface.
The Dollar Endgame is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
I first noticed this issue last year when the New York Post discovered that a massive 439,000 jobs were quietly removed from last year’s data up to November 2023.
In August 2023, the Bureau of Labor Statistics had released an initial revision covering the 12 months leading up to March 2023, revealing that U.S. job growth during that time was overstated by a net of 306,000 jobs. This translates to an average of 25,500 fewer jobs per month during that period.
