Although the media tells us that the economy is booming, the average American is well aware of the truth that the economy is suffering.
“All the way up to the election, they have to convince Americans that they are the only problem,” says Glenn Beck.
The recently released January 2024 jobs report claims an unexpected increase of 353,000 jobs.
Average hourly wages jumped from 4.1 to 4.5, which it claims is the highest since September last year.
“Did people get raises? Is it because of real wages that their hourly wages actually went up?” Glenn asks. “No, it’s a trick. It’s a trap.”
“It actually increased because the Bureau of Labor Statistics decided to reduce the estimated number of hours worked for everyone,” Glenn explains. “They said the hours went from 34.4 hours to his 34.1 hours. This may not sound like a big deal, but it makes it seem like your hours are increasing. Because that one metric has changed.”
“If that metric is true, the last time weekly working hours were this low was when the economy shut down due to the coronavirus,” he continues.
Glenn is also quite skeptical about the number of jobs that will be added.
“Simply put, we have seen a miraculous shift in employment growth from a continuous decline in employment up until December,” he said, adding that the average monthly increase in 2023 is expected to rise from 224,000 to 224,000. He pointed out that the number had been revised to 255,000.
The BLS employment survey shows that employment increased by 353,000 people, but the household survey, which counts the number of employed workers, showed a decrease of 31,000 people.
“If the all-adjusted numbers are true, the number of employed workers would need to increase by 9 million to catch up with the actual employment situation that payroll statements claim,” Glenn explains. .
“So tell me we’re healthier. I don’t think we are,” he added.
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