The process of seasonal adjustments to economic data is based upon the assumption that annual cycles are repetitive. For instance, January seasonally adjusted job growth … and its revision … was up over 500,000 … when unadjusted jobs actually went down.
Using such data adjustments makes sense in normal times … but Pilgrim, I ask you, do you really believe we are living in normal times? And should President Biden be crowing for creating phantom jobs … jobs that only exist as a result of statistical slight of hand?
Afterward: To say it another way … not losing as many jobs as expected … is not really “creating jobs.” Got that, Joe?
STAND UP FOR UNADJUSTED DATA!
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