Blue State Blues: California Reveals All Job Gains In 2023 Were Fake
24th June 2024
In the past year we have discussed on multiple occasions that US labor market data has been repeatedly doctored to artificially appear better than it really is (see “Here Is The “Unexpected” Reason Why The Fed Will Rush To Cut Rates As Soon As Possible”, “Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000” and “Here Comes The Job Shock: Philadelphia Fed Admits US Jobs “Overstated” By At Least 1.1 Million”), although thanks to a quirk of BLS data revision reporting, we won’t have definitive proof of just how ugly the real job market has been in recent years until some time in 2025, well into Trump’s second administration.
However, while the BLS will be able to maintain the facade of “strong job gains” lies into early 2025, the dismal reality has already made an appearance in America’s largest labor market.
According to the latest report published by the non-partisan California Legislative Analyst’s Office (LAO) which is an agency of the California government, is overseen by the Joint Legislative Budget Committee of the California State Legislature, and performs and publishes extensive analyses of the state’s budget in addition to providing fiscal and policy advice to the California Legislature, contrary to prior reports of over substantial job gains in the deep blue state in 2023, the reality was far uglier.
My, what a surprise. Aren’t you surprised? I’m sure surprised.
I wonder what it’s like living in a country where government employees don’t seem to think that their jobs consist of lying to people all of the time.