The Fed was LIED to *AGAIN* -- SHOCKING Reveal.

while the government is misleading us

again and not only are they misleading

us with the labor report but

unfortunately they're potentially

misleading the Federal Reserve as well

now that's not to suggest that the

Federal Reserve is stupid it's just to

suggest that the Federal Reserve bases a

lot of their actions on what the Labor

Statistics are telling us and when the

Labor Statistics come in hot guess what

the Federal Reserves does they get a

little more aggressive last report the

Labor Statistics came a little hot and

what'd we get we got Jerome Powell who

came out just a couple weeks later and

acted a little more hawkish and

suggested the labor market was so tight

and wages were so increasing that the

three parts of inflation that we have to

deal with only two of them were actually

coming down goods inflation and

household inflation like rent inflation

is finally starting to rotate down but

wages are surprisingly sticky and

they're still going up and that could

lead to a wage price spiral which would

crash economies and I hate to say it but

the Bureau of Labor Statistics once

again came out and actually had to

revise some of the garbage they gave us

last month and even at that they're

still misleading us with some of the

other numbers in this video I'm going to

break that down for you first this one a

little bit more benign but shows you

graphically some of the issues so Jerome

Powell who was a little frustrated last

month was referring to the light blue

line that average hourly earnings based

on a 12-month rate of change had

actually risen in the last Labor report

and that made Jerome Powell nervous but

the Bureau of Labor Statistics screwed

up and they ended up revising the

average hourly earnings change from last

month to instead of rising to actually

lower and then flat at a lower level and

then down in other words great versus

bad the that we could see depicted or

actually written out right here we had

average hourly earnings for the last 12

months that came in at 4.6 percent the

estimate was five percent and the last

hourly earning read was also revised

down that revision down was critical we

saw a revision down to 4.8 percent from

5.1 for those year-over-year figures

that's a big shift and that actually

suggests wait a minute maybe there's

actually more slack in the labor market

than we think which is a good thing to

some degree because it removes that last

mass of fear the FED has of a wage price

spiral now don't get me wrong I'm all

for people making more money but not to

the point where it looks like people are

making so much more money that the

Federal Reserve has to destroy your job

make you get unemployed and destroy the

economy much more than they actually

need to because they think the economy

is much stronger than it is based on all

the phony money printing they did

leading to all this inflation that now

they're fighting but that's not the big

part the frustrating part with the

Federal Reserve is uh they they continue

to look at some of these headline

numbers where we go oh look the headline

number here we were expecting to get 203

000 jobs would we get we got 223 000

jobs oh no the employment Market is

still very very tight now the

Philadelphia fed has come out and

suggested just about three weeks ago

wait a minute maybe we're over counting

people because there are two surveys

there's an establishment survey which

counts how many payrolls there are then

there's a household survey which counts

how many people are actually working and

that means maybe we're double counting

people who have multiple jobs and what

did we find out happened between

November and December's jobs reports

well shout out to Zero Hedge take a look

at this chart it's damning job changes

from November to December ready for this

full-time job changes minus one thousand

part-time job changes Plus

679 000 jobs

multiple job holders plus 370

000 jobs

look usually people in this market work

part-time not because there aren't

full-time jobs available they take an

extra full-time or a part-time job

because they have to they have to

supplement their income that's why you

get a big bump in multi-jobholders and

part-time but then you also see another

bump sort of the the rest of the chart

right because if multi-jobholders let's

say this is the multi-jobholders portion

you still have another part over here

that's part-time that isn't also

full-time and that could be represented

by a couple things a people with

full-time jobs need to get an additional

part-time job not because they want to

have an additional part-time job driving

Uber or doing Dior de Shay but because

they have to they're Americans they pay

the freaking bills they do what they got

to do they get another job and they get

through a hard time by working harder

and paying the bills rather than giving

up they keep going now that sucks you

don't want to do that forever it's hard

but hopefully that pain is temporary but

you also see an increase in part-time

workers potentially as people who

retired realize oh even though I got a

nice Cola cost living adjustment for

Social Security dang things are still

expensive out here I gotta go get

another job or get a job again

so you enter the labor force as a

part-time individual

this is a very different story than

seeing Oh number of jobs uh went up by

223

000 in December

um well what kind of jobs well

apparently not a lot of full-time jobs

apparently a lot of part-time jobs and

multi-job holders uh and massive changes

in those sectors November to December

but if we actually look at march to

December so we zoom out a little bit

more what do we get here we actually get

a decline of full-time employment by 288

000 a net increase of part-time

employment of 886 000 and

multi-jobholders up 684 000. point is

between March and December it looks like

we have actually on net lost full-time

employment yet what is the Bureau of

Labor Statistics tell us well they tell

us that we've actually created

2.1 million more jobs than the household

survey shows but what kind of jobs are

we potentially creating well it doesn't

seem to be full-time work it seems to be

a lot uh to some degree here part-time

and multi-job work now this is a little

wild because you have a Federal Reserve

that is starting off with looking at

these headline numbers and they're

saying uh-oh looks like we have wage

inflation looks like we have more uh

more jobs being created it's time for us

to be more aggressive and talk about how

we're going to raise interest rates more

but it seems like there's a very real

risk the Bureau of Labor Statistics

isn't actually doing the best they could

and maybe they're trying but it's hard

for them with the data they have but it

doesn't look like we're getting the best

uh in terms of clear data when we zoom

in and we're we're starting to realize

holy smokes

we're losing full-time work average

hourly work weeks are also declining now

that's another issue compared to all of

what I've just described that's another

issue because watch this if you go here

to the average hourly work week for all

employees in this last report declining

by 0.1 hours that's actually very

important I'll give you a very quick

example let's say you're paid a salary

of two thousand dollars okay so you're

paid a salary of two thousand dollars

that's different from being paid hourly

right but let's say you in your case are

paid salary two thousand dollars per

week okay if your average hourly work

week was

34.4 like it was last month 34.4 2000

divided by 34.4 that implies you were

paid about 58 dollars

14 cents per hour but if your average

hourly work week actually went down to

34.3 then 2000 divided by 34.3 it makes

it look like you made more money in this

case about

16 17 cents more money 17 cents might

not seem like a lot but it's a big deal

because when we look over here and we go

the average payrolls in the last report

increased nine cents

then that implies wage inflation is

occurring but wait a minute if in this

example 17 cents was made up by the fact

that you got paid the same amount even

though you worked a little bit less

because there was less work to be done

at the factory than a lot of potentially

that wage increase could actually be

written off as a shorter work week

which actually might mean wage inflation

in reality is

flat or negative

that's wild so peace piece all of this

together here as sort of a bottom line

and and you see how Wild this is okay so

what do we have first we have that the

headline numbers double counting double

counting people and even the

Philadelphia fed said this the

Philadelphia fed said that in Q2 the BLS

suggested we created 1.1 million jobs

the reality was more like maybe we

created 10 000 jobs the Philadelphia fed

pointed out that the Bureau of Labor

Statistics might be wrong okay and

that's because of the double counting

but it's not just that where we're

seeing the real big increase in jobs

isn't part-time jobs

multi-job holders which when you have

multi-jobholders it's an implication

that there's economic stress

and actually a decline in full-time job

holders

at the same time average hourly earnings

May we're not certain about this but may

appear higher as the work week shrinks

so all of a sudden I I mean I'm not I

don't want to come across as like hey

I'm just I'm just looking for reasons to

be like hopeful here in fact I'm not

very hopeful when I look at the

government data because it just it seems

like the amount of revisions we get and

the amount of sort of misleadingness

that we get with headline numbers that

aren't actually reflective of what's

really happening it makes you a little

frustrated because the labor report we

got that headline number implies oh man

dang that job market it just continues

to be tight what the heck

well then you break it apart and you're

like wait a minute we're a barely

creating jobs according to the

Philadelphia fed we're getting people

who are working more because of well

rate hikes uh and inflation leading to

more pain in the economy people's

household net worth is going down their

stocks are going down their car values

are going down everything's going down

in terms of things that you own which is

very painful so people potentially get

another job so they can go buy that new

paintball gun or whatever they want and

hey I'll go paintballing with you okay

big fan but anyway then what else do you

get you get a decline in full-time

workers now that's weird because you

think like does this mean people are

less needed oh no well if that's the

case then maybe it means production is

actually falling and companies realize

we're going into a recession they're

actually laying off which is what we're

starting to see even McDonald's is

talking about laying off more of their

corporate staff and their stocks only

download like one percent year over year

and average hourly earnings may actually

appear even higher as that work week

shrinks that's wild

and in my opinion

seeing this

I become somewhat hopeful that soon and

remember hope is not an investing

strategy okay I'm a licensed financial

advisor I run an ETF I run educational

courses on building your wealth link

down below you know long-term investment

mindsets buying real estate wedge deals

I teach you everything I know

and I'm not here to say hope is a good

strategy but I am here to say that the

more we look at the actual Deep dive

numbers

the more concerned I get

that the FED is going way too far way

too fast and they're acting based on

numbers

that may actually not be as accurate as

they think and that's scary because when

you have somebody driving the car that

doesn't even realize they're being

Reckless

you're tightening your seatbelt because

you're like dude we're coming in for a

crash man

happy Saturday everyone thank you so

much for watching consider sharing the

video if you found it helpful and we'll

see in the next one good luck and

goodbye