https://www.zerohedge.com/markets/philadelphia-fed-admits-us-payrolls-overstated-least-800000

The first red flags emerged in the summer of 2022: that's when the Biden Labor Department started well and truly rigging the labor market data.

Regular readers may recall that it was back in July of 2022, when we first warned that something had "snapped" in the labor market: that's when a striking discrepancy emerged between the number of US Payrolls (as measured by the BLS' Establishment Survey, a far more crude and imprecise, yet much more market-moving data series), and the number of actual Employed Workers (as measured by the BLS' far more accurate Household Survey) . As we showed then, after the two series had tracked each other tick for tick for years, a wide gap opened in March 2022 which quickly grew to 1.5 million jobs in just 3 months...



... one which has since exploded to a whopping 5 million "employed workers" that apparently do not exist.



And while some of this discrepancy could be explained with the record surge in multiple jobholders, which increased by 1 million since March 2022 to an all time high of 8.6 million at the end of 2023 (as a reminder, the Establishment Survey counts 1 worker have 2 or 3 (or more) multiple jobs as, well, 2 or 3 (or more) separate jobs, even if it is just one worker trying to make ends meet under the roaring inflation of Bidenomics), most of the gap remained unexplained.

There was more: it was around the summer of 2022 that the Biden labor department - in its zeal to show job growth no matter the cost, or quality of jobs - also started fooling around with the composition of the labor market, with most of the monthly gains going to part-time workers, even as full-time workers stagnated or declined. The culmination, as we reported earlier this month, is that in February 2024, the US had 132.9 million full-time jobs and 27.9 million part-time jobs. Which is great... until you look back one year and find that in February 2023 the US had 133.2 million full-time jobs, or more than it does one year later! And yes, all the job growth since then has been in part-time jobs, which have increased by 921K since February 2023 (from 27.020 million to 27.941 million).



Rest at link.

Link to Fed paper:  https://www.philadelphiafed.org/-/media/frbp/assets/surveys-and-data/benchmark-revisions/2023/early-benchmark-2023-q3-report.pdf?la=en&hash=47BC6E4331A5DDB9953B8E912C8B9B8E

Wait, are you trying to tell me that the hard working dedicated public servants at the Office of Management and Budget would lie to The American People(TM) for political purposes?

Hogwash!

Good day, sir!

Will they be brought to trial for inflating the numbers?   Well Laticia?

Strip
Them and put them in the back seats of a fleet of Suzuki samurai
And send them to downtown Juarez with a sign around their necks saying



KIDNAPPER

Wait...

You mean that the Biden regime has been lying to us?

Really?

Say it ain't so, Joe...

(ha ha ha ha ha - Obamunist shitheads are liars - who wudda figured that?)

It is about the same argument she is making.  The discrepancy is because the media uses 2 different reports generated by 2 different agencies to show 2 different things, like asking price vs tax assessed value.  Both numbers are highly manipulated but nothing will be done about it.  My state one was with one of the biggest discrepancies but there has been no major correction to the numbers.  The article tries to explain the difference.  The payrolls or job creation numbers are "how many jobs were filled".  If someone starts working a second job they counts as 2 jobs on the payroll report but the household survey just asks "are you working" and that person only counts as 1 job.  

The jobs number needs to be compared to the Labor Force Participation Rate.  If that rate barely moves but Biden claims "I created 5 million jobs" then really he just forced 5 million people to start working a second job.

Something else to consider is all the people who are illegally in the country.  The left keeps talking about giving them jobs and even Tyson chicken said they are hiring illegals.  Those illegals would count as a payroll job but they would not show up in the household report since they can't legally work.  I bet that is the biggest reason for the discrepancy.

Wait until high minimum wage breeds the use of AI & robotics for repetitive jobs.  While illegals push cheap labor supply, policy will suppress much demand.  Women & young adults will suffer the most. Karens and young progressives voted for this.

We have always been at war with Eastasia.

All through Covid I was told “everywhere is hiring” and both during the last 2 years of Trump and all of Biden “everywhere was hiring”. I don’t believe that as I know multiple people who couldn’t even get hired at McDonald’s.

Pravda were amateurs compared to what we have.

I swear I saw something a couple months ago claiming all the job growth over the last few years is being taken by non-Americans. The graph looked just like the one in the OP.

OP, good on you for providing the original source.

There has been no official report of how many illegals are working.  It didn't hit me until Tyson publicly said they would be hiring them.  Until that number is accounted for all the reports are going to be off.

When the numbers from “them” can’t be trusted, no numbers from “them” can be trusted.

Well it was linked in the original article.

Here is a link to the excel data that was also in the article.  https://www.philadelphiafed.org/-/media/frbp/assets/surveys-and-data/benchmark-revisions/2023/early-benchmark-2023-q3-data.xlsx?la=en&hash=563A3D67197C1570BC48E76129B1417D

Same as it's always been...figures don't lie, but liars figure... Tell them what you want the numbers to show, and they will make it happen.

He who controls the numbers wins.

They claim Crime numbers are down too.

I would assume the model that is higher includes people who are paid cash and aren't on a payroll, like illegals or people on SSDI.