The Biden Admin Overestimated Recent Job Growth by over 10,000 Percent: Report

The Bureau of Labor Statistics overestimated the number of jobs added nationwide from March through June by roughly 10,600%, the Federal Reserve Bank of Philadelphia reported Tuesday.

The U.S. added just 10,500 net new jobs in the second quarter of 2022, a far cry from the 1,121,500 estimated by the Bureau of Labor Statistics’ (BLS) monthly report on state-level data known as the Current Employment Situation (CES), according to the Philadelphia Fed. By using more comprehensive data from the BLS Quarterly Census of Employment and Wages (QCEW), which samples roughly 11 million businesses compared to the 670,000 measured by the monthly CES, the Philadelphia Fed is able to make revisions to initial employment estimates, the regional bank reported.

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Commentary: Even Corporate Media Is Calling Out Biden’s Absurd Economic Fairytales

With only days left until the midterm elections, the advertising blitz from the political spin doctors has reached a fever pitch and the sound bites we’re hearing aren’t very sound, especially the ones from the White House on the economy. But heated rhetoric is hardly a replacement for facts and figures so, to borrow a phrase from the show Dragnet, let’s discuss “just the facts, ma’am.”

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Commentary: Economically Free States Are Recovering from the COVID-19 Pandemic More Rapidly Than High Control States

The fact that our nation’s unemployment rate is approaching the low rate of 3.5% that was reached just prior to the pandemic should be a cause for celebration. But for a variety of reasons, the official unemployment number is misleading.

The employment situation is not as rosy as it may seem. There is a wide disparity among the states that can be explained by how much economic freedom they allow, including how severely each state shut down its economy due to the COVID-19 pandemic.

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U.S. Added 678K Jobs in February, While Unemployment Decreased Slightly

The U.S. economy added 678,000 jobs in February, according to a Friday report from the U.S. Bureau of Labor and Statistics (BLS), beating economists’ expectations.

Total nonfarm payroll employment increased by 678,000 in February, according to the BLS report, while the unemployment rate dropped to 3.8%, a pandemic low. Job gains were most pronounced in the leisure and hospitality sectors, which added a total 179,000 jobs.

“The labor market continues to be quite hot,” Nick Bunker, an economist at Indeed, told The Wall Street Journal. “It looks like the labor market is still primed for lots of strong employment growth.”

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Connecticut Slow in Job Growth, Won’t Reach Pre-Pandemic Levels Until 2023

Although Connecticut will add 60,000 jobs this year, the state won’t be back to pre-pandemic levels of employment until 2023, industry groups say.

“The inability to grow jobs at the national average or even at the top of the Northeast means that Connecticut’s economy is going to continue to grow slower than the rest of the country and the Northeast,” Chris DiPentima, president and CEO of the Connecticut Business and Industry Association, told The Center Square. “The slow job growth means that businesses are not meeting the customer demand that they have. Connecticut, in turn, is not realizing the state’s total economic growth potential. Most businesses are hopeful that the state will put some policies in place to fuel growth and the jobs added each month will increase. This will help recover the jobs that we’ve lost before the end of this year.”

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U.S. Economy Added 194,000 Jobs in September, Badly Missing Expectations

Person using a laptop, pointing to the screen

The U.S. economy reported an increase of 194,000 jobs in September, and the unemployment rate fell to 4.8%, according to Department of Labor statistics.

The number of unemployed people fell by 710,000 to 7.7  million, according to the Department of Labor statistics released Friday.   Economists projected that employers created 500,000f jobs in September, more than double the figure in August, according to the Wall Street Journal.

Despite the spike in employment, the labor market remains thin due to the pandemic, and job growth earlier in the year was considerably stronger, according to the WSJ.

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Just 14 States Had Positive Job Growth in May

Just 14 states saw positive employment growth between April and May while the majority of the growth was concentrated in a handful of states, according to the Department of Labor.

Fourteen states led by California, Florida and Texas experienced significant job growth, 35 states experienced stagnant job growth and Wyoming saw a decline in employment last month, according to a Department of Labor report released Wednesday. Overall, the unemployment rates in 21 states decreased between April and May while every state’s employment improved compared to May 2020.

While the U.S. continues to report increased job growth, the report showed that the vast majority of the growth has come from about a dozen states.

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Red States Top Those with Lowest Unemployment Rates

"Come in, we're hiring!"

Republican-led states and Vermont reported the lowest unemployment rates in April, according to a new report by the U.S. Commerce Department. States led by Democratic governors recorded the highest jobless rates, according to the report.

Unemployment rates were lower in April in 12 states and the District of Columbia and stable in 38 states, according to the U.S. Bureau of Labor Statistics.

States with the highest unemployment rates in April were Hawaii (8.5%), California (8.3%), New Mexico and New York (both at 8.2%), and Connecticut (8.1%). All five states with the highest unemployment are run by Democratic trifectas, meaning Democrats control the governor’s office and both houses of the state legislature.

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National Unemployment Steady, Ohio Unemployment Ticks Up: Experts Weigh in on Ohio’s Economy

  Nationally the unemployment figures remained steady at 3.7%, but Ohio’s figure edged up a tenth of percent to 4.1. Several economic analysts have weighed in over the last few days to discuss the overall state of Ohio’s economy compared with the nation’s. Opportunity Ohio found, “Latest @BLS_gov job figures…

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The Most People in Nearly 20 Years Quit Their Jobs for Better Ones in 2018

by Tim Pearce   Roughly 2.4 percent of the Americans in the workforce quit their jobs in the past year, the fastest rate since 2001, according to the Bureau of Labor Statistics (BLS). The BLS’s most recent version of the Job Openings and Labor Turnover Survey (JOLTS) found that an…

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Rising Wages, Job Growth Cited as Reasons to Expect Brisk Holiday Retail Sales in Ohio

Ohio shoppers are expected to increase holiday spending by 3.2 percent more than last year, as consumer confidence continues to soar, according to a forecast by University of Cincinnati economists. Jobs, wages, housing prices and other key indicators are all on the uptick, forecasters said. They project retail spending to…

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Ohio Republicans Cheer ‘Great News’ of 250,000 New Jobs in October

Ohio Republicans are celebrating an October jobs report that could not have come at a better time for the GOP’s state and federal candidates. The Bureau of Labor Statistics reported Friday, just four days before the midterms, that U.S. businesses created 250,000 new jobs last month, which is 50,000 to 60,000…

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Ohio Shows Biggest Year-Over-Year Jobs Increase in Two Decades

If the old adage remains true that Americans vote according to pocketbook issues and that, as an aide to former President Bill Clinton once said, it’s “the economy, stupid” that gets voters’ attention, then Ohio should experience another red wave in the Nov. 6 midterm elections. Ohio and Pennsylvania –…

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