The Bureau of Labor Statistics has “revised” job growth numbers from the first quarter of 2024, showing up to a million jobs didn’t actually exist, writes Katie Pavlich of Townhall.com.
The Bureau of Labor Statistics (BLS) finally admits that they have been lying about job numbers.
— Wall Street Silver (@WallStreetSilv) August 20, 2024
1 million jobs disappearing. pic.twitter.com/hqCMs8Uomh
“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,” Bloomberg reports. “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.”
The “revision” is being blasted by the Trump campaign as a lie and election interference while Vice President Kamala Harris attempts to distance herself from the poor economic policies of the Biden-Harris administration.
NFP Shocker…more downward revisions
— Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) August 2, 2024
The change in total nonfarm payroll employment for May was revised down by 2,000, from
+218,000 to +216,000, and the change for June was revised down by 27,000, from +206,000 to
+179,000. With these revisions, employment in May and June…
“Kamala was cooking the books the whole time — and lying to the American people while she did it,” the Trump campaign posted on X.
“This isn’t a ‘revision,’ @BGOV, this is a LIE! And it’s Election Interference!” senior Trump campaign Advisor Jason Miller added. “The Harris Administration has been cooking the books the entire time and now it’s caught up to them!”
The Bureau is scheduled to announce the adjustment during peak time during the Democratic National Convention as it is unlikely the MSM will run adverse news during prime campaign time.
The April jobs number was revised down from 165,000 to 108,000 and the May jobs number was revised down from 272,000 to 218,000. These are massive revisions, not just a rounding error or ‘minor adjustment’.