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Biden Overestimates Job Growth by Almost One Million Jobs

Biden Overestimates Job Growth by Almost One Million Jobs

In the tech sector, it’s called “vaporware” something that is touted as something huge and monumental – but amounts to nothing. And it seems like Biden’s job growth numbers are as long on promise and as short on delivery as the infamous Apple Television Interface.

For months now the Biden administration has been trumpeting its “phenomenal” numbers on job growth, however, those numbers seem to be part of a disappearing act that would make David Blaine proud! Newly released data shows that those numbers were by almost 800,000 in 2023. According to the Washington Times that translates to about 1 in 4 jobs that were supposedly added last year never actually existed.

POOF!

That’s like eliminating all of the jobs gained in three whole months of 2023. But don’t expect the lamestream media to mention the data deficit.

These kinds of overly optimistic employment estimates help explain why polling of people’s perceptions of the economy has been so terrible yet the official data from the Biden administration has looked so robust, at least in terms of the number of jobs. Much of the other data has been downright rotten.

With prices rising faster than earnings, the average worker’s weekly paycheck buys almost 5% less today than when President Biden took office. Homeownership affordability has plummeted because the monthly mortgage payment on a median-price home has more than doubled. Three-quarters of Americans now view fast food as a luxury they can’t afford. Gasoline prices are up 46%.

And now, even those “unprecedented” job numbers have lost their luster, especially when you consider that millions of those added jobs are from double counting. Whenever someone who is already employed has to get a second—or even a third—job just to help make ends meet, that increases the number of payrolls, without increasing the number of people employed.

The fruit of the tree of “Bidenomics” has ripened, and Americans don’t enjoy its bitter taste. No matter how much the fruit salesman tries to convince customers otherwise, the taste of his product matters much more than his advertising.

Rhetoric is no substitute for results, and proclaiming Bidenomics as a success does little to convince suffering Americans who know they were much better off four years ago!

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1 Comment

  1. Tom

    Tis a repeat from BS. I guess he did not like it that very few responded the first time! Since this is a repeat article, I will give it my repeat answer!

    I think BS has a tolerance of +/- 25% on this article but did not say.

    I do not trust the figures in this article. DOL says the following on June 19, 2024, ““Today, the Bureau of Labor Statistics reported that the American economy added 353,000 jobs in January, bringing the total jobs created under President Biden to 14.8 million. The unemployment rate held at its steady, low rate of 3.7 percent. This continues a two-year trend of a jobless rate under four percent, the longest stretch in more than 50 years. (take that and stick it where the sun don’t shine Trump!!!! ” See *https://www.dol.gov/newsroom/releases/osec/osec20240202* for more details.

    BS does not say where the data comes from. But lets just look purely at numbers and assume BS’s 800,000 is correct – which I doubt. This would mean that the Biden Administrations figures are off by about BS/DOL = 800,000 / 14,800,000 = 5.4%

    So as an Independent, this article was a nothing burger the first time it was run, and is still a nothing burger in its repeat life!! (Remembering Stetson 🙂

    Reply

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