RE: LeoThread 2025-08-12 21:28
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Questioning the reliability of the jobs report when it's being used to justify rate cuts seems contradictory. It can't be both right and wrong. While this might work temporarily, in the long run, it will undermine trust.
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Mmhhh, that doubt has existed for years, well before Trump's current stance, and mirrors the one regarding CPI's manipulated calculation.
Here a quote from a 2024 article: "For years, there have been arguments over the way the voluntary Job Openings and Labor Turnover Survey (known as “JOLTS”) is calculated. According to a Bloomberg report last year, the response rate on the so-called JOLTS survey as to the number of job openings was already falling before the pandemic, which saw participation decline even further. One economist went so far as to call the survey “garbage.” [https://thehill.com/opinion/finance/4689984-how-trustworthy-are-our-jobs-reports/]