US posts another month of strong job gains in May
reuters.comIt's interesting to see such ongoing strong jobs data in the face of unprecedentedly negative sentiment[1]. Not only do the numbers fail to look as bad as the sentiment, the numbers are actually fantastic and (AFAICT) fully uncorrelated with sentiment.
I've been thinking that this is basically a result of people being overexposed to aspirational lifestyle marketing influencers--even though they're doing better than ever, they're more aware than ever that others are doing even massively better. Since it's influencer marketing, they're seeing people do better in specific ways that appeal to them instead of just being passively aware that others are richer.
Given that
(A) Trump (seemingly personally) fired Dr. Erika McEntarfer from her role as the Commissioner of the Bureau of Labor Statistics last August for a bad jobs report
(B) There have been reports that the Pentagon is at least shading and maybe plain concoting numbers about Iran war
(C) Ellison Bezos, Soon-Shiong and Murdoch have done a lot to reverse media's liberal bias
Can we believe this report of "strong job gains"?
> Can we believe this report
Yes. It’s directionally and in broad magnitude corroborated by the ADP number [1].
Thank you. It's sad that we have to do kremlinology on the US government.
In lieu of paranoia, you can always follow the labor departments of states you trust - or, like Reuters, the economists who do. https://www.pa.gov/agencies/dli/newsroom/pennsylvania-unempl...