Numbers, nonsense, and knowledge!
We finally start to see that the numbers we get from the BLS report (Bureau of Labor Statistics) might be better called “Basic Lying Statistics”, as once again they have had to go back in time and adjust numbers DOWN by HUNDREDS OF THOUSANDS of JOBS…AGAIN! This nonsense must stop because it has become alarming to see that government reporting of data is so flawed that we are better served by eliminating that entire entity and just saving the money.
It is important to note that the BLS keeps presenting numbers touting the creation of hundreds of thousands of jobs, but a deeper dive shows that we are losing full time jobs at an alarming rate and those job loses are being offset by a significant rise in parttime offerings. Since so many jobs are being offered in multiple markets across multiple platforms, it can often confuse the situation and even present a distorted picture. We also must talk about the algorithms, seasonal adjustments, and how the household surveys are being done because most people would be shocked if they knew. Even worse, the unemployment rate has ticked UP to 4.1% according to reports, which flies in the face of what the “experts” would have you believe.
You must maintain your knowledge by knowing where to look and when to gather your own information so YOU can make an informed choice as to the conversations you are having with your people. Today we have initial and continuing jobless claims and the CPI numbers; Friday we will have the PPI report. All of these could be market moving!
Last on the topics of today is that we are just a little more than five weeks away to historic changes in how real estate will function between buyers, sellers, real estate agents, and commissions! To my knowledge, I have not seen any official documents or language on how commissions will be handled or even basic information of those buyer agreements or how existing listing agreements will be modified to comply with the new rules. If anyone should come across anything official from any state or MLS, please share! You can always reach out to me by emailing me: [email protected]
