Is the Labor and Wage data reliable?

Do you remember all of those articles about strong jobs and wages that are why the Fed has been raising rates?

At least with this data, It didn't seem to be true. The BLS(Bureau of Labor Statistics) revisions show a MASSIVE decline in the data since Q4 2022.

I do not want to be always on the side of conspiracy theory.
But clearly it is worth that to have a doubt abut the data the FED and U.S. government officials shared and announced through mass media.

How to Translate this Data

It is possible that the Federal Reserve is downplaying the severity of inflation. The BLS data has been revised several times in recent months, and it is possible that the Fed is not being completely transparent about the true extent of inflation.

It is also possible that inflation is being caused by a combination of factors, including massive dollar printing, a hot employment market, and limited supply chains. The value of the dollar may go down rapidly if inflation continues to rise, and this could lead to a recession.

OPEC, Russia, and India are all trying to reduce their reliance on the dollar. This could lead to a decline in the value of the dollar, and it could also make it more difficult for the US to finance its debt.

Source: Bureau of Labor Statistics

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