Have you noticed that for the last five or six weeks, the initial claims for jobless benefits has remained exactly the same? A man by the name of Jim Blanco has noted that this is not a statistical possibility. In other words, the only real, reasonable way to explain the phenomenon is that somebody, probably a raging liberal within the Biden administration, is fixing the numbers. Cooking the books as they say in the mob movies. Either these individuals have become so lazy that they can’t even bother to do their jobs properly in order to provide the American people with accurate numbers, or its being done on purpose as damage control for President Joe Biden.
We’re experiencing massive layoffs from huge companies all over the country every single week, so obviously things are not going well at the moment. Nobody is falling for the “everything is fine” narrative. So why is this administration so desperate to make us believe it? Because Trump will stomp all over the incumbent commander-in-chief in November if the economy keeps nose diving.
According to the Economic Collapse, this whole thing has become such a sham even the folks at CNBC wrote an article about it:
Calling the state of the U.S. jobs market these days stable seems like an understatement considering the latest data coming out of the Labor Department.
That’s because most of the past several weeks have shown that first-time claims for unemployment benefits haven’t fluctuated at all — as in zero.
For five of the past six weeks, the level of initial jobless filings totaled exactly 212,000. Given a labor force that is 168 million strong, achieving such stasis seems at least unusual if not uncanny, yet that is what the figures released each Thursday morning since mid-March have shown.
The fellow I mentioned earlier, Jim Bianco, who is the head of Bianco Research, was the first person to call attention to the utter ridiculousness of getting the same exact number for five out of six weeks.
“How is this statistically possible? Five of the last six weeks, the exact same number,” market veteran Jim Bianco, head of Bianco Research, posted Thursday on X.
“Initial claims for unemployment insurance are state programs, with 50 state rules, hundreds of offices, and 50 websites to file. Weather, seasonality, holidays, and economic vibrations drive the number of people filing claims from week to week,” he added. “Yet this measure is so stable that it does not vary by even 1,000 applications a week.”
Something does indeed smell fishy. And since we’re not at a fish market or catching some cheddar biscuits at Red Lobster, that means something bizarre is going down with the numbers.
Below is the number of initial filings for unemployment insurance.
How is this statistically possible?
Five of the last six weeks, the exact same number.
Effectively the same number in the last 11 weeks, except for the holiday weeks (President's Day and Easter).
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Consider… pic.twitter.com/vZbWWC7DRr— Jim Bianco (@biancoresearch) April 18, 2024
This isn’t a new phenomenon either. Having wacky, unrealistic jobless claims has been going on for a few years now. They’ve seemed to stay within a specific range, regardless of what the economy is doing. To summarize, you probably shouldn’t believe what the government is saying about the condition of the economy. They are fudging numbers to make things look less bad than they actually are. And yes, I absolutely meant to phrase that sentence that way because if they were attempting to make the economy look good with how they are cooking the numbers, they have done a terrible job.
According to Challenger, Gray & Christmas, the number of announced job cuts in the U.S. in March was 7 percent higherthan the already elevated level that we witnessed in February…
Employers in the U.S. announced 90,309 job cuts in March — a 7% increase from February, according to data released Thursday from executive coaching firm Challenger, Gray & Christmas.
That amount of planned layoffs mark the highest monthly total since January 2023, when employers announced 102,943 cuts. Companies are cutting jobs as a result of store closures, bankruptcies, organizational restructuring or general cost-cutting, Challenger said. The cuts suggest that “many companies appear to be reverting to a ‘do more with less’ approach,” Senior Vice President Andy Challenger said in a statement.
“While technology continues to lead all industries so far this year, several industries, including energy and industrial manufacturing, are cutting more jobs this year than last,” he said.
Are we really supposed to believe that the layoffs that have been happening have not had a significant impact on the jobless claims numbers? Come on now. People aren’t stupid. Most of us have IQs higher than our shoe sizes, you know.
And now the BLS is trying to say that unemployment numbers went down in February?
Data from the Bureau of Labor Statistics released Friday showed the labor market added 303,000 nonfarm payroll jobs in March, significantly more than the 214,000 expected by economists. Meanwhile, the unemployment rate decreased to 3.8% from 3.9% in February.
If you happen to be one of the unfortunate folks out of work right now, you get stuffed into one of two different categories.
Either you are classified as “unemployed” or you are classified as “not in the labor force”. According to the most recent BLS number, 6,429,000 Americans are considered to be officially “unemployed”. But another 99,989,000 Americans are considered to be “not in the labor force”.
When you add those two numbers together, you get more than 106 million U.S. adults that do not have a job right now. During the Great Recession of 2008 and 2009, that combined figure never even reached 90 million. But we had a horrifying “unemployment crisis” in 2008 and 2009, and today everything is just fine.
The EC says that the government is really just trying to gaslight us, and unfortunately, there seems to be a significant number of Americans who are just going along with the narrative. Not all of us, thankfully, but enough.
It is astounding how many people will just believe whatever they are told by the government. That’s alarming. Just think about how easily fooled individuals who have the right to vote can be. It should make the air on the nape of your neck stand up.
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