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The Biden regime was forced to make one admission that dealt a massive blow to Kamala Harris’ economic plan

The Biden regime was forced to make one admission that dealt a massive blow to Kamala Harris’ economic plan


This article was originally published on Conservative Underground - Politics. You can read the original article HERE

Photo by Gage Skidmore, CC BY-SA 2.0, via Flickr, https://creativecommons.org/licenses/by-sa/2.0/

The left hand of the United States government never seems to know what the right hand is doing.

With so many issues being mishandled or never addressed at all, it’s no wonder most people no longer trust government.

And now the Biden regime was forced to make one admission that dealt a massive blow to Kamala Harris’ economic plan.

Revised BLS jobs number could spell trouble for Kamala

Several economists and analysts are starting to look at what the revised jobs numbers could mean for the economy.

A historic jobs data revision from the Bureau of Labor Statistics (BLS) reduced the total number of jobs created in March by 818,000.

The revision signals weaker job growth than what was previously reported and deals a big blow to its annual benchmark review of national payroll data.

Former Trump administration senior economic adviser Stephen Moore said on Fox Business’ Varney & Co., “This is a big blast against Bidenomics. There’s something strange going on in these jobs reports. . . they keep revising these numbers down.”

Another expert, Optimal Capital’s Frances Newton Stacy, told Fox Business’ Neil Cavuto, “The jobs revision today, I think is a big deal. And I think that’s the reaction that you’re seeing in job markets because that’s going to put more pressure on the Fed.”

The updated number marks the largest downward jobs revision since 2009, suggesting the labor market had already been losing steam much earlier than many people thought.

Much of the data came from state unemployment tax records, which all employers nationwide are required to file.

Those same numbers could be updated again when the government releases the final figure in February 2025.

Moore noted that the change was a “giant revision.”

“This is a giant error,” he said. “Now, I am not accusing the Bureau of Labor Statistics [of] fudging the numbers. I just think there’s something wrong in this modern age, the way that they’re calculating the jobs.”

“But boy, if it’s close to a million, that means the American economy has performed a lot weaker than we have been saying for the last couple of years,” he added.

Not a good look for Biden and Harris

The much lower number from the BLS indicates that the economy is not in a healthy state, and that falls squarely on the shoulders of President Joe Biden and Vice President Kamala Harris.

Unfortunately, the campaign hype is overshadowing this important information, leaving most Americans to believe that things are looking up.

Meanwhile, some economists predict that the Federal Reserve will cut rates at its next meeting in September.

Newton Stacy says it makes her wonder why the Fed waited so long and whether it took much too long to decide to cut rates.

She noted that it is “estimated that GDP is actually going to slow” and that there has been a “record amount of time where we’ve had these elevated interest rates, and the fiscal spending has been holding us up, which we think is going to continue.”

Biden’s White House Council of Economic Advisers Chair, Jared Bernstein, told Fox Business that the numbers “[don’t] change the fact that the jobs recovery has been and remains historically strong, delivering solid job and wage gains, strong consumer spending, and record small business creation.”

This article was originally published by Conservative Underground - Politics. We only curate news from sources that align with the core values of our intended conservative audience. If you like the news you read here we encourage you to utilize the original sources for even more great news and opinions you can trust!

Read Original Article HERE



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