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IPFS News Link • Employment & Jobs
Trump Says That It Is A "Massive Scandal" That Democrats Got Credit For 818,000 "New
• https://theeconomiccollapseblog.com, By MichaelNow they are telling us that 818,000 "jobs" that the U.S. economy supposedly "created" never actually existed at all. As you will see below, Donald Trump is calling this a "massive scandal" and he is right. Month after month, we are given employment numbers that are grossly overstated and everyone knows it. The grossly overstated numbers make the economy look far better than it actually is, and if Americans perceive that the economy is doing well they will be more likely to vote for the party that is already controlling the White House. Over the past few years, the difference between economic reality and what the government is actually reporting to us has become absolutely enormous, and many believe that this is being done for nefarious political reasons.
We all knew that the revision that we were going to get on Wednesday would be huge, but very few expected that it would be this huge…
U.S. job growth during much of the past year was significantly weaker than previously reported, according to new data published Wednesday.
The Bureau of Labor Statistics revised down its total tally of jobs created in the year through March by 818,000 as part of its preliminary annual benchmark review of payroll data. That suggests the economy added an average of 174,000 jobs per month during that time period — below the previous 242,000 estimate. On a monthly basis, that amounts to about 68,000 fewer jobs.
How can the BLS be off by 818,000 jobs?
Either the BLS is highly incompetent, or else something else is going on here.
Approximately 30 percent of the "new jobs" that were reported during the 12 months ending in March have been suddenly wiped out.
Month after month, the employment numbers have made the Democrats look good, and now we have learned that those numbers were fraudulent.