January Jobs Report: 2024 Employment Revised Down by 600,000
Remember to *always* take BLS reports with a grain of salt. Always.
The January jobs report came out today!
Let me show you the most important stat: Revisions to total employment in 2024 went down by 600,000.
This is why I do not trust these reports. The Bureau of Labor Statistics (BLS) blew up the reports (when it could) during former President Joe Biden’s administration because it knew people wouldn’t look at the revisions.
BLS always buries the revisions in the report.
There it is: 600K lower across all of 2024, and even more downward revisions coming next February https://t.co/89jIaaWj4l pic.twitter.com/b2irvG9aBi
— zerohedge (@zerohedge) February 7, 2025
All months in '24 were revised down in today's jobs report, w/ the average revision being -626k; what's even crazier is the business employment dynamics data from BLS and early benchmark from PHL Fed point to even worse downward revisions in the next annual benchmark: pic.twitter.com/AeLd9lH4cJ
— E.J. Antoni, Ph.D. (@RealEJAntoni) February 7, 2025
Man, do you remember what came out in August 2024?
Yeah, the BLS revised the job number down by over 800,000 between April 2023 and March 2024.
The Biden-Harris administration was just forced to admit that they overstated job creation by 818,000 jobs in one year.
Not 818 jobs. Not 8,180. Not 80,180.
EIGHT HUNDRED THOUSAND. pic.twitter.com/KJv6PM7K0J
— End Wokeness (@EndWokeness) August 21, 2024
I also see Democrats use the weak January jobs report against President Joe Biden.
Um, derp! Thanks for showing us you didn’t actually read the report because it stopped on January 12…when Biden was still in office.
Also, a sane person knows a jobs report is about the previous month.
These people drive me insane.
Darren isn't too bright.
I will try and use small words so he can understand.
The jobs report is as of Jan 12. That is when Biden was president. Donald Trump became President on January 20.
BLS: "The survey reference period is the pay period including the 12th of the month" https://t.co/aneax8LItm
— Alex Pfeiffer (@Pfeiffer47) February 7, 2025
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Comments
“I also see Democrats use the weak January jobs report against President Joe Biden.
Um, derp! Thanks for showing us you didn’t actually read the report because it stopped on January 12…when Biden was still in office.”
I think you have a typo, and mean ” against President Trump“
The numbers are very bad under the hood of the monthly headline. This isn’t restricted to the political theater either. The Fed uses this data to for rate policy and even they began to go public in early Summer about the ‘quality’ of the BLS data.
Labor groups sue to block DOGE from accessing key economic data
The plaintiffs include the AFL-CIO, American Federation of Government Employees, Service Employees International Union and the progressive Economic Policy Institute.
- “Absent this Court’s intervention, DOGE will have access to highly sensitive data,” the court filing says. [ They really don’t want anybody else to know the truth of it ]
- The plaintiffs specifically cite the prospect of DOGE teams accessing BLS data, which is some of the most closely watched and market-sensitive macroeconomic information in the world. [ that has been completely bogus for the last 4 years ]
- “A DOGE takeover of the type seen at other agencies could overturn over a century of the BLS’s independence and turn it from a reliable source of data across the economy into a far less valuable political mouthpiece,” the plaintiffs write. [ I can’t stop laughing ]
Every single month in 2024 just got revised down in today’s jobs report
DOH-GEE! DOH-GEE! DOH-GEE!
Upcoming employment reports will show massive loss of government jobs, and huge taxpayer savings from canning all those losers.
The revision to the full-time employed numbers was interesting. Over 2 million added in a poof! We went from being down 1.2 million from the June 2023 peak last month, to being up 1.1 million from the previous peak this month. A revision of 2,386,000 more full-time jobs.
https://fred.stlouisfed.org/series/LNS12500000
“The Biden-Harris administration was just forced to admit that they overstated job creation by 818,000 jobs in one year.”
But they compensated for it by adding 3-5 million unemployed illegal aliens to the labor pool.
That’s Democrat (certified NON rayciss) math!
Even worse. The BLS data in fact show that from July ’18 the number of foreign born workers has increased by 4.6 million while the number of native born workers has declined by 700K. The new data also revealed another record in the total number of foreign born workers at just under 32 million.
IOW for the entirety of the Biden Admin (to be fair + the last years of Trump) ZERO NET jobs were created for native born workers, in fact it was a net LOSS of 700K jobs for the native born.
The loss of jobs for the native born under the Biden administration versus pre-Pandemic is the key data point and has been known for a while. It explains why all the polls had Americans not happy with the economy, while Biden merrily talked about all the jobs he created.
The BLS department appears to have one “L” too many in its acronym. If you took 600K off every single original monthly estimate shown above, they would have looked like geniuses. It looks like every month was intentionally padded the same.
To be fair the native born were losing ground in the summer of ’18 till now. Very true that the ratio of foreign born to native born definitely accelerated in the Biden admin.
Those of us who’ve been paying attention to BLS data shenanigans and the media cheerleading the BS MoM # that’s aways + only to be revised way lower have been waiting on this moment. Expect more carnage as we go forward. Frankly they kept up the charade longer than I thought they would be able but now that Biden is gone no reason to hide the bad news and of course the d/prog and media allies will try to pin the bad # on Trump. Already are in fact despite the cut off date in this report occurring prior to inauguration.
The purpose of the swamp is to take power and secretly run things. To do so they must hide anything that is not kosher—especially from the president when the president’s a Republican.
The purpose of DOGE is to provide the president with an independent assessment of a department’s records, processes, and procedures to determine if they are presented fairly and accurately. How else can he make decisions and run his administration if he doesn’t know what is going on?
Therefore, the swamp will do everything in their power resist the president and maintain control.
What we are seeing now is the swamp coming head to head with a legitimately elected president.
The Kool-Aid crowd not only didn’t question the numbers but will never know about the revision.
These people need to be deposed. This nonsense, always favoring the Democrats has gone on for 40 years.
Let’s just be honest. Serious investors stopped believing the lies long ago.