The following article, Bidenomics Fail: Labor Department Revises Growth Records Downward, was first published on .
Joe Biden is running around the country telling everyone that his disastrous Bidenomics is “working” for America. But his own government data seems to be saying the opposite.
Even though the Labor Department has tried its best to help Biden by fudging the Gross Domestic Product data and then quietly adjusting it downward after Biden gets favorable news media, the numbers just don’t add up.
The Labor Dept. has been forced to to adjust its numbers down to reflect slower economic growth. And the Commerce Department also revised economic growth downward, dropping last quarter’s Gross Domestic Product by three-tenths of a point from 2.4% to 2.1%.
But these happy-faced, but false, numbers are not reflected by the national mood.
Per Just the News:
“The labor force participation rate is the story there. I think it’s really because people really are running out of money basically to afford living,” said Alfredo Ortiz, the head of the Job Creators Network, small business lobby.
“So overall, I think people are getting concerned. Employers are starting to kind of put a hold on their hiring practices. They’re not necessarily letting people go, but they’re also not bringing people in. And so that is all a concern. The trends, I don’t think are necessarily being shown in the first release of the estimates,” he added.
Since January, the Labor Department has overestimated seasonally adjusted job growth. The agency initially said the U.S. added 517,000 jobs from December to January, but later revised that number to 472,000, reflecting an overestimate of 45,000.
So far this year, the Labor Department has overestimated job growth by 325,000 positions, according to the latest data available, which focuses on growth from January through June.
The Biden administration is constantly lying in a desperate effort to make Biden look better.
Are Americans falling for it?
Let’s hope not.
Continue reading Bidenomics Fail: Labor Department Revises Growth Records Downward ...