• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
Nearly $100 Billion Reportedly Stolen From COVID Relief Programs

US Employment Reports Greatly Exaggerated, Over 400,000 Jobs Mistakenly Added to Total

January 8, 2024
Corporate America Retreats From Gay Pride Events Across US Amid Trump DEI Crackdown

Corporate America Retreats From Gay Pride Events Across US Amid Trump DEI Crackdown

May 24, 2025
5 Issues That Might Decide Fate Of Trump’s ‘Big, Beautiful’ Bill In Senate

5 Issues That Might Decide Fate Of Trump’s ‘Big, Beautiful’ Bill In Senate

May 24, 2025
JORGE MARTINEZ: President Trump Is Powering America’s Economic Comeback

JORGE MARTINEZ: President Trump Is Powering America’s Economic Comeback

May 24, 2025
EXCLUSIVE: FCC Commissioner Wants Regulatory ‘Cows’ Lined Up ‘For The Slaughterhouse’

EXCLUSIVE: FCC Commissioner Wants Regulatory ‘Cows’ Lined Up ‘For The Slaughterhouse’

May 24, 2025
JUSTIN EVAN SMITH: Progressives Find Religion On The Shadow Docket

JUSTIN EVAN SMITH: Progressives Find Religion On The Shadow Docket

May 24, 2025
CASEY RYAN: Teachers’ Unions Are A Stain On Education

CASEY RYAN: Teachers’ Unions Are A Stain On Education

May 24, 2025
Trump Admin Reportedly Cleans House At National Security Council

Trump Admin Reportedly Cleans House At National Security Council

May 23, 2025
DOJ Lets Boeing Escape Felony Charges Over Deadly Plane Crashes

DOJ Lets Boeing Escape Felony Charges Over Deadly Plane Crashes

May 23, 2025
Memorial Day Weekend Gas Prices Hit Lowest Average Since 2021

Memorial Day Weekend Gas Prices Hit Lowest Average Since 2021

May 23, 2025
Trump Announces Major Job-Creating Deal That Biden Blocked On His Way Out The Door

Trump Announces Major Job-Creating Deal That Biden Blocked On His Way Out The Door

May 23, 2025
‘Ouch’: Ex-Obama Aide Saddened By ‘Depressing’ New Data Showing Trump Took His Old Boss’ Coalition

‘Ouch’: Ex-Obama Aide Saddened By ‘Depressing’ New Data Showing Trump Took His Old Boss’ Coalition

May 23, 2025
Trump Budget Czar Thumbs Nose At ‘Partisan’ Watchdog Over Impoundment Allegation

Trump Budget Czar Thumbs Nose At ‘Partisan’ Watchdog Over Impoundment Allegation

May 23, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Saturday, May 24, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

US Employment Reports Greatly Exaggerated, Over 400,000 Jobs Mistakenly Added to Total

by Western Journal
January 8, 2024 at 11:55 am
in News
245 7
0
Nearly $100 Billion Reportedly Stolen From COVID Relief Programs

In this photo illustration, a person files an application for unemployment benefits on April 16, 2020, in Arlington, Virginia. - The government reported Thursday that another 5.2 million US workers filed for unemployment benefits, taking the four-week total to 22 million, a staggering figure in a downturn that economists say presents the country with its most severe outlook since the Great Depression of the 1930s. (Photo by Olivier DOULIERY / AFP) (OLIVIER DOULIERY/AFP via Getty Images)

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Just because there is a number in a jobs report from the Biden administration’s Bureau of Labor Statistics does not mean it is necessarily so.

That’s the bottom line of a Fox Business report Saturday that said in the first 11 months of 2023, jobs reports overestimated the number of jobs created by 439,000 positions.

At a time when “Bidenomics” has become President Joe Biden’s shorthand for the economic growth he says he has achieved, Fox Business said the numbers indicate “the job market is not as healthy as the government suggests.”

Fox News noted the jobs report drives a number of economic decisions, from the stock markets to interest rates.

David Rosenberg, founder of Rosenberg Research Associates, offered different numbers but the same conclusion.

“Time to stop trading off the payroll data. The downward revisions in 2023 totalled an epic 443k. More than 40% of payroll growth in 2023 didn’t even come from the survey but from the fairy-tale ‘Birth-Death’ model,” he posted on X.

Time to stop trading off the payroll data. The downward revisions in 2023 totalled an epic 443k. More than 40% of payroll growth in 2023 didn’t even come from the survey but from the fairy-tale ‘Birth-Death’ model.

— David Rosenberg (@EconguyRosie) January 5, 2024

The problem of overstated job numbers is not a new one.

Bureau of Labor Statistics figures have been wrong before.

In August, the agency admitted that from March 2022 to March 2023, it overstated job growth by 306,000 jobs. The totals included a 358,000 decline in private sector jobs and an increase in government hiring of 52,000 jobs.

In December 2022, the Philadelphia Federal Reserve Bank estimated that the official federal data overstated growth by 1.1 million jobs in the second quarter of 2022.

#Bidenomics – two new jobs created per person and you’re working both of them.#DementiaJoe https://t.co/HinLnPPNRE

— Thomas J. Quinlan (@thomas_quinlan) January 4, 2024

The totals are only part of what Fox Business noted in the job numbers.

One area of job growth in the past three months has been the government sector. Taxpayer-funded government jobs increased at a rate of about 50,000 a month, according to Fox.

December’s jobs report showed 683,000 people stopped looking for work.

Fox Business said a record 8.69 million people now hold multiple jobs, noting that since June, the economy has shed 1.5 million full-time workers and added 796,000 part-time workers.


This article appeared originally on The Western Journal.

Tags: Biden administrationJobsJoe Bidenthe economyU.S. News
Do you think Biden’s economy is struggling?

Completing this poll entitles you to our news updates free of charge. You may opt out at anytime. You also agree to our Privacy Policy and Terms of Use.
Yes: 99% (152 Votes)
No: 1% (2 Votes)
Share196Tweet123
Western Journal

Western Journal

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th