Philly Fed: BLS Overstated Jobs Growth by Over 1 Million in Q2.

#jobs #economy #GDP #recession #bls

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Today we will go through a recent research piece by the Philadelphia Federal Reserve Bank showing that the BLS overestimated net job growth in the second quarter.

This vindicates people like me and others in the non-MSM space that said that the US was in a recession earlier this year after two consecutive quarters of negative GDP growth.

Early Benchmark Revisions of State Payroll Employment: https://www.philadelphiafed.org/-/media/frbp/assets/surveys-and-data/benchmark-revisions/early-benchmark-2022-q2-report.pdf

The Philadelphia Fed Just Revised Jobs Lower by 1.2 Million for Q2: https://mishtalk.com/economics/the-philadelphia-fed-just-revised-jobs-lower-by-1-2-million-for-q2

Video Chapters:

00:00 Introduction
00:42 New video introduction and Argentina winning World Cup
01:57 Philly Fed research finds Q2 net jobs growth was only 10'500 and not over 1 million
09:15 Currency collapse and hyperinflation happen during deep economic recessions or depressions
12:33 market update