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After Trump pulled the head of the Bureau of Labor Statistics, the other shoe had to fall and the nation had its first taste of what Trump will try to pass economic data.
During a White House event, Trump and Stephen Moore made a dubious presentation where Moore said:
I called the president because I had very good news from a few new data that we have assembled that no one has ever seen before.
And I will quickly go through them. So I told the president that he had done the right thing by calling for a new head of the work statistics office, as it shows that during the last two years of the Biden administration, the BLS overestimated the creation of jobs of 1.5 million jobs.
He is a president. It is a gigantic error.
Trump replied, “It may not have been a mistake. This is the wrong game. It would be a mistake. It would be one thing. I don’t think it was an error. I think they did it for purpose, if you may be right, but even if it was not deliberately. It is incompetence.”
If someone is an incompetence expert, it’s Donald J. Trump.
Moore continued:
All right. Thus, 1.5 million jobs are overestimated. We have access to certain data that no one else does on what happened month by month with median household income. This is based on unpublished data from the census office. It will be released over the next six months, but we will see it.
And so I said to the president during his first five months in power, from January to the end of June. The average median median income of households adjusted for inflation for the average family in America is already up $ 1,174. It’s a key, an incredible number has just been released. I just went out.
How were these figures compiled and what is their context?