Under President Joe Biden, the BLS has been consistently inflating monthly job growth numbers.
Last month, for example, BLS said that the economy created 272,000 jobs, which the media branded as "Whopping," "Robust," "Vigorous," and a "Blowout." Economists had expected 190,000 new jobs in May. But on Friday, the Bureau of Labor Statistics admitted that it had overestimated job gains in May by 20%, with the new figure just barely above economists' expectations.
January's 353,000 new jobs - which reportedly "Blew economists' expectations out of the water" - was almost 100,000 jobs too high.
' As a result, the BLS overestimated job growth by about 60,000 each month last year.
As we pointed out in June, even these numbers are too rosy, because most of the jobs "Created" have been part-time work - many held by people taking on second or third jobs to make ends meet under Biden's "Rescued" economy.
BLS data show that there are 319,000 more adults working multiple jobs today than there were a year ago.
All of which helps to explain why, when 1.3 million jobs were supposedly created this year, the number of unemployed climbed by almost 700,000 and the unemployment rate went from 3.7% to 4.1%. And this is to say nothing of the fact that most of the jobs created went to foreign-born, not native Americans, and real wages are lower today than they were when Biden took office.
https://issuesinsights.com/2024/07/06/how-did-250000-jobs-suddenly-vanish-this-year/
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