Welcome back to 1970s (stagflation) . . . World Bank projects US GDP to grow only 0.5% in 2023

[Gaius]

Yes
I guess you missed these posts I made about doubting the seasonal adjustment.

I made them over on the thread that’s all about the seasonal adjustment.

@Gaius

I have no reason to believe they seasonal adjustment is wrong.
I do not disbelieve it. CATO calls it “suspect” and so I call it suspect,
but CATO and I stop short of active disbelief.

Still it is in-keeping with the thread title to point out that there were not actually 500,000 new jobs. There are not. In fact ~2.5 million jobs disappeared.

@Gaius

The “500,000 jobs added” number comes because we lose jobs after after Christmas season so every January jobs report is “seasonally adjusted.” This year the seasonal adjustment number 3 million. Simple subtraction shows 500,000 added.

This happens every year. Every president “gets this” four times.