I might be crazy?
But somehow I don’t things are a rosey at one would be led to believe….
They come from Donald Trump’s Labor Department….
The U.S. economy added 263,000 jobs in April, blowing past the 180,000 economists were expecting, the Labor Department said on Friday, while the unemployment rate dropped from 3.8% to 3,6% — the lowest since December 1969.
The big picture: Average hourly wage growth rose 3.2% on an annual basis, which is somewhat slower than before. That’s not great for workers, but it could be a sign that there’s still slack in the labor market and room for more job growth….
Note…..
The jobs report shows steady job growth and a continuing streak. But before you get too excited about +263K jobs, note that the household report shows a loss of 141K jobs. Putting these together using 80/20 shows 182K jobs, which is close to the previous 3 month average.
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Lemme be crystal clear: No, these numbers are not cooked. All macroeconomic data are imperfect, but these aren’t being fiddled with. The commitment of BLS staffers to honest reporting is extraordinary. Dozens would resign rather than cook the books.
Can we really trust anything we read anymore? The latest craziness makes me wonder whether the WH are cooking these numbers the same way they are c(r)ooking the rest of the government.
twitter….