Some fat fingered trader punched in too many 0’s at the Bureau of Labor Statistics and “misinformed” the public that we are not in a recession. A revision from 1 million jobs to just 10,000 seems a bit odd don’t you think? That, coupled with 2 consecutive negative GDP’s tell a very different story from Brandon’s version of growth…
Biden second-quarter job numbers off by 1 million, Philadelphia Federal Reserve Bank says
The Biden administration vastly overstated its estimate that employers created more than 1 million jobs in the second quarter of this year, claiming historic job growth when in fact hiring had stalled, according to a new estimate.
Job growth was “essentially flat” in the second quarter with only 10,500 jobs added, the Federal Reserve Bank of Philadelphia said.
Republicans are accusing the administration of lying about the employment data in an election year and are demanding answers.
, a division of the Department of Labor, estimated net job growth of 1,047,000 jobs in the second quarter. The Philadelphia Fed
now says its data shows that 10,500 net jobs were created in that period.
“Wrong by a million jobs,” Mr. Scott tweeted Friday. “@JoeBiden’s admin has been lying to the American people about our economy to prop up his failed agenda & I won’t stand for it. I’m requesting an immediate meeting with the head of @BLS
_gov. WE NEED ANSWERS NOW!”
President Biden had boasted about the second-quarter job numbers in the heat of the midterm election campaign, using the BLS
report as proof that the nation wasn’t headed for a recession.
“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic,” Mr. Biden said on July 8.
Looking at specific states in its region, the Philadelphia Fed
said job growth in Pennsylvania for the second quarter was “essentially flat,” while the BLS
had reported job growth of 2.9%.
In New Jersey, payroll jobs fell 1.2% in the second quarter, instead of the 3.4% growth reported by the BLS
In the president’s home state of Delaware, payroll jobs fell by 4.1%, rather than the 4.5% growth reported by the BLS