For nearly two years, the job market Americans were told about has been significantly stronger than the one that actually existed, and the Federal Reserve made a major policy decision based on numbers that have since been quietly rewritten.
  • echo@lemmy.today
    12·
    4 days ago

    It is not weaker than thought. It’s just an incomplete revision of the lies previously released.

  • BooBees@fedinsfw.appEnglish
    11·
    4 days ago

    No shit. Every company related to purchases from people not wealthy are reporting major slowdowns, even Netflix reported very subpar growth, which caused a dip in their investor confidence. People are having problems finding work and the wealth gap continues to increase. Wealth growth happened for those who retired already or are about to, and the younger gens saw bigger struggles.

    Products continue to shrink, enshittification continues to invade every aspect of the economy. If people don’t have money, things are getting more expensive, including just going shopping, why would companies need to hire more workers to handle decreasing demand and shittier products?

  • anachronist@midwest.socialEnglish
    7·
    4 days ago

    It was pretty obvious when Trump attacked the numbers and fired the BLM lead that they were going to cook the numbers.