'Jobs Will VANISH Overnight': Trump Says Biden-Harris Admin Caught 'Fraudulently Manipulating' Job Data To Hide 'Economic Ruin'

On Wednesday, the Bureau of Labor Statistics released its annual report that revealed that between April 2023 and March 2024, the federal government overreported nearly a million jobs as a slowing American economy continues to hinder American prosperity. In response to the shocking report, Republican presidential candidate Donald Trump suggested that the Biden-Harris administration had "padded the numbers" to make it seem like the economy was doing better than the actual reality.

"MASSIVE SCANDAL! The Harris-Biden Administration has been caught fraudulently manipulating Job Statistics to hide the true extent of the Economic Ruin they have inflicted upon America. New Data from the Bureau of Labor Statistics shows that the Administration PADDED THE NUMBERS with an extra 818,000 Jobs that DO NOT EXIST, AND NEVER DID. The real Numbers are much worse than that and, if Comrade Kamala gets another four years, millions more Jobs will VANISH overnight, and Inflation will completely destroy our Country. YOUR LIFE SAVINGS WILL BE WIPED OUT. With a TRUMP VICTORY, we will once again have the Greatest Economy in History. MAGA2024!"

The massive job revision is no surprise to economists and investment banks who have been following the monthly reports. However, the revision is worse than expected. Analysts at Wells Fargo expected the job revision to stand at 600,000, while JPMorgan Chase believed that it could see a smaller 360,000 job revision. The Bureau of Labor Statistics has repeatedly downwardly revised their job estimates after their initial report. "There's been a clear pattern of economic data being revised down (worse) in the last several years," Heritage Foundation economist E.J. Antoni explained to the Daily Caller News Foundation. "It is very similar to the onset of the great Recession, when the BLS was struggling to keep up with rapidly deteriorating economic conditions. Assumptions built into models no longer represented reality, although they may have just a year or two prior."

The job market revision comes after a large, one-day stock market downturn occurred earlier this month when the S&P 500 fell three percent, the largest one-day drop since 2002. While the market quickly recovered, there is growing concern among economic analysts that the Federal Reserve has waited too long to lower interest rates after being forced to raise them to get inflation under control. The current interest rate stands between 5.25 percent and 5.50 percent, and a potential rate cut could be on the horizon in September or October, just before the presidential election.

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