The TRUTH About The Jobs Report
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Lies, damn lies and jobs report. Yeah, I know. I’m gonna hear it. I’m definitely gonna hear it. Oh, Steve Murkowski, got Trump Derangement Syndrome. It’s a great report. Everybody, she was great. Look at the numbers, 115,000. You weren’t expecting 55. Okay. No, I don’t have Trump Derangement Syndrome. I have strong, strong aversion to BS.
and lies that are put out. And anybody who’s been following this program for some time knows, I used to be part of the Brady Bunch Box Brigade on the business networks with the jobs report and appearing there. No more, no more. Because I’m tired of the BS. You cannot, you cannot just look at whatever headline number is thrown out there.
and just say, it’s fantastic. That’s like, it’s like going to Syracuse, New York in like July and having a beautiful and sunny out and automatically assuming that that’s what the weather’s like for the entire year. It’s not. Anyway, jobs report. And again, you’re going to have everyone come out of the woodwork and sing the praises of how wonderful this is. Both parties do it.
Both parties do it. Let’s start off with the revisions. Okay, we’ll start off with the revisions. February jobs were revised down by 23,000. March was revised up by 7,000, meaning over the past two months was 16,000 lower than previously reported. If you want to take a look below the surface,
While payrolls went up, actual employment dropped to the lowest we’ve seen since January of 2025. The actual monthly change in payrolls, in payrolls altogether, came down from actual jobs. It dropped by 226,000 in April. It is now down four months in a row.
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We also have to take a look at how these things are calculated. They have various different little caveats cards in there, if you will. The US, in April, the US saw 391,000 jobs added only in spreadsheets. Yeah, again, it doesn’t make sense to me either. really, it’s their algorithm. They call it the birth death model adjustments.
And no, no, no, no, You think I understand it? I don’t. I have no idea. We just figured it. They got this 391 birth that we’re going to throw that in there. Whatever. You know, you would think with, you know, the technology available to us today, they’d be able to do a little bit more of an accurate job. You wouldn’t need all of these models in today’s day and age. But hey, hey, you know, God forbid they actually try to modernize anyway.
Unemployment rate unchanged at 4.3 % in line with expectations, which, again, I’m trying to make heads or tails out of this. Again, I don’t understand this either. Every major ethnic group saw their unemployment rate increase.
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I can’t answer it. I don’t know. I don’t know why, but that’s, know, every major ethnic group saw their unemployment rate increase, but the unemployment rate was unchanged at 4.3%. Okay. Okay. Labor force participation rate down a little 61.8 from 61.9. Wage growth came in cooler than expected at 0.2 % month over month. That’s
3.6 % annual increase. The number only well, that means that wages across the board are rising at a 3.6 % rate. Some are going to say, oh, wages are kicking butt, it’s beating inflation. Does anyone actually believe prices are only going up by 3.6 %? Nah, me neither. Okay. Now,
More than itty-gritty, more than itty-gritty. The number of people jobless less than five weeks increased by 358,000 to 2.5 million. The number of long-term unemployed, those jobless for 27 weeks or more unchanged at 1.8 million and accounted for 25.3 % of all unemployed people. Number of people employed part-time for economic reasons.
increased by 445,000, 4.9 million. These are individuals who would have preferred full-time employment but were working part-time because their hours had been reduced or they were unable to find full-time jobs. The number of people not in the labor force who currently want a job changed very little. It’s about 6.1 million.
among those not in the labor force who wanted a job. Basically the same 1.8 million. Now, employment up 115,000 in April. Where were the gains? Healthcare, interesting. Transportation and warehousing, we’ll get to that in a bit. And retail. Federal government, this was a silver lining one for me.
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federal government employment continued to decline. Healthcare, which has been the big winner for an extended period of time and at 30 added 37,000 jobs. Now, transportation and warehousing employment increased by 30,000. However, however, that was pretty much a gain just from couriers and messengers. What does that mean?
DoorDash.
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That’s what that is. So the gain and transportation where again,
38,000, everything else was down, that’s DoorDash, that’s with delivery drivers. Okay, 38,000 of these jobs in this report, that’s what they are. Just throwing it out there. Retail, 22,000 jobs, and those were actually increasing in warehouse clubs, Costco’s, Walmart, super centers, building material stores.
Losses across the other, you department stores electronic everything like that. They were down social assistance up 17,000 government employment down 9,000 and One tech is really taking it Taking it on the chin. They really have to check down again 13,000 Again that that that door dash stuff. That’s the highest level
we’ve had in increases since COVID. Okay.
You want to take a look, break it down as best I possibly can. Added 123,000, we added 123,000 part-time jobs while 424,000 full-time jobs were lost.
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This again, is this Trump derangement? I’m giving you numbers. Okay. I’m giving you numbers. I know most of the magas have already, you know, turned off the podcast because it’s la la la la la Markowski keeps giving us facts. We don’t want them. Liberals do the same thing. Things they don’t want to hear doesn’t compute with their worldview. Get some upset, gets them all shaky. You know, they start to freak out. I keep thinking, right? Their minds.
It’s when, sorry, I gotta give this sub rep. Great, great comedic film there, something about Mary, when Ben Stiller picks up the hitchhiker and he’s trying to sell the, what was it? It was eight minute abs, but his version was seven minute abs. It was one minute slower, but he was a serial killer. And Ben Stiller presents him, well, what if somebody comes out with six minute abs and he’s had, kind of wigs them out, freaks them out.
Like, you know, no, you can’t do that. And he would just, you know, it’s kind of like that. When I present people with hard evidence and facts, if it doesn’t, doesn’t go with their worldview, you know, collective freak out. Anyway, the drop in full-time jobs dragged the total number of full-time workers to levels that we last saw in December of 2024.
Here’s another silver lining number. Again, I’ll give you a good number here. Native-born workers. Native-born workers rose by 341,000, foreign-born dropped by 326,000. Again, I actually saw one of my former Brady Bunch box participants on Fox Business and
and she’s actually out now on social media basically saying this jobs report is terrible. Why are we salivating over this numbers? I don’t know how much longer Steph is gonna last on Fox Business because you cannot, you you can’t, you can’t defy, can’t defy the narratives over there by any stretch of the imagination. And this is something interesting as well. This is courtesy of Mohammed El-Arian.
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basically the dimension between what’s going on. They call it the Main Street Wall Street divide. And Mohammed, thanks for chiming in on this, but we’ve talked about this for some time. The US labor share of output fell to 54.1 % in the first quarter 2026. That is the lowest level since this data series began in 1947.
What does that mean? Most people don’t know what this actually, I’m gonna explain it to you. Basically, labor in this country is capturing a ever declining share of any value due to productivity gains. The benefits are accruing to owners.
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I’ve been, you know, I’m in the business of owning. I’m in the business of, you know, it’s America. I’ve talked about, have to have your money working for you. You have to, you know, that ownership thing. You have to have it. But that’s a rough number right now. It’s a divisive number. It comes to mind, you know, that the scene in Wall Street where Gordon Gekko is,
Basically, know lecturing bud Fox after bud got pissed off that he just railroaded his his company and his father’s company was a blue star airlines and he was just talking about you know, I don’t create or build anything. I just own It’s great to own. You also have to build and create and the again the share share of labor output to
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declining value. Let’s just leave it at that. And that needs to turn without a doubt. So here you go. Lies, damn lies, jobs, report. That’s what was in it. Watchdogonwallstreet.com.
