As reported at the WSJ, the U.S. added 911,000 fewer jobs over the 12 months that ended in March according to the BLS.
Did the Biden administration tell us the truth about anything? Between the lies that the Southern border was secure, that inflation was transitory, or who was using the Autopen, now we learn that the economy handed off to President Trump was much weaker than first reported.
The pace of job growth was likely significantly weaker than reported from early 2024 through early this year, the Labor Department’s Bureau of Labor Statistics said Tuesday.
The U.S. added 911,000 fewer jobs over the 12 months that ended in March, the BLS said, trimming by a bit more than half the 1.79 million jobs the official data now show. If that holds, it would bring the average pace of seasonally adjusted employment gains from 147,000 jobs a month over the period to a bit over 70,000.
“The benchmark revisions make clear the economy President Trump inherited was even weaker than we thought,” the White House said in a statement. The White House also said the revisions showed “this is exactly why we need new leadership to restore trust and confidence in the BLS’s data on behalf of the financial markets, businesses, policymakers, and families that rely on this data to make major decisions.”