Philadelphia Federal Reserve Bank: Biden second-quarter job numbers off by 1 million
The Biden administration vastly overstated its estimate that employers created more than 1 million jobs in the second quarter of this year, claiming historic job growth when in fact hiring had stalled, according to a new estimate.
Job growth was “essentially flat” in the second quarter with only 10,500 jobs added, the
The Philadelphia Fed’s new assessment shows that employment numbers in 29 states and the
The BLS, a division of the
Republican Sen.
“Wrong by a million jobs,”
“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic,”
The
“The economy created more than 1.1 million jobs in the second quarter, or around 375k jobs per month,” the
On Friday, a
The Philadelphia Fed said its job estimates are better because they “incorporate more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages program,” rather than the BLS’ less reliable monthly reporting of data.
Looking at specific states in its region, the Philadelphia Fed said job growth in
In
In the president’s home state of
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