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Biden-Harris Administration Overstates Job Growth by Nearly One Million Jobs
Written by Peter Boykin on August 22, 2024
Biden-Harris Administration Overstates Job Growth by Nearly One Million Jobs
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Biden-Harris Administration Overstates Job Growth by Nearly One Million Jobs
Biden-Harris busted inflating job numbers
The Biden-Harris administration has recently come under scrutiny for significantly overestimating job growth over the past year. This revelation challenges the administration’s claims about the strength of the U.S. economy, raising concerns among Americans.
The Bureau of Labor Statistics (BLS) revised its earlier report on job growth, showing a decrease of 818,000 jobs for the period between April 2023 and March 2024. The adjustment drops the average monthly job growth from 242,000 to 174,000, marking the largest correction in 15 years. Particularly concerning is the revelation that 115,000 fewer manufacturing jobs were created than initially reported.
The BLS conducts an annual review of tax-related data from U.S. companies, allowing them to provide a more accurate assessment of job creation. This process has uncovered the significant discrepancy in the administration’s earlier job growth figures.
There has been growing skepticism that the Biden-Harris administration might be presenting an overly optimistic picture of the economy. Several indicators suggest economic challenges:
– The unemployment rate has risen to 4.3%, the highest level since 2021.
– Credit card delinquency rates have reached a 12-year high.
– Credit card debt has surged to record levels.
– The U.S. national debt has surpassed $35 trillion.
Trump’s Response:
Former President Donald Trump reacted strongly to the news, taking to Truth Social to voice his concerns. He stated, “MASSIVE SCANDAL! The Harris-Biden Administration has been caught fraudulently manipulating Job Statistics to hide the true extent of the Economic Ruin they have inflicted upon America… if Comrade Kamala gets another four years, millions more Jobs will VANISH overnight, and Inflation will completely destroy our Country. YOUR LIFE SAVINGS WILL BE WIPED OUT. With a TRUMP VICTORY, we will once again have the Greatest Economy in History. MAGA2024!”
Analysis:
The concerns expressed by Trump resonate with many who fear the current administration’s economic policies could further harm the nation’s financial stability. The situation raises questions about whether the economy is being artificially propped up, potentially jeopardizing long-term growth and stability. The need for strong leadership to revitalize the U.S. economy is evident, and many look to Trump as a solution to these challenges.
[Source: NBC News, NBC News, Market Watch, US Debt Clock, Trump on Truth Social, The National Pulse, Breitbart]
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