Vice President Kamala Harris is probably ready to pull her hair out after a recent revision to the latest jobs report is destroying the number one talking point her campaign was using against former President Donald Trump. Of course, the talking point was a big, fat lie, but hey, truth has never gotten in the way of a good narrative for the radical left.
For quite some time, President Joe Biden and the vice president have managed to screw around with the jobs numbers in such a way as to make it appear new jobs were being created like crazy. This would inflate other figures and create the illusion that our economy is actually doing great under Democratic Party leadership. Sorry, but the experience regular Americans are having as they go to the grocery store on a weekly basis is telling a totally different tale.
According to Trending News Politics, figures released by the U.S. Labor Department on Wednesday have revised estimates for the previous 12 month, taking out 818,000 jobs, which negates all of the growth being cited by Harris in her campaign for the White House. There has been a pattern of division that have become a trait of this administration’s reporting process. The make an absurd claim about the growth of the jobs market in order to get some positive press, then change those numbers to something substantially lower a few months later, after all the attention has died down. They obviously hope people aren’t paying attention at that point.
Pretty underhanded, right?
To give this revision some context, it’s the biggest downward adjustment that’s been made in the last 15 years.
BREAKING: 818,000 jobs that the Biden-Harris admin claims to have created have just been wiped off the books.
This is the largest downward revision in jobs in 15 years!!
All job growth has gone to illegals and immigrants. Trump was right once again. pic.twitter.com/flEZxHNqgb
— Charlie Kirk (@charliekirk11) August 21, 2024
In May, Heritage Foundation economist E.J. Antoni noted that unemployment claims remained largely unchanged, a result that fails to mirror the alleged increasing number of American workers moving in and out of the economy. Instead, the Labor Department now projects that the U.S. averaged just 178,000 jobs created per month compared to the original claim of 246,000 jobs per month, according to the Wall Street Journal. Investors had expected a downward revision, though not of this scale, but market reaction to the news was relatively muted. A full adjustment to the official numbers will not be made until February of next year, the outlet added.
Layoffs, layoffs, everywhere, but not a claim to file?
At this point, there's no good explanation left for what's going on w/ UI claims, either initial or continuing; not only is nothing matching up anymore, but the rock-solid steadiness of these levels makes even less sense: pic.twitter.com/6OVVVPskSs— E.J. Antoni, Ph.D. (@RealEJAntoni) May 2, 2024
While stumping for the Oval Office, Harris has made the comparison between the current administration’s record for job creation to the last year of Trump’s presidency, which was when the coronavirus pandemic was full swing and businesses and families were forced to rely on trillions of dollars from government subsidies in order to survive. A whopping 12 million jobs were wiped out during that period of time, with half of them recovered by the end of the year. However, while Trump was in office, the number of available jobs skyrocketed, hitting an all-time high of 27.9 percent.
TPN concluded their report by saying, “Traders are waiting to see whether Federal Reserve Chairman Jerome Powell will lower rates next month, a potential move that Democrats like Sen. Elizabeth Warren (D-MA) have called urgent while President Trump has claimed would amount to a campaign contribution for Harris. The latest jobs figures are a fresh reminder that turbulence in the market remains very much a contributing factor in the Fed’s decision-making; the yield on the 10-year Treasury note was 3.820%, according to Tradeweb, up from 3.818% Tuesday.”
"*" indicates required fields