Ignore the May jobs report‘s topline establishment survey number and the media’s celebratory reporting. It’s not to be trusted.
A new analysis by the Daily Caller News Foundation shows that payrolls were overstated by 1.3 million last year after accounting for the constant downward revisions. A new Bloomberg Economics report finds monthly job gains were overstated by 730,000 last year. Bloomberg says a surge of business closures is to blame.
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Corporate media on Tuesday defended President Joe Biden’s lucidity after a transcript of his interview with special counsel Robert Hur was released, showing memory lapses.
Hur issued his report in February on Biden’s handling of classified documents, deciding not to pursue charges against the president and noting several memory lapses. The transcript released on Tuesday backed up the existence of these lapses, but several corporate media outlets attempted to make them seem less significant, reporting on the vast detail Biden went into on certain topics.
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Numerous legacy media outlets are struggling with challenges posed by President Joe Biden’s economy and resorting to drastic measures, Axios reported on Friday.
Close to a dozen of these outlets are firing workers, dealing with employee strikes or looking to sell, according to Axios. The Federal Reserve’s imposition of high interest rates to bring down inflation is hindering their ability to accumulate more debt, complicating their efforts to extend the timeline for resolving their financial difficulties.
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