The job numbers for the second month in a row make no sense. What is going on?
Last month TGP reported on the odd numbers being reported in the June payroll data. While the media was praising the news, the underlying result was that more Americans were working two jobs to get by. How else are Americans able to keep up with inflation?
BIDEN ECONOMY: The Truth Behind June Payroll Numbers Is “Hardly the Sign of a Strong Job Market”
Zerohedge first reported this last month and shared some more today after the July payroll numbers came in:
When looking at the July payrolls report, something very odd emerges for the second month in a row.
Recall last month we showed that a stark divergence had opened between the Household and Establishment surveys that make up the monthly jobs report, and since March the former was sliding while the latter was rising every single month. In addition to that, full-time jobs were plunging while multiple jobholders soared near all time highs.
Guess what: at a time when the Biden admin is now being accused of fabricating energy numbers to push oil prices lower, the jarring divergences and inconsistencies in the jobs report just hit escape…