No, it is not. The official statistical data on the American labor market are being distorted by the US Census Bureau's statistical adjustment model due to the employment of part-time workers and the massive influx of immigrants into the country. Even disregarding these factors, job creation, which has remained at an average of over 200,000, has in reality been close to zero or even negative, as the BLS's own household survey has shown. It is not just the labor market data that is completely distorted; other important indicators of economic performance, when viewed behind the official lens of what the government wants to show, show how the real economy has never recovered from the crisis seen in 2020 due to the pandemic, characterizing stagflation. But the good news for Americans is that this is not only affecting the US but the entire world. Just to give an example, retail sales do not take into account price increases, so higher rates do not necessarily reflect greater demand, but rather because of the impact of inflation on product prices. Although retail sales have increased by 13.2% in the last three years, when adjusted for inflation, the indicator shows a drop of 3.6%, that is, Americans are spending more and buying less, this is a clear sign of impoverishment and not of increasing wealth and economic growth.
