(FamilyConservationPAC.com) – The Biden-Harris administration’s Department of Labor (DOL) overstated job gains by 818,000 and had to revise the total in its annual benchmark review.
The Department of Labor (DOL) had previously projected that the economy would add around 242,000 monthly jobs. However, examining payroll data from April 2023 to March 2024 revealed that only 174,000 jobs were added monthly.
Nearly half of the downward revisions were for the professional and business services sector, decreasing 358,000 jobs. The Department of Labor also overestimated the leisure and hospitality sector numbers by 150,000, retail trade by 129,000, and manufacturing by 115,000.
The administration’s revision of the job numbers, nearly 30%, is the most significant overestimation since 2009. However, the final figures will not be reported until February 2025.
Former President Donald Trump criticized the Biden-Harris administration for the inflated job numbers, labeling it a “major scandal.”
On Wednesday morning, Trump wrote on social media, “The Harris-Biden Administration has been caught fraudulently manipulating Job Statistics to hide the true extent of the Economic Ruin they have inflicted upon America.”
“New Data from the Bureau of Labor Statistics shows that the Administration PADDED THE NUMBERS with an extra 818,000 Jobs that DO NOT EXIST, AND NEVER DID,” Trump continued. “The real Numbers are much worse than that and, if Comrade Kamala gets another four years, millions more Jobs will VANISH overnight, and Inflation will completely destroy our Country.”
President Trump is accusing the Harris-Biden administration of fraudulently manipulating the Job Statistics to hide the true extent of the economic ruin they have inflicted upon America pic.twitter.com/9DfMaUCBzA
— Kambree (@KamVTV) August 21, 2024
Trump warned that a Harris-Walz administration would eliminate Americans’ life savings.
“With a TRUMP VICTORY, we will once again have the Greatest Economy in History,” he remarked.
During Trump’s campaign stop in North Carolina on Wednesday afternoon, he stated, “It really isn’t a revision. It’s a total lie.”
Jared Bernstein, chair of the White House Council of Economic Advisers, released a statement defending the administration, claiming that “neither the preliminary nor final revision directly affect estimates of job growth in recent months – important to keep in mind when assessing today’s labor market.”
“The estimate of -818,000 is ‘wedged in’ at -68,000 over 12 months of job growth from April 2023 to March 2024. We won’t know if this estimate holds true until February 2025. If it remains the same, it would reduce the job gains over that period from a high 2.9 million to a solid 2.1 million,” Bernstein explained, “or from about 240,000 per month to 170,000 per month.”
He continued, “The latter, also the average over the past 3 months, is strong enough to keep the expansion on pace.”
“The *preliminary* (it will change before it’s official) payroll benchmark revision doesn’t change the fact that there has been and remains a strong jobs recovery, powering real wage gains, solid consumer spending, and record small biz creation,” he said.
Donald Trump on revised job numbers: "The Harris-Biden administration has been caught fraudulently manipulating job statistics to hide the true extent of the economic ruin that they've inflicted on America." pic.twitter.com/hGOck6CatX
— NEWSMAX (@NEWSMAX) August 21, 2024
What else do you believe this administration lied about?
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