According to Biden, the economy is doing great, and America is doing great. There are more jobs than ever before, and unemployment is down.
And yet, reports prove that the government is exaggerating the number of jobs created by a whopping 439,000 positions.
As with any new year, multiple year-end reports are released, spouting the successes or failures of a particular company, state, federal department, etc.
For the Biden administration’s Bureau of Labor Statistics, it means it’s time to report how many jobs were created in the previous year, supposedly by the sitting president’s good deeds.
But as Fox Business reported on Saturday, the number released by the government isn’t really accurate. Instead, it seems that over 439,000 were mistakenly added to the 2023 report during the first 11 months.
As Fox says, this basically means that “the job market is not as healthy as the government suggests.”
Shocking… I know.
For months and months now, Biden has been proclaiming that his “Bidenomics” is working, that America’s economy is strong, and that people are doing better. Inflation is going down…
But everywhere the average American looks, that just doesn’t seem to be reality. And now, Fox Business is agreeing.
As Fox also points out, the jobs report isn’t just some metric put out that’s good to know. In fact, it used to drive a number of economic decisions for the nation, from interest rates to stock markets.
Time to stop trading off the payroll data. The downward revisions in 2023 totalled an epic 443k. More than 40% of payroll growth in 2023 didn’t even come from the survey but from the fairy-tale ‘Birth-Death’ model.
— David Rosenberg (@EconguyRosie) January 5, 2024
And now, all of those decisions could have been made based on faulty numbers.
Of course, this is not the first time Biden’s administration has wrongly input their numbers, whether intentionally or not.
It was admitted in August that from March 2022 to March 2023, job growth was overstated by 306,000 jobs. This includes a 358,000 decline in the private sector and an increase in 52,000 government jobs. It’s also been estimated that 1.1 million jobs overestimated in the second quarter of 2022.
Needless to say, it appears once again reality is not what the Biden administration is reporting.
#Bidenomics – two new jobs created per person and you're working both of them.#DementiaJoe https://t.co/HinLnPPNRE
— Thomas J. Quinlan (@thomas_quinlan) January 4, 2024
