The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on December 21, 2022, 01:42:53 am
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Biden second-quarter job numbers off by 1 million, Philadelphia Federal Reserve Bank says
By Dave Boyer - The Washington Times
Friday, December 16, 2022
The Biden administration vastly overstated its estimate that employers created more than 1 million jobs in the second quarter of this year, claiming historic job growth when in fact hiring had stalled, according to a new estimate.
Job growth was “essentially flat” in the second quarter with only 10,500 jobs added, the Federal Reserve Bank of Philadelphia said.
Republicans are accusing the administration of lying about the employment data in an election year and are demanding answers.
The Philadelphia Fed’s new assessment shows that employment numbers in 29 states and the District of Columbia were significantly lower than the Bureau of Labor Statistics reported for the March-through-June period.
The BLS, a division of the Department of Labor, estimated net job growth of 1,047,000 jobs in the second quarter. The Philadelphia Fed now says its data shows that 10,500 net jobs were created in that period.
Republican Sen. Rick Scott of Florida called the development “outrageous.”
“Wrong by a million jobs,” Mr. Scott tweeted Friday. “@JoeBiden’s admin has been lying to the American people about our economy to prop up his failed agenda & I won’t stand for it. I’m requesting an immediate meeting with the head of @BLS_gov. WE NEED ANSWERS NOW!”
more
https://m.washingtontimes.com/news/2022/dec/16/biden-administrations-claim-1-million-jobs-added-s/
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Off by a million? ....hmm Joe and the DEMS seem to have a 'counting' problem.
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By Ben Whedon
Updated: December 20, 2022 - 11:35pm
An assessment from the Philadelphia Federal Reserve has found that the Bureau of Labor Statistics dramatically overstated second quarter jobs numbers, prompting scrutiny from Republicans who have raised concerns of politically motivated manipulation of federal statistics.
The BLS reported that the U.S. economy saw a net gain of 1,047,000 jobs in the second quarter, per the Washington Times, while the Philadelphia Fed contends the figure was actually a mere 10,500 jobs.
Moreover, BLS data overstated employment numbers in 29 states and the District of Columbia by significant margins compared to the same metrics from the Philadelphia Fed report.
In some states, the differences were stark. In President Joe Biden's home state of Delaware, for example, the BLS had reported a 4.5% increase in payroll jobs, whereas the Philadelphia Fed found the actual rate was a 4.1% loss.
The Philadelphia Fed contends that its metrics are more reliable because it draws its data from the "more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages program," per the outlet. The BLS stats use monthly reported data.
more
https://justthenews.com/politics-policy/biden-admin-overstated-jobs-numbers-more-1-million-raising-questions-about
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No, this can’t be true. This Administration would never fudge numbers, would they?