Biden Admin Admits 800,000 Jobs It Took Credit For Don’t Exist
The article discusses a recent admission by the Biden-Harris administration that over 800,000 jobs claimed to have been created in the past year do not actually exist. According to a report from the Bureau of Labor Statistics, a revision revealed that the U.S. economy added 818,000 fewer jobs from March 2023 to March 2024 than initially reported. The corrected job growth figure represents nearly a 30% decrease from the previously stated 2.9 million. The report highlights that sectors such as professional and business services saw the largest downward revisions, particularly with job growth being revised down by 358,000.
This revision is cited as the most significant since 2009 and is consistent with a pattern of overestimating job growth in recent years, as similar adjustments were made for previous periods. The article suggests that these inaccuracies exacerbate challenges faced by American workers, who are already struggling with high living costs attributed to inflation under the administration’s economic policies.
the findings from the job revision raise concerns regarding the reliability of employment data and its impact on public perception of economic stability, amid rising prices for basic goods and services.
The Biden-Harris administration admitted on Wednesday that more than 800,000 of the jobs it claimed to have created last year don’t exist.
An annual revision by the Bureau of Labor Statistics revealed that the U.S. economy added 818,000 fewer jobs from March 2023 to March 2024 than originally reported. According to CNBC, “the actual job growth was nearly 30% less than the initially reported 2.9 million from April 2023 through March of this year.”
“The revision to the total payrolls level of -0.5% is the largest since 2009,” the report reads.
This review of Wednesday’s figures found that “[a]t the sector level, the biggest downward revision” came in “professional and business service,” in which “job growth was 358,000 less than initially reported.” The manufacturing; trade (including retail positions), transportation and utilities; and leisure and hospitality sectors also saw downward revisions.
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Wednesday’s revisions are not an anomaly, however. The Biden-Harris administration has regularly overestimated job growth in recent years, only to later revise those totals downward in the months that followed.
Last year, for example, “the government … overestimated the job growth for the 12-month period ending March 2023 by 306,000,” according to Forbes. A December 2022 analysis by the Federal Reserve Bank of Philadelphia estimated that the administration overstated the number of jobs created during that year’s second quarter by more than one million, The National Desk reported.
Meanwhile, the feds “underestimated job growth [in August 2019] for the period ending March 2022 by 462,000,” according to Forbes.
The revised 2023-2024 job numbers are more bad news for American workers and consumers, who are already grappling with high costs of living produced by the administration’s “Bidenomics” policies.
Despite regime-approved media’s claims to the contrary, government-induced inflation has resulted in Americans paying more for everyday necessities such as groceries and electricity. As my colleague Jordan Boyd recently noted, “Basic goods and services cost at least 20 percent more now than they did when Biden and Harris first entered the White House.”
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