“That’s A Huge Drop!”: CNBC Is Shocked By Jobs Report Revision, 149k Jobs Lost (Video)

The Biden Administration has been touting their employment record over the last few months. Just today Biden’s Twitter account claimed that there were 253,000 jobs created in April. See that tweet below…

We just learned we created 253,000 jobs in April.

That's 12.7 million jobs since I took office, an unemployment rate that is the lowest since 1969, and the highest share of working age people in the workforce since 2008.

My plan to invest in America is working.

— President Biden (@POTUS) May 5, 2023

What the Biden Administration will never tell you is that these employment figures almost always have revisions. Revisions that shred their ‘progress’ months after they falsely portray it.

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CNBC covered these revisions in a recently aired segment. One host was shocked by what he saw, exclaiming ‘That’s A HUGE Drop!” See that moment below…

CNBC: "We lost 150,000 jobs on revisions … That's a huge drop.” pic.twitter.com/uWr9CyHa54

— RNC Research (@RNCResearch) May 5, 2023

US News reports on these revisions…

Employers added 253,000 jobs in April, defying expectations amid a slowing economy. But the strong gains of March and February were revised down significantly, the Labor Department reported on Friday.

Economists had expected an increase of around 180,000 after March’s 236,000 gain – now revised to 165,000. February’s gain is now 248,000 instead of the 326,000 original estimate. Combined, the two months were revised down by 149,000 jobs.

https://www.usnews.com/news/economy/articles/2023-05-05/253k-jobs-added-in-april-above-expectations-but-revisions-cut-gains-earlier-in-the-year

The Biden Administration gets to brag about numbers that will be cut in half with revisions that will be buried deep in the news cycle. A total deception in every sense of the word.

As hosts pointed out on Fox Business, these revisions change the entire outlook of the economy. See a clip of Fox Business speaking about these numbers below…

Fox Business: “You’ve got some revisions here that show a much slower jobs market than we thought.” pic.twitter.com/B1owvhGnRA

— RNC Research (@RNCResearch) May 5, 2023