Joe Biden made remarks about the August jobs report in the White House Rose Garden on Friday.
It was a bad report in a couple of major ways, and it had some of the economic talking heads concerned.
Unemployment went up in a big way, spiking up to 3.8, higher than expected. There were about 5.85 million people out of work in July, and now, there are 6.37 million people out of work.
On top of that, the prior month had some major revisions, so it wasn’t as much as has been claimed by the Biden Bureau of Labor Statistics. That’s been the case for the past few months, raising the questions now about the accuracy of the BLS. Have they been compromised, just like everything else Biden touches?
CNBC reports on major downward revisions in the jobs report:
“The last two months are seeing a revision of three digits – minus 110,000 [jobs].” pic.twitter.com/oq4ZO3JRYs
— RNC Research (@RNCResearch) September 1, 2023
“The last two months are seeing a revision of three digits – minus 110,000 [jobs].” CNBC’s Rick Santelli said.
CNBC’s Rick Santelli on the jobs report: “The deterioration is large. The significantly large revisions make me nervous….how much we’ve slowed over the last several plus months.” pic.twitter.com/FT5t2LnOXD
— RNC Research (@RNCResearch) September 1, 2023
“The deterioration is large. The significantly large revisions make me nervous,” Santelli said with a worried tone, saying he was concerned about “how much we’ve slowed over the last several-plus months.”
But Biden’s response was comical and bizarre. He bragged about unemployment being under 14 percent.
Biden brags about keeping unemployment below 14%. pic.twitter.com/J5uwbBoDU2
— Townhall.com (@townhallcom) September 1, 2023
He didn’t even seem to understand what he was saying, in thinking that being under 14 percent was “good” when it’s horrific. I think that was an attempt to deflect from the news, acting like it wasn’t bad that it went up.
So, for example, in June, we’re told 209,000 jobs were added.
Yesterday, we learned 209,000 jobs were created last month for a total of 13.2 million jobs created since @POTUS took office. We’ve regained all the jobs lost during the pandemic, and created nearly 4 million more. pic.twitter.com/dIHmCIqBI6
— Karine Jean-Pierre (@PressSec) July 8, 2023
Then the next month, that was revised down to 185,000 and now, revised down again to 105,000.
That’s what Santelli is talking about.
Here are the revisions in 2023 — so far.
JOBS NUMBERS REVISIONS FOR 2023 SO FAR pic.twitter.com/Lqxi5bpYDf
— Andrew @ Don’t Walk, RUN! (@DontWalkRUN) September 1, 2023
So, you can’t trust what they are saying even in this regard, because it looks like they keep manipulating the numbers.
Biden also told some whoppers, including that we have the “strongest economy in the world” and the “lowest inflation rate” among the major economies.
If Americans are living paycheck to paycheck and you’re crushing them with Bidenflation, how can you call that strong? As economist Stephen Moore notes here, people are $5,000 poorer because of Joe Biden because inflation for most of Biden’s time has outstripped wage growth.
Economist Steve Moore: “For 22 of the last 24 months, wages [have been] behind the rate of inflation … the average family today is about $5,000 poorer today than they were when Joe Biden came into office.” pic.twitter.com/1IghmgUBaK
— RNC Research (@RNCResearch) September 1, 2023
Plus, Biden wasn’t telling the truth, as our friend Spencer Brown at Townhall observed about the “lowest inflation rate” — even though Politifact has fact-checked him and said Denmark, Greece, Portugal, South Korea, Spain, and Switzerland all have lower inflation.
Sixty-one percent of Americans say they are living paycheck to paycheck, yet when Biden was asked about it, the Empathy Guy just blew off the question. He also blew off the question about why he had so many interactions with this son’s business partners after he’d claimed he never spoke to his son about business. Biden just walked off.
“Why are so many Americans living paycheck to paycheck?!”
“Why did you interact with so many of your son’s foreign business partners?!”
BIDEN: *walks away* pic.twitter.com/e9KBoEyqQR
— Townhall.com (@townhallcom) September 1, 2023
So much for Bidenomics working, you can see how we’re heading for a real skid. The economy is slowing precipitously, but they’re trying to gaslight us on that fact. If we’re not already in a recession, we may be heading to one in short order. But trust Biden, he’ll just deny the reality when it hits as he did when inflation hit and they claimed it was “transitory” in September 2021.
