In what could be a scene from a mystery novel, a staggering number of 911,000 jobs have inexplicably vanished. Throughout 2024, we constantly expressed our concerns about a largely unnoticed decline in the US economic climate. However, the optimists among us cited government-issued employment data as a sign that the scenario was not as dire as we suspected. Now, it is clear that our skepticism was warranted as the so-called ‘reliable’ numbers turn out to be pure figments of fabrication. Regrettably, we were duped by manipulated data, leading many to believe a lie that is now clear as day.
In a shocking revelation on a Tuesday, the figures boffins at the Bureau of Labor Statistics (BLS) unapologetically announced that 911,000 jobs reportedly ‘created’ during the year ending March 2025 never materially occurred. According to the revised report, the US economy added fewer jobs in 2024 and early 2025 than had been previously reported. This suggests that the labor market was significantly weaker than what initial estimation indicated. Mind you, the astonishing figure of 911,000 job deficit far exceeded the dark projections of even the gloomiest economists.
This series of inaccurate forecasting is nothing less than an ignominious scandal. Whether it was due to gross incompetence or deliberate manipulation is certainly up for debate. Month after month, throughout the Biden administration, there was a deceptive panorama of wholesome employment numbers. Unfortunately for everyone, these fabricated numbers painted a completely false image.
As Zero Hedge accurately brought to light, approximately 2 million jobs that were supposed to have been created during the last three years of Biden’s reign, were shockingly ‘written-off.’ All this time, the country has been practically drowned in an ocean of unmanageable debt. It’s decidedly ironic that Kamala Harris campaigned for presidency touting a robust job creation anecdote. This so-called success story turned out to be an utter sham.
Emphasizing the scale of the debacle, the White House cited the revised jobs data to deride Bureau of Labor Statistics, Joe Biden, and Jerome Powell – commonly criticized during Trump’s time in office. According to the statement, the BLS’s largest downward revision on record unequivocally validated Trump’s assertion that Biden’s economy was a catastrophe, and that the BLS was fundamentally flawed.
This isn’t just a matter of statistical adjustments, but one with reverberating real-world implications due to its potential influence on the election outcomes. The fabricated numbers presented a misleading picture of our economic performance, which might have swayed voters. The Federal Reserve might have implemented rate cuts much sooner, considering a more realistic employment scenario.
With every passing day, we hear reports of more highly reputed companies cutting jobs. Case in point is Salesforce, which has culled 4,000 customer support positions and decided to replace them with AI agents. Moreover, the manufacturing sector in the US continues to haemorrhage jobs at a distressing rate each month.
The situation was mirrored in industries such as manufacturing, where employers eliminated 12,000 jobs in August alone, leading to a reduction of 42,000 since April. This stark reality is based on a new analysis using government labor data. Furthermore, the zeal to shut down local branches by major banks is manifesting with an alarming regularity. As a matter of fact, we witnessed the closure of 74 more branches within a short span of just six weeks.
Institutions like US Bank, Chase, and PNC are not shuttering these local branches under the delusion of an economic recovery. A stark realization of reality is needed here. Previously noted optimist, JPMorgan Chase CEO Jamie Dimon, has now joined the chorus forecasting a ‘weakening economy’.
In the past, there may have been skeptics questioning the notion that government economic data could be unrealistically optimistic. Now however, this skepticism has been justified. The truth behind the facade presented during the Biden administration is painfully apparent. With the nation’s coffers depleting, trillions of unaffordable dollars were squandered, all the while our economy continued a downward spiral.
Looking ahead, the future seems daunting. It appears society is teetering precariously on the edge of an abyss, with most people still unaware of the gravity of the situation. Our debt increases exponentially with no feasible escape in sight, and systemic failure is evident everywhere.
Those with foresight have tirelessly lamented our leaders’ questionable decisions for years. The day has arrived when we must face the consequences of their ineptitude. The impact of these decisions has finally accelerated to catch up with us, and the daunting task of dealing with it now rests on our shoulders.
The post Ridiculous! Biden’s Imaginary Job Boom Backfires as 911,000 Jobs Vanish appeared first on Real News Now.
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