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Numerous surveys conducted before and after the 2024 presidential election show that one of the top concerns of voters is the state of the economy. This was especially the case among voters who voted for Donald Trump.
This phenomenon has puzzled countless supporters of the Biden-Harris administration. which has insisted for many years that the United States Blessed with a booming economy under Joe Biden’s leadership.
To prove The White House and an endless number of left-wing political pundits frequently point to employment and unemployment figures as proof of the Biden-Harris administration’s economic success.
President Biden and Vice President Kamala Harris came to talk about the administration’s efforts to reduce costs at Prince George’s Community College. In Largo, Maryland on August 1, 15 Nov 2024. (AP Photo/Susan Walsh)
But voters instinctively know better. No amount of headlines in The New York Times or rants on cable news can convince them that America’s economy is strong.
Bid on forgetting about letting Trump have an economy facing disaster.
Trump voters now have the numbers to back up their doubts.
A new report by the Federal Reserve Bank of Philadelphia shows that the Biden-Harris administration’s Bureau of Labor Statistics (BLS) is overestimating employment in 25 states across the country in the second quarter of 2024. The report found that BLS’s initial employment numbers were too high in only two states. (Second quarter 2024 is the most recent period for which the Federal Reserve Bank of Philadelphia has updated data.)
According to the Philadelphia Fed, expanded and updated data reveals state payroll employment in the second quarter. refuse 0.1 percent indicates a net job loss during that period. Compared to one year ago
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Preliminary employment data released by the White House indicated earlier this year that more in the amount of state employment during the same period That’s according to the Biden-Harris administration’s original figures. The total of state employment figures shows a 1.8% national increase in employment. The national survey data increased 1.1%.
Philadelphia Fed researchers believe both of these numbers are wildly wrong.
The Philadelphia Fed believes the Biden-Harris administration’s previously reported employment numbers were down 1.2 to 1.9 percentage points, depending on the survey data used. That may seem trivial. But when applied to employment figures for all 50 states, we’re talking about an overestimation of national employment by as many as 3 million jobs.
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Even if it proves incredibly difficult. But there is reason to suspect that the White House might manipulate the employment survey to make the economy appear to be in better shape.
The biggest reason to believe that the White House may have intentionally misled Americans is that previous employment numbers were rarely revised to the extent that the second quarter 2024 numbers would need to be adjusted. According to other reports of the Philadelphia Fed
For example, the Philadelphia Fed estimates the state’s preliminary employment data for the second quarter of 2023 differs by just 0.1 percentage points from more accurate data reported later in the year.
In fact, I haven’t found a similarly flawed example in any of the Philadelphia Fed’s other 2024 or 2023 reports on state employment data. State employment figures reported by the Biden-Harris administration for the second quarter of 2024 appear to be down more than any quarter in both years.
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However, I discovered similar overestimations of employment in some 2022 reports. I’m sure it’s just a coincidence that 2022 is yet another important election year.
It’s worth noting that the 2022 report shows a large discrepancy between the state’s preliminary employment figures and later, more accurate reporting. More accurate figures reveal employment is much lower than previously thought. As I said before. This was the case in the latest report published by the Philadelphia Fed for the second quarter of 2024.
In other words in the past three years When the Biden-Harris administration significantly revised state employment numbers, These numbers are often adjusted lower.
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Could it be a coincidence that these mistakes often benefit the White House? Or is it possible that the Biden-Harris administration is deliberately tricking people into thinking that employment is much higher than it really is?
Only time and a congressional investigation will tell.
Click here to read more from Justin Haskins.
