Surprising no one, President Biden's final jobs report was "revised" downward - yet again joining every other one of the Bureau of Labor employment statistics reports.
Revised downwards. Every. Damn. Time.
That simply cannot be a happy coincidence.
Legal Insurrection: January Jobs Report: 2024 Employment Revised Down by 600,000
Well, at least it's not the 818,000 fewer jobs than first reported the last time around, but over counting by 600,000 is one heckuva statistical error.
Yet again, these stats aren't just bad because they let Biden trumpet a healthy economy and jobs market that simply wasn't there - in an election year no less.
A major problem when you cook the books on these reports is people do rely upon them. For example the Fed, when considering adjusting interest rates relies on this report, among others. and in such reliance is not cutting rates probably as much as they should as they think the economy is growing just fine. Unfortunately the economy under Biden was presented as being much better than it was due to these cooked statistics.
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