Staff Reports
Bidenomics, touted as a miraculous solution for the struggling American worker, has run into a brick wall of reality, revealing an astonishing 818,000 jobs that mysteriously disappeared from the U.S. Labor Department’s job growth numbers. This massive revision is about as impressive as a three-legged dog in a race—it’s not only late to the party but also brings no value whatsoever to the discussion. Vice President Kamala Harris may be hitting the campaign trail with claims of unparalleled job growth, but with numbers like these, her case is about as convincing as a used car salesman promising no hidden fees.
BREAKING: 818,000 jobs that the Biden-Harris admin claims to have created have just been wiped off the books.
This is the largest downward revision in jobs in 15 years!!
All job growth has gone to illegals and immigrants. Trump was right once again. pic.twitter.com/flEZxHNqgb
— Charlie Kirk (@charliekirk11) August 21, 2024
The revision is part of a concerning trend where the Biden administration dishes out optimistic job figures, only to backtrack later. Think of it as a government version of “wishful thinking”—a delightful notion until accountability bites back. This latest adjustment represents the most significant downward revision in 15 years, reminiscent of the time after the Great Recession. Remember that? It’s not exactly a golden era for job growth, and putting a positive spin on it doesn’t change the numbers.
Heritage Foundation economist E.J. Antoni hits the nail on the head in pointing out that unemployment claims remain static despite Harris’s claims of mobilizing American workers. The numbers reveal the truth behind the curtain: a mere 178,000 jobs were actually created each month over the past year, a far cry from the previously reported 246,000. Even Wall Street was caught off guard—though anyone paying attention should have seen the iceberg looming ahead. As a further twist of the knife, it will be February before the Labor Department provides an official update on these scandalous figures.
Layoffs, layoffs, everywhere, but not a claim to file?
At this point, there's no good explanation left for what's going on w/ UI claims, either initial or continuing; not only is nothing matching up anymore, but the rock-solid steadiness of these levels makes even less sense: pic.twitter.com/6OVVVPskSs— E.J. Antoni, Ph.D. (@RealEJAntoni) May 2, 2024
On the campaign trail, Harris has not shied away from attempting to compare the job creation efforts of the Biden-Harris administration to those during President Trump’s tenure. This comes with a hefty asterisk, of course, since her administration has been buoyed by the aftermath of a pandemic, where around 12 million jobs were lost but a significant number were recovered shortly thereafter. Interestingly, Trump’s time in office saw job openings hit an all-time high, leaving many to wonder: what kind of fairytale world does Bidenomics inhabit if it can’t match that achievement?
Meanwhile, traders are sitting on the edge of their seats waiting for the Federal Reserve’s next move on interest rates. Democrats, led by the ever-vocal Sen. Elizabeth Warren, are clamoring for rate cuts, while Trump scoffs at the idea, suggesting that such a move would simply be a financial boost for Harris’s campaign coffers. It seems the economic landscape is a tinderbox, and with the latest jobs numbers waving a giant flag marked “problems ahead,” the Federal Reserve’s decisions will be more consequential than ever. The yield on the 10-year Treasury is already rising, a clear indication that even the markets are growing increasingly wary under Biden’s economic stewardship.
