Joe Biden boasts 303,000 new jobs in March, but they were mostly part-time jobs that went to foreigners. Government jobs also grew at all levels, while manufacturing didn’t. About 71,000 of that increase was in government jobs.
Don’t trust that this won’t be revised downward at some point.
2023 SHOWS JOB GROWTH AT .5% NOT 1.5%
The Bureau of Labor Statistics (BLS) Quarterly Census of Employment and Wages (QCEW) reviews the nation’s job status every three months. From their detailed assessments, it looks like Democrats in government overstated job growth in 2023.
According to the Federal Reserve Bank of Philadelphia, the Biden administration’s employment growth numbers for 2023 seem inflated. There is a caveat. The QCEW, a respected barometer of quarterly growth, is not intended to be an “accurate measure of national employment” since it does not compile a “sum-of-states employment series.”
BLS numbers showed that payrolls increased by 1.5% through last December. However, statisticians with the Federal Bank in Philadelphia disagreed, setting the total growth at only 0.5%.
The Democrat administration cited figures showing December payrolls reaching 157.304 million U.S. jobs. However, QCEW studies set it at 156.504 million, with a difference of about 800,000 positions.
In other words, the 230,000 average job growth the White House advertised was a mere 130,000 on average.
Biden’s not so great after all.
Fox Business noted in March that full-time work is decreasing, and we have zero manufacturing jobs. However, we are building factories.
Government spending with funny money gives us a false picture. Most of the growth in the past two years has come from government, health, and leisure. It does not come from the professional business sector. That’s what socialists want, but eventually, they run out of other people’s money.
Full-time employment is down by a million jobs. Wages seem to be flattening and holding steady.
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