https://web.archive.org/web/20240328202618/https://www.zerohedge.com/markets/philadelphia-fed-admits-us-payrolls-overstated-least-800000 >Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 Thursday, Mar 28, 2024 - 08:45 PM > The first red flags emerged in the summer of 2022: that's when the Biden Labor Department started well and truly rigging the labor market data. > Regular readers may recall that it was back in July of 2022, when we first warned that something had "snapped" in the labor market: that's when a striking discrepancy emerged between the number of US Payrolls (as measured by the BLS' Establishment Survey, a far more crude and imprecise, yet much more market-moving data series), and the number of actual Employed Workers (as measured by the BLS' far more accurate Household Survey) . As we showed then, after the two series had tracked each other tick for tick for years, a wide gap opened in March 2022 which quickly grew to 1.5 million jobs in just 3 months...