Philadelphia Fed reports BLS employment data distorted, falsely "increases" non-farm jobs by 800k


Employment data, crucial to public interest, often comes from official sources, yet a recent Federal Reserve Bank of Philadelphia report highlights significant distortions in these figures.

In recent years, due to the pandemic and economic recession, among other factors, the unemployment rate in the United States has been climbing steadily. The rise in the unemployment rate leads to a series of butterfly effects that impact various aspects of the economy. Additionally, since unemployment is something that everyone can personally experience and observe, it has attracted a lot of attention.

Recently, the Federal Reserve Bank of Philadelphia released a new survey report revealing astonishing news. The Philadelphia Fed claims that the employment data published by the U.S. Bureau of Labor Statistics (BLS) has serious distortion issues, with a "surplus" of actual job positions being reported. This means the unemployment rate is higher than what has been announced and expected, with an overestimation of 1.1 million jobs in 2022 and 800,000 jobs in 2023.

Another issue that has drawn public interest is that the majority of the new positions in the United States have been occupied by foreign workers and part-time employees, while local workers and full-time positions are relatively scarce. Thus, there is analysis suggesting that the U.S. Bureau of Labor Statistics has been deliberately manipulating relevant data for quite some time.

Based on the investigation and statistics from the Philadelphia Fed, the results show that there are significant discrepancies between the job change estimates and the actual figures in 27 states across the U.S.

The report also mentions a lot of data, such as the BLS claiming an average monthly increase of 230,000 jobs in 2023, but according to the corrected data from QCEW (the Quarterly Census of Employment and Wages of the U.S. Bureau of Labor Statistics), the real number of monthly job increases is 130,000.

Besides the decrease in the number of new positions, the report reveals important information that the current full-time positions in the United States are diminishing, being replaced by a significant number of part-time positions, and many of these jobs are being filled by illegal immigrants instead of local workers.



Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End


Unemployment Rate

The unemployment rate is a key economic indicator that measures the condition of the labor market, representing the percentage of the labor force that is unemployed and actively seeking work.

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.


Contact Us

Social Media