President Joe Biden has a long, long history of fudging the truth, exaggerating the facts, plagiarizing others’ work, and simply making stuff up.
That now applies to his jobs data.
As his re-election bid gets underway in earnest, one of Biden’s main talking points is job creation.
Last week, for example, Biden commented on the federal government’s latest jobs stats.
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“This morning’s report confirms that 2023 was a great year for American workers. The economy created 2.7 million new jobs in 2023 — a year when the unemployment rate was consistently below 4 percent — more jobs than during any year of the prior Administration,” he said.
Yet, as the Daily Caller noted on Monday, it was phony.
“The original number of jobs reported by the federal government in 2023 was revised down by a total of 749,000 jobs, meaning nearly one-fourth of jobs thought to be created in the year were not actually there,” the outlet said, noting its own analysis of data compiled by the Bureau of Labor Statistics.
The Daily Caller reported that Biden’s administration initially claimed, based on totals it gave for monthly job growth in 2023, that 3.14 million jobs were added last year.
Then came the revisions.
BLS later shaved 443,000 jobs from the total, and then kicked that up by subtracting in August some 306,000 jobs from March.
“By the time you include all the monthly revisions and the annual benchmark revision, about one-quarter of all the jobs we thought were added last year have been revised away,” E.J. Antoni, a research fellow at the conservative Heritage Foundation, told the Daily Caller.
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“That pattern of consistent downward revisions has happened in two prior recessions. It is a result of market conditions changing too rapidly for the BLS to adjust their methodology, which in turn causes consistent errors in measuring nonfarm payrolls.”
And despite Biden’s crowing about the December report, Antoni added on X, “There’s SO much bad news under the hood of this report, including the economy shedding 1.5 million full-time jobs in a single month, big downward revisions, and a true unemployment rate between 6.4% and 7.5%.”
One example: Antoni noted that one reason Biden took credit for the low unemployment rate was that 676,000 people simply left the job market and gave up looking for work.
“Depending on your preferred method of estimation, we don’t have 6.3 million unemployed w/ an unemployment rate of 3.7%,” he added, “but btwn 11.1 million and 13.1 million unemployed w/ an unemployment rate btwn 6.4% and 7.5%.”
Antoni also highlighted another fact Biden won’t talk about.
A record 8.6 million people now hold at least two jobs to make ends meet. Beyond that, he added, “(With) so many people getting 2nd jobs, it makes sense that part-time jobs are exploding, up 762k in Dec, but full-time jobs are collapsing, plummeting 1.5 million last month, biggest drop since covid.”
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One other disturbing change from last year: Foreign-born workers took roughly twice as many jobs as native-born Americans, whose employment numbers — about 130 million people — have clawed back to where they were in July 2018.
In other words, native-born American workers have “zero ground gained” under Biden.
The Daily Caller added that Biden’s team toyed with numbers in 2023 like never before.
“The number of jobs was revised down for every month in 2023, except July, excluding December which will have any changes announced in the January and February 2024 monthly jobs reports,” the outlet reported.
“The number of downward revisions seen in 2023 was not typical in the two preceding years,” the Daily Caller added, pointing out that the Biden administration lowered the actual number in 2022 five times and just once in 2021.
“If not an economic downturn, there must be something else causing the errors to almost all go in the same direction, and by considerable magnitude,” Antoni further told the Daily Caller. “These patterns in the data clearly indicate that something is not quite right with the number crunching at BLS last year.”
“There are tons of red flags in this jobs report and it’s not the ‘soft-landing’ indicator many are citing it as,” he noted.
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