Joe Biden gives an Oval Office address on dropping out of the presidential race, pool photo by Evan Vucci,/Getty, July 24, 2024.
Democrats including Joe Biden are boasting about the strength of the latest job reports. However, the numbers aren’t actually as promising as they may seem.
In September, the U.S. economy added 254,000 jobs, significantly surpassing expectations and leading traders to anticipate a slower pace of interest rate cuts by the Federal Reserve following last month’s substantial reduction.
The figures, first reported by the Bureau of Statistics, exceeded the previous forecast of 140,000 from economists polled by Reuters.
It also marked an improvement over August’s upwardly revised gain of 159,000 jobs. The unemployment rate dropped to 4.1 percent, down from 4.3 percent in July, which had been near a three-year high.
However, ZeroHedge explains that while the number of jobs to foreign-born workers actually fell from an all-time high, a large proportion of these gains are taken by government workers:
His report explains:
And yet, it didn’t take long to find what the BLS did this time to make the jobs appear much stronger than expected, a political imperative for the highly politicized agency tasked with making the Kamala/Biden economy appear stronger than it was exactly one month ahead of the election.
The answer, ironically, was in the number of government workers, which exploded higher, and were not only instrumental in pushing the Household Survey print much higher, but meant the difference between a 4.1% and 4.5% unemployment rate.
Here is what happened. In September, the number of government workers as tracked by the Household Survey soared by 785K, from 21.421 million to 22.216 million, both seasonally adjusted (source: Table A8 from the jobs report).
This was the biggest monthly surge in government workers on record (excluding the outlier print in June 2020 which was a reversal of the record plunge from the Covid collapse months before).
Meanwhile, Florida Senator Marco Rubio pointed out that previous jobs reports have been manipulated by the Biden regime and their media propagagandist before later being revised downwards.
Another fake jobs report out from Biden-Harris government today
16 of the last 17 reports have been significantly revised downwards after media helps them with their fake headlines
But all the fake numbers in the world aren’t going to fool people dealing with the Biden-Harris…
— Marco Rubio (@marcorubio) October 4, 2024
In short, the U.S. economy is far weaker than it was when Donald Trump was in office. America’s current unemployment figures are indeed positive, but this does negate the devastating impact that inflation and the cost of living crisis have wreaked on ordinary Americans.
At a press briefing on Friday, Joe Biden was asked about Rubio’s comments and insisted that this was “incredibler news” for the American economy.
“From the very beginning, we were told time and again that the policies we were pursuing we put forward weren’t going to work, make things worse, including some of the other team are still saying they’re going to make things worse, but we’ve proven them wrong,” he said.
“Look, I’m going to be very careful here. If you notice anything MAGA Republicans don’t like they call fake. anything. The job numbers are what the job numbers are. They’re real.”
Here’s everything you need to know about the so-called great jobs report:
Over the last year, employment for native born American workers fell by 825K
For foreign born workers, it increased by 1.2M.
The story of job growth under Biden/Kamala is taking credit for added back… pic.twitter.com/CBp99XNsPm
— Greg Price (@greg_price11) October 4, 2024
The post Democrats Celebrate a Seemingly Impressive September Jobs Report – Here’s What The Media is Not Telling You appeared first on The Gateway Pundit.