Nearly two weeks ago the Philadelphia Federal Reserve wrote that the Biden administration had overstated US job growth by at least 1.1 million - directly implying that the Bureau of Labor Statistics (BLS) had fabricated US payroll data to provide political talking points. The BLS had previously reported that the US economy added approximately 1,047,000 new jobs in Q2, 2022 - a figure the Biden administration used extensively to suggest they were successfully navigating the economic crisis. The Philly Fed's revision, however, indicated that the actual number of jobs added was more like 10,500. The report also ... (full story)