by Jack Montgomery at The National Pulse
Cumulative revisions to monthly jobs reports from January through November 2023 suggest that at least 443,000 fewer jobs were created in Joe Biden’s economy than the public was initially told.
The U.S. Bureau of Labor Statistics (BSL) publishes monthly job reports. Its figures often show job creation has been “surprisingly” high, with Biden’s economy stronger on paper than expected, given “hardship withdrawals” are rising and polls show most Americans feel the country is not performing well.
However, revisions to BSL job estimates over the course of the year indicate that people are not wrong to feel a disconnect between the numbers and their lived experiences. Revisions were downwards in 10 months out of the 11 for which revised estimates are available. The revisions are not small, either.
In June, the new jobs estimate was cut almost in half, dropping from 209,000 to 105,000. September, February, and May also saw big cuts of 74,000, 63,000, and 58,000, respectively…
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