Despite America’s economic hardships, the Biden administration is trying to sell the message that the economy is doing great.
The mainstream media is echoing White House talking points while ignoring reality.
But while the legacy is pumping up Biden, the numbers are telling a very different story.
January jobs report is inaccurate
The mainstream media has reported that the United States saw a total job gain of 353,000 in January.
However, the real numbers from the Bureau of Labor Statistics disagree, showing that the US lost over 2.6 million jobs last month in reality.
Yet major news outlets continue to report that the small gains only prove “the resilience of the labor market, even in the face of high-interest rates and stubborn inflation.”
While the Department of Labor says 353,000 jobs were added in its monthly payroll report, that’s not actually the case.
But the mainstream news outlets have said the DOL number “easily” tops the initial gain of 180,000 that was forecast by some economists.
Reports also say that the unemployment rate “held steady” at 3.7%, going against expectations.
Fox News interviewed Robert Frick, a corporate economist with Navy Federal Credit Union, who said, “So much for the cooling labor market. The best part of the blockbuster number is how widespread the hiring has become. This shows a growing labor market reflecting a broad-based economic expansion, not just recoveries in a few sectors such as health care and government.”
But those numbers don’t tell the whole story, as layoffs nationwide continue to run rampant.
The media outlet Zero Hedge posted a news story called “Inside the Most Ridiculous Jobs Report in Recent History,” which shows that there is a 10% error rate in the seasonal adjustment for jobs, which wipes out the entire gain the news is reporting.
The Zero Hedge report also showed that this actually resulted in a decline in January, not an increase.
Somehow, the numbers just don’t add up when there is a real loss of over 2.6 million, yet the government and media keep insisting there was a 353,000 gain.
Major US corporations, including heavy hitters like Citigroup, Microsoft, eBay, Wayfair, Bosch, Macy’s, Corning, Xerox, and others all announced that they were laying off at least 1,000 workers in January.
And this is just the tip of the iceberg, as the actual number of layoffs in the United States increased by a whopping 136% from December to January alone, according to a report from Challenger, Gray & Christmas.
Threats of war increase job woes
As the media keeps telling people the jobs market is strong, conflicts continue to heat up all over the globe.
The US hit over 85 targets inside Iraq and Syria last week, employing over 125 precision munitions.
Because of this, Russia called for a special session of the UN Security Council, which should raise alarm bells for every American.
Tensions in the Middle East are rising after US forces struck an anti-ship cruise missile in Yemen.
All of these factors could play into the economy here on American soil, affecting jobs even further and putting the nation into a recession no matter what the mainstream media tries to tell us.
Read All About It will keep you up-to-date on any developments to this ongoing story.