But by the time it is revised lower, nobody really cares anymore.  The fake numbers that are initially released month after month have given the American people the impression that the economy is performing far better than it actually is.  Now we are about to get another major revision to the employment numbers which only happens once per year…

Once a year, the BLS benchmarks the March payrolls level to a more accurate but less timely data source called the Quarterly Census of Employment and Wages, which is based on state unemployment insurance tax records and covers nearly all US jobs. The release of the latest QCEW report in June already hinted at weaker payroll gains last year.

On Wednesday, everyone is expecting that we will be told that hundreds of thousands of fake "jobs" that were originally reported never actually existed at all…

Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government's preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.

While JPMorgan Chase & Co. forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million.

Why don't they just try to give us an accurate number in the first place?

By now, everybody pretty much realizes that the initial monthly employment numbers are usually grossly overstated.

So why not just tell us the truth?

Of course telling us the truth would destroy the carefully crafted illusions that they have worked so hard to create.

Even though large corporations are conducting mass layoffs all over the nation, we are supposed to believe that everything is just fine.

Unfortunately, we have reached a point where even the official government numbers are starting to show signs of trouble.  It takes about 150,000 new jobs each month just to keep up with population growth, and the initial number that we were given for last month was well below that level…