Early Jobs Report Data Previews the Coming Bloodbath – Opinion

In preparation for the January 2022 jobs report, the White House has been busy trying to prevent damage. RedState reports that Jen Psaki made an extremely bizarre and absurd comment during Monday’s briefing. According to her, Omicron will cause jobs numbers to get distorted because people are calling in sick.

People taking sick leave aren’t counted in job losses. The whole thing was seen as a gaslighting attempt to prevent a truly terrible report. At the time, I speculated that we’d actually see negative jobs growth.

So what’s this all portend? I think it’s pretty clear that Psaki knows the coming jobs report is going to be in negative territory. This will come on top of the December report that was flat and missed the mark by more than 50%. In a month when seasonal hiring should have led to a significant increase in employment, this is the second-lowest in the series.

That has now been essentially confirmed via ADP’s latest data. Their latest data showed that there was a 500,000-point difference in the job numbers, which is significantly less than what they expected.

To be clear, ADP’s survey is not the same as the BLS survey we will see released on Friday. Although the results of both surveys are similar in nature, they do not always compare. The fact that ADP shows a large job loss is highly predictive of the BLS survey. The exact numbers may differ, but don’t expect the topline results to change.

Besides, would Joe Biden’s handlers be rushing to put out this tweet if doom wasn’t on the horizon?

It is a lie that many people believe. It is because the government has arbitrarily destroyed the market for jobs in years past that this year’s total job gains have been so large. It’d be like the government blowing up your house, building you one half its size, and then demanding you praise them for it.

Clearly, the economy is faltering when it shouldn’t be, and the administration has no actual answer for its failures. Tweeting through it is not going to be any more persuasive than Psaki’s snark is.

As an aside, can we just note how terrible the “experts” continue to be? How many times can the word “unexpectedly” be used to describe the forecast failures of economists who clearly have no idea what they are doing? Month after month, the jobs numbers have missed the mark, and it’s always described as “unexpected.” At what point does it become expected?

The White House knows it, but they are in serious trouble. There is no way to return to the public’s perception of a president-elect administration. Biden’s woes are really starting to feel baked in and permanent. The arrogant responses coming from his comms shop aren’t helping either. This leadership deficit is both real and dangerous.

About Post Author

Follow Us