Fact Check: Lousy Jobs Report Brings Out The Worst In Biden-Harris
I & I Editorial Board
August 5, 2024
Shortly after Friday’s anemic jobs report came out, the stock market tumbled, recession fears rose, and the Biden-Harris administration issued another Pollyannish report about how great the economy is doing – this time with bigger and bolder lies.
Not only did just 114,000 jobs get created in July, which was well below economists’ expectations, but the jobless rate went up for the fourth consecutive month to 4.3% as 352,000 joined the unemployment lines. That’s not exactly “Morning in America.”
It gets worse.
The Bureau of Labor Statistics also admitted that it had overestimated the job gains in both May and June by a total of 29,000. This continues a nearly unbroken and highly suspicious trend that has resulted in the BLS claiming big job gains each month – which garnered great press for Biden-Harris – then quietly cutting those numbers in subsequent months, often by substantial amounts. So far this year, 279,000 have disappeared.
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https://issuesinsights.com/2024/08/05/lousy-jobs-report-brings-out-the-worst-in-biden-harris/
