SHOCK: WSJ Editorial Board Casts Major Shade on January Jobs Report Showing 467K Jobs Added

The Wall Street Journal Editorial Board threw a big wrench into the media machine celebrating President Joe Biden’s so-called win on the better-than-expected January jobs report.

A February 4th report by the Bureau of Labor Statistics showed that 467,000 new jobs were created in the economy. This is far more than was expected. This news was embraced by the media. CNBC’s headline was: “Payrolls show surprisingly powerful gain of 467,000 in January despite omicron surge.” ABC News salivated: “US economy defies omicron and adds 467,000 jobs in January.” But The Journal had a surprisingly different take, and it was an eye-opener: “Who knows what to make of Friday’s report on January jobs? According to the employer survey, there were 467,000 new net jobs in January. but the numbers were skewed by major Labor Department revisions for the U.S. population and civilian employment.” [Emphasis added.]

This was The Journal’s bombshell conclusion: “Without these changes, the number of jobs would have fallen.” It continued: “Add the complexities of adjusting for winter weather and Covid’s Omicron variant, and no one should make too much of this one monthly report.” [Emphasis added.]

None of the ABC, CBS, or NBC night news programs thought about it, The Journal’s narrative-shattering context was worth mentioning when they touted the jobs numbers on their Feb. 4 evening broadcasts.

The JournalThe Federal Reserve’s Chairman spent many months in 2021 downplaying any threat to inflation.

This news is even more concerning for the Federal Reserve. The central bankers are trying to determine whether or not to increase interest rates by March. It is striking how wide-ranging the wage gains are. Inflation will be more stubborn than optimistics hope.

“The Fed has its work cut out escaping the price predicament it has helped to create,” The Journal quipped. 

Conservatives are being attacked. Conservatives under threat Contact ABC News (818) 460-7477, CBS News (212) 975-3247 and NBC News (212) 664-6192 and demand they report the truth on Biden’s atrocious economic record.