U.S. Secretary of Commerce Gina Raimondo has come under fire after admitting that she was not "familiar" with the major downward revision of jobs created in the past year, sparking concerns about the Biden administration's handling of the economy.
In a stunning revelation that has cast doubt on the reliability of the government's economic data, U.S. Secretary of Commerce Gina Raimondo has admitted to being unaware of a major downward revision in the number of jobs created over the past year. The admission came during an interview with ABC News on Wednesday, when Raimondo was asked about the Bureau of Labor Statistics' (BLS) report that revised the number of jobs added since Biden took office down by more than 800,000.
Raimondo's response, in which she dismissed the revision as "misinformation" spread by former President Trump, has sparked outrage among economists, business leaders, and ordinary Americans. Critics have accused the Biden administration of trying to downplay the significance of the revision and of being out of touch with the economic realities facing the country.
Commerce Secretary Raimondo Unaware of Major Jobs Number Revision, Draws Criticism
"This is absolutely shocking," said former Trump administration economic advisor Larry Kudlow. "The Secretary of Commerce is supposed to be one of the key economic policymakers in the government. The fact that she is not familiar with this major revision in the jobs numbers is a serious cause for concern."
The downward revision in the jobs numbers comes at a time when the Biden administration is facing increasing pressure over its handling of the economy. Inflation has soared to a 40-year high, and consumer confidence has plummeted. The administration has been criticized for its massive spending programs and its failure to address the supply chain crisis.
Commerce Secretary Raimondo Unaware of Major Jobs Number Revision, Draws Criticism
The revision in the jobs numbers has also raised questions about the accuracy of other government economic data. If the BLS can make such a large error in its jobs report, what other data could be unreliable?
"This is a major blow to the credibility of the BLS," said economist and former BLS official John Williams. "The BLS is supposed to be the gold standard for economic data. If people can't trust the BLS, then who can they trust?"
Commerce Secretary Raimondo Unaware of Major Jobs Number Revision, Draws Criticism
The Biden administration has defended the BLS revision, saying that it is simply a correction of an error. However, critics say that the revision is a sign of a larger problem with the way the government collects and reports economic data.
"This is not just a simple error," said Republican Senator Rick Scott. "This is a systematic problem with the way the Biden administration is managing the economy. They are cooking the books to make it look like the economy is better than it really is."
The revision in the jobs numbers is likely to become a major issue in the upcoming midterm elections. Republicans are already using it to attack the Biden administration's economic policies. Democrats are likely to defend the administration, but the revision will make it harder for them to make the case that the economy is doing well.
The revision in the jobs numbers is a serious blow to the Biden administration. It is a sign of increasing economic turmoil and a lack of confidence in the government's ability to manage the economy. The midterm elections are likely to be a referendum on the Biden administration's economic policies, and the revision in the jobs numbers will make it much harder for Democrats to keep control of Congress.
