WRECKED: Media Pushed 1M Jobs Expectation, Now Scrambling to Explain Terrible BLS Jobs Report

NewsBusters ^ | 5/7/2021 | Joseph Vazquez

[JV3MRC]

The Bureau of Labor Statistics released a devastating report on job growth in April. It completely destroyed the media hype about the jobs growth under President Joe Biden. Their glowing job predictions were off by at least 734,000 jobs. Perhaps as much as 1,734,000 jobs.

The Bureau of Labor Statistics (BLS) reported that the U.S. economy added an embarrassing 266,000 jobs in April, and the unemployment rate ticked up to 6.1 percent. Fox Business host Charles Payne summed up the atrocious figures perfectly: “Congratulations President Biden - you have achieved the progressive utopia. At least 7.4 million job openings but only 266,000 people got a job last month.” Less than 4 percent of the approximate job openings were filled. The report came after multiple media outlets were heralding an expected April boom to the tune of — checks notes — 1 million jobs added.

But Axios was even further off the mark in a May 3 piece headlined, “A jobs report for the ages.” The outlet arguably gave one of the worst predictions for the April jobs growth:

"While it is not expected to match or exceed June's 4.8 million, some economists believe we could see more than 2 million jobs added, compounding the momentum from March when American employers added 916,000 jobs."

[Diana in Wisconsin]

I wish they had never forced us into SS in the first place. I see RED when I look at how much money I’ve paid in (since age 15!) and what I could’ve done with that, via investments, myself.

Granted, people aren’t as ‘thrifty’ or disciplined as I am, but at least give us the choice, Man! ;)

[Cboldt]

-- I see RED when I look at how much money I've paid in (since age 15!) and what I could've done with that, via investments, myself. --

Yep. It's a boondoggle. I squirrelled away about the same percent (well, technically, the half that comes out of my pay) and it's done about ten times better.

-- ... at least give us the choice, Man! --

Government is about limiting choice. This way the government workers skim off the cream and get fat.

I'm glad I'm old.