The Biden Economic MIRACLE!™ continues apace, God help us all.
Warning, this link is to CNN, and it is pure regime-promoting propaganda, discussing how a major downward revision in new job creations is actually good news, because it beat expectations on how badly the Bureau of Labor was going to have to adjust its previously published fabrications. Or something to that effect.
”America Added 306,000 Fewer Jobs Last Year Than We Thought” [CNN Business – 8/23/2023]
Link not transcribed, of course, because fuck CNN, that’s why. Onwards.
Despite the spin, there are a few hard numbers I’d like to extract:
US job growth during much of the past year was weaker than previously projected by a little more than 300,000 jobs, according to new federal data released Wednesday.
As part of the agency’s annual benchmark review of payroll data, the Bureau of Labor Statistics revised down March 2023’s employment gains by 306,000 positions.
This means that 306,000 fewer jobs were created over the 12 months ending March 2023. How significantly was the data overstated?
When spread through the prior year, that amounts to about 25,000 fewer net jobs added per month, meaning that the average monthly job gain for the 12 months ended in March 2023 was nearly 312,000 versus 337,000, BLS data shows.
Let me do the math. The BLS overstated new job creation by 8.0%. That is not a rounding error or a minor miss, it’s a significant and deliberate government lie. And of course, since it is policy at BLS to publish false, inflated figures to help Democrat administrations, it is safe to assume that the revisions are also false. The Bureau of Labor Statistics is simply trying to adjust their falsified data reports enough so that they can somehow, sort of reconcile to surveys of actual employment. They have to do this to set the benchmark before the next round of completely bogus jobs reports is released.
How persistent is the jobs report fraud? Take a look at this graph from Zero Hedge, which shows that every month so far in 2023 the BLS publishes an overstated jobs report, which the regime media dutifully touts as a sign of great economic progress under President Biden, and then that same monthly report is later adjusted downward without media fanfare.
The July report was the first one this year to report under 200,000 new jobs, which means that the actual number is going to be even lower than the already disappointing 187,000 jobs reported.
Damned seditious violent treasonous MAGAT bastige, spreading all those damnable lies about our fine government and media establishments. Where’s our fine, upstanding FBI and their paramilitary SWAT teams when you need ‘em for another of their patented late-night, home invasion-style raids, anyway?