(Data before revision)
The Biden Administration successfully mislead the American people into believing that Bidenomics was a successful endeavor. The administration managed to mislead the people into believing the health of the economy, and president for that matter, were in good condition. New revised data from the Bureau of Labor Statistics (BLS) reveals that the private sector contracted significantly under Joe Biden and Kamala Harris.
The BLS surveys 200,000 out of 600,000 businesses monthly to determine nonfarm payroll estimates. The figure is consistently revised with somewhat minimal deviation from the prediction. Yet, that was not the case under the Biden Administration.
The BLS publishes the Business Employment Dynamics (BED) census as well on a quarterly basis. The sample size is 12 million or 17 times the size of the monthly nonfarm payrolls report. From July 2024 to September 2024, monthly data showed a Q3 increase of 399,000 jobs. The newly revised figure shows that the private sector actually contracted by 1,000 positions. This is more than a mere miscalculation—it is a deliberate LIE intended to mislead the American public ahead of the presidential election.
Now, the BLS also releases a quarterly census report on employment and wages. The BLS determines its annual benchmark by comparing these varying reports and reevaluating its monthly estimates. Every March, the BLS looks at the Current Employment Statistics, or CES, survey, and looks at administrative records of employees covered by Unemployment Insurance (UI). Around 97% of employment falls under the CES scope, and the remaining 3% is analyzed by looking at County Business Patterns or other sources like the Railroad Retirement Board. The March survey determines the “universe” count and adjusts the prior year’s monthly estimates, recalibrating the data to match the universe figure.
How significantly were payrolls recalibrated from last year? From March 2023 to March 2024, the BLS now believes that there was a DECLINE OF 598,000 nonfarm payroll positions.
The BLS reported that the economy grew by 398,000 positions from March to June of 2024 when looking at their monthly reports. The BED analysis actually shows a DECLINE OF 163,000 private sector positions. They were shoving jobs into the public sector to cover the true figure and mask the fact that the economy was in trouble.
Commissioner of the Bureau of Labor Statistics, Erika McEntarfer, was appointed in January 2024 by Joe Biden. There have been numerous scandals under her lead, such as the leak of the April CPI report to private sector economists. The delayed released of the annual nonfarm payroll revision was leaked on social media before the agency’s official publication.
These government reports have long been used as tools of propaganda. They miscalculate everything from payrolls to CPI to mislead the public into believing that their government has a handle on the economy.
