Axios Admits Economic Forecasts Predicting Anemic Job Gains Were Way Off


After months of being told the economy was a long way off from recovery, the recent data in job gains for the month of October caused Axios to rethink some of those gloom-and-doom predictions.

Of course, now with the liberal media declaring the election over, it would make sense for them to concede just how formidable President Donald Trump’s economy really was.

As Axios tells it, “This week America witnessed a forecasting failure of almost unprecedented magnitude.” The outlet continued: “October’s unemployment rate came in at 6.9%, after dozens of the best-paid and most experienced economic forecasters in the world had predicted the number would come in at 7.7%.”

The forecasters “had literally millions of data points of information to go on, and have had ample experience with unemployment releases, which come out like clockwork on the first Friday of every month,” according to Axios. But, as the outlet concluded: “[T]here will be no great post-mortem about why they got the number so wrong.” [Emphasis added.]

The ABC, CBS and NBC morning news shows didn’t think to bring any of this up when the new jobs numbers came in, destroying expectations.

The Bureau of Labor Statistics (BLS) released a report at 8:30 a.m. Nov. 6 showing that the unemployment had dipped an entire percentage point to 6.9 percent in October, handily beating expectations. The economy had also added 638,000 jobs, dwarfing expectations of a 530,000 increase. ABC’s Good Morning America (GMA), CBS This Morning and NBC’s Today (including the Third Hour of Today) blacked out the news entirely.

When the astronomical U.S. GDP growth numbers were reported at the end of October, showing that U.S. GDP experienced its “fastest growth ever,” both Today and CBS This Morning censored that news also. 

That same day, the ABC, CBS and NBC evening news shows took the massive uptick in GDP and spun it to fit a “narrative that [the] country was in a tailspin.”

Now it appears that all the economic Armageddon projections by the media were a farce.

As Axios concluded:

Americans will always latch onto whatever polls they can find, desperate to find a narrative during the long months of campaigning. But we’d be better off ignoring them entirely, [emphasis added.]

Conservatives are under attack.  Contact ABC News (818-460-7477), CBS News (212-975-3247) and NBC News (212- 664-6192) and hold them to account for ignoring, downplaying and suppressing the strength of Trump’s economy.

MRC News Analyst Nicholas Fondacaro contributed to this report.

 



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