2023 US job numbers inflated by BLS, quietly revised: Report

 January 8, 2024

President Joe Biden and his surrogates have been quick to tout the growth in the U.S. job market in 2023.

Many had a feeling that something wasn't adding up. As much as the Biden admin and Democrats want to gaslight America into thinking everything's ok, it's clearly not.

According to the New York Post, as it turns out, the administration was definitely not being truthful about the previously touted tremendous growth in the job market.

The outlet noted:

The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows.

That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.

That inflated number mattered, big time, as job numbers drive many of the forces behind the U.S. economy, including how the Fed approaches interest rates, among other critical decisions.

David Rosenberg, founder of Rosenberg Research Associates, held nothing back in calling out the false numbers.

"Time to stop trading off the payroll data. The downward revisions in 2023 totalled an epic 443k. More than 40% of payroll growth in 2023 didn’t even come from the survey but from the fairy-tale ‘Birth-Death’ model," Rosenberg posted on X.

The Post explained:

By his calculations, he says the downward revisions came to “an epic 443,000,” adding, “more than 40% of payroll growth in 2023” came from “the fairy tale ‘Birth-Death’ model” the BLS uses to “guesstimate” its jobs reports.

Sadly for Americans' pocketbooks, it's not the first time the BLS has grossly overstated job numbers under the Biden administration.

Social media users reacted to the news, with many criticizing the Biden administration and accusing it of outright lying to make the economic situation look like it's not totally failing.

"Biden & his administration are liars! Who would believe the rosey picture they are trying to paint? Go to the grocery store, get your utility bills, tell me everything is honky dory!" one X user wrote.

Another X user wrote, "Gosh, it's almost like somehow this administration is getting knowingly incorrect data released to try and look good."

Nailed it.