Bloomberg report debunks Biden’s supposed job growth

by ian

A Bloomberg opinion piece is blowing a hole into President Joe Biden’s economics with a newly released report.

Bloomberg Opinion executive editor Robert Burgess posted on X this week that job growth under Biden is way less impressive than what we’ve been told. According to Bloomberg’s analysis, “monthly nonfarm payroll prints likely overstates job growth by 730k last year–with hiring maybe even falling below zero in October.”

When the numbers are adjusted for these distortions, the current job growth is below 100k per month this year. This is well under the 242k jobs reported by official surveys. This means that by the end of this year, true job growth will be likely overstated by at least a million.

Another Bloomberg opinion piece adds that, while not every economic downturn can be attributed solely to Biden, the truth is that “the cost of living grew much heavier under his watch, and many voters will judge him for that.”