The Bureau of Labor Statistics (BLS) job growth numbers have been revised down once again under the Biden-Harris Administration, this time revealing that a staggering 818,000 jobs which the BLS claimed were created under the Biden regime were non-existant.
“818,000 jobs that the Harris-Biden administration claimed to have “created” aren’t actually there, according to the Bureau of Labor Statistics. This is the largest downward revision to employment in 15 years,” said RNC Research on X.
Economists warned of the coming downward revision prior to the official announcement, raising questions about why the BLS estimated job growth to be so far above estimates from private analysits.
A report from Bloomberg revealed that economists from various companies, including JPMorgan Chase & Co., the Goldman Sachs Group Inc., and Wells Fargo & Co., agreed that the preliminary Bureau of Labor Statistics (BLS) estimated job growth numbers from 2023 through March 2024 would likely be revised downward dramatically.
Prior to the revisions. the BLS estimate from March shows that the preceding twelve months saw a growth of 2.9 million jobs, but the new revision has shown that those numbers were drastically inflated.
One of the more optimistic estimates, which came from J.P. Morgan forecasters, suggested that the revision, would reveal a decline of around 360,000 jobs, while other financial institutions came closer to the mark.
Goldman Sachs believed that the downward revision would reveal that the BLS overestimated job growth by as much as a million jobs.
The actual revision revealed that the job numbers dropped from 2.9 million in the estimate to roughly 2.1 million, a drop of 27.6 percent.
The catastrophic drop marks the largest downward revision to job growth estimates in 15 years.
The bleak revision came as Vice President Kamala Harris’s campaign has tried to convince voters that she and President Joe Biden have led the country to economic prosperity.
This is not the first time job growth numbers have been revised downward under the Biden-Harris Administration.
In 2023, the job growth numbers were revised down dramatically almost every month from the initial growth estimates after the president celebrated the inflated job growth as a victory for his economic policies.
The Maine Wire reached out for comment from the Maine BLS, asking how the public can trust BLS numbers when dramatic revisions are so common, and how they can be assured that there is no partisan influence in the department, but received no response.
Democrats do not care, they thrive on being lied to.
The “Question Authority“ generation is now in power and you’d better NOT question anything!
I am shocked, shocked I tell ya. Labor department just as incompetent as the rest of this administration. Not to worry cackles will fix it with an eraser.
maybe they are lying about the downward revision! maybe its really an upward revsion… when you lie all time why tell the truth
Liars gotta lie! That’s just the way it is!
Harris spent several years living in the riches Canadian Zip code. She is just a poor girl,
working at McDonalds
No surprise here. You can tell dems are lying when their lips are moving!
They don’t exist — just like the 81M votes for Biden
“Were so proud of Bidenomics”.. Har har, snort, har har
Liars Liars Liars
These A hole democrats talk about Trump telling lies .
There is A DIFFERENCE between talking about “ crowd size “ and talking about almost a million jobs .
Democrats tell THE LIES THAT COUNT .
EVERY Day
EVERY Month
EVERY Year
DEMOCRATS ARE LIARS
Vote for more democrats .