A major economic shock has just hit the United States. On August 21, the US Bureau of Labor Statistics revealed that they had made a big mistake in the number of new jobs created over the last year. They admitted that the total number of new jobs they announced from March 2023 was overestimated by a huge amount—818,000 jobs that were reported simply didn’t exist! This is a massive miscalculation that has stunned many people.

The mistake is even clearer when you look at the monthly number...