First of all, I never said that 3.2 million jobs have been added since July and I also didn't offer my opinion. I was quoting the statistics from the Bureau of Labor Statistics - the official agency for compiling these numbers. You are using numbers from a different entity to claim that the BLS numbers were off. However, even the Philadelphia Fed said you should not use their stats to compare to the BLS stats because they use completely different methods to calculate the job numbers. This means you can't say the BLS was wrong.
"The gap is influenced by different methodologies and adjustments, and the Philly Fed noted that its sum-of-states figure shouldn’t be compared to the Bureau of Labor Statistics’ nationwide estimate.'
There’s a conundrum in the United States’ labor market. A study published by the Philadelphia Federal Reserve last week said 10,500 new jobs were added in the second quarter of 2022. Yet the national statistics bureau had previously reported a total over the same period of more than 1 million...
www.reuters.com
This Sr. Economics reporter at CNBC said the same thing.
I waited until now to respond so I could see the updated numbers for November since they update the numbers twice in the two months following the initial release, on the 3rd of each month. As you can see, the BLS did revise their numbers DOWN for the 2nd quarter and you can also see that the numbers were revised UP for November. The first adjustment for December was also revised UP. This means there were actually
4.5 million jobs added in 2022. *numbers shown in thousands below.
LOL
The Labor Department published its monthly jobs report for January at 8:30 a.m. ET on Friday. Here are the highlights, compared to Wall Street estimates.
news.yahoo.com
No matter how you slice it, the job market is roaring like nothing we've seen before and prices are still falling. Even if the Jan job numbers are off by 200,000 the fact remains the same. We are not heading for a deep recession and the news is mostly good - even you should be able to recognize that.
I did not agree to a bet because I can't independently verify the numbers the BLS is using, I am only repeating them. You nor I know if they are right or wrong but you can't dispute that the trends make me more right than you are.
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