There's no unemployment if we fire everyone at BLS! - ThreadSky

joshuajfriedman.com • 3 days ago

There's no unemployment if we fire everyone at BLS!

It seems almost unavoidable at this point that we are headed for a deep, deep recession. Just based on 200K+ federal firings & pullback of contracts, the March employment report (to be released April 4) seems certain to show bigger job losses than any month ever outside of a few in 2008-9 and 2020.

Comments

niftyfire25.bsky.social•3 days ago

I’m an economist at BLS we do great work.

Also you’d have to fire census bureau workers, they collect the household portion of the employment report

eddie2721819.bsky.social•3 days ago

Good luck to the 70% of American voters that by omission or commission returned Trump to office.

evensong.bsky.social•2 days ago

Odds that the unemployment figures will be sharpied are pretty high.

ironweed.bsky.social•3 days ago

I always assumed that Finance Guys knew where their financial data comes from and why it is important for it to be something other than A Really Big And Beautiful Number, Folks, The Best We've Ever Seen, but maybe not?

golbar.bsky.social•3 days ago

They did say they wanted to lower interest rates....

ellisonx.bsky.social•3 days ago

I'm waiting for what's going to happened shortly when all the work these people who've been fired piles up and there's no one doing these jobs. Biggest clusterfuck ever is about to hit this country.

caborose.bsky.social•2 days ago

Then they say, see government doesn’t work.. bring in the corporations.

christopherharris.bsky.social•3 days ago

Our LEIs are fixing to become LIEs.

tbapple.bsky.social•3 days ago

There are non-governmental payroll reports that will pickup the indirect job loses of these firings. Especially the budget cuts that impact government contractors.
One prominent example:

https://adpemploymentreport.com

aexia.bsky.social•3 days ago

They’re going to call ADP fake news and dare the media to challenge them (they won’t)

timelord7.bsky.social•3 days ago

Except the stock market will tank, dollar maybe also...can't sweep massive economic decline under the rug.

nickoftime5546.bsky.social•2 days ago

Stock dropping means M&A times.. sharks will enjoy the bloodbath, billions to be made.

tbapple.bsky.social•2 days ago

That’s the real secret to Buffet’s wealth, he had cash when others didn’t and he bailed them out with crazy terms.

timelord7.bsky.social•2 days ago

I'm sure...but it'll look real bad.

cousincat.bsky.social•3 days ago

🎯🎯🎯

Very reminiscent of Trump 1.0’s insane “the less Covid tests we perform, the less Covid cases we have” rationale, Joshua. 😉

choosefreedom14.bsky.social•3 days ago

It’s like taking a new Mercedes and putting into a car crash rally!! Red States will feel it the most. Sad!!

apearlma.bsky.social•3 days ago

Yeah, assuming they're going to be honest seems counterintuitive at this point.

janet.bsky.social•3 days ago

And ban ADP and any other private sector employment reports.

uniongal.bsky.social•3 days ago

You just gotta stop counting them inconsequentials. PST, that’s us.

didntcmecumin69.bsky.social•3 days ago

Jesse you are aware that Elon want’s to bring in people from other country’s to fill the now opened job’s. They’ll be handed visa’s and not have to earn them like the migrant's

chimaera.bsky.social•2 days ago

Ha. Ha.

What could possibly go wrong if we gut the data collectors?

conniemenefee.bsky.social•2 days ago

Nothing can go wrong! Because we will have no historical data, baselines, benchmarks - just the big clusterfuckery say-sos of King T & Court Jester M.

chimaera.bsky.social•2 days ago

Truth™

staplefunk.bsky.social•2 days ago

As I'm sure he will.

otis2012.bsky.social•3 days ago

It may be the only tool we have against Orange man without getting violent.

hermioneishere.bsky.social•3 days ago

#GeneralStrike #MassBoycotts

eggczar.bsky.social•3 days ago

If you don't test, you don't have cases, unemployment edition

corona-limes.bsky.social•3 days ago

They will lie!

noelmu.bsky.social•3 days ago

I try not to be doomy because I don't think it helps but I do believe that the next bad jobs report (which will likely be the next jobs report) will be the last legitimate one we see during this administration.

iansiegel.bsky.social•3 days ago

Problem is ADP is private and if ADP shows the feds are wrong, market freefall

niftyfire25.bsky.social•3 days ago

ADP sucks, I read their report monthly along with BLS and they are wrong pretty often.

If America has to rely on private surveys, we are F’ed.

tonezib.bsky.social•3 days ago

Yep. But it won't helped but to be noticed. Wait until the tariffs kick in. Unemployment will skyrocket and small businesses may struggle or worse.

raventerp1.bsky.social•3 days ago

Just what Putin wants Trump to do.

phonon.bsky.social•3 days ago

Feels like @kairyssdal.bsky.social would agree

robtasm.bsky.social•3 days ago

"So I told my people, slow the testing down, please! There won't be so many cases if we don't do so many tests."

unclebernie.bsky.social•3 days ago

How will February look? (Not joking)

shenoah.bsky.social•2 days ago

Biden’s infrastructure bill was a bridge too far… 😉

toftethefirst.bsky.social•3 days ago

With thinking like that, you can go far in the current administration.

hermioneishere.bsky.social•3 days ago

Nah… the truth has no place in the current administration.

toftethefirst.bsky.social•3 days ago

If there are no statistics reported, the truth of those statistics is a moot point.

hermioneishere.bsky.social•3 days ago

At least the states (Blue) will have record.. truth will out.

chairmanlay.bsky.social•3 days ago

Don't give them ideas!

tinypolski.bsky.social•3 days ago

Ideas? It's the plan. Crash the economy. The wealthy pick up the scraps for c in the $, then build it up again making $$$, and proclaim themselves to be there for the little guy, reinforcing the belief of the uneducated that the wealthy need to be protected because they're heroes.

ricosuavejd.bsky.social•3 days ago

It's like covid. If you don't test for it, there's no new cases.

lisadterrill.bsky.social•3 days ago

Exactly-which must be why all the government-purchased Covid tests are being destroyed. There can’t be any bad Trump history because of Covid??!!

studleyfarrock.bsky.social•2 days ago

Replace them with loyalists willing to fudge the economic data

nettem.bsky.social•2 days ago

Yes they will definitely do that but how are they going to hide the amount of homeless people, tons of people in soup lines, crime will escalate due to poverty, and these jerks lives will hopefully be on the line and held responsible in some way.

studleyfarrock.bsky.social•2 days ago

The media will cover for them. Good news only by decree of the king.

nettem.bsky.social•1 day ago

Yes of course. If trump says it’s not a problem there’s nothing to worry about

hlrowe.bsky.social•3 days ago

*mwah*

blockwellart.bsky.social•3 days ago

Working class unite.

bori206.bsky.social•3 days ago

🤣 Fact.

imbernomics.bsky.social•3 days ago

taraelizwatson.bsky.social•3 days ago

Too soon.

braindroplets.bsky.social•3 days ago

Same logic as stopping COVID testing in order to keep the patient numbers low.

emtoo.bsky.social•3 days ago

You don't even have to fire them. Just order them to fudge the data to say whatever Dear Leader desires. 0% unemployment! 0% inflation! Economy growing at 10%!

bslkuye1.bsky.social•3 days ago

👀👀👀👀👀👀

browernet.us•3 days ago

Wow, that’s like Covid testing!

konjason.bsky.social•3 days ago

Not to mention 6,000 laid off at Chevron and a large chunk of Southwest Airlines employees.

konjason.bsky.social•3 days ago

And after today we know what his answer will be. "I have only been President for a month. How could it be my fault?"

kfs78.bsky.social•3 days ago

Stop the testing, the number of cases go down…
‘So I told my people to stop the testing’…
Fire everyone who crunches the numbers, no unemployment.
I’m sensing a pattern…

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