Hundreds of Thousands of 2023 Jobs Never Existed

New data released by the Bureau of Labor Statistics (BLS) has significantly revised previous job growth claims made under the Biden-Harris administration, showing that job creation numbers touted in 2023 were considerably overstated.

Anyone surprised Biden’s job numbers were lies?

400K jobs were nonexistent. pic.twitter.com/S8h2wM3f1S

— Spitfire (@DogRightGirl) May 12, 2025

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According to the BLS’s Business Employment Dynamics (BED) report for the third quarter of 2023, the U.S. economy saw a net decline of 1,000 private-sector jobs—contradicting earlier monthly reports that estimated an increase of nearly 400,000 jobs during the same period.

Between July and September 2023, the Biden-Harris administration reported through BLS monthly job estimates that the U.S. economy added 399,000 nonfarm payroll jobs.

However, the BED data, which is derived from a much larger sample of over 12 million businesses, shows there was no such increase.

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In fact, the private sector saw a slight net loss during the third quarter.

Now that Biden is out of office, the real data is coming out about 2024. As we long suspected, the economic data released by Biden’s team was mostly fake.

Instead of adding almost 800,000 jobs during the middle of last year, the economy likely shed more than 160,000 of them. https://t.co/AOk5zA58HH

— Wall Street Mav (@WallStreetMav) May 12, 2025

The discrepancy between monthly job reports and the quarterly BED data is not new, but the scale of revision continues to raise questions.

While the monthly job numbers are based on a rotating sample of roughly 600,000 businesses—of which fewer than 200,000 are surveyed each month—the BED data is more comprehensive, compiled from actual unemployment insurance filings submitted by employers.

Additionally, in early 2025, the BLS conducted its annual benchmarking process, which adjusts monthly job estimates to align them with more accurate data.

For the period from March 2023 through March 2024, the benchmark revision showed that previous job growth figures had been overestimated by 598,000 jobs.

This annual adjustment added to the downward revisions that had already been made to individual monthly reports throughout the year.

In another example, the BLS initially reported that the economy gained 398,000 nonfarm payrolls from March to June 2023.

But according to the BED data for that time period, the economy instead lost 163,000 private-sector jobs.

If these more comprehensive figures hold, it suggests that instead of adding nearly 800,000 jobs during the middle of 2023, the economy may have actually lost more than 160,000 jobs.

The BLS explains that various employment reports track slightly different data. For instance, some reports exclude government jobs, agricultural work, self-employment, and other categories.

However, over time, these different data sources tend to align closely.

The BED and the Quarterly Census of Employment and Wages are widely regarded as more reliable due to their broader scope and reliance on actual payroll records rather than survey-based estimates.

The ongoing revisions cast further doubt on the accuracy of economic performance narratives from the previous administration.

Despite public statements that painted a positive picture of job growth and economic strength throughout 2023, the updated figures tell a different story.

The revisions also come in the wake of the 2024 presidential election, in which President Donald Trump secured a second term by winning the popular vote and sweeping all seven swing states.

Many voters cited economic concerns as a key factor in their decision.

Other indicators also reflected economic strain in 2023, including a rise in consumer debt.

By the end of last year, total U.S. credit card debt had surpassed $1.2 trillion, a record high.

The debt increase was attributed to inflationary pressures and cost-of-living challenges that many households faced.

As the 2025 benchmark adjustments continue to roll in, further revisions may follow.

The BLS is expected to release updated figures in the coming months as additional datasets are analyzed.

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