Economic analyst Jim Rickards appeared on Friday’s WarRoom with Peter Navarro and shed light on alarming inconsistencies in U.S. job reports, suggesting that the White House is misleading the public about the true state of the job market.

According to Rickards, the administration’s portrayal of job creation is not only inaccurate but also deceptive. It masks deeper economic issues and misleads the American people, and worse yet is they have been doing this for a long time.

Rickards began by addressing the discrepancies in the monthly job reports, mainly focusing on how these reports have been manipulated to paint a rosier picture than reality warrants.

“Every month they come out with an employment report…and every single revision for a year was downward,” Rickards pointed out, highlighting a systematic issue with the data being reported. This pattern of continuous downward revisions suggests that the original reports are consistently overstated, leading the public to believe the job market is stronger than it truly is.

The core of the issue, according to Rickards, lies in the distinction between the two primary surveys used to measure employment: the employer survey and the household survey. The employer survey involves contacting businesses to determine how many jobs were created or lost, while the household survey gathers data from individuals about their employment status. Ideally, these two surveys should align closely, but Rickards noted a significant and persistent divergence between them.

“Those two numbers should be the same. They’re not, there’s always some difference, and that’s to be expected, but they should be the same. But they’ve been way off,” he explained.

Rickards went on about the consequences of this discrepancy, revealing that the household survey often shows a far more dire employment situation than the employer survey. “The household survey has been showing in certain months losses of six hundred thousand jobs when the employer survey is showing gains of about 250,000 jobs,” he stated.

This massive gap between the two surveys not only raises questions about the accuracy of the data but also suggests that the government might be using selective reporting to create a narrative that suits its agenda.

Adding another layer to the discussion, Rickards touched on the concept of “phantom jobs,” a term used to describe jobs that are reported as created but do not actually exist. According to Rickards, these phantom jobs have been inflating the official employment figures, giving a false sense of economic recovery. “This number that Trump referred to, by the way, he was exactly right…about 818,000 jobs that the White House said were created, but were never created,” Rickards revealed.

This shocking revelation exposes the extent to which the administration has been willing to distort the truth to maintain a facade of economic stability.

The implications of these lies are profound, not just for policymakers and economists but for everyday Americans who rely on accurate job data to make informed decisions. If the government is indeed fabricating or grossly misreporting job numbers, it undermines public trust and potentially influences crucial economic policies based on faulty data.

Rickards did not mince words when expressing the potential consequences of these actions: “What that means is not only have we been overstating jobs, but…that correction is going to be a severe decline in employment and much higher unemployment.”

The White House’s misleading portrayal of the job market could be masking a much more severe economic downturn than is publicly acknowledged.

The current administration’s reliance on skewed data and misleading economic indicators may set the stage for a recession that could have been mitigated with more honest reporting and proactive policy adjustments.

Rickards’ revelations about the “phantom jobs” and the discrepancies in employment data paint a disturbing picture of a government more concerned with optics than honesty.

The Biden-Harris administration’s dangerous lies about the job market are not just statistical errors; they are a deliberate manipulation of reality that could have severe consequences for the American economy. As Rickards’ analysis shows, the gap between what is reported and what is real is widening, and the eventual reckoning may be much more painful than anticipated.

For more on this topic, watch Jim Rickards on the WarRoom: