By Linda Stein
Delaware Valley Journal, West Chester, Pa.
(TNS)
Aug. 22—The Bureau of Labor Statistics revised its annual jobs report by a whopping 818,000 jobs. That’s close to 1 million jobs “created” during the Biden-Harris administration that never existed.
And it’s the largest downward jobs report revision in 15 years—that was in 2009, when the country was in the midst of the Great Recession. Pennsylvania’s revision for March 2024 was minus 1,600, or less than -0.05 percent, according to the state Department of Labor & Industry.
The news from the BLS sparked an immediate backlash from Biden critics.
” Bob Casey lied again,” Republican Dave McCormick—a former hedge fund CEO who is running against longtime Democratic incumbent Sen. Bob Casey—posted on X.
In April, Casey had posted to X, “We’ve seen continuous growth over the last 39 months. Democrats have built a strong economy, and we did it by putting the middle class over the ultra-rich and big corporations.”
The revision means there were 68,000 fewer jobs per month than originally claimed. Neither the Harris nor Casey campaigns responded to requests for comment.
The Trump campaign was quick to pounce.
“It’s not a ‘revision,’ it’s another Harris-Biden lie being exposed,” said Trump spokesman Kush Desai. “Two-thirds of the jobs Harris-Biden claim to have “created” are actually jobs recovered from the pandemic. In fact, labor force participation was far stronger under President Trump. Americans, grappling with the Harris-Biden economic destruction every single day, see right through Democrats’ lies.”
According to Edward Lawrance of Fox Business, there are 115,000 fewer manufacturing jobs and 45,000 fewer construction jobs.
Lower Makefield marketing guru Tim Daly said the Harris-Biden administration doesn’t “care about Americans. Just control of power.”
“What they did placed our country at egregious risk,” said Daly. “Based on the numbers the Fed [Federal Reserve] should have done a rate cut in March. But because they falsified the numbers, the Fed was paralyzed. And because of their lies, we are now facing a recession. Sadly, the voters will never understand the gravity of what they did.”
Wayne businesswoman Leslie Morgan, a serial entrepreneur who invests in commercial real estate, said she’s been concerned about inflation since President Joe Biden took office in January 2021 and signed executive orders ending the Keystone pipeline. Both Daly and Morgan have economics degrees.
While revisions to labor numbers are normal, this one isn’t, she said.
In the last decade, these revisions have been about .1 percent, plus or minus, she said. This revision, “a downward revision of 818,000 jobs, is a negative .5 percent. That’s four times as much on a percentage basis.”
“I have never seen such a high number,” said Morgan. “This is a big deal.”
Morgan, who recently returned from vacationing in the West and Midwest, said people there are already feeling pinched.
“You should see how people are hurting in the drive states,” she said. “Small business owners are shellacked by government regulations.”
And the increase in the price of energy has driven up prices of all sorts of goods, from bread and eggs to gasoline, she noted.
“Oil is the mother’s milk of our economy,” said Morgan. “It goes into every product. And wages are not going up at the same pace as inflation.”
The administration has hurt all Americans, Democrats, Republicans, independents, she said.
“This jobs report is shocking to me,” said Morgan.
However, Morgan believes that if former President Donald Trump is elected, he could right the economy in a few months.
“It’s not rocket science,” she said.
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(c)2024 Delaware Valley Journal, West Chester, Pa. Visit Delaware Valley Journal, West Chester, Pa. at https://delawarevalleyjournal.com/. Distributed by Tribune Content Agency LLC.
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