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Joe Biden and Kamala Harris were cooking the books the whole time and lying to the American people.
The Bureau of Labor Statistics will downward revise jobs AGAIN on Wednesday by up to 1 MILLION!
On Wednesday, the Bureau of Labor Statistics will downward revise jobs for the April 2023-March 2024 period by up to 1 million. This means that all "beats" recorded in the past year will have been misses and the US job market is in far worse shape than the admin would admit.
— zerohedge (@zerohedge) August 18, 2024
According to Bloomberg, payrolls growth between April 2023 to March 2024 was up to 1 million weaker than previously reported.
source: Bloomberg
Bloomberg reported:
US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.
While JPMorgan Chase & Co. forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million.
There are a number of caveats in the preliminary figure, but a downward revision to employment of more than 501,000 would be the largest in 15 years and suggest the labor market has been cooling for longer — and perhaps more so — than originally thought. The final numbers are due early next year.
Such figures also have the potential of shaping the tone of Fed Chair Jerome Powell’s speech at week’s end in Jackson Hole, Wyoming. Investors are trying to gain insight as to when and how much the central bank will start lowering interest rates as inflation and the job market cool.
President Trump responded to the new report that the jobs numbers under Biden and Harris are fraudulent.
“There has been a report that the jobs numbers are fraudulent,” Trump said. “That’s a terrible insult to our economy.”
WATCH:
PRESIDENT TRUMP: There has been a report that the jobs numbers are fraudulent. They keep getting revision down. "That's a terrible insult to our economy." pic.twitter.com/mmeCLEjZcS
— Trump War Room (@TrumpWarRoom) August 20, 2024
Not only are the jobs numbers fraudulent, all jobs recovered post-Covid under Biden-Harris went to foreign-born workers – including illegal aliens.
Per the Center for Immigration Studies: All employment growth has gone to the foreign-born. 183,000 fewer U.S.-born Americans are working than in 2019, before Covid. Yet, the number of immigrants (legal and illegal) working is up 2.9 million over 2019.
All employment growth has gone to the foreign-born. 183,000 fewer U.S.-born Americans are working than in 2019, before Covid. Yet, the number of immigrants (legal and illegal) working is up 2.9 million over 2019. pic.twitter.com/qVTbLptXw6
— Center for Immigration Studies (@CIS_org) February 13, 2024
Kamalanomics: Screw Americans at all costs then lie about it with fraudulent jobs reports.
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