Former President Donald Trump has labeled revised jobs data released today a “massive scandal” after it was revealed that the US economy created 818,000 fewer jobs than originally reported.
The Bureau of Labor Statistics definitively stated today that the jobs growth data for the 12 months leading up to March was in fact 30 percent lower than the initial figure of 2.9 million. This significant update, based on more detailed quarterly data, represents the largest downward revision since 2009.
The figures clearly show that the labor market started cooling much earlier than initially believed. Trump directly accused the Biden-Harris administration of fraudulently manipulating job statistics to hide the full extent of the economic damage they have inflicted upon America.
The Democrats, like the news media, persist in spreading lies.
John 8:44 Ye are of your father the devil, and the lusts of your father ye will do. He was a murderer from the beginning, and abode not in the truth, because there is no truth in him. When he speaketh a lie, he speaketh of his own: for he is a liar, and the father of it.
“On his social media platform Truth Social, he alleged that the data indicates the administration “inflated the numbers with an additional 818,000 jobs that are nonexistent and never existed.” He also stated that if Kamala Harris were to win the election, “millions more jobs would disappear overnight, and inflation would completely devastate our country.”
The Battle in Society is Truth versus Lies (transformedbythetruth.com)
During a campaign rally in North Carolina this afternoon, the former president reiterated his accusations. A market sell-off earlier this month was triggered by concerns over a slowing labor market, sparking fears that the US economy is headed toward a recession.
The number of jobs added in the US during July fell well below expectations.This led to an increase in the unemployment rate to 4.3 percent, the highest level since October 2021. Rob Wilson, President of Employco USA, a firm specializing in employment solutions, commented, “We knew when there was a delay that the numbers weren’t going to be good.”
“This is a big miss by the Labor Department,” said Rob Wilson, President of Employco USA, an employment solutions firm. “For this to happen during an election year is particularly concerning. We will never know how much these inaccurate numbers impacted the election, but it’s very troubling to know that false data influenced Americans’ voting decisions,” he added.
Goldman Sachs economists confidently predict that job growth for the year will fall short by at least 600,000 compared to estimates, and there is a possibility of a decline of up to a million.
Fed Chair Jerome Powell will consider the updated data when he delivers a speech at the annual symposium in Jackson Hole, Wyoming, on Friday. During the central bank’s recent meeting, it emphasized its focus on the labor aspect of its dual mandate, which also involves reducing the annual inflation rate to its 2 percent target.
Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.
1 Timothy 6:10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
Hebrews 13:5 Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee.
Matthew 6:19 Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:
Matthew 6:20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:
Matthew 6:21 For where your treasure is, there will your heart be also.
Matthew 6:24 No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and money.
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