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Sunny Jobs Report Hides The Ugly Truth About Biden’s Economy


Is there more to the monthly Bureau of Labor Statistics jobs report than meets the eye?

Consider: In a Christmas news dump that Americans mostly missed, the Federal Reserve Bank of Philadelphia revised down the BLS’s estimated job growth for the second quarter of 2022 by more than one million. The BLS calculated that 1,121,500 jobs were created over this period, while the Philly Fed found that the economy added just 10,500 jobs. Reuters called this massive labor market discrepancy “a conundrum.” Sen. Rick Scott (R-FL) accused the BLS of cooking the books to boost Biden.

I’m reminded of these divergent analyses with today’s blockbuster BLS jobs report concluding 517,000 jobs were created in January, drubbing the 188,000 expectation. How did the economy create one of its highest numbers of monthly new jobs over the last couple of years at the same time tech companies were shedding tens of thousands of positions, corporations were paring their holiday workforces, and small businesses continued to struggle with historic inflation?

According to a new report by employment firm Challenger, Gray & Christmas, more than 100,000 employees were laid off in January, about four times more than last year’s monthly average. Based on what I’m hearing from small businesses across the country, I wouldn’t be surprised if there’s another enormous downward revision to this jobs growth when viewed in another light.

“If it seems too good to be true, that’s because it is,” said Bloomberg chief economist Annie Wong. “The [jobs day] gain is mostly due to seasonal factors.” Indeed, the BLS uses data revisions in its January report that can spike the monthly numbers, further deflating its impact.

In short, today’s jobs bonanza does not reflect the real economy. That won’t stop President Biden from drawing on it during his State of the Union address on Tuesday to falsely claim American workers are winning under his economy.

What he’ll ignore is how the jobs report also shows workers continue to get poorer under his leadership, as real wages maintain their steady decline. Americans are reminded of their eroding living standards every time they visit the grocery store, where food prices have risen by around one-quarter over the past two years due to the president’s reckless policies.

Watch to see if Biden has the gall during SOTU to lie to the American public that “wages are rising.”

Broader economic data also contradicts Biden’s upcoming sunny SOTU remarks. Credit card debt is at a record high, as Americans are borrowing to cover the cost of inflation. A new report by LendingClub finds around two-thirds of Americans are living paycheck-to-paycheck. JCN’s latest SBIQ monthly poll reveals two-thirds of small business owners worry that economic conditions will force them to close.

“I try to absorb as much [inflation] as I can before having to increase prices, but that can get to a point where it isn’t in your control anymore and you have to make decisions necessary to keep your business going and thriving despite these challenges,” says Katie Lee, owner of Coffee Haven in eastern North Carolina.

Jeanette Georgitis, owner of Salty Sistas Restaurant and Bakery Owner nearby, says prices have risen so high that people now prefer just to eat at home. “If we do not find a way through this soon, we will have no choice but to close.”

First Class Tattoo parlor in New York City tells the Wall Street Journal that it is experiencing record cancelations from customers who can’t afford to pay for this discretionary purchase. “In my 15 years doing this, I’ve never seen people calling up and saying they don’t have the money to spend right now… because their current situation is pretty bad,” says the owner.

Hair stylist Sharon Phillips says her clients have stopped coming in for hair colorings and have pushed their cuts from once a month to every six weeks or longer. “I can honestly say, this is the first time [in more than 30 years] I have been scared about making it.”

This anecdotal evidence from real small business owners about the state of the economy is arguably more powerful than muddy BLS jobs numbers. Just don’t expect this on-the-ground reality to be reflected in Biden’s rosy SOTU rhetoric.

Alfredo Ortiz is president and CEO of Job Creators Network and author of “America’s Real Race Revolutionaries: How Minority Entrepreneurship Can Overcome America’s Racial and Economic Divides.”

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

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  1. As the article indicates it’s pretty hard to believe the jobs report as we read about tens of thousands of tech and big bank workers being laid off. Not to mention that they even lie about the definition of “recession” and take a victory lap if there’s a tenth of a point of a decrease in inflation month over month but never report on the year over year inflation numbers. The inflationary effects of their “Inflation Reduction Act” (actually a “Green New Deal” spending bill) and the “Omnibus Spending Bill” have yet to be felt. Not to mention gas prices are rising again now that Biden’s stopped drawing down our National Reserves. The lies in the “State of the Union” will be unending, but anyone with any brains knows that a recession and worse is coming this year.

    Americans need to wake up before it’s too late and realize that the middle class is being bankrupted by our own government’s never ending money printing (which is the main cause of inflation) and ever increasing taxes and higher and higher energy costs that will result from their idiotic “Green” policies and mandates. It’s worse than just that our Government is failing us. It’s abhorrent and disgusting that they obviously care more about criminals, fringe sexual deviants, Ukrainians and illegal immigrants than their own taxpaying, law abiding citizens.

  2. Sunny? 8+ million NEW illegal alien welfare teat suckers added to the Lack of Friggin Labor Force and the Lack of Friggin Labor Participation Rate in addition to the millions of illegal alien welfare teat suckers already here (minus the one illegal alien employed as a male prostitute by Paul Pelosi, of course) is about as dark, dismal and gloomy as you can get. Compare what scumbag democrats and their synapses-challenged corrupt leader have done to your 401k and IRA balances since Bozo took office and remember it when you vote in 2024.

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